Toilet Paper?? This Is How The Dollar Could One Day Be As Valuable

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This week, we went up against the arcane debt ceiling once again. However, in a stunning display of maturity (?), our representatives in Washington have bypassed the usual opportunity for political brinksmanship and passed a clean debt limit increase bill. This means they are not, as usual, attaching other unrelated political footballs to the bill so they can play chicken with each other and with our country’s borrowing ability. Strange. Just months ago, that led to the infamous government shutdown (if you can really call what they did a “shutdown”), which mostly backfired for the politicians who backed it. Apparently, they aren’t going down that road again. Might they actually be learning something in Washington?

What our politicians should learn is that the debt ceiling is pointless if it keeps getting raised every few months. The law was originally intended to put a strict limit on Washington’s profligate spending and force politicians to prioritize and live at least somewhat within the reach of the nation’s means. It was only supposed to be raised in case of emergency – you know, like war.

Conveniently enough for Washington, we always seem to be in a state of emergency. And we are perpetually at war, so that excuse is always available.

Of course, our fiscal picture has always been alarming and is getting worse; but the non-partisan Congressional Budget Office has issued yet another warning that our government’s spending habits are putting our future at severe risk. According to CBO Director Douglas Elmendorf:

“The large budget deficits recorded in recent years have substantially increased federal debt, and the amount of debt relative to the size of the economy is now very high by historical standards. CBO estimates that federal debt held by the public will equal 74 percent of GDP at the end of this year and 79 percent in 2024 (the end of the current 10-year projection period). Such large and growing federal debt could have serious negative consequences, including restraining economic growth in the long term, giving policymakers less flexibility to respond to unexpected challenges, and eventually increasing the risk of a fiscal crisis (in which investors would demand high interest rates to buy the government’s debt).”[Emphasis added]

The CBO is not hell-bent on espousing conspiracies. Nor are they trying to sell you anything. They are simply looking at numbers and projections and stating as gently and matter-of-factly as they can that the country’s spending and debt load is unsustainable, that what we could be facing here is a Greece-style debt crisis. The course we are on threatens to overwhelm our ability to eventually pay our debt back, which will hurt our credit rating, which will raise interest rates, and which will create inflation.

A $4 trillion balance sheet at the Federal Reserve means that we have massive amounts of inflation pent up and waiting.

No country can accelerate down the course we’re on and survive unscathed in the long run. Greece is just one example of what can happen. Argentina is another; they seem to be in perpetual currency crisis mode. But no country is immune from the laws of economics. Not even us.

If you inflate your currency to oblivion, if you can’t control your spending, and if you regulate and tax your businesses out of business, you will eventually kill your economy. It’s simple mathematics.

We suppose it is possible that Washington will wake up one day and change course. It could happen. Politicians could have a “come to Jesus” moment and decide that in too many areas – in social programs or in foreign policy, for example – spending has gotten too wasteful, and that our fiscal house demands to be put in order. We suppose that could theoretically happen. We could restructure how government operates, elect all new people, and get on the right course. If you’re optimistic, maybe you are betting that way and hoping it happens before they run us into the ground.

If you’re a realist, however, you see the patterns in Washington and the incentive structure, so you’re likely betting otherwise and listening to what the CBO is saying… even if it falls on deaf ears in Congress.

The realists realize you need a solid footing in your portfolio – a real, tangible asset, like gold – to get by when the fiscal crisis hits. The dollar will be toilet paper at that point. Is that what you worked your whole life to end up with? Toilet paper? Please be smarter than that. Let’s get started today. It begins with a simple click here.

This post originally appeared on Western Journalism – Informing And Equipping Americans Who Love Freedom

Debt Ceiling Casts Boehner As The Ultimate Judas


It looks like John Boehner is feeling pretty good about maneuvering the Republican-controlled House of Representatives into a compromise with Barack Obama and Harry Reid on what they call the “clean” debt-ceiling extension.

At a celebratory news conference, Boehner began singing the upbeat Disney classic: “Zip-a-dee-doo-dah, zip-a-dee-ay,” even though Republicans now have zero control over how much debt Obama can ladle upon America. So much for all of Boehner’s tough rhetoric.

You may recall that the classic Disney song is from the movie Song of the South, in which seven-year-old Johnny is excited about a vacation to visit his grandmother’s Georgia plantation. On the plantation, Johnny meets Uncle Remus, who tells him stories “in his old-timey way.”

Interestingly, these stories about the Briar Patch have some striking similarities to Congress.

Take, for instance, the story in which Br’er Fox fabricates a doll out of a lump of tar and dresses it up with clothes. When Br’er Rabbit appears, he speaks to the tar “baby,” but gets no answer. Br’er Rabbit becomes piqued by what he comprehends as the tar baby’s lack of manners. So he punches the doll and in doing so… gets stuck. The more the enraged Br’er Rabbit pokes and bangs the tar “baby,” the worse he becomes stuck.

This tar baby represents a problem that gets worse the more one struggles against it… just like our current debt predicament.

You see, Boehner may be happy now; but by putting off the debt-ceiling controversy until after the election, he’s setting the nation up for more difficult problems tomorrow. This is what we call kicking the can down the road.

Neither side wants to deal with it again until after the new members are seated post election, making the clean debt-ceiling extension nothing more than an accelerated step toward the collapse of the global, dollar-led fiat Ponzi scheme.

An Ugly Forecast

On top of that, the extension could be setting the country up for challenges in the bond markets. You see, markets are based on confidence. Once confidence is broken and mass psychology changes from comfort to fear, it’ll all be over.

The United States currently owes more money than we can ever pay off with the current size of the economy. To successfully pay back the debt, the economy would have to grow much faster… and that just isn’t happening. We’re a nation without food lines only because we keep printing virtual food stamps onto SNAP cards, no matter what the propaganda says.

Last year, when the mislabeled “No Budget, No Pay” Act was passed, the U.S. debt was $16.394 trillion. Now, despite repeated government lies regarding “declining deficits,” the national debt has risen to $17.3 trillion. If the government is controlling spending, why is the debt increasing so quickly?

I predict that the U.S. government will have another year of unfettered access to the Federal Reserve’s printing presses, despite all the talk of reining in out-of-control spending.

The truth is that the jobs picture is terrible, the economy is crashing anew, and energy prices are rising. Looking just 12 months into the future, I don’t see the good times rolling on.

For his part, John Boehner should be gone soon, as either the Democrats will win and retire him, or the tea party will win and retire him. Let’s hope that he enjoys his last months in office, because despite the Speaker’s happy songs, the tar “baby” is stuck squarely on him.


This commentary originally appeared at and is reprinted here with permission. 

Obama’s Outrageous Debt Ceiling Plan

Money down the drain

Mired in controversy and scandal from every direction, Barack Obama will soon face another battle as the debt ceiling debate resurfaces next year. While he has relied on a congressional blank check thus far in his presidency, the most recent budget negotiation resulted in a government shutdown with much of the blame accurately aimed at the White House.

In response, Obama has called for an end to the entire concept of a debt ceiling. As usual, when this imperial leader encounters an obstacle, he demands it be removed rather than find a way to absorb the setback.

Calling the ceiling a “loaded gun,” Obama said the nation is “probably better off with a system in which that threat is not there on a perpetual basis.”

During an address to the Wall Street Journal CEO Council this week, Obama touted his economic record, though a cursory review of his policies over the past five years calls his self-congratulation into question. Despite claiming to have cut deficits, it is obvious this administration has a serious spending problem. Removing the debt ceiling, as arbitrary as it is, would only give a leftist regime more latitude in driving the nation further into crippling debt.

Short of fully removing the limit, a move favored recently by the Organization for Economic Cooperation and Development, Washington, D.C. has floated several other possible fixes to the recurring issue.

Whether by minting an unprecedented $1 trillion coin to offset the debt or any number of other outlandish ideas, leftists are dedicated to finding a way to unilaterally spend more nonexistent money.

Establishment Republicans have not been much better. Senate Minority Leader Mitch McConnell has proposed giving Obama the power to raise the debt ceiling instead of allowing that decision to originate in Congress.

As it stands, the debt ceiling is one of a decreasing number of tools at conservatives’ disposal. Naturally, Obama sees this – as well as any threats to his agenda – as an impediment that must be destroyed.

–B. Christopher Agee

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Video: Comedian Cusses Out Obama, “Pay Your $#!@in’ Bills!”

After Credit Downgrade, the Tea Party Must Dump Obama

Michael Reagan,

President Obama, the Democratic Party and its members of Congress have spent years blaming former President George W. Bush for the nation’s current economic woes, which is akin to blaming the bank’s tellers for a bank robbery, or for the dishonesty of their bosses, the bank’s executives who were looting the till.

Nobody in the liberal-dominated media bothers to note that in the last years of the Bush presidency Democrats controlled the Congress and thus had a death grip on the nation’s economy, having complete control over the nation’s purse strings. They spent (and spent, and spent) the yet-uncollected taxes of future generations — as well as our own — as if there were no tomorrow.

It wasn’t a Bush Congress that jammed the incredible costs of ObamaCare down the throats of the American people and their children and grandchildren — it was our spendthrift president and his allies on Capitol Hill doing their classic imitation of the legendary drunken sailors on shore leave.

It’s simply common sense to understand that spending money one doesn’t have in the hopes that the future will provide the needed funds is something like believing that some beneficent tooth fairy will come up with the money in the future.

Now the president and the national Democratic Party have suddenly discovered a scapegoat for the latest economic mess they have thrust upon the American people. They insist that the credit-rating downgrade was the fault of the Tea Party trying to control the nation’s purse strings. I’m not kidding. They really expect us to swallow this whopper as the Gospel truth.

They expect us to ignore the fact that the millions of Tea Party members are simply Americans, deeply and sincerely concerned about the nation’s economy and the tendency of the government to spend their hard-earned tax money on whatever scam strikes its fancy.

It’s time to place the blame for our economic malaise where it belongs — on the shoulders of the Obama administration and the Democrats in Congress.

Tea Party members have been the voice of reason, not the wild-eyed terrorists portrayed by the Left’s crazy spin doctors.

What would have averted the credit-rating downgrade and the subsequent turmoil in the markets? Precisely the spending cuts advocated by the Tea Party.

According to a statement by Jenny Beth Martin, a co-founder and national coordinator of Tea Party Patriots, the debt-ceiling compromise was….

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