The History of Ponzi Schemes

The debt ceiling was first enacted in 1917. It's not a question of if, it's just a question of when we will default on our debt. Default could take the form of an honest default where we just don't pay or a dishonest default where we pay with inflation. We're running the world's biggest Ponzi scheme and we're telling everybody that it's a Ponzi Scheme. I think the world is now starting to wake up. That is why you're seeing this move to get out of US Treasuries because everybody knows.