Rand Paul: Janet Yellen ‘Will Be a Disaster for the Economy’

Published on Oct 31, 2013

The Peter Schiff Show (10/31/2013)
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1 comment for “Rand Paul: Janet Yellen ‘Will Be a Disaster for the Economy’

  1. November 1, 2013 at 6:02 am

    Even the dullest among us, once the structure is explained, can comprehend the grand state of monetary ignorance and lies flooding over America from all quarters … without exception.

    All currency is loaned into existence, solely as PRINCIPAL amount … AT INTEREST. That interest is an ethereal math function … until payment comes due in that same currency. So, where must it come from? The principal? Not hardly, because once all the principal is used for incremental amortization and debt service … there’s STILL more debt to be settled! Obviously, then, the ONLY way to raise the interest servicing funds is to ALSO borrow THAT into existence … as NEW principal … at now complex compounding interest.

    Any high-school senior will recognize that this is a steadily growing exponential progression that comprises an infinite co-generation of greater and greater currency inflation, fed by interest, fed by currency inflation … ad infinitum … also called a ‘Positive Feedback Loop.

    This is to point out that the ‘conservative’ faction is either dismally clueless to constantly propose (literally impossible) ‘spending cuts’, or in surreptitious collusion with their equally imbecilic ‘opposition’ … bringing me, Mr. Schiff, to ask why you enable this charade’s perpetuation?

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