goldsilverworlds.com / Gary Christenson / November 5, 2015
Debt overwhelms most people in debt based fiat currency economies (US, UK, Europe, and others).Credit cards, auto loans, student loans, mortgages, and more …
Debt overwhelms most governments in debt based fiat currency economies. They are in debt because governments spend more than their revenues, which is a truly simple concept. However, don’t expect fiscal sanity to return anytime soon.
HOW BAD IS IT?
In round numbers global debt is about $200 Trillion and increasing about $10 Trillion per year or $27 Billion per day, each and every day. Dishonest money is easy to create – just borrow it into existence.
REALLY? THAT SIMPLE?
Why not? US national debt has dramatically increased since 1913 and the US financial system has not imploded yet. Based on a hundred years of history, politicians believe they can increase debt for a very long time. The problem – and it is a BIG problem – is that because debt substantially increases every decade, then the purchasing power of the dollar, pound, euro, yen etc. DECREASES substantially every decade.
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