US Government is suggesting a $700 billion financial package to prevent a chain reaction at Wall Street. The US national debt to over $10 trillion dollars with just a single decision.
Interestingly there are many experts that tell their own story about what this all means on the long run.
Someone may wonder where this money is coming from. And very simply said there are two sources:
a) Nothing… Thin air!
This could be done by simply done by “claiming” that there’s $700.000.000.000 dollars more in the world. This is suggesting that this money is covered by something else and it also allows the value of the dollar to degrade for anybody (but there are other reasons as well). In 2008, for example, it took $21.57 to buy what $1 bought in 1913 (Source)
Experts like Peter Schiff are punding the topic of the collapse of the dollar since years – and other experts try to cover it up. Just watch this piece:
Peter Schiff is also favouring the gold standard:
b) The future
The “future” is… the future taxes, prices and hard work. The “average Joe” is paying it with less social security, less pansion, less money in the pocket for more and longer work.
The only politician in the US that obviously does not try to cover it up seems to be – who else – Ron Paul. Watch his comment here: