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but not so evident because as long as there was new land to exploit, new resources to develop, room for more people, and productive potential to keep up with that expanding population the only limiting factors were human ingenuity and ambition. By mentioning the capitalist system I don't want some of my more conservative readers to jump to the conclu- sion that I am touting some other system because I'm not. I'm only con- cerned with what we are actually a part of, what it is likely to do to us within our lifetimes and what protection we can achieve against it. Even the Communist countries are up against some of the same problems though not all.

3. Today we do NOT have new land to exploit, we are running out of resources, we do NOT have room for more people – we have too many already. With depleting resources we do not have the ever expanding productive potential we used to have. On top of that, the by-product of our past and present industrial activities is one of widespread pollution everywhere - land, sea, air and water. We are not alone.

4. For many years back we have constantly raised the statutory debt ceiling in this country, we have promoted credit buying to the nth degree, we, and most other countries, have constantly increased the money sup- ply by printing press activity rather than by backing our money with something tangible. We have not only gone off the gold standard in this country as far as our internal resources are concerned, but Nixon in- formed the rest of the world that we would no longer pay our interna- tional debts in gold when it was demanded. Thus there is no standard of value behind the U.S. dollar directly. The amount of gold in Fort Knox and elsewhere equals only about 1/8 to 1/9th of the sum of our foreign debts, so we couldn't pay up if we wanted to. The only reason our coun- try can survive such a declaration as Nixon made is that we are the most industrialized country in the world, and most peoples of the world need at least some of the things we produce; thus our money is backed by our ability to produce, not by anything of intrinsic value. A smaller country could not do this and survive.

5. In view of too many people, too little production, too little real value to money, too much demand, too many things in short supply start- ing with energy, and too much being spent on military expenses, we are in a depression already and it is going to get MUCH worse. This cannot and will not be said in so many words by government and business spokesmen lest it set up a wave of panic. But if you read between the lines of statements by Arthur Burns of the Federal Reserve Board and by the

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