The New York Sun/Editorial staff/1-12-2023
“The coming fight over the debt ceiling is a moment for the Sun to say what we want — a compromise that keeps the government running but commits Congress to establishing a monetary commission. The idea would be to take a formal look at how the Federal Reserve has performed in the last 100 years, how our national experiment in fiat money has performed in the last 50 years, and how to return to honest money.”
USAGOLD note: The public, by and large, does not understand the connections between debt and deficits and money printing, and for the United States, the consequences have been muted by the exorbitant privilege. Too, it is difficult of the average citizen to understand how a currency based on specie alleviates all that, though the Sun does a very good job of explaining it. Nevertheless, the monetary storm continues to gather on the horizon, and it will be a long time, if ever, before Congress does anything to detach from the fiat money bandwagon. That is why personal gold ownership is so important for those who do understand the connections.
