14 August 2015 AD/1 Elul 5775
At present rate of growth of national debt, in year 2020 projections indicate that we will need 20% of the GDP of the ENTIRE PLANET just to finance our debt.
Just as the rich rule the poor, so the borrower is servant to the lender. – Proverbs 22:7
To gain some understanding of the effect of fiat currency inflation, consider the history of the price of bread in our country in modern times.
Average Cost Loaf of Bread 1930 to 2013
1930 9 cents, 1940 10 cents, 1950 12 cents, 1960 22 cents,
1970 25 cents, 1980 50 cents, 1990 70 cents, 2008 $2.79, 2013 $1.98
Today, the average price of a loaf of bread is $2.26.
“The purchasing power of gold has not diminished since Biblical times. According to the Old Testament, during the reign of King Nebuchadnezzar, an ounce of gold bought 350 loaves of bread. Today, an ounce of gold still buys 350 loaves.” – Dr. Claude Mariottini, Old Testament professor
US Dollar price increases are a function of inflation, not increased value.
I am not advocating you exchange all your money for gold. Instead, let’s demand Congress reign in spending as though our “house” is on fire. Yes, ending runaway spending is as desperate a need as extinguishing a house fire.
Senator John Cornyn, Sen. Senator Ted Cruz and Rep. John Ratcliffe represent Texas Congressional District 4. You can count on Ted Cruz and John Ratcliffe to agree. However, they must hear from YOU. Members of Congress highly value your emails, letters, faxes and phone calls, because your messages are the “ammunition”, the evidence of the broad will of the people to support their individual and collective legislative actions. Click on the above links to contact your Texas Delegation.