by Gerald Spencer

Created on: February 26, 2010

Is anybody sure that the US government will be able to borrow enough of the US dollars that we paid foreigners to make our imported US consumer goods back from China, India, Pakistan, Brazile and the other industrial nations to pay US medical doctors, nurses, hospitals, clinics and medical technicians with these borrowed US dollars to provide FREE MEDICAL CARE FOR ALL US CITIZENS AND MAYBE ALL OF THE ILLEGAL ALIENS ALSO?

Let us not make Communist China and other industrialized nations mad, because they might not loan our government any more money for our free health care.

But wait a minute, these industrialized nations do not loan the US government the US dollars that US citizens paid for the imported products that US citizens consumed, these industrialized nations buy freshly printed paper US bonds at Federal Reserve Auctions in return for the US dollars that they earned making US consumer goods, because they can use these US Bonds to purchase title to any and all of the privately owned businesses, factories, casinos, hotels, farms, land, ports, breweries, refineries, forests, ports, breweries, refineries, and other privately owned assets located in the USA that were created by previous US generations, since these freshly printed paper US Bonds are no longer backed or redeemed with gold from the US treasury. Foreign Industrialists will soon own everything of value in the USA, and then the US dollar will not have any purchasing power, and your life savings might only last a few weeks!

If the USA could re-industrialize, make the things that we consume, export some of the things that we manufacture and then the USA would not have to borrow US Dollars back from the industrialized nations for US government expenses, but re-accumulate the gold reserves in the US treasury at Ft. Knox and have the resources to expand Government to provide Healthcare Benefits, Unemployment Benefits, and other benefits with the income taxes provides by fuller employment with the industrial manufacturing jobs that the USA would re-create.

Over the past few decades, the US government has decided to destroy our manufacturing capability with "Free Trade" legislation and also destroy the technical database of technically oriented people that won WWII and created the economic power that the USA enjoyed for a few decades after WWII.  This scenario also applies to all of the other US government deficit expenditures.

The US government has created our current luxurious lifestyles by trading the assets created by these past generations for imported products and imported commodities, with the resulting mass factory closings and massive job relocations to foreign countries.  The US future is bleak unless we change our educational and foreign trade priorities.

These freshly printed paper US Bonds and other security instruments that the US government sells to people in industrialized nations have no value, except that they are redeemable for title to privately owned businesses, factories, casinos, hotels, farms, land, ports, breweries, refineries, forests, ports, breweries, refineries, and other privately owned assets located in the USA that were created by previous US generations instead of Gold.

The US government is going to have to start printing and selling these US T-Bills, US Bonds, and other currencies to foreign industrial manufacturers FASTER AND FASTER AT GREATER AND GREATER DISCOUNTS to get the foreign held US dollars back from foreign manufacturers in sufficient quantity to pay for the growing US government expenses that are in excess of our US federal government tax collections.

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