Politics

revolutionary-war-patriotism-and-birth-of-the-united-sates-of-america-concept-with-closeup-on-the-original-13-star-american-flag-known-as-the-betsy-ross-stockpack-adobe-stock
Revolutionary war, patriotism and birth of the United Sates of America concept with closeup on the original 13 star American flag known as the Betsy Ross
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July 4 Has Always Been About Resisting Tyranny, and This Year Is No Exception

America is the only nation in human history that was completely born of noble and deeply spiritual principles: that all men are created equal, that they have been given by God certain rights that cannot be taken away by any man or earthly authority, and that those unalienable rights combine to create and protect a thing called freedom in life. As a result, Americans have always been free to pursue happiness, worship God, speak publicly about their views, and, of course, choose their leaders. Read More ›
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gold bar concept
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Time to Take Sound Money to the Federal Level

The idea of “Sound Money” — this means using gold and silver as money — has been persistently popular among the states for over a decade. Beginning with Utah in 2011, one state after another has removed barriers and impediments to using gold and silver, and digital or other alternatives based on gold and silver, in a monetary role. With over 40 states now having passed some kind of Sound Money legislation, it is now time to take on the federal government. Representative Alex Mooney (R), of West Virginia, recently introduced the Monetary Metals Tax Neutrality Act, HR 8279, into the US House. The bill aims to repeat, at the federal level, what has already been accomplished in many states. Read More ›
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Printing US dollar bills. Concept of United States economy, buying and selling banknotes in the worldwide. Global finance and business.
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Averting Insolvency Is a Key Battle America Must Win

With all the problems America is facing, the one that gets the least attention might be the most critical. The speed at which the United States will hit the wall of an insolvency crisis and collapse is approaching very fast. 

The U.S. is currently spending more than $2 billion a day to service its debt, and that interest we pay on servicing the national debt is the fastest growing part of the federal budget. It will likely exceed the entire defense budget within a year. The constructive law of compound interest has been turned upside-down and we are now on a downward spiral of escalating compound debt and interest payments, wherein the U.S. government is locked into borrowing ever more money to pay the interest on new and previous debt obligations. 

In the context of our history this has happened extremely fast. Just two decades ago, the U.S. national debt stood at about $4 trillion, which was at that time 36% of our GDP. Today, U.S. national debt is $34.2 trillion, which is about 126.5% of U.S. GDP—an increase of 755% in just twenty years. 

What is the significance of the debt-to-GDP ratio? After the dollar was taken off the gold standard—which is to say no longer backed by gold—in 1933, it became a “fiat” currency backed only by the full faith and credit of the U.S. government and the economy of the country. GDP replaced gold as a measure of aggregate assets backing the currency. And the same is true for all countries as fiat currencies are now almost universal.

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Powell and Perry Interview 2

How China’s Economy and Trade Policies with the U.S. Have Changed

Part two of Discovery Senior Fellow Scott Powell's three-part discussion with China expert Bill Perry. Powell and Perry discuss how the economy of China has changed and why it’s necessary for the U.S. to have trade policies that protect our intellectual property and demand fairness and reciprocity. Read More ›