Deficit spending—which begets inflationary monetary policy—has been a boon for the financial sector and its billionaires. Naturally, bank CEOs would love to get rid of the debt ceiling.
The current surge in inflation is not due to a shortage of supply as central banks want us to believe. It is primarily due to soaring consumer demand fueled by monetary creation.
Why do individuals desire to have money, which cannot be consumed and produces nothing? To provide an answer to this one must go back in time to establish how money emerged.
Let's stop pretending default is unprecedented. The US defaulted on debts in 1934 and again in 1979. Today it engages in de facto default through financial repression and monetary inflation.
As inflation becomes more obvious, governments will be blaming businesses for causing the inflation that policymakers have fueled. This is a step on the way to price controls.
The problem with China is that the entire economy is a huge indebted model that needs almost ten units of debt to generate one unit of GDP, three times more than a decade ago.
The One Ring of power stands for the particularly evil idea of creating a state of states, a world government, a world state. A one-world fiat currency is similarly dangerous.
The new "2 percent average" standard from last year helped the inflationists, but there are now calls for scrapping the "too low" 2 percent inflation limit altogether.
An economic depression is not caused by a decline in the money supply per se, but results from a shrinking pool of savings made possible by a previous bout of monetary inflation.
