Many conservatives are aware of the dangerous fiscal situation we face, and the importance of immediate action, but are they right about how to address it?
Dan Bongino, Mark Levin, and Glenn Beck keep talking about the dismal fiscal situation of the Biden Administration. I am thankful for their warnings, but I am disturbed by their constant references to, “too much money chasing too few goods.”
This is a dishonest representation of the dangers of fiat currency. While the fact that the diminishing value of our currency will result in layoffs, rising unemployment, higher prices, and the destruction of small businesses, these are only byproducts of the real problem.
This formula/definition of “inflation,” is not representative of the problem we face.
80% of all US currency in circulation was created in the last two years. Did you understand what you just read? What do you think it means? I will admit that the calculation is above my pay grade, I am not able to calculate it, but I do realize that IT IS BAD! The constant focus on free market principals of trade is not applicable.
Our government has stolen an insane amount of the wealth that we have earned, and spent it on a panoply of items, and issues that we have not authorized them to spend our money on.
When water is found to be streaming into our boat from a hole, we have no effective choice to save ourself, other than to plug the hole. No amount of bailing will be sufficient to our salvation if the hole, (the source of our problem,) is not addressed.
When we find ourself in a hole, as it gets deeper, and deeper, with a shovel in our hand, it is important that we stop digging if we hope to get out of the hole.
I have noticed that Levin has quit referring to the relationship of currency to goods, but Bongino, and Beck are relentless in their references to this farce.
Don’t get me wrong, I love these men, and value their opinions on many matters, and it is important that they keep reminding us of this enormous problem, but their diagnosis falls short of sufficient effectiveness. Their relentless pursuit of truth is priceless. They have simply been deceived in this area, indoctrinated by higher education to paying too much attention to less important things. Whenever anyone follows the mention of inflation with references to the relationship of currency to goods, it serves to blunt the impact. This is the hope of the creators, and spenders of the stolen money.
Any effective solution to our inflation problem must begin with the stabilizing of our currency, and that relies upon the termination of money creation.
When someone has a gambling problem, and they find themself sitting at the poker table, with no money, and surrounded by players holding IOU’s with their name on them, the first step to correcting the problem is to put down the cards, and leave the table. It is stupid for them to say, “just one more hand.”
If we choose to be ignorant, we will help to seal our fate.
The tactics used during the Reagan administration, to correct the Carter stagflation, will not be sufficient. Tax cuts, and higher interest rates will never keep pace with the problem. What is needed is to STOP the creation of currency altogether. Force the Federal government to balance their budget, and live within our means. It will be painful, but it is necessary. There can be no other route to fiscal soundness. The longer we wait, the more perilous, and painful it will become.
God bless you, Dave