Posted by Gun Guru on August 28, 2010 at 08:19:50 from (24.180.85.120):
In Reply to: national debt posted by RLH22 on August 27, 2010 at 18:09:40:
Its like this see:
The government has no self control so....
Uncle sambo and his goons print more money that is not backed up with Gold. (only fractional reserves are needed) and then as more money is printed inflation runs its course. This has been going on for decades actually. Inflation is low now, but when inflation really takes off....like 25% per year then folks will wake up and get really really pi$$ed.
The collateral you speak of is more greenbacks cause they run the printing press.....See how it works.
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Today's Featured Article - A Brief History of Tractors in Australia - by Bob Kavanagh. After Captain Cook's exploration of the east coast in 1770 the British Government decided to establish a penal colony in Australia. The first fleet arrived in 1788 and consisted mainly of convicts who were poorly equipped and new little of farming techniques. The colony remained far from self-supporting and it was not until the early 1800's that things started to improve. Free settlers started to arrive, they followed the explorers across the mountains and where land was suitable set up farms. T
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