April 17, 2011 - Freedomain Radio - Stefan Molyneux
01:07
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| Time | Text |
|---|---|
| Hi everybody, it's Stefan Molyneux from Free Domain Radio. | |
| This is the state of the nation. | |
| To pay debt, the government borrows dollars and it prints them. | |
| U.S. government debt has risen by $3.62 trillion in just over two years. | |
| This is an increase of 61%. | |
| Over the past four years, Ben Bernanke has created 60% of all of the money available to the US economy out of thin air. | |
| The dollar has lost over 95% of its purchasing power since the Federal Reserve was created in 1913. | |
| This process is only accelerating. | |
| Some experts predict that current US dollars will only retain half their purchasing power in less than a decade. | |
| On the tax side, those who are earning $62,000 or more pay 4 out of every $5 collected by the IRS, while on the other side of the scale, about 50% of adult Americans don't pay any taxes at all. |
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