The Federal Reserve was created in 1913 in the middle of a depression and quickly brought the country out of the depression through World War I. It is called massive spending and incurring massive debt to bolster a false economy. Following World War I there was a series of depressions, including the so called Great Depression and this cycle was not broken until World War II, which as far as spending was concerned, made World War I look like a trip to McDonalds.
Of course the debt accumulated was just as ginormous. In fact the debt was so huge it could not be paid. We all know how compound interest works and when you are financing using a fiat debt dollar, there reaches a point when it is mathematically impossible to discharge a debt. The truth is it has been mathematically impossible to discharge a debt from the creation of the first fiat dollar because of the interest attached.
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