by Robert Gore
Straight Line Logic
The debt dam is crumbling as central bankers and government officials frantically refill the escaping lake with eye droppers.
As background to this article, it would be helpful to read an article I wrote in 2015, “Real Money.”
The foundation of the world financial system is debt. Every currency in the world is debt whose value is not tethered to any real value. In a rare display of official truth-in-packaging, right there on the instrument itself a US dollar bill tells you it’s debt: Federal Reserve Note. A note is a debt. What do holders of Federal Reserve Notes, officially creditors of the Federal Reserve, get for repayment of the debt they hold?