Tellievision is for the masses, those who choose to get along with whatever managers of the three not so news networks determine what’s worth thinking about and to whom to listen. Should enough people invest requisite energy into truth as they do in clearing what passes for cash these dim days, we may witness marked changes in perspectives.
For instance, the recent monetary allocation towards Ukraine creates instantaneous debate about the shadowy conflict. However, for Americans, the point at issue relates to their country’s ability to secure further resources. A looming national mortgage raised by constant, lengthy deficit spending over fifty years should raise eyebrows, yet interrogation registers not on the minds of the public. Once more, the capacity of the Federal Reserve to print notes stands at thirty-eight million notes per year. Hence, printing forty billion dollars is not exactly an overnight process. Either Ukraine is going to wait for printed notes or something else and if so—what is it? Has America figured on parting with gold reserves to make payment? The real question is—what is money?
Upon investigation, even leading economists struggle to meet this question other than modestly stating it is commercial bank credit. From there, descriptions produce myriad complexities and shady history concerning an array of private/governmental fiscal establishments, ravenous financial geniuses, along with dreadful accounts of voracious schemes. Economic analysts use the colloquial phrase, “magic money” which is actually within bounds of reason. Money based on sheer faith. With abundant resources at your disposal, faith can be hand cheap. According to the Legislative Analyst’s Office, California is the nation’s wealthiest state with over six trillion in assets, followed by the state of New York. How deep down the list would we go to accumulate thirty trillion? Florida comes next, then Texas, followed by Illinois, Pennsylvania, New Jersey, Massachusetts, Washington, Virginia…
Start from the bottom up: Alaska, Vermont, North Dakota, Delaware, South Dakota, West Virginia, Rhode Island…at this rate, one may compass three-quarters of the nation!
This exercise serves to place the national liability in a certain perspective. With the time to print and staggering indebtedness, it appears unlikely that the United States will actually pay the debt off at any point in the future (save selling multiple states). I would suggest there is no intention of doing so. The U.S. holds 344 billion in gold reserves depending on dollar value estimates; this won’t satisfy the national debt of course but suffices to cover the recent congressional Ukrainian obligation.
Tellavision does not supply an answer, only a circumstance, and it is incumbent on the individual to conduct their own independent analysis. Facts abound, however, a will to purpose separable thought with inclusion of imagination to consider becomes requisite for understanding. Should people concentrate their efforts towards sustaining the basics in life while leaving the higher things to trusted leading lights of the world, real impressions remain elusive. Cleavage presents: the public is faint; the peers of the realm are serious. Alas, the power to think big in terms of prosperity is not proportionate to thinking big regarding demise, naturally.
“You can’t depend on your eyes if your imagination is out of focus.”
Mark Twain
Anon's Record 