Metals and the Big Cons

by Gary Christenson
Deviant Investor

WHAT BIG CON? There are so many in the worlds of central banking, economics, government, and money that we list only a few.

1. We Need A Central Bank: Mainstream Media (MSM), politicians, and bankers promote this lie. It’s not true.

2. Debt can increase forever without material consequences. This is a dangerous con. Debt matters and will cause major pain in the next five years. Don’t believe the MSM regarding harmless debt.

3. Deficits don’t matter. Deficits matter little to politicians. If deficits were important, congress would not raise the “debt ceiling” every year or two. Deficits and massive debt transfer wealth to the political and financial elite.

4. A sovereign government that issues bonds in its own currency (such as the U.S.) can’t go broke. Well, maybe. Yes, they can pay off maturing debt by issuing new debt. If nobody wants to buy the new sovereign debt notes, the central bank can “print” currency units to purchase the debt. The government is not technically broke, but monetization leads to massive debts and hyperinflation. Think Zimbabwe, Argentina, and Venezuela. Who wants to be a Zimbabwe multi-billionaire when their central bank prints 100 trillion Zim dollar notes and pretends they are valuable?

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