The Federal Government is overspending by such a wide margin the only solution they have at this point is to devalue the dollar so the cost of borrowing does not collapse the welfare spending mountain.
The problem is so bad with excess federal spending that the only solutions we have at this point would be to cut spending across the board by 50%, raise taxes on every single person by 25%, confiscate wealth from the people in any way possible, or just default on the federal debt.
If we default on the federal debt the main group which will be crushed would be...The Federal Reserve. The Fed has been putting so much federal debt on to its books that any change in the system at this point would really pound them. If Ron Paul really wanted to "End the Fed", this would kill two birds with one stone.
1) Allow the Fed to buy U.S. debt back from foreign investors and don't sell any more debt outside the Fed.
2) Announce a new currency which will be backed with a basket of items such as Oil, Gold, Silver, Platinum, Lithium, etc...
3) Give everyone 1 year to exchange the old dollar with the new currency
4) The Fed would take the loss from the currency devaluation and the federal debt. This would end the Fed.
5) We start over.
I am not the Federal government. I am a US Citizen. As such, I am not responsible for reckless decisions, favoritism, payoffs, and endless wars the government of the country that I choose to inhabit chooses to fund by debt spending. Therefore, I vote to solve the problem we:
1 - declare 99% of the federal government useless, unconstitutional, and dissolve it
2 - declare all debts incurred by said useless government null and void
3 - pass a law once again allowing anyone to create "money". the market will quickly determine what is valid and valuable, and what isn't
4 - that will cause the so called federal reserve to quickly go bankrupt and out of business, because no one will want to use so called dollars (federal reserve notes)
That said, 99% of the world's problems are caused by corporations and governments. Corporations and governments themselves are not mindless entities, they are run by people. Therefore 99% of the world's problems are caused by people. Until the mindset of people raises up and gets out of the petty egotistical power hungry greedy godless mentality that most live in, it doesn't matter WHAT economic structure, what government, what laws we have, we'll all end up in the same boat, different name.
M
