Lee Pitts: What Comes After A Trillion?
Don’t believe me? There’s something called the U.S. National Debt Clock and I’d encourage you to pay it a visit on your computer or smart phone. As I write this on May 12, 2021, the U.S National Debt is 28,281,564,802. That’s over 28 trillion dollars but by the time you read this it will be a hundred billion more. I can’t give you a more accurate number because the Debt Clock is spinning faster than my Grandpa in his grave after he heard about the sorry state of America’s finances. The way the current administration is printing money I don’t think it’s too early to discuss what comes after a trillion. It’s quadrillion and it’s only a matter of time before we reach that miserable milestone.
Let me put this in perspective for you. A billion dollars in hundred dollar bills weighs 11 tons, so a trillion dollars would weigh 22 million pounds!
Or, consider this. If you spent a dollar a day since the day Christ was born you would NOT have spent a billion dollars. You’d have a quarter of that billion left to go on spending for another 760 years!
Or, look at it this way. A million dollars in thousand dollar bills would be eight inches high. A billion dollars in thousand dollar bills is 666 feet high or 110 feet taller than the Washington Monument. A hundred billion dollars in thousand dollar bills is 66,600 feet high or twelve miles. Our national debt at close to thirty trillion in one thousand dollar bills stacked to the sky would be 3,600 miles high! But since the U.S. stopped printing the $1,000 bill, the largest denomination printed is the $100 bill, so our national debt would be 36,000 miles high in legal tender. Keep in mind that this is stacked money not placed end to end.
And all this borrowed money is backed by… well, by nothing. And seven trillion dollars of this debt is held by foreign countries, primarily China. When you compare our federal debt to our gross domestic product you’ll find that in 1980 our debt was 34% of GDP. Guess what it is now? 128%! If you or I operated in this manner we’d be in jail and the bank would grab everything you got faster than green grass goes through a goose.
The only way that our government can even pay the interest on all this debt is to print money faster than they borrow it, which basically means cash is trash. At the current rate of money printing we’re headed for a society where everyone’s a millionaire but no one has enough money to buy an ice cream cone. Have you seen those old photos of Germans pushing wheelbarrows of money down the street to buy a loaf of bread? That’s you and me down the road.
So where are the smart people putting their money? The second wealthiest man in the country, even after his impending divorce, is Bill Gates of Microsoft fame. Where’s Bill putting his money? I’ll give you a hint, it’s not CD’s that pay a third of a percent or treasury bills backed by thin air. No, Bill Gates is buying farm land. Lots of it; 242,000 acres of American farmland at last count.
John Malone, who made his billions in telecommunications, years ago displaced Ted Turner as the largest landowner in America. This financial genius couldn’t wait to get some of his money out of the stock market and into ranch land. He’s currently worth 7.9 billion dollars and owns 2.2 million acres of land including the historic and massive Bell Ranch and the historic TO Ranch, both in New Mexico. Under the name Silver Spur Ranches he also owns big ranches Wyoming, Colorado and overseas as well.
Money talks and these days it’s saying to invest in things that produce real wealth or has real value. And no, I’m not talking about Bitcoin®.
I don’t know when this Ponzi borrowing scheme comes unwound, I just know that it has to. So take your money out from under your mattress and buy something that will let you sleep better at night. Perform a cashectomy and remove your money from the bank and buy more land, cows, gold, silver and ammunition.
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