PLACERVILLE, CALIFORNIA

Letters

Wealth creation

By From page A5 | September 01, 2014

EDITOR:

New wealth is created in only three ways: agriculture, mining, manufacturing. Notice that government regulations restrict all three methods. Driving along Interstate 5 to L.A. you will see signs stating that the dust bowl you are traveling through resulted from government taking traditional water rights from farmers.

Mining in California is also nearly impossible due to new restrictive laws. Most manufacturing has been driven from America because of strict regulations that apply only to Americans, not foreigners. When new wealth creation is stifled, all transactions involving currency gradually diminish. You see, America imports nearly half of everything consumed here. Payment for these imports gradually impoverishes us all.

Our government is aware of growing unemployment that results from diminishing funds. The government points proudly to the Federal Reserve, which circulates a trillion dollars of new currency each year to make up for the shortfall caused by imports. However, most of the newly issued funds go directly to bankers — who borrow from the Fed at low-interest and deposit their borrowed funds back at the Fed at higher interest. This explains the large bonuses bankers receive annually while the rest of us endure a falling standard of living.

Will the government correct this situation? Not likely. We the people are scorned by government officials. Have you ever dealt with an official over some grievance? Until we voters begin acting like sovereign citizens, we will be treated like serfs. This generation must awaken to the challenge facing us, or our grandchildren will be left with no future.

CECIL RINGGENBERG
Placerville

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