How could anyone be so ignorant?

Anyone who lived through the Great Depression OR the dirty thirties (many don't know there's a big difference between the two) would never agree with this hairbrained idea.  NO ONE wants to go through that kind of agony and destruction ever again.

https://nationalinterest.org/feature/the-coming-crack-boom-16911
Do YOU know the difference between them?  Well, git yer ass busy and look it up. 

It did not last 11 months, it lasted 10 years, in some instances longer. 

QUOTE FROM ARTICLE AT ABOVE LINK:

"Imagine lending money to anyone, even the Swiss government, for fifty years, ultimately getting back less than you loaned … and paying for the privilege!"  This is "ala ol' joe biden.  It's exactly what's happening now via china.


" . . . malinvestment built up since the beginning of the fiat money era. That era began in August of 1971. That is when Richard Nixon, informed that U.S. gold reserves were precipitously declining as a result of President Johnson’s March 1968 action to reduce the gold reserve ratio from 25 percent to zero, “temporarily” suspended the convertibility of the U.S. Dollar into gold. That “temporary” measure has been in effect for forty-five years. (MINE: Temporarily?? It's been 52 years! This article was written in July 2016, that was 7 years ago! I graduated high school in 1971, and I remember reading in the newspapers about this although I had no idea what the ramifications would be.)

Finally freed from the constraints of what they could not print (i.e., gold), central bankers and their cronies in government, finance and big business were given a license to debase all formerly hard currencies. (Such currencies were “hard”, as they were linked, via the Bretton Woods arrangement, to the dollar, which was backed by gold.) And debase they did: they replaced real investment capital (i.e. actual savings) with cheap, invented credit; they replaced market-derived price (of money) discovery, i.e., market-derived interest rates, with central-bank-proclaimed interest rates."

With banks setting the interest rates, the people didn't stand a chance - - and still don't. We're right back where we started.  Goes to show how easily people are persuaded to do the WRONG things.  Credit cards are one of the "wrong things" most people do now.  Not me, man, I don't DO credit cards.