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America's Financial Decline and Lack of Self-Restraint
President Trump could have switched to a hard currency policy, but has decided to continue soft money policy, lack of national discipline, and the rejection of the rule of law.
By: Dr. Steve Johnston
Rampant devaluation under the Sung and Chin dynasties in the early 1200s preceded the invasion by the Mongols. The Mongol government reinstated a hard silver currency. When the Mongols debased the paper currency, Chu Yuan-Chang drove out the Mongols and started the Ming dynasty. Soft money eventually doomed the Ming dynasty in 1644.
John Locke promoted the rule of law and hard currency in England, and help create the stability which resulted in the United Kingdom. The stable dollar, and the absence of taxation enabled explosive growth in the U.S. When the U.S. stopped redeeming the dollar in gold, the world was placed on a fiat paper money system. Federal Reserve Chairmen Greenspan, Bernanke, and Yellen have created financial bubbles, and have destroyed much of the value of the U.S. dollar.
President Trump could have switched to hard currency, but instead has decided to replace Janet Yellen with Jerome Powell, who is a proponent of soft money. It appears this will doom the U.S. to continued financial decline. The U.S. could not defeat Viet Nam. The U.S. seems unable to stop North Korea and Iran from developing nuclear weapons. A nuclear weapon exploded over our country, could deliver an electromagnetic pulse which could substantially destroy our electric grid, fry electronic devices, and return the U.S. to the dark ages. Only prayer and repentance can stop our decline.
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Dr. Steve Johnston