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The dollar will collapse unless we have a major war. They printed us out of mortgages.. now they printed more to pad COVID subsidies. It’s gonna be worthless paper for our children

FrozenSoul 7 Oct 19
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Sounds like a good time to take out a fixed rate mortgage.

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The dollar has essentially been worthless paper ever since we left the gold standard. FIAT money as the US Dollar is - is a debt instrument. You actually poses a portion of the US debt with each dollar. Time to invest in real gold again. I still won't turn away the FIAT dollar as it will remain a valid debt instrument as many countries use it as a monetary reserve.

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"But Hamilton wanted to go farther than debt assumption. He believed a funded national debt would assist in establishing public credit. By funding national debt, Hamilton envisioned the Congress setting aside a portion of tax revenues to pay each year's interest without an annual appropriation. Redemption of the principal would be left to the government's discretion. At the time Hamilton gave his Report on Public Credit, the national debt was $80 million. Though such a large figure shocked many Republicans who saw debt as a menace to be avoided, Hamilton perceived debt's benefits. "In countries in which the national debt is properly funded, and the object of established confidence," explained Hamilton, "it assumes most of the purposes of money." Federal stock would be issued in exchange for state and national debt certificates, with interest on the stock running about 4.5 percent. To Republicans the debt proposals were heresy. The farmers and planters of the South, who were predominantly Republican, owed enormous sums to British creditors and thus had firsthand knowledge of the misery wrought by debt. Debt, as Hamilton himself noted, must be paid or credit is ruined. High levels of taxation, Republicans prognosticated, would be necessary just to pay the interest on the perpetual debt. Believing that this tax burden would fall on the yeoman farmers and eventually rise to European levels, Republicans opposed Hamilton's debt program.

"To help pay the interest on the debt, Hamilton convinced the Congress to pass an excise on whiskey. In Federalist N. 12, Hamilton noted that because "[t]he genius of the people will ill brook the inquisitive and peremptory spirit of excise law," such taxes would be little used by the national government. In power, the Secretary of the Treasury soon changed his mind and the tax on the production of whiskey rankled Americans living on the frontier. Cash was scarce in the West and the Frontiersmen used whiskey as an item of barter."
Reclaiming the American Revolution: The Kentucky and Virginia Resolutions and their Legacy
by William Watkins

[usdebtclock.org]

And yet, people still manage to make more things worth stealing, even while the stolen loot for over 200 years in America, has been used to steal even more, talk about paradoxes.

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