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16 sats \ 10 replies \ @sb 22 Mar 2023
"With nations seeking to end the dollar’s status as the world’s reserve currency, the end of America’s disastrous experiment with fiat money, and with it the welfare-warfare state, could be on the horizon. "
He's such a master with words. And absolutely spot on here.
I wonder how different the world would be today if the 2012 Republican primary had gone differently...
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0 sats \ 9 replies \ @alevu 23 Mar 2023
I don't think that "master with words" apply to someone describing the US as a welfare state
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10 sats \ 8 replies \ @Undisciplined OP 23 Mar 2023
Why? The US has between 60 and 200 trillion dollars in unfunded entitlement liabilities. Sounds like a "welfare state".
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0 sats \ 7 replies \ @alevu 23 Mar 2023
Let's just say that most of the world would disagree with the American definition of a what is a welfare state. Funding private sector with public debt is not my definition of a welfare state
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0 sats \ 6 replies \ @Undisciplined OP 23 Mar 2023
That's not what happens. The bulk of Federal spending is direct transfer payments to individuals.
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0 sats \ 5 replies \ @alevu 23 Mar 2023
The bulk of social expenditure for the US is "old age" and "health". 2 area with very low social net if you're poor. Not what I call a welfare state
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10 sats \ 2 replies \ @Undisciplined OP 23 Mar 2023
Fine. Call it whatever you want, but the US spends more on direct government transfers than most "welfare states", so it's not an unreasonable label.
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0 sats \ 1 reply \ @alevu 23 Mar 2023
Not proportional to GDP, but in absolute number, possibly.
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10 sats \ 1 reply \ @sb 23 Mar 2023
Let's face it. The welfare state in the US is privileged boomers having their retirements and health problems paid for by young hard working people who have been born at the wrong end of the debt cycle. What a joke.
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0 sats \ 0 replies \ @Undisciplined OP 23 Mar 2023
I have no objection to this characterization.
Boomers won't be satisfied until they've consumed all of the resources from their own generation, their parents generation, and their children's generation.
Hopefully, they'll be out of the picture before they get to plunder their grandchildren as well.
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10 sats \ 0 replies \ @BBitcoinUSA 23 Mar 2023
Reading “End the Fed” by Ron Paul was when I first started realizing what fiat money is all about, it is a great book in my opinion.
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0 sats \ 0 replies \ @crybaby 23 Mar 2023
how is old ron now?
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0 sats \ 0 replies \ @kepford 23 Mar 2023
Ron Paul, legend! Nails it. Dude is still going strong.
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0 sats \ 0 replies \ @0359c62f34 23 Mar 2023
Nah. They are a sign of everything staying exactly like it is, Ron Paul. Don't worry, you will still be able to live better than most people.
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