Argentina Is Beating the U.S. at Fixing Its Money. Here’s How to Protect Yours
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| By Jim Nelson |
The U.S. debt now totals $117,688 per U.S. citizen — every man, woman and child.
The federal budget deficit now tops $2 trillion, which fuels the total debt outstanding of around $40.5 trillion.
Interest payments on this debt alone cost the government $1 trillion.
All of these numbers come from probably the scariest website on the internet: usdebtclock.org.
But the number that matters most to you and me is how much our own money is worth. And that number is sadly heading the other direction.
Of course, this isn’t news. We’ve all felt it. We’ve read the headlines about gas and food prices. And we know this won’t stop unless someone does something about it.
That’s why our publisher, Dallas Brown, kicked off something big this week.
On Wednesday, he wrote:
“A country that has wrecked its own money for generations stood up and said: enough.”
“That is courage. And it is a huge step.”
He wasn’t talking about the U.S.
He was talking about a country that’s handled its currency worse than just about anyone — Argentina.
And even it is trying to do better than us right now.
On Thursday, Dallas quoted Thomas Jefferson saying, “Public debt [is] the greatest of dangers to be feared.”
Dallas continued:
“In his Farewell Address, George Washington warned the nation to avoid ‘the accumulation of debt’ and to stop ‘ungenerously throwing upon posterity the burden which we ourselves ought to bear.’
“Washington and Jefferson would not recognize what we’ve done.”
Friday, we learned the cost of this:
“When a government owes that much, it has two choices. Make real cuts. Or quietly print money and let inflation shrink the debt.
“Guess which one Washington picks.
“That’s the double tax. You’re taxed once when you earn a dollar. Then you’re taxed again as that dollar quietly loses value in your savings account.”
Yesterday, Dallas let you in on why this is so near and dear to our hearts here at Weiss Ratings:
“The Weiss family has been fighting for honest money for almost 100 years.
“In 1959, Martin Weiss’s father, Irving Weiss, started the Sound Dollar Committee to help President Eisenhower balance the budget and stop inflation.
“Irving didn’t have a TV network. He didn’t have a political party. But he had conviction. And people answered.”
We’re asking you to do so again.
I encourage you to read these four missives from our publisher again or for the first time here, here, here and here.
Then, add your name to the Declaration of Dollar Independence here.
After that, come back and take note of the only other salvation you have for inflation … outearning it.
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Have a great weekend!
Jim Nelson
Managing Editor, Weiss Ratings Daily
