On Sept. 22, 2011 in a speech to business executives Navy Adm. Mike Mullen, chairman of the Joint Chiefs of Staff said, “Debt is the biggest threat to U.S. national security.” When the leader of the people famous for $800 hammers and $640 toilet seats has to lecture business leaders about the perils of deficit spending we know capitalism in America has jumped the track.
After World War I the world’s monetary system was in disarray. The victorious Allies sought to revive the gold standard. However the structure which had been put in place after 1918 collapsed during the Great Depression. Some economists believe that the world’s attempt to remain on the gold standard prevented central banks from expanding the money supply enough to revive the world’s economies. . . . Read Complete Report