Let’s say that you have the ability to print your currency using your computer printer, and every merchant accepted your printouts as a valid exchange for goods and services. You need to pick up your dry cleaning? You printout a $20 bill and your cleaners hand over your garments without question. Same would be true for your mortgage, groceries, car note, etc. Your creditors even accept your printouts as payment on your debts.
Given this, how can you ever be broke? Answer, you cannot be broke. The U.S. government is not in debt simply because it can create currency to pay off the debt, and our creditors gladly accept our currency as payment on our debts. You see, the world needs our dollars because the world needs oil, and in order to buy oil, you need dollars, which means that the world needs to stockpile dollars, and that means that the U.S. can print all of the money that it wants without incurring massive hikes in interest rates to attract lenders.
A few days ago, I speculated that they might have been able to provide support from Sigonella. Bing West confirms it:
In the past, presidents had taken immediate actions to protect Americans. In 1984, President Reagan had ordered U.S. pilots to force an airliner carrying terrorists to land at Sigonella. Reagan had acted inside a 90-minute window while the aircraft with the terrorists was in the air. The Obama national-security team had several hours in which to move forces from Sigonella to Benghazi.
Fighter jets could have been at Benghazi in an hour; the commandos inside three hours. If the attackers were a mob, as intelligence reported, then an F18 in afterburner, roaring like a lion, would unnerve them. This procedure was applied often in the Iraq and Afghanistan wars. Conversely, if the attackers were terrorists, then the U.S. commandos would eliminate them. But no forces were dispatched from Sigonella.
“But tampering with the environment is risky, they say, so any experiments must be carried out responsibly and transparently, with the involvement of the scientific community and proper governance.”
I’m inclined to agree, but I’d be more inclined if climate scientists had demonstrated more professional responsibility themselves.
Other than electricity, they aren’t used to measure inflation. Which is little consolation to people on a fixed income, who still have to purchase them.
