This is the intelligence level we have in Congress today.
Please ignore the 14% year over year inflation on fuel, food, and housing.
The idiot congress critter’s argument that we can merely print all the money we need ignores that doing so does not avoid a crisis that approaches bankruptcy, it merely moves the goalpost into the future when reality will catch up with the inflation all that printed money creates, again making bankruptcy a possible condition the government would be faced with. Argentina has tried this idiots method (and similar stupid acts) more than once and is nearly always a South American financial basket case.
What makes you think they are wrong?
You are stuck in the past, with visions of real money in your head. You know, convertible gold at $20.67, convertible silver at $1.29.
Forget about it. We do not have real money, and no one else does, either. You become “rich” by taking on more debt.
Congress has racked up $100 trillion in present and future indebtedness, and the goldbugs have lost their shirts, over and over.
Get with the times, for heaven’s sake!
Mark
This Idiot is now on Rumble for those of you that don’t want to click on Twitter
House Democrats argue : We can’t go bankrupt because we have the power to create endless money
https://rumble.com/vmdp29-house-democrats-argue-we-cant-go-bankrupt-because-we-have-the-power-to-crea.html
Wow! He’s dumber then Kamala Harris.
He said we couldn’t go bankrupt. He’s right.
He left out that high inflation will result, significantly lowering everyone’s purchasing power.
The US Dollar is gradually losing its place as a world reserve currency. At some point the IMF or some such organization will present a list of demands to the Federal Reserve Board. Then our wings are clipped.
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
CHAIRMAN of the Budget Committee Rep. John Yarmuth (D-KY)
Sensible conservatives say to “invest in gold” (rarely mention silver, for some reason, no idea), and if suggested they go beyond that, they say “and guns and bullets”.
However, then they stop short. They need to expand their horizons.
One of America’s first reliable currencies was liquor. Without improved roads, excess crops were a burden unless distilled down. Then their value went up and was stable, they were transportable, not prone to spoilage, and convertible.
During the Great Depression, some local areas were protected by what amounted to coupons, called “Scrip”. There was a paper currency and coinage shortage (much like today but without electronic transfer), and Scrip filled the gap.
That is, some amount of workers pay was made with scrip, which could buy many of the same things as cash, but with a discount on them. You would get more for scrip than for cash.
Scrip was *not* “legal tender”, so was dependent on trust of the issuer. But when that trust existed, everybody benefited. The local economy continued to function, and cash was concentrated to buy things that could only be bought with cash, and taxes.
A modern form of scrip could be made at home in a copy machine, with a large encrypted dot matrix code printed on the back, authorized with a phone picture and a PIN.
In any event, back to the “buy gold, silver, guns and bullets” argument, why not expand that list to other things?
Just in metals along, investment grade metals include platinum (about half the price of gold), palladium (somewhat higher than gold), and rhodium (very volatile, in ‘16 was $620, now $27,000).
All three of these metals have been minted into coins.
They now have learned to print ballots as well.
Man, this dude should be playing with Tinkertoys or Lincoln Logs instead.
#WeimarNation
PING!
What Rep. John Yarmuth (D-KY) doesn't 'get' is when other countries feel the United States is acting like a third world hellhole they'll take our 'we can print money' privilege away from us. We'll stop being a reserve currency country and we won't be able to 'print extra money'...
It seems Rep. John Yarmuth (D-KY) belongs in a third world hellhole - he thinks like they think... and like democrats here are starting to think.
What a fool.
And this idiot is the Chairman of the committee.
The Uni party dollar in 1960 would buy you a basic burger just about anywhere for 20 cents. Today, McDonald’s basic/cheapest burger is $1.59. That’s 7 times more Uni Party money to buy the same damn thing.
A basic loaf of Buttercrust white bread at HEB today is $2.08. In Uni Party money that’s 8 plus times more than 1960.
Fast food french fries in 1960 were typically 10 cents. A small bag today at McDonald’s is $1.39. That’s 13 times more Uni Party money to buy the same thing.
A gallon of milk in 1960 was typically 1 dollar. Today, HEB wants $3.07. That’s 3 times more Uni Party dollars.
Our 535 person Congress has done more damage to this country than all the wars combined. Poor people are impacted the most. A Republic is not a panacea for governance of a nation.
I recommend prepping, folks. We should prepare regardless.