Let’s look at the cold hard facts when it comes to debt. Well, at least what we can see because we have no idea how many trillions are lost, stolen, or hidden. The US national debt in 2000 was $5.6 trillion. Today the US national debt is $32.7 trillion. Debt per taxpayer in 2000 was […]
Tag Archives: quantitative easing
The term fiat money refers to a currency that has value solely because a government or central authority has declared it to be legal tender. Fiat money is not backed by a physical commodity like gold or silver but rather by trust and confidence in the issuing authority. Fiat money is indeed created by central […]
The Federal Reserve System is the central bank of the United States. There are many reasons why the Federal Reserve is not a government agency. The US has to borrow money and pay interest and fees on it. A truly sovereign money system does not allow the central bank to sell Treasuries to other parties, […]
Hyperinflation during the Weimar Republic 100 years ago Paper or fiat currency is nothing new in world history. China has a long history of printing intrinsically worthless currency dating back to the seventh century. In the 1400s the kingdom of Spain began printing paper to be used as money during military sieges.