The Dollar is Doomed

“Record-low interest rates encourage present consumption and generate massive debt.  In just five years, total financial as well as nonfinancial American debt has surged by 51 percent or $10.9 trillion to more than $32 trillion, three times the annual Gross National Product.  The Federal government itself is chafing under a $6.8 trillion debt and adding $1.6 billion a day.  At present interest rates, this debt alone commands charges of $300 billion a year, or more than $1,000 per man, woman, and child.”  According to Hans F. Sennholz in his essay - Saving the Dollar from Destruction - we are presented with a bleak financial future. 

Read the entire article