US Constitution

THE GOOD, THE BAD, THE UGLY

I recall in 1966, The Good, The Bad, The Ugly (theme song) by the late Ennio Morricone.

These 3 words can easily be applied to America.

Conceptually, we started out GOOD in 1789. People reaping the benefits based on the hard work they performed, and the tangible assets they received and held.

Then, Congress wasn’t happy. Congress wanted more growth. They focused on instituting a fiat (a mere government decree that something exists) currency than actual hard assets like gold or silver reserve. This led to the financial crisis of 1907 and what we thought would be good, was the creation (in 1913) of the U.S. Federal Reserve Bank (the “Fed”), became the bad for America.

BAD, because the Fed was able to inflate the use of fake (fiat) money. Creating wealth without anyone needing to work. This was America’s panacea, or so we thought. During any financial crisis, there was the Fed, to create more fake money. No one had to work for it.

And because Americans continue to rely on fiat or debt, whether through the Fed’s fake money, or banks and others continually lending the U.S. Treasury money to support the Fiat habit, it has now become really UGLY.

Americans going about their daily routines, are not being rewarded for hard work, but are being rewarded for manipulating a fiat currency which has no substance. There are no true hard assets, like gold or silver, to support this debt (now well over $40 trillion in total), so the debt cannot be repaid WITHOUT SUBSTANTIAL PAIN.

REAL UGLY: For the first time (other than the covid pandemic) in America’s history, the U.S. annual operating deficit (FYE 9-30-2026) is $2 trillion.

EVEN UGLIER: We need an economic collapse to undo what we have, which we did not deserve nor earn. And the collapse will be quite deserving, as in the last 100 years or so, we benefitted and rode the runaway Debt train. Now we need to return to the GOOD (only reap a benefit when you work, not when you borrow). Yes, your children and grandchildren will suffer, because we, for over 100 years, were the real UGLY, spoiled American brats!