Here’s an “inconvenient truth”: the United States Treasury Department has been printing money at an incredibly alarming rate since the end of September 2008.
Glenn Beck put together a little visual aid to illustrate just how much and how fast to help people understand how alarming it is:
Here’s the chart from the Federal Reserve to which he referred:
The article entitled, appropriately, “Hyperinflation“, at the Library of Economics and Liberty site provides insight to what the U.S. is risking by dumping huge amounts of currency into the system. The article cites two of the three historical examples I mention, along with others.
A good article on the situation in Zimbabwe can be found here.
Obviously, the amount of money we are printing is barely even being referenced in any news media outlets, let alone exposed detail. The excessive borrowing is not being mentioned either. It’s amazing how infrequently the question is being raised of how the U.S. is supposed to pay for the massive amounts of spending already undertaken and currently under debate.
There are already plenty of reasons for people to write members of Congress. Sorry to give you yet one more.
Filed under: Uncategorized | Tagged: 1923, american currency, economy, fed, federal reserve board, fox news channel, germany, Glenn Beck, government, hitler, hungary, hyperinflation, inflation, pre-wwii, printing money, talk radio, unstable financial system, value of a dollar, Weimar Republic, wwii, zimbabwe | Leave a comment »