fraudThis blog is going to take a new direction because I have had more than enough of these economically unsound diatribes resonating through our media. I used to have the feeling that simply providing the news would be enough, but now I am of the opinion that someone may actually need to explain the real situation to most Americans.
The Federal Reserve Can Lower Interest Rates Only Through Debasing Our Currency
This guy and Senator Kucinich are two of the only people that understand what money actually means. Money has value because it allows people to exchange goods and services. Many so-called 'economists' talk about low interest rates helping our economy. This could not be farther from the truth. Low interest rates are achieved only through debasing the currency i.e. printing billions of dollars. Imagine a fictional economy that has only $10 and $10 worth of goods to be sold. If the central bank of this economy decided to increase the money supply by 10%, each dollar would only be worth $.91. In other words, by printing dollars (or lowering interest rates, as the Federal Reserve likes to call it), every person in this fictional economy has lost 10% of their savings.
If you have $100,000 saved for retirement and inflation reaches 10% (the Fed decides to print more money), your retirement money will only buy $91,000 worth of goods and services. Good luck. Here is some other real news:
In the Real World, Economists Are Preparing for a Crash
"In a 149-page document, the agency's scientists said that "warming of the climate system is unequivocal" and that potential health risks include more heat waves, floods and droughts, insect outbreaks and and wildfires, along with crop failure and decline in livestock and fisheries productivity…"
Hey Remember the 1,000,000 Million Person Terrorist Watch List?
Home Prices Are Way Too High
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