As most of you already know, Obama and Congress have imposed massive spending bills and programs that have stretched our long term debt obligations to $85 trillion. The question is how will we pay for it.
Even huge tax increases will not cover this massive sum.
The only way we can pay our debt to china and other bondholders is to print more federal reserve notes, which of course, are not backed with anything more than a "promise" we cannot even keep. Some day, we could follow 1920's Germany, Mexico, Argentina, and Zimbabwe down the road to hyper-inflation.
Already, some nations are wanting to change from American dollars to another currency for international trade.
Because of the current recession, I am expecting money to hold its value for the next year or two. But after that, who knows?
The question is: When do you think inflation of the American dollar will reach 100% or more (lose at least half its value) in a single year?