The last time I checked, and that's been awhile, the Federal Reserve's balance sheet was over 2.6 trillion. Today, they are the biggest holder of U.S. treasury securities. With QE III (infinitey), expect that balance sheet to grow. We are monetizing our debt at an alarming rate. Throughout history, this is usually a sign of a nation that is about to default on its debt. Of course, there are two ways to default: one is through ou tright default and the second is through inflation (hyper inflation), paying back debt with cheaper dollars.They're already just printing money since the Chinese and Russians are sick of loaning it to them to squander on dumbass stuff.
What nobody cares about because hardly anyone saves money like they should, is that by printing money, its basically stealing the money of those who were responsible and saved some of theirs. It steals the value of it.
We are in serious, serious trouble. Imagine this country in a scenario where the dollar became virtually worthless! Imagnine the chaos, untold deaths, misery and horror... We are a soft, obese, infirm nation - there are alot that wont survive such a scenario.