"Successful" Politics ... At Expense Of General Welfare Of The People?

   (Commentary posted by Roger Erickson.)

Translation: "Only 2 Presidents in last 50 years to REDUCE PRIVATE FINANCIAL SAVINGS"

This is a sad commentary on public awareness. Marriner Eccles must be turning over in his grave.

We need to add a simple message to K-12 education, so that Joe/Jane Sixpack don't find the fundamentals of fiat currency operations to be a surprise, or feel implausible. We can't afford to let most citizens erroneously "believe" that the Earth is flat, nor can we afford to let ourselves believe that we can run out of fiat.

In a fiat currency system, the public Currency Issuer's "Deficit" = the private Currency Issuer's financial savings, or financial equity.

(Public Appropriation) - (Taxes) = Currency Already Available for Private Sector Use.

Anything more comes only from MORE fiat.

The independent variables to manage are national capabilities, national output, national policy, and of course inflation/deflation .... but the currency supply itself is a purely nominal, DEPENDENT variable. Not so different from the # of numerals utilized by math students as they practice and apply their profession.

Fiat currency supply follows Public Initiative. There's no point in "balancing" public fiat, unless you want to freeze both US population and national capabilities. Good luck trying to apply that tourniquet to our own necks. We always pass out before managing to completely strangle our growing nation.

As Paul Meli recently noted, our entire stock of $US was on the order of $1Trillion at the close of WWII. Today, the stock of distributed $US is on the order of $60Trillion. Paul asks whom we supposedly "borrowed" that subsequent $59Trillion dollars from, when the US Treasury is the monopoly supplier.