I mentioned I believed the government should develop a balanced budget and was ridiculed by a Mormon who insisted that the US had only had a balanced budget one year out of its history and it is only a valid concept for private ventures.
Never heard that before and I really have no idea how they can sincerely justify their stance, even after studying money markets and financial instruments for many years.
I guess I just don’t get it, but those inner city youths driving new BMWs, and owning houses without 1/3 my income or 1/10 the education have it figured out. /s
There is no Debt Ceiling. The debt has already gone thru the roof. The FED and the ECB are running the printing machines faster then ever. The global debt problem is a bomb shell waiting to explode. And there are plenty of these bombs hidden in many countries and if one goes up like in greece or cyprus they’ll heat up the other ones left. Our generation will see the fall of the Fiat money for sure.
This has happend in the past and it’s likely to happen again. I’ts written in the Bible, the Tenakh and the Quran.
“If thou lend money to any of my people that is poor by thee, thou shalt not be to him as an usurer, neither shalt thou lay upon him usury”
Ex 22,25
http://www.kingjamesbibleonline.org/Exodus-22-25/