Dollar Inferno

Roosevelt attacked the court itself. He argued that “nine old men” should not be allowed to stop progress. He tried to pack the court with more justices ready to do his bidding. This was too much for Congress to swallow; even his vice president was against it. The amendment to increase the number of Supreme Court justices failed.

But then, the old men themselves failed. They died. And as their mortal envelopes got packed in the dirt, new justices were appointed – such as Felix Frankfurter and William O. Douglas – who were willing to go along.

This time there is practically no resistance. President Obama enjoys support, both wide and deep. The public is behind him. Congress is on his side. And the courts have long since given up trying to limit the power of the federal government.

Everyone wants something for nothing. And everyone believes he can get it from the feds. As a result, we’re looking at trillion dollar deficits – as far as the eye can see.

Government is worried about deflation, especially housing, so it is propping up prices with inflationary spending and debt. Bill Bonner warns that the fiat dollar can not withstand the pressure of the massive tide of dollars about to be unleashed by the Fed and that inflation - massive inflation - will result. To misquote Bette Davis, "Fasten your seatbelts. We're in for a bumpy ride."