Tag Archives: debt

Will the National Debt Destroy America?

Jeremiah Project Posted on by

Thomas Jefferson warned, “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.” Debt Crisis Debt is nothing new to the United States. The American Revolutionary War led to our first national debts and the War of 1812 further expanded that government debt to approximately $75 million. In 1835, President … Continue reading →

Why Simplicity Is So Important

Jeremiah Project Posted on by

Henry David Thoreau, one of my favorite authors, once declared, “My greatest skill has been to want little.” I’ve always taken this quote to heart and have endeavored to live a life of simplicity. Now, in recent times, I think that simplicity has become even more important. When you have a look at our country, devastated with debt, you can see how the concept of simplicity and living within your means has become a completely forgotten idea. On a countrywide … Continue reading →

Bogus Deficit Reduction

Jeremiah Project Posted on by

Bill Clinton claimed the deficit was reduced more than since the Civil War and that his balanced budget would protect Medicare, Medicaid, education and the environment. On the surface it might appear he reduced the deficit, but the problem was the deceptive way Clinton accomplished this “sleight of hand” deficit reduction. It’s called “cooking the books.” You see, the government keeps two sets of books… One set showed the rosy picture Clinton wanted to paint for the American public. The … Continue reading →

Credit Card Debt

Jeremiah Project Posted on by

The payment mechanism that consumers use to purchase goods and services has changed dramatically over the last 100 years and credit card debt has soared in recent years. Proprietary charge cards came on the scene in the early 1900s, followed by “travel and entertainment” cards in 1950. These cards did not have a revolving credit feature, it wasn’t until 1966, that the first general-purpose credit card (such as American Express, Visa, and MasterCard) was introduced. Before credit cards, almost all … Continue reading →

A New Kind of Money: Debt

Jeremiah Project Posted on by

Prior to the 17th century most money was commodity money, typically gold or silver. A commodity money is a medium of exchange the units of which are fixed amounts of an actual commodity that has value other than as money alone. The continued violation of the law of just weights and measures led to a new kind of money. This was the goldsmiths’ debt rather than silver or gold coin. This development required the acceptance in trade of the goldsmiths’ … Continue reading →