We’re told to learn from history, or we’ll repeat our misfortunes.
Looking back to Germany in 1918 there are glaring parallels to America today. Germany had no precious metal reserve (gold? silver?) to back her currency after the defeat in the First World War.
Congressman Ron Paul has called attention to this over and over, but he cannot get the attention of the majority of the public.
Those in power in Germany, decided to “monetize” the debt – exactly what the U.S. is doing now; but there’s another term for it – – – bankers call it “funny money,” called such, because it’s near worthless. The United States is printing money like never before; we too have nothing to back it.
Many people who paid attention in World History classes will remember the story of the Weimar Republic (Germany) ….. I didn’t, but you may remember what I do – the story about when the populace had to take a wheelbarrow full of money to the store just to purchase a loaf of bread!
After the First World War, the Allied nations demanded their money and when the “funny money” was found to be worthless, goods were demanded instead. Germany’s infrastructure, their manufacturing base was stripped and taken to neighboring nations, leaving them with massive unemployment! Sound familiar?
What “goods” could America pay the creditors with? Property is all I can think of ….. we do have millions of foreclosed homes …..
If our creditors decide not to accept anything but money backed by good collateral, they will most likely refuse to provide us the goods we need – – – possibly, OIL!
What would that do to our economy? Just look back at the Carter years and multiply it exponentially!
In Germany, it was the working class which was hurt! In one day, their money was devalued 2000% and it continued to grow worse!
What was the outcome? A new political party came to power. They didn’t promise a chicken in every pot …. rather, it was a Volkswagen in every garage.
It was the National Socialist Party – the Nazis!
Some will tell you that you’ve not been taught the background of what happened there, because it was to be duplicated here, … now. Does that really matter? Whether it’s intentional or not, one can already see the calls for the first step of Fascism — which is always the shutting down the voices of opposition.
In fact, West Virginia Senator Rockefeller today, called for the extreme left and right media (MSNBC and FOX NEWS) be shut down ….. this, not long after government-funded National Public Radio fired their lone liberal commentator who was brave enough to also speak on FOX.
Fascism has come to America, but it has disappeared from view …. at least it has, for an America which only demands to have their weekend off and their sports programs to entertain them ….. and the media is complicit!
Where’s Joe McCarthy when you need him?