Source: Egon von
Since Reagan came to power in 1981, the U.S. has had a total of five presidents who have spent ever increasing amounts of money to hang on to power and buy votes.
This has resulted in the most extraordinary money printing venture in history. It is not just central banks that print money. Governments that borrow vast amounts of money are also performing a printing function since money is created out of thin air. And even worse than that, the U.S. government neither has the intention, nor the ability to ever repay the debt with real money.
Thus the U.S. debt can only vaporise when the country defaults. Since there is no other way of eradicating this debt, a default by the U.S. is guaranteed to take place in coming years. But before that the Fed and the U.S. government will flood the market with jumbo jet…
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