No End to Wasted Tax Dollars

. . . that's because the Fed and government fully plan to borrow and print all the money they need. Waste is also a by-product of a fiat-funny-money system, along with bubble after bubble.

For years, I've been trying to understand why there is no alarm about the massive debt, borrowing, spending, and money-printing. Henry Ford hit the nail on the head. The problem is ignorance.

Have you ever played the game Monopoly ?

Let's say one player has the ability to print his own money.
Guess what happens?
In a matter of time, that one player will own everything, and everyone else is in debt.

Notable notes and quotes:

• "Fiat money is the cause of inflation, and the amount which people lose in purchasing power is exactly the amount which was taken from them and transferred to their governments by this process." (G. Edward Griffin, "The Creature from Jekyll Island")


• "A fiat monetary system allows power and influence to fall into the hands of those who control the creation of new money, and to those who get to use the money or credit early in its circulation. The insidious and eventual cost falls on unidentified victims who are usually oblivious to the cause of their plight. This system of legalized plunder (though not constitutional) allows one group to benefit at the expense of another. An actual transfer of wealth goes from the poor and the middle class to those in privileged financial positions." ( Congressman Ron Paul (R-TX), "Paper Money and Tyranny")


• Charles A. Lindbergh, Sr. 1913 "When the President signs this bill [converting to a fiat-money system], the invisible government of the monetary power will be legalized . . . the worst legislative crime of the ages is perpetrated by this banking and currency bill."


• "Whoever controls the volume of money in any country is absolute master of all industry and commerce." (Paul Warburg, drafter of the Federal Reserve Act)


• "Permit me to issue and control the money of a nation and I care not who makes its laws."(Mayer Amschel Rothschild)


• "Centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly." (Fifth plank of the Communist Manifesto, 1848)


• "Ideologically, [sound money] belongs in same class with political constitutions and bills of rights." In the name of civil liberty and civilization itself, the Fed should be abolished. (Ludwig von Mises).


• Ohio Senator, Warren G. Harding, who was elected to the Presidency in 1920, said in a 1921 Congressional inquiry that the Reserve was a private banking monopoly. He said: "The Federal Reserve Bank is an institution owned by the stockholding member banks. The Government has not a dollar's worth of stock in it." His term was cut short in 1923 when he mysteriously died, leading to rumors that he was poisoned. This claim was never substantiated because his wife would not allow an autopsy.


• In 1993, Sen. Bob Kerrey (Democrat, NE) promised to support President Bill Clinton's Budget Plan, if Clinton would appoint a Committee to study the condition of the American economy. The President established a 32-member bipartisan committee and in August, 1994, they issued their report. According to the committee's findings, by the year 2012, unless drastic changes are made, we won't even be able to pay the interest on the national debt. Knowing this, the federal government has allowed the trend to continue, almost as if they're trying to run our economy into the ground. It seems obvious that the destruction of the American economy will eventually be a result of trying to keep in deep in debt, and financially enslaved.


• In a letter to Edward M. House (President Wilson's closest aide), dated November 23, 1933, Franklin D. Roosevelt said: "The real truth of the matter is, and you and I know, that a financial element in the large centers has owned the government of the U.S. since the days of Andrew Jackson."


• "I sincerely believe ... that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale." ( Thomas Jefferson)


• "Of all the contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money." (Daniel Webster)


• "All the perplexities, confusion and distresses in America arise not from defects in the constitution or confederation, nor from want of honor or virtue, as much from downright ignorance of the nature of coin, credit, and circulation." (John Adams)

Despite all the problems, the vastly productive (enslaved) U.S. population, while getting deeper and deeper into debt (now about $20 trillion of personal nationwide debt), works their tails off trying to keep the economy hanging on.

This economy is propped up with massive debt, borrowing, spending, and money-printing.
And it grows ever larger, as does government; both to nightmare proportions.

Just because it takes many decades for things to unfold does NOT mean there will never be consequences. And, perhaps the people will finally figure it out?

The consequences will eventually catch up to us, as we all get deeper and deeper into debt (enslaved by debt).

How long can it last ?.

David - I have seen the government acquisition process from the military side and cannot begin to describe it. Antiquated, inefficient, stupid, expensive, unresponsive, etc. The process - which also must be used by the military is the reason we must rely on private contractors to supply beans, bullets and water to the military in Iraq. The process is also the reason these selfsame goods are so expensive. I would not know where to begin reforming this gigantic black hole. A huge problem.