Forum Post: We pay interest to bankers for every dollar our treasury prints. The constitution says we can print our money at no cost to the american people.
Posted 12 years ago on Nov. 21, 2011, 2:24 p.m. EST by stillkoolin
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This interest is why our national debt is 14 trillion
Actually there's always a "cost" for money. Even money the government prints. It increases the money supply, and will ultimately show up as inflation.
Inflation is a tax on responsible citizens like myself that live within our means and save money for the future. It destroys the value of our savings.
Inflation is financial aid to the irresponsible folks that get into debt beyond their means.
Unfortunately there aren't a lot of options for the government to dig us out of the hole we are in. One method available is to simply print the money to pay the debts.
Then after the dollar is essentially destroyed as a currency; invent "New Dollars". Trade old dollars for new dollars at 100 to 1. This is what Israel did back in the 80s when they were faced with the destruction of the "Old Shekel" due to.... you guessed it... the banks!