Do not be surprised if, a year from now, prices are 20 percent or more higher than they are today and that tens of millions of elderly people on fixed incomes suffer greatly as a result.**************************************
Washington- An emergency stimulus package to bail out the US economy amid the coronavirus pandemic will total $6 trillion — a quarter of the entire country’s GDP, the White House said Tuesday.
Trump administration economist Larry Kudlow said the package would include $4 trillion in lending power for the Federal Reserve as well as a $2 trillion aid package currently being hammered out by Congress.
“This package will be the single largest Main Street assistance program in the history of the United States,” Kudlow said at the White House coronavirus task force briefing Tuesday evening. *****************************
The recently enacted “stimulus” legislation costing $6 trillion can be paid for only by the printing of new and additional money in that amount, which will represent an increase in the M1 money supply to substantially more than double its present height.
This amount of increase in the money supply is sufficient by itself to double or more than double prices and totally destroy the finances of the elderly, if not by next year, then over the next few years.
With today’s mentality of bottomless economic ignorance and reckless irresponsibility, the plight of the elderly will likely be met by still more “stimulus.”
We are in process of destroying the dollar.
The long-run solution is to deprive the government of the power to create money, which can be accomplished by restoring the gold standard and requiring that the issuance of new and additional paper money be limited by the increase in the supply of gold.
The immediate solution is to go back to work and end the seeming need for trillions of additional paper dollars, the consequences of which will be worse than any the Coronavirus could produce.
The lockdowns are in violation of The First Amendment’s prohibition of laws violating the freedoms of religion and of assembly. They are also in violation of the Ninth Amendment’s implicit recognition of the right to work.
An Ohio judge deemed the state’s lockdown in response to the Chinese coronavirus illegal, and stated that the state’s top health director “acted in an impermissibly arbitrary, unreasonable, and oppressive manner.”
Lake County Common Pleas Judge Eugene Lucci ruled that Amy Acton, the director of the Ohio Department of Health, is prohibited from punishing nonessential businesses that defy Ohio’s orders to stay closed in response to the Chinese coronavirus pandemic, Cleveland 19 News reported.
Organizing should be started on a million-man march on Washington to demand the end of lockdowns and the government’s ability to create limitless quantities of paper money.
Let all who are at risk from the Coronavirus take precautions. But do not consider as a precaution the destruction of money and the economic system.
We must not allow trillions to become the new billions, and then the new millions, and the paper dollar to become the new toilet paper.