Total government debt now exceeds the total in the peak war-associated year, 1946, and is exceeded only by the total in the peak covid-associated year, 2020. As of FY 2025, total government debt is 137% of GDP.

Republicans lock tyranny into place

The debt is still being increased. Because Republican congressmen and Trump keep increasing spending.

The Republican-controlled Fed has increasingly accommodated this spending, making the true money supply, TMS, increase from August 2025 through October 2025 at an annual rate of 16%.

Democrats are all in for increasing governments, and can be counted on to use crises to increase governments. Republicans are the only party that selects any candidates who, as legislative swing votes or as executives, would limit spending. Republicans provide ballot access—grudgingly—to the only politicians who won't ratchet-lock increases into place. So Republicans' spending is key.

The Republican majorities' and president's actions as of late provide a practical illustration of the fact that fast, extensive change is always good for freedom. If from the start the change is for the better, then fast, extensive change creates new winners who help hold this change in place long-term. If at the start the change is for the worse, then fast, extensive change creates pushback that leads to fast, extensive change for the better. The Republicans' fast, extensive change for the worse is lately producing dramatic pushback for the better, right before our eyes.

Producers and customers are pushing back

In response to the USA government's fast-increasing dollar debasement, gold buyers and sellers increased gold's price in dollars from Trump's January 20, 2025 inauguration to May 7, 2026 by 75%.

Trump keeps saying he has ushered in a golden age, but that hasn't panned out the way he has been claiming it would. Instead, the Republicans have been making gold essential to preserve assets. Also, the Republicans are likely to end up making producers and customers move on to making gold the basis for contracts.

BRICS+ nations reportedly will soon be pilot-testing a settlement system based on a UNIT currency that's backed 40% by gold and 60% by BRICS+ nation currencies. The proposed gold backing, or some subsequent design configuration, may make such a UNIT currency somewhat competitive.

But using the proven dollar settlement system while finalizing contract values at the time of settlement based on the values of weights of gold will be far-more competitive. And contracts based in this way on the value of 100% gold won't only compete well with contracts based on some fractional-reserve gold backed BRICS+ UNIT currency. Contracts based on the value of 100% gold will also compete well with contracts based on the USA government's fast-depreciating dollars.