Friday, March 22, 2013

One day, and for no reason

The road to hell isn't paved with gold, it's paved with faith. Faith in a dollar that's backed by a belief that people have faith in other people's belief in it.
Jarod Kintz

The debasement of the U.S. dollar, says Rick, is a near-certainty. "It appears very unlikely that our society can sustain its level of consumption with its current level of disinvestment. The U.S. federal debt exceeds 16 trillion dollars[1] and off-balance sheet liabilities exceed 60 trillion dollars[2], while our annual on-balance sheet budget deficit exceeds 1.5 trillion dollars, half of which we borrow and the other half of which we counterfeit by printing. So the government is attempting to service 76 trillion dollars in debt with just 2.5 trillion in revenue, while spending 3.6 trillion annually[3]."

In order to avoid a default, says Rick, the Fed will likely continue to debase the currency so that the government can repay its debts at lower cost.

Sprott Group - Rick Rule




Yet one day, and for no reason, this star grew tired, fainted, and fell from the sky.
Angie Austin

Lastly, one quote for those who don’t care about economics.  I wish that most politicians would read understand OWH and .  One day, maybe, when the Rise & Fall of America is written, the idiocy of the politicians will be exposed.  And generations who didn’t have to live through the hype and spin will laugh at their stupidity.  The reality is that they will deride Americans who allowed the propagation of the lie.

Speak clearly, if you speak at all;
carve every word before you let it fall.

Oliver Wendell Holmes

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You are not entitled to your opinion. You are entitled to your informed opinion. No one is entitled to be ignorant.

Harlan Ellison