Friday, May 9, 2008

The Twilight of Irredeemable Debt

On August 14, 1971, President Richard Nixon took the country completely off the gold standard. Debt ceased to be an obligation and became a way of life. Now it is 2008, and the chickens are coming home to roost! Irredeemable debt is created by printing fiat dollars: dollars that are backed by nothing other than legal tender laws and...

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