The following linked interview by Mario Innecco of Dr Mark Thornton, Senior Fellow at Ludwig von Mises Institute sheds light on the core problem facing the Western world.
“Stopping the [Fed/central bank] printing press, will dole out the pain, most heavily and most directly, on the people who are responsible and who are best able to absorb those pains. The millionaires, the billionaires, and you know we’re fast approaching an era we are going to have our first trillionaires.
And these are people who are not only benefiting from the Fed, but are also benefiting from government contracts, you know whether that’s Amazon or Google, or ah Larry Alison or Palantir, ah you know all those government contracts have to go away and the government has to basically completely stop doing, most of what its doing.
You know, including ah you know social security has to morph into a welfare program that helps out people who otherwise have no means of support.
Ah basically, um you know, in an, in a national government bankruptcy situation, that’s the general direction, ah that things, that things would have to take place. So just imagine the government going through bankruptcy process, and a prioritisation of the remaining assets and income and expenditures, you know, what has to go, ah and what needs to stay, um is a matter of priorities, is a matter of legal obligations.
Ah basically but um, yeah its going to be painful, but even if you continue, ah to print out money to pay for all these things that does not reduce the overall pain, it just increases it and spreads it out over a longer period of time. And unfortunately if we don’t do something soon, we’re, we’re highly damaging the current and future generations, of economies around the world.
People wonder well why aren’t people having children? Why are, you know why is the population, why is the working age population shrinking?
Well its because, this generation and previous generations have dumped an enormous amount of obligations onto the future, so if you’re having children you’re birthing them into systems which place enormous burdens on them, thats got to stop or you know, the entire race is at risk.
Um and you see the demographic problems that are emerging, causing you know strange political reactions in Europe, in UK, in United States, even in China, Japan, ah you know ah, so these have wide ranging effects, its not just your personal pocket book issues, the, what the fed has been doing, what central banks have been doing, what the fiat monetary system, and this runaway government debt has been doing, is really undermining the very basis of human civilisation.”
Link:
https://youtu.be/sp2mUALpaM0