Asaf Fulks on Nostr: A letter in response to my great friend Judge Jim Gray's newsletter outlining the ...
A letter in response to my great friend Judge Jim Gray's newsletter outlining the economy as the number one issue facing this country. He ran for US Vice President under the Libertarian ticket with Gary Johnson in 2012:
Bravo Jim! I agree on the problem but demanding government act fiscally responsible is not the solution. As long as they are allowed to simply print their way out of any debt, this dilemma will not be resolved.
The solution is to end the Fed and back the dollar 100% by a finite commodity like gold or Bitcoin. Force government to fund their endeavors without blind taxation. Likewise, we need to end fractional reserve banking. A system of money created through debt is a house of cards that always falls, and the average citizens who act responsibly and save dollars are the ones hit the hardest. The fed is not there to bail them out like major financial institutions, our government and even foreign governments. Looks what's happening with Japan now.
Besides dramatically reducing the size of the federal government, another more creative idea is to pass a law that if government officials are unable to deliver a balanced budget they all get thrown out and are ineligible for reelection...that should get the message across! Though it may be too little, too late as the interest payments on our national debt are set to exceed defense budget spending and only growing--nearly a trillion dollars per year. This is unsustainable and the only way out appears to be through inflation and increased taxation.
We are headed for a socialist/totalitarian US. Is it too late for a Johnson/Gray administration?
Bravo Jim! I agree on the problem but demanding government act fiscally responsible is not the solution. As long as they are allowed to simply print their way out of any debt, this dilemma will not be resolved.
The solution is to end the Fed and back the dollar 100% by a finite commodity like gold or Bitcoin. Force government to fund their endeavors without blind taxation. Likewise, we need to end fractional reserve banking. A system of money created through debt is a house of cards that always falls, and the average citizens who act responsibly and save dollars are the ones hit the hardest. The fed is not there to bail them out like major financial institutions, our government and even foreign governments. Looks what's happening with Japan now.
Besides dramatically reducing the size of the federal government, another more creative idea is to pass a law that if government officials are unable to deliver a balanced budget they all get thrown out and are ineligible for reelection...that should get the message across! Though it may be too little, too late as the interest payments on our national debt are set to exceed defense budget spending and only growing--nearly a trillion dollars per year. This is unsustainable and the only way out appears to be through inflation and increased taxation.
We are headed for a socialist/totalitarian US. Is it too late for a Johnson/Gray administration?