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Do We Repay Scoundrels for Burying U.S. in Debt?

by Rick Ackerman
RickAckerman.com

I wrote here yesterday that Trump’s plan to pay off the national debt with tariff revenues would place a huge new tax on consumption, triggering a Second Great Depression. Here’s an interesting response from Rick’s Picks forum regular John Jay:

Actually, Trump and the NY Times are on the same page on this issue. They are both going along with the setup that all that debt, financed by the Fed out of thin air, MUST be repaid. Well, let’s think outside the box on this issue, shall we? What the Big Banks, through their proxy, the Fed, have been doing since Easy Al replaced Volcker, is create money out of thin air to monetize the debt. It is not some mysterious, special skill; anyone who can fire up a computer and hit the “0” key can manage it. They have just abused their power to enrich the handful of scoundrels at the top of the heap.

Continue Reading at RickAckerman.com…

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