Dear Editor,

Here we are, circa 2019 and not much to say, except for the fact that nothing has changed in any real way (at least at the national level).  As of the writing of this letter, our borders are still over run, and we are now 23 trillion dollars (that is 23 thousand billion dollars) in treasury debt. While continuing to add to this at the breakneck speed of over a trillion per year, with no end in sight

Because of the amount of debt our government has now accumulated, interest rates on CDs and savings accounts will continue to be in the toilet from here on out. Long gone are the days when you could make money off your savings or retire and live off the interest from your CDs. Instead, we pay the bank to keep our money rather than the other way round. All of this thanks to our government and its continued deficit spending via our elected officials. Which has, in turn rendered the legitimate selling of our debt (i.e. treasuries) as obsolete due to the resulting permanent low interest rates so we can make the payments on the existing debt in the first place. 

Now the only true large-scale buyer of American Federal debt, more or less, are our friends at the Federal Reserve (our central bank). Who are simply printing the money out of nothing, and purchasing much of our yearly deficits either directly from the larger banks or “under the table” through other countries (so it can appear as if we are still selling our debt). As the printing continues, the dollar will in turn continue to erode in value until the breaking point.

As of Sept. 16, the FED has recently begun giving the major banks in the United States what is known as “repo loans” amounting to an average of 65 billion or more per night. This is really just a repeat of the 2008 bank bailout, but done in a covert way so as not to alert the public. As a result the Federal Reserve has printed around 600 billion in fresh cash in just a little under two weeks! (Sept. 27). According to the FED this madness is set to continue through Oct. 10 for a possible total of 1.8 trillion dollars of freshly printed cash! 

What is most likely coming to this country in regard to its economy will trump (no pun intended) practically everything else, whether they be a presidential impeachment, environmental and or social issues. Even those who have prepared will be “caught off guard!” I hate to say it, but “get set for the crash!” It will be like nothing we or our children or churches have ever been through, and it will more than likely reach right down into our private rural communities, and change our tightly-controlled lives forever. 

As the federal government bankrupts due to its debt, individual states who are also deep in debt will most likely follow suit and it will be up to the local churches to provide for the poor rather than the federal or state governments. Moreover, because of this situation there may well be a whole new generation of leaders within the church who will be used mightily during this time. Once again, the big reset of our monetary system and way of life is “just around the corner.”

Sincerely,

Steven Howard

Monte Vista