Once again… Back to the Future. It matters know who is or was or will be in office… The following was originally published in 2011. Nearly eight years have gone by… Our question is, “What has changed?” ~ Ed.
Image by Getty Images via @daylife
Here’s how President Barack Obama answered CBS’s Scott Pelley’s question about whether he could guarantee that Social Security checks would go out on August 3, the day after the government is supposed to reach its debt limit: “I cannot guarantee that those checks [he included veterans and the disabled, in addition to Social Security] go out on August 3rd if we haven’t resolved this issue. Because there may simply not be the money in the coffers to do it.” Continue reading
President George Washington received a bill that would create a national bank if he didn’t veto within 10 days. National-government power to print money not backed 100% by reserves of gold or silver had been voted down by Washington’s Constitutional Convention by a supermajority of 9 to 2. Four short years later, Treasury secretary Alexander Hamilton claimed the opposite: that the Constitution implies that the national government can create a national bank that prints fractional-reserve money. Washington ran with this, didn’t veto, and instead 
If the United States’ central bank, the Federal Reserve, stops printing money, the stock market will crash. However, the continual printing of money could cause a crash of its own. Either way, we are in a lose-lose situation when it comes to the decisions made by central bankers.
The central struggle since the inception of the Republic has been about the control of money. Since the U.S. Constitution clearly defines coinage, the objective of the mercantile elite was to circumvent the law and establish a National Bank. Woe to any defender of President Andrew Jackson for abolishing the 
For as often as the phrase “history repeats itself” is used, it’s shocking how rare it is for mankind to actually learn from its mistakes. This year marks a decade since the housing crisis rocked the American economy to its core. Its implications were so far-reaching, many are still recovering from the devastation today, making it all the more frustrating that few seem to have learned any sort of lesson from the not-so-distant collapse. 
This teetering edifice of debt is going to collapse, and they know it.
People like the welfare state because they suppose that it comes at no costs and provides many benefits. If people knew how much the present consumption of social benefits entails less prosperity in the future, the population would have a critical attitude towards the welfare state and politicians would have a harder time selling their fraud. Just as a society that ranks security over liberty loses both, a society that attributes a higher value to social benefits than to wealth creation ends up with neither wealth nor benefits. 
