Tag Archives: monetary policy

NIA Exposes Debt Ceiling Truth

National Inflation Association (NIA) hasn’t written about the whole debt ceiling issue over the past few weeks because in our minds it is completely irrelevant. Our elected representatives in Washington along with the mainstream media have been wasting thousands of hours of time and hundreds of millions of dollars debating a topic that has no meaning at all. The President, Senate, and House of Representatives are putting on a show to make it look like they care about cutting spending and balancing the budget. Except for a select few elected representatives like Ron Paul who care about protecting the U.S. Constitution and preserving what little purchasing power the U.S. dollar still has left, every other politician in Washington is putting on a complete charade in order to trick their constituents into believing there is a difference between the proposals from the Republicans and Democrats.

While our incompetent and corrupt mainstream media has been proclaiming there are major differences between the two bills proposed by House Speaker John Boehner and Senate Majority Leader Harry Reid, NIA believes John Boehner might as well be a Democrat and Harry Reid could easily pass himself off as a Republican. There are absolutely no meaningful fundamental differences between Boehner’s plan that was approved by the House of Representatives yesterday evening, before being killed by the Senate two short hours later, and Reid’s bill, which was just rejected by the House today in a pre-emptive vote before the Senate even had a chance to vote on it.

Both bills are estimated to reduce the U.S. budget deficit by approximately $900 billion over the next 10 years. Of the $900 billion only about $750 billion are actual discretionary spending cuts with the rest being an expected reduction in interest payments on the national debt as a result of either bill passing. When you have an unstable fiat currency that is rapidly losing its purchasing power and could collapse at any time, it is impossible to accurately project what our budget deficits will be 5 or 6 years from now, let alone 9 or 10 years from today. As far as the next two fiscal years are concerned, both proposed bills from Boehner and Reid are estimated to only cut spending by a total of about $70 billion in fiscal years 2012 and 2013 combined. Continue reading

Dollar & $ense

Every man woman and child in these United States of America owes $31,641 to the national debt. The interest alone is over $430 BILLION ( $1400 a piece ) with the national debt approx. 9.6 TRILLION and rising. No nation in the history of mankind is in as much debt as ours. Our children and grand children and possibly their children will have us to thank for that.

Famous economist Murray Rothbard, Henry Hazlitt and more recently, President of The von Mises Institue of Austrian Economics Lew Rockwell, understand inflating the nations currency (the dollar) makes our money worth less and less. Many don’t understand the Federal Reserve, or even realize their is nothing “federal” about it. The FED along with Congress, seem to be in love with famous British socialist John Maynard Keynes, who wrote a book in 1920 explaining whats happening to our wealth. Keynes said “by a continuous process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.” You can do something about it though.

Come and watch the documentary “Dollars and $ense” with other liberty minded people Thursday, January 29th @ 7pm in the downstairs meeting room at the Xenia Library. The meeting will last approximately 1hr.