The explosive rise of the U.S. budget deficit and debt burden will lead to serious inflation down the road, says billionaire and Obama supporter Warren Buffet. The Congressional Budget Office predicts that government debt will peak around 54% of GDP in 2011.
"A country that continuously expands its debt as a percentage of GDP and raises much of the money abroad to finance that, at some point, it's going to inflate its way out of the burden of that debt. Every country that has denominated its debt in its own currency and has found itself with uncomfortable amounts of debt relative to the rest of the world, in the end they inflate. That becomes a tax on everybody that has fixed dollar investments", Buffet explains:
Of course if this projected scenario transpires the billionaire bankers of the Federal Reserve who engineered the inflation crisis will still remain billionaires, while only the proletarians will see their money deteriorate. The Federal Reserve Board of Governors consists of seven members--two posts are presently vacant.
The five seated members are: Front Row (L-R): Elizabeth Duke, Kevin Warsh, Ben Bernanke, Donald Kohn, Daniel Tarullo. Standing behind them are the appointed Presidents of each of the 12 regional Federal Reserve Banks occupying various cities. These "individuals" pictured here are not the real rulers of America, since they themselves have been chosen by the actual hidden overseers or the primary private Fed stockholder banks, just as every worthless U.S. President has been since at least 1913. The top eight stockholders of the Fed are revealed on page 13 of Gary Kah's book En Route to Global Occupation. These are the agents responsible for the current socioeconomic condition of American society. Whether one approves or denounces their actions or policies depends on one's particular psychology. One either asserts that the purpose of a government is to sustain a quality social order for its citizens or to transform it into an uncivilized crime-ridden dump. You be the judge.
"Our society is run by insane people for insane objectives. I think we're being run my maniacs for maniacal ends and I think I'm liable to be put away as insane for expressing that. That's what's insane about it." --John Lennon
"We are the priests of power." --1984