Watch the video above, a clip from C Span. Rep Ron Paul (R) 14th Texas is questioning Chairman Bernanke of the Federal Reserve. The Fed Chairman admitted that the federal government has printed money to cover expenditures, a practice called "monetizing the debt." Lyndon Johnson's administration did this as well and it helped to create the dire stagflation crisis of the 1970s. Obama's irresponsible administration is doing the same. Monetizing the debt inflates the currency tremendously, eroding the value of people's savings. In a sense it operates as a tax because the government spends money at the expense of wealth held by the people.
Scary times, folks. Scary times.
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