I recently* went to Ron Paul's rally, and he was saying the same thing. He predicts a total collapse of the US dollar within 2-3 years, and he explained how our current debt level is unsustainable and within a year or two we will no longer be able to borrow money.
(* Oh wait, that was a Ron Paul rally I attended in San Francisco in... 1989
. He was saying
the same exact things 25 years ago!)
You think the guy would mix it up a little, but I guess his audience doesn't seem to care that his predictions fail to materialize year after year, decade after decade...
That's because, like you, Ron Paul never studied the inside of a bank ledger. If he had, unlike you, he would be suggesting that we shut down the Federal Reserve bank. Oh wait. He DOES suggest that... at least to audit them. What does a bank ledger have to do with anything?
Simple. If you are a borrower borrowing money from a bank, you don't really borrow. Rather, you trade. What do you trade? You trade a promissory note of some kind with your signature on it for some of their green stuff, or else a bank check.
How do we know it's a trade? Try trading the promissory note WITHOUT your signature on it. The bank won't give you your money until you sign it.
There are two major points about this. One the bank will tell you. The other they won't tell you. The one they tell you is that they need your signature so that they have proof that you borrowed the money in the event that you default on loan repayment. The one they won't tell you is that you paid off the loan in advance with the signed promissory note.
How do we know that the promissory note was used to pay your loan off? This is where the bank ledger comes in. The ledger shows that they deposit the note into a banking account just like they would a check or money order. You got your money from them by their withdrawing it out of the bank account, and giving it to you as your loan. The ledger shows this.
What this means is that the whole loan process is really a creation of new money. The bank doesn't really loan you anything.
Then the bank sells your promissory note, or interest in it, to some outside company at a discounted rate. The company makes money off your payments over the years. The bank even handles much of the collection process on behalf of the paper buyer. But you essentially pay off your loan twice, plus the interest. The bank is inappropriately enriched by getting money from the paper buyers, except that it is legal.
All the bank CPAs understand this, even if they haven't simplified it in their own minds this much. But, they are under oath not to divulge anything that is in the bank ledgers, so they don't... most of the time.
Tom Schauf is a former bank CPA who DID divulge the info. Search on "Tom Schauf, bank freedom" to find out the info about this.
Where Ron Paul is wrong is, all the extra money that the banks make, winds up in the coffers of the Federal Reserve Bank owners... some of which are in Europe. And the thing that they do with it is to, under the table, balance the money system so that it doesn't fail.
Another thing they do with it is to support places like Ukraine when the US doesn't ship enough borrowed money over there. It's amazing how money suddenly turns up it Zelensky's accounts when neither the US nor Nato have sent them anything.
The USD money system will collapse. But it will happen by the Fed bank owners making mistakes, by collapse of the electrical grid, and/or by the people no longer using Fed money once they figure this info out. Bitcoin is part of the downfall process, although it might not be a big part.
