That's how much our Fed Gov't pays in interest on the National Debt...every day. And yet, DC politicians of both major Parties say the Debt doesn't matter.
By the way, the overwhelming bulk of Personal Income Taxes goes to pay that Interest. That's the main purpose of Personal Income Taxes. Central Banks, other Mega Banks, and other Mega Corporations are the primary recipients of those monies. They hold the vast majority of Bonds & Treasury Notes. ["Bonds" have maturities greater than 10 years, while "Treasury Notes" have maturities from 2-10 years.]
Gov't Services are paid for by Corporate Taxes (such as they are...Amazon paid zero Income Tax in 2018), excise taxes (highway/gas, liquor, tobacco, firearms, etc.), fees, imposts, duties, and more borrowed money...on which you pay the interest...$896 million per day this year.
Alan Greenspan once made these statements (paraphrased): the USA will never default on its Debt because when we need money, we simply print it; we can guarantee no default, but we cannot guarantee the purchasing power of those dollars. [Right, Alan, and that's the catch or rub, isn't it?]
Every fiat (or debased) currency in history eventually failed. The "money" became essentially worthless because the issuing government wound up printing too much of it. That's currency inflation; price inflation is the result of too much currency inflation. The more dollars there are, the less each dollar is worth. Prices then go up in order for producers just to keep even, never mind get ahead. Compared to the 1913 Dollar, today's Dollar is worth about three cents. That's why the pair of Levi's jeans I bought in 1961 cost me $3.95, and the Levi's jeans I bought a few days ago were $49.95. The cost of production (per unit produced) didn't go up; that cost has gone down over the years due to automation, essentially flat wages, foreign factories, etc. Prices on everything have gone up because the Dollar becomes worth less & less every year. That's how fiat currency operates.
Currently, we're at the tail end of today's world fiat currency system. The whole thing (worldwide) is based on so much Debt that's it's unsustainable. All fiat currencies in circulation today are becoming more & more worthless... because each year they are worth less. Hello. Global Debt is now close to $250 trillion; the entire world's GDP is about $84 trillion. Do the math. Such a system will fail. DEBT will kill it. Governments cannot simply "print" currency to get out of horrendous Debt because the result would be hyperinflation of prices; purchasing power would drop to within a micron of zero. That's the rub.
Some sort of Great Re-Set is coming, and with it, most likely a worldwide Depression. Can't say exactly when, but it's virtually guaranteed...all because of the massive Debt Bubble caused by fiat currency and reckless Powers-That-Be.
Not only my opinion. Be prepared.
