U.S. Rep. Scott Tipton, R-Cortez, addressed the public a couple of weeks ago. One of his main concerns was our national debt of $19 trillion, and with that the eternal hope of Congress balancing the budget.
As it turns out there might be a solution brewing to deal with both. The U.S. is not the only one strapped with millstone debt, its said that the world owes $233 trillion, largely because of the Rothschild financial system, which has controlled a large part of the world, forcing liberal lending practices wherever it could.
There is a new player on the block; called the BRICS Global Development Bank. It stands for Brazil, Russia, India, China and South Africa, which just happen to be the main players behind a new precious metal backed currency system.
In our case the U.S. allowed the Rothschilds (eight families) the federal reserve system, that in 1913 replaced the gold standard with fiat money. Now a little over 100 years later we are wondering what went wrong, as we find ourselves in the ultimate world debt bubble, which is totally unsustainable.
Controlling interest rates and adding liquidity, has been a major throttle to regulate for our economy, or to or help us survive the notorious bubbles that our economy inherently creates. We will no longer be able to add liquidity, as a means to bail us out of the next crash. We came close to a total crash in 2008, during the sub-prime mess, but the day was saved when the fed infused $800 billion into the economy. That’s when we found out we weren’t too big to fail.
Now there has been talk of a world currency reset according to the top 20 economic nations in the world, since their G-20 Financial Summit Meeting in 2013, or we could be facing a new backup financial system to the dollar. Which would be the BRICS. Its a toss up as for how it going to pan out, after the dust settles, one way or the other we will have a more stable economic outlook.
Bill Utrup
Cortez