Loading ...“Golden” Solution
Here is my solution to the US growing debt problem. Of course politicians need to restrain spending going forward. However, the immediate need is to stop the rising cost of financing the deficit because of the higher interest rates. The US Treasury needs to refinance the outstanding debt by issuing 50 year zero coupon bonds. (After you have picked yourself off the floor where you fell off your chair because you were laughing so hard, here is the explanation.) If those bonds pay the buyer One Ounce of gold in 50 years, you are getting approx. $2000 in today’s money in 50 years. That is 100% more than the $1000 face value of the bond. 100% in 50 years works out to 2% annually.(not compounded) Why would long term buyers of bonds like pension funds and insurance companies, etc. buy them? The buyers are getting a decent return, with the GUARANTEE, that their purchasing power won’t be eroded by future inflation.(All long term studies prove without a doubt that gold protects purchasing power over long term periods of time throughout human history. This doesn’t solve all the US financial problems but it does stop the bleeding and provide a long term window to work out some solutions to those problems.
Brilliant CM
Chartsmaster for Finance Minister
My solution to the debt problem is as follows:
1. Get rid of all current congressman and senators and replace with normal people who care about the country.
2. Stop the excessive spending. No exceptions. No new debt.
3. Then, to pay off the debt, confiscate everything from all of the traitors and crooks in the country and put them all in jail or execute them if they are proven to be traitors. All of the Rockefellers wealth, and Bill Gates wealth along with all other traitors gets confiscated. No exceptions. The debt would easily be paid off.
4. Create a new banking system. No more raping people with loans made by creating new currency. We go back to a semi-gold standard.