The Secretary of the Treasury and the Chair of the Council of Economic Advisers are the two principal economic advisors for any president. President Biden chose Janet Yellen as Secretary of the Treasury and Jared Bernstein as the Chair of his Council of Economic Advisers.

Stephanie Kelton asked Bernstein a basic question about Biden’s monetary and fiscal policies. Bernstein responded with a shocking statement.

“The US government can’t go bankrupt because we can print our own money”

April 30 was the anniversary date when North Vietnamese forces forced U.S. officials to exit Vietnam, much to their chagrin. That was after some 58,000 American men had died for nothing, not to mention the tens of thousands of injured American soldiers and the millions of Vietnamese who were killed or injured as a result of U.S. intervention in Vietnam’s civil war.

If you’re wondering why you should buy gold or worry about a financial meltdown I have two words for you: Jared Bernstein. He is the Chief Economist for Joe Biden. In a clip from an upcoming documentary “Finding the Money” Bernstein is asked about the federal government’s borrowing process and he stumbles and bumbles, saying “The US government can’t go bankrupt because we can print our own money.” It gets worse from there.

[Dangerous Ground: Squatters, Statesmen, and the Antebellum Rupture of American Democracy by John Suval, Oxford, 2022, 281 pp. ]

Advocates for increased levels of societal safety nets seem to primarily ignore obvious truths of public choice theory, as well as what economic trends have taught humanity for hundreds of years. Adam Smith famously said:

In Against the State, Lew Rockwell emphasizes that the assault on our liberties from the state is not merely “the product of temporary malfunctions. To the contrary, the state is by nature evil.” Rockwell shows that the state is founded on coercion and maintains its power by use of force.

Those who have declared residency in another state cannot spend even a minute beyond the allowed time in either high tax New York or California. And, Big Brother is watching. George Orwell could not conjure up a more diabolical tale than the Bloomberg story penned by Laura Nahmias and Eliyahu Kamisher.