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The American Iceberg: Debt, Inflation and Money

  • Publication Type: Books
  • Category: Travel
  • Date: 14-02-2013
  • Sale Price: $0
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  • It may be hard to believe, but it is nonetheless true that the iceberg of debt that we are looking at today was caused by the decision of framers of the Constitution in 1787 to deny Congress the power to issue paper money, called at the time "to emit bills." The First Congress followed in 1790 by giving the power to create money to private banks. These decisions, as explained in the book, caused debt to grow from $70 million in 1790 to $70 trillion in 2010; that's one million times larger.There
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