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Sunday, January 15, 2012

Sovereign credit

Well, it's finally happened. The credit rating services have downgraded some European (socialist) states' credit. They have run out of other people's money and don't know what to do. It seems politicians always learn the hard way. You can only steal purchasing power using inflation for just so long and eventually it just won't work anymore. Unfortunately, the United States is still trying to prove that immutable law wrong with its continuing bailouts and money creation. The bigger a ship is, the long it takes to sink. The USA could be sinking for 5 or 10 more years, but it will sink using the current plan. Unfortunately. UNLESS, the people get wise and return to the Constitution for guidance. If that happens, it could be that the good ole' US of A will be saved. I sure hope so. Then maybe the Central Bankers will be run out of town on a rail (don't forget the tar and feathers) and silver will be reinstated as the basis of the dollar. (Federal Coinage act of 1792). That will solve a lot of problems because the Bankers can't manipulate silver that is circulating freely. Let's let gold and platinum circulate, too but let the free market assign the value. I think the best thing to do is put coins out with only a weight (troy) on them. Make 50 grain, 100 grain, 250 grain and 500 grain coins of copper, silver, gold and platinum. That will solve the problem of how to account for them. Maybe even mix 20 grains of silver with 200 grains of copper. The possibilities are endless and they all benefit my fellow citizens. It's time. Let's do it. Now.

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