Why Its Pointless To Argue With Global Warming Believers 2059

ZnU

WE have Mr. Bush to thank for that. Everybody that I know of points their finger to him for this ridiculous oil prices that were also tied to his foreign policies. Fiat money can be printed and printed and printed... because nothing needs to be accounted for anymore. If they could only print money according to how much gold was on hand, we wouldn't be in this mess. We'd even be in better shape if the Federal Reserve didn't exist.

That is where you are wrong. For every dollar put into circulation, the U.S. Government has to borrow that money and pay interest on it. If you think the Federal Reserve system is run by the government, it isn't. It is private. All the banks are private. If they weren't private the workers would be getting their paychecks from the U.S. Treasury, which they don't.

It is easy to borrow beyond what is backed by gold. That is called real debt... but today's fiat money is not backed by anything and that is why the USD floats in value. The government can borrow as much as Congress votes for and does. To pay off either of the two debts still requires taxation of it citizens. Before the Federal Reserve system was enacted, we didn't have to pay any income taxes to pay off any government debts. That is the whole point.

Yes, for now. But a system like this will eventually fail.

-- Where are we going? And why am I in this handbasket?