Predictably, without the restraint of gold, the quantity of debt based money has increase seemingly without limits – and it’s everyone’s massive problem. What’s more, over the past 30 years the Federal Reserve has obliged Washington with cheaper and cheaper credit.Hence, public, private, and corporate debt levels in the U.S. have multiplied beyond comprehension. Total U.S. debt’s now on the order of $74 trillion. The consequences, no doubt, are an economy that’s equally distorted and disfigured beyond comprehension.