Today we are witnessing why in paper fiat-land debt is a four letter word; and a nasty one at that. The only thing the Federal Reserve has accomplished since its creation in 1913 is the loss of 95% of the dollar’s purchasing power; and they are hard at work destroying what little is left. Incompetence does not even begin to describe their actions.
This means that you and I – all of us, except the elite few – are becoming poorer by the day. Our standard of living is decreasing – not increasing. We owe more than we own: a prescription for debt-servitude – not the accumulation of wealth.
