PBI Chair Ellen Brown’s latest article in ScheerPost offers ideas for how we can escape the abyss of the US debt ceiling, now further cratered by the Federal Reserve’s aggressive interest rate hikes.
Ellen writes:
Our forefathers turned their debts into currency. That Constitutional approach could work today. …
The global debt cycle has reached the stage where, historically, a major “monetary reset” has been required. In 1913, it was done by instituting the Federal Reserve to backstop a banking system unable to meet withdrawals in gold. In 1933, it was done by taking the dollar off the gold standard domestically; in 1969, by taking the dollar off the gold standard internationally; and in 2008-09, by bailing out the banks with quantitative easing.
What about today?
Image by DonkeyHotey.