https://www.youtube.com/watch?v=ARBduyoXsP4
Persons are writing to ask if Trump is adopting our answer since he talked about eliminating the revenue tax, which I used to be proposing through the ’90s. There is no such thing as a longer a necessity for revenue taxes on the federal degree as a result of cash is not tangible. Taxes had been obligatory when cash was gold and silver as a result of the king wanted to get some again to cowl his spending. Right now, cash is not tangible; regardless of the state collects, it spends extra anyway.
Furthermore, what additionally modified was the necessity to borrow. States once more borrowed, and it was much less inflationary by taking in cash from circulation. Right now, we don’t must borrow, which then requires us to pay curiosity on cash that isn’t tangible, and we have now no intention of paying something off. All the monetary system will collapse, for that is unsustainable, as curiosity expenditures this 12 months will exceed navy. Inside 5 years, curiosity expenditures will greater than double.
The default happens when no person is prepared to purchase the brand new debt to maintain rolling the outdated. We’re additionally exceeding the capability of the banks to be major sellers, which requires them to purchase the debt in hopes of reselling. That is all coming to an finish. This will likely be one subject at this 12 months’s WEC subsequent week.
