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New NIA Article
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*NIA Supports Peter Schiff for Senate*
The National Inflation Association is not a political organization, but it
is our belief that we must support Peter Schiff and encourage him to run for
Senate in the State of Connecticut.
The U.S. is on a path towards hyperinflation that will wipe out the wealth
of all Americans who don't prepare now. The Obama administration along with
Congress have adopted a policy of endless bailouts and stimulus plans that
won't ever produce an economic recovery, but will instead lead to a currency
crisis and a worthless U.S. Dollar.
Today in Congress, Ron Paul is the only man who supports a true free market
economy and a sound currency that is backed by gold. We need Peter Schiff to
join Ron Paul in Washington and help spread the message that we can't solve
an economic crisis that was created by too much government spending and
debt; by spending more, increasing the size of government and expanding the
national debt.
Peter Schiff understands that if our government does not reverse course
immediately and drastically cut government spending, eliminate Wall Street
bailouts, and let the free market work for itself; hyperinflation will be
unavoidable and the U.S. will become the next Zimbabwe.
Peter Schiff is our only hope to achieve real change in Washington.
President Obama campaigned for change, but instead took Bush's mistakes and
multiplied them. Bush passed a wasteful $200 billion stimulus plan, so Obama
wasted $800 billion on his own stimulus plan. Bush had a budget deficit of
nearly $500 billion, now Obama's budget deficit this year will likely
surpass $2 trillion.
Both the Democrats and Republicans are responsible for getting us to a point
where it is impossible to pay back our $11.4 trillion national debt. Sure,
the U.S. has a GDP of $14 trillion, but more than 70% of it is consumer
spending. Our largest exports, besides U.S. Treasuries, are scrap metal and
paper we send back to China so that they can produce more junk for us to
consume with the money they lend us.
Up until today, the U.S. Treasury has been able to pay back its old debt
plus interest by issuing larger amounts of new debt to an increasing supply
of foreign lenders. Peter Schiff equates this to a ponzi scheme and believes
the U.S. will either default on its debt or monetize it by having the
Federal Reserve print trillions of dollars out of thin air, which will
destroy the savings of hundreds of millions of Americans.
We must allow the current recession to run its course and rebuild a real
economy from the ground floor. In order for the U.S. to once again prosper,
Americans need to save their money and produce real things to export to the
rest of the world. However, we can't achieve this until we have a sound
currency that is backed by gold; and we will never have a sound currency
without people like Peter Schiff in Washington.
*Please spread the word about NIA and have your friends subscribe for free
at http://inflation.
*
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