Thread by @APhilosophae

Thread.
1) How it works:
-Govt needs currency
-Treasury prints bonds
-Fed creates money out of thin air and buys bonds from govt
-Govt now has new currency created out of thin air by Fed
-Taxpayers owe interest & principal on bonds, & pay fee to Fed’s shareholders = public debt

2) How it should work
-Congress makes annual budget
-Tax revenues are collected
-Budget shortfall (deficit) is new debt-free US Notes issued by the US Treasury itself
-No bonds or US Public Debt required to issue our own currency

3) US taxpayers paid $562 Billion in interest alone in fiscal year 2021 to issue our own currency out of thin air in the form of bond debt.

4) $13 Trillion paid in interest just to issue our own currency since 1988.

Are Americans ever going to realize this fraud? That their children's great grandchildren who are decades away from ever being born are bound to a life of debt and servitude?

5) Over 40% of all U.S. dollars in existence were printed between May 2020 and May 2021.
bitcoinmagazine.com/culture/histor….

6) To hammer the point home, this means that anyone holding U.S. dollars in that time period saw the value of their wealth drop by over 40%. Going back in history even further, since the dollar was created, it has lost over 96% of its value.

7) In 1933, President Roosevelt ordered all gold to be turned into the Federal Reserve for the set price of $20.67 per ounce. In 1934, the govt arbitrarily increased the price of gold to $35 an ounce, effectively increasing the gold on the Federal Reserve’s balance sheets by 69%.

8) The government held the $35 per ounce price until August 15, 1971, when President Richard Nixon announced that the United States would no longer convert dollars to gold at a fixed value, thus completely abandoning the gold standard. The bitcoin article shows what happened next

9)

10) @BitcoinMagazine :"Under sound money systems, families have tighter bonds, communities grow stronger and individuals have the capacity to explore the arts, sciences, engineering and literature in a way that leads to breakthroughs that will benefit their societies as a whole."

11) I don't care whether the above happens under a bitcoin standard or any other. What I care about is not indebting people who won't be born for another 80 years to a crumbling establishment because beltway insiders and globalists demand more and more. We need an honest system.

12) Be kind to your neighbors.