Forum Post: Let inflation rip
Posted 12 years ago on Nov. 11, 2011, 11:24 a.m. EST by ronimacarroni
(1089)
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I say we print money like crazy and use it to pay the debt.
The only people who will lose are the 1% whose hoard will lose value and will not be able to impose austerity measures on the country.
The value of the dollar will drop and you will hurt the retired people living on a fixed income. Do you see why?
Well the government would be able to raise their social security because we would have no debt or something.
but that money would be worthless too.
If you print twice as much money, the value of the dollar drops in half. What it takes today to buy for a dollar will take 2 dollars tomorrow.
So if you are retired and living off of $200,000 and expect that to last the rest of your life and the value of the dollar drops in 1/2, you have 1/2 the buying power. You better plan on living 1/2 as long.
BTW, is that your plan? To make everyone dependent on the government? That is what scares the hell out of conservatives.
It beats privatizing all government agencies and giving this country to the monocle top hat wearing overlords in a platter.
Ummm...They have already bought Gold and Silver...They are way ahead of you.
I doubt they have ALL of their wealth in precious metals