Political Quotes

“this chart shows the amount of money that we have in circulation in dollars. And, as you can see, that up until recently there wasn't a great deal of increase in the amount of money in circulation. But, just in the last few years, last couple of years, it has shot straight up. Straight up. That means that we are seeing an inflationary trend unparalleled in American history. But that is not the end of it. People need to know that their money is going to buy a lot less if we continue down the road we are on. Now just to let you know where some of the money is that is not on this chart, China has given us about $690 billion in loans. And, just this week, leaders in the Chinese government said that they were very concerned about the value of those loans being eroded by ``reckless policies'' in the United States of America. The U.S., ``should make the Chinese feel confident that the value of the assets at least will not be eroded in a significant way.'' And Secretary Geithner of the Treasury has been told this. And yet he said just today that there could be as much as $2 trillion printed and put into circulation, at least a large part of it, because who's going to loan us money when the Chinese, who are the biggest holders of our debt, are saying that they want guarantees that the value of the currency is not going to go down. And so who's going to buy these loans? The Social Security trust fund has an awful lot of that money, and it's already bankrupt.…”