Will Grigg's Liberty Minutes
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Will Grigg’s Liberty Minute

July 27, 2010

According to the chairman of China’s largest credit rating agency, “The US is insolvent and faces bankruptcy as a pure debtor nation….”

For years, Beijing has bankrolled Washington’s deficit spending, including the trillions of dollars spent in recent years to expand the Homeland Security apparatus and pay for two useless foreign wars.

The previously quoted Chinese official makes a telling point when he observes that “the huge military expenditure of the US is not created by themselves but comes from borrowed money, which is not sustainable.”

If China dumps the dollar, the Regime in Washington and its quasi-private counterfeiting arm, the Federal Reserve, will have to monetize the debt, which will lead to Weimar-style hyperinflation.

Germany’s central bank began the radical expansion of its money supply in 1920, but the hyperinflationary effects weren’t felt until 1922. Ominously, the radical expansion of the monetary base by the Federal Reserve began two years ago.

Let us take back the liberty wherewith Christ has made us free.