You’ll hardly find any Americans thrilled about paying a tax bill. You’ll probably find lots of Americans who are worried about the national debt.
But you won’t find many Americans who can make the connection between the national debt and their tax bill--that both are virtually the same thing.
To most Americans, the ballooning of the national debt is an abstract problem; one that most Americans suspect might have pretty severe consequences. But it's a problem that doesn't hit their wallets directly or noticeably.
If most Americans don’t notice this connection, it’s because “deficit spending” was designed to conceal itself; a hidden tax.
Instead of stealing your money in a forceful and upfront manner, it was designed to drain your wallet little by little; so subtly, in fact, that you wouldn’t recognize the theft.
The government can only fund its various programs by confiscating your wealth and the wealth of every American. It usually does so by taxation.
But taxation alone cannot cover the cost of their programs. And increasing taxes to the extent that government can pay for its programs may cause a revolt. No politician who wishes to stay in power would risk a tax revolt.
So the government has another clever scheme: issuing bonds and printing money to finance their "welfare state" projects--in short, deficit spending.
Naturally, this increases the national debt. When it comes time to pay its debts, Americans are handed the bill.
So there you have it. A hidden tax. Wealth confiscated right before your eyes. And it was all done without an actual “tax.”
Yes, it’s a dirty trick; one designed to fool the average American. But it has been going on for so long it makes you wonder how anyone can not see it.
It took America well over 200 years to balloon the national debt up to $1 Trillion. Now our debt is over $21 Trillion and increasing at an accelerated rate.
It took Washington just 14 months to rack up another $1 Trillion. Think about it: over 200 years for the first trillion versus 1 year to rack up another trillion. Do you see the big picture?
Back in 1966, writing for Ayn Rand’s Objectivist newsletter, Alan Greenspan got it right:
“Government deficit spending under a gold standard is severely limited. The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.”
You see, gold is incompatible with deficit spending. Physical gold cannot be inflated. And “real money,” that is, money with “real value,” shouldn’t be inflatable.
The days of the gold standard are now long gone. As Greenspan states, “in the absence of the gold standard, there is no way to protect savings from confiscation through inflation.”
That "confiscation through inflation" is now the norm; no longer the exception. And when it finally forces the dollar and US economy toward its complete demise, there will be only one currency left standing.
It isn’t going to be Bitcoin. And it’s certainly not going to be the Euro. Will it be the Petroyuan? Hopefully not. But if the Petroyaun were to become dominant, it will have reached its status for only one reason: it will be backed by gold.
In the end, only gold--the original standard by which “money” is measured--will be left standing.
And when this happens, you will be glad that you own some of it.