The Wizard of OZ: U.S. Pulling Strings Behind the Curtain

By Bill Glynn

Don't we all wish we can go home and get out of the nightmare? The problem is there are no ruby slippers and this isn't the American dream. Our children are being born in debt with a plastic spoon in their mouths. I wonder if our founding fathers could have envisioned trillions of dollars of debt and much more coming... and minting trillions of dollars of new money. They are rolling over in their graves for sure! Here is a quote from Thomas Jefferson (quite profound): "I sincerely believe ... that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale." Sound familiar? It is. How can we continue to survive as a capitalist nation if we are gambling everything on the future prosperity? When is enough, enough? History will show that the time the U.S. started its decline was when we shifted away from the Gold Standard. So it appears the solution is to spend, borrow and mint money like there is no tomorrow and frankly there isn't. We are in big trouble; let me tell you right now. Not only has our economy received the one-two-three punches but we bet on ourselves to win. How can we possibly play Russian roulette and not think the bullet is going to hit us? The Wizard of OZ was feared, adored and turned out to be the man behind the curtain and the loss of his identity in that moment was devastating at first but in this case with the American dollar, treasury auctions, debt skyrocketing - we won't be as lucky if the curtain is pulled off. [more...]