Things more worrisome than AGW: US Deficit
Source: Off the Grid Radio
No government in history, once detached from the gold or precious metals standard for their currency, has ever lasted past the 40-year mark before morphing into inflationary panic and disaster.
We last associated our currency with gold in 1971. Forty years later, we’re living in a time where our government has to borrow or create out of thin air 3.65 TRILLION dollars over the next 12 months just to pay the interest on the short-term Treasury bill debt and cover the 1.65 Trillion deficit in this administration’s budget.
But what’s a trillion dollars here or there, right? Well, if you think of it in terms of time, like our guest on Off the Grid Radio this week suggests, it might make it easier to grasp.
And more horrifying to contemplate.
If we transitioned from dollars to seconds, here’s what it would look like.
- 1 million seconds = 12 days
- 1 billion seconds = 32 years
- 1 trillion seconds = 32,000 years
Now can you see how we can no longer sustain the financial strain of an economic system the politicians love (because it gives them power to do as they please)?