Originally posted by no1marauder
Considering that Friedmanite central banks have made it their prime mission to keep inflation and interest rates as low as possible for the last 30 years, the assertion is bizarre.
So what? There is still inflation. The fact remains that the dollar is decreasing in value every day, and has been for some time now. All that they are doing is buying time via a shell game. So tell me, what if government was asked to pay back all of its debts today? That would be impossible How then can you say it is NOT a ponzi scheme? All you have done is show how they are scheming to keep the current system viable longer.
I suppose they are buying time to set up a new monitary system. So what will it be? There are clues out there, such as this article suggests.
http://timiacono.com/index.php/2010/10/13/should-the-u-s-government-sell-its-gold/
In the article it states, "But returning to the gold standard would reinstate a system associated with unstable prices, wages, output and employment. It has not existed for a century, and will not make a comeback. Official discussions of the reform of the international monetary system do not include any advocates of a return to gold, and the IMF articles of agreement prohibit it."
So it won't be gold.
From my perspective, fiat currency was created for one purpose, which is to empower government to spend what it does not have. This is the real reason we will not see another return to gold. For you see, a currency based upon gold demands that you balance budgets. This is simply out of the progressive equation.
My guess is it will be another attempt at a fiat system.