Guest Post by Simon Black
On October 22, 1981, the national debt in the United States crossed the $1 trillion threshold for the first time in history.
It took nearly two centuries to reach that unfortunate milestone.
And over that time the country had been through a revolution, civil war, two world wars, the Great Depression, the nuclear arms race… plus dozens of other wars, financial panics, and economic crises.
Today, the national debt stands at more than $21 trillion– a milestone hit roughly two months ago.
This means that the government added $20 trillion to the national debt in the 37 years between October 22, 1981 and March 15, 2018.
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That’s an average of nearly $1.5 BILLION added to the national debt every single day… $62 million per hour… $1 million per minute… and more than $17,000 per SECOND.
But the problem for the US government is that this trend has grown worse over the years.
It took only 214 days for the government to go from $20 trillion in debt to $21 trillion in debt– less than eight months to add a trillion dollars to the national debt.
That’s an average of almost $52,000 per second.
Think about that: on average, the US national debt increases by more in a split second than the typical American worker earns in an entire year.
And there is no end in sight.
At 105% of GDP, America’s national debt is already larger than the size of the entire US economy. (By comparison the national debt was just 31% of GDP in 1981.)
Plus, the government’s own projections show a steep increase to the debt in the coming years and decades.
The Treasury Department has already estimated that it will borrow $1 trillion this fiscal year, $1 trillion next year, and another trillion dollars the year after that.
They’re also forecasting the national debt to exceed $30 trillion by 2025.
To be fair, debt isn’t always bad. In fact, sometimes debt can be useful.
Businesses and individuals use debt all the time to shrewdly finance productive investments.
Real estate investors, for instance, often borrow most of the money they need to purchase a property once they determine that the rental income should more than cover the debt service.
In this way, when applied prudently, debt can actually help build wealth.
And the US federal government did the same thing in its early history.
It was an incredibly astute move on the government’s part, for example, to go into debt to finance the Louisiana Purchase back in the early 1800s, which dramatically expanded the size of the budding nation.
These days, however, the government flushes money down the toilet in the most wasteful ways imaginable, both big and small.
We’ve covered some of the more ridiculous examples in our normal conversations, from that $2 billion Obamacare website to the $856,000 that the National Science Foundation spent teaching mountain lions to run on treadmills.
Even the government’s more legitimate expenses are absolutely colossal now.
Last year the government spent HALF of its budget just to pay for Social Security and Medicare.
The situation is so dire that the government spends more than its entire tax revenue just on these mandatory entitlement programs, plus Defense and interest on the debt.
Even if you could eliminate entire departments of government, they would still be running a budget deficit and going deeper into debt.
The larger the national debt becomes, the more interest the government has to pay each year.
And interest payments increase even more rapidly as rates continue to rise… which is exactly what’s happening now.
A few years ago, the government paid less than 1.5% on its 10-year Treasury note. Today the rate has doubled.
This has a profound impact on Uncle Sam’s cash flow: they have to borrow MORE money just to pay interest on the money they’ve already borrowed… and spend a larger and larger share of the budget on debt service.
It’s a financial death spiral.
Think about it: if the government is having this much trouble making ends meet when they’re paying 2% interest on $21 trillion in debt, what’s going to happen when they’re paying 5% on $30 trillion?
It’s foolish to think that this trend has a consequence-free outcome. No nation in history has ever become prosperous by borrowing record amounts of debt to finance reckless spending.
It doesn’t matter.
I’m going to duck now.
It is NOT America’s “Debt”. It is Counterfeit – real simple. The criminal bums that murder our soldiers in their phony wars must give up their assets. They have Counterfeit OUR Currency and it is contrary to the Constitution- therefore – ILLEGAL.
The [NOT]Federal[NO]Reserve-created “debt” out of thin air is “applicable” ONLY if the United SNAKES CORP, D[e]C[eit] knuggle-draggers attempt to “enforce” it upon millions of the indebted who “lose it”.
OUTSTANDING… THANK YOU. There is intelligent life. We The People know where they live and we know their names. We The People want our stuff back… We will start by taking their stuff and putting them in the street with the rest of the garbage.
A fiat monetary systems does not work without debt.
Next.
There is no difference in a Currency system that is COUNTERFEIT.
THERE IS NO DEIIFERENCE BETWEEN COUNTERFEIT PAPER AND COUNTERFEIT GOLD.
The ONLY consideration, vis-a-vis “value” is “Accountability” in the Presence Of The Rule Of Law.
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Counterfeit gold and Counterfeit paper are equally worthless.
The Constitution negates foreign Usury and the “debt” is Europe’s problem as they have been robbing the US and lying about it.
We The People need renounce the bankers and their DC puppets… These Filth need serious Prison.
Creating money out of thin air, fractional reserve banking, theft through inflation, no culture/society/government has survived fiat currency. Think about it, if everyone paid off their debt (not that they can) the system would collapse. The creature of Jekyll Island will not be tamed. For the evil one comes to steal, kill and destroy.
Americans HAVE NO DEBT- OUR CURRENCY HAS BEEN COUNTERFEIT BY CRIMINALS AND THEIR PRESENCE IN OUR CURRENCY (BONDS, BILLS AND NOTES) IS CONTRARY TO THE CONSTITUTION. 1 8 6
The criminal, English-based cartel, presently operating out of the intentionally-mislabeled, “Federal Reserve- neither federal, nor, possessing ANY reserves”, would like everyone to believe Article 1, Section 8, only allows, “The Congress… To coin money…”. They are lying. The colonial process of using an actual, “printing press” used “Quoins” to create and “fix” the printing of paper currency, and thereby, “… Regulate the value thereof”. The word “Quoins” may be spelled, “Coignes, or “Coins”. Thomas Paine understood as much and he described the paper “Continental Currency”, as the “Cornerstone” of the Revolution…
A deliberate, misinformation campaign now defies and confounds the Truth. It is a long time in the making…
Can a piece of paper support the weight of the Washington Monument?
Thomas Paine has suggested it can.
According to what is likely the greatest engineer of the Revolution, once the paper currency, “The Continental” was “Quoined” and printed, it acted as the “Cornerstone” to Revolution.
Paine describes “Continental Paper Currency”, as follows:
“Every stone in the bridge, that has carried us over, seems to have a claim upon our esteem. But this was a corner stone, and its usefulness cannot be forgotten.”.[1]
The Original Revolt against English Bankers was engineered by Draftsmen, Printers, Builders, and Warrior Poets …
Thomas Paine, perhaps the greatest engineer, of them all, built the first-ever, steel, suspension bridge, even as the words he fashioned, provided the backbone necessary to the demands of his day.
In fact, his words define the very, “Bridge, that has carried us over…”.
As Draftsmen, Printers and Builders, the original engineers were no strangers to their craft and the tools they used to “Quoin” their creations may have emboldened the rebellion in the first place in the aftermath of the “Stamp Act”.
Simply put, before a project can act as “Coin”, it must be “Quoined” to carry weight and in fact, the coignes themselves, whether called “coignes, coins, or quoins”, are actual, metal weights.
These metal weights are used to set the type-face; the letters and numbers that define each printed page…
The paper, to show value, must be clearly defined, as described in the printed word, with the structural elements clearly defined, while drafted on paper and “stamped”, upon approval.
Insofar as, placing a valuation on paper money, it is redundant to explain the same qualities must also be present.
Any architect, Revolutionary or otherwise, will then, “… regulate the value thereof…”,[2] as his work commands his price.
In architecture, another word for a “Cornerstone” is a “Quoin”.
To paraphrase Thomas Paine and thereby, “coin a phrase”:
A PAPER “QUOIN” is a “COIN”.[3] Congress may certainly “Quoin” paper money.
A “Corporate Kleptomockracy” now
feels it owns, “The People, We”.
While “Common Sense” and meanings-lost
Have all conspired to shirk the cost…
To “middle man”, across the sea,
A wretch, now marked, as “Royalty”.
If my two “Cents” makes tons of “Sense”,
and Thomas Paine may be believed,
the current paper, once properly “Quoined”,
may act as “Corner Stone” and Store
to cage the English…
Central Banking Whore…
For paper “Quoined”,
as case may be, will act as “Coin”,
to set the fee and thus describe,
“The People, We”
as having now and always been,
our Sovereigns’ own, in Sovereignty
…
“Nobility”? : such posh – and –pish…
while feeding in the People’s dish…
It gluts itself, among our sons
And fills the world with bombs and guns.
It hides itself, a “Patriot”, while “Greed”, alone, is Cause for it.
~Michael Keane
Take the phony amount (1200 Trillions) and move it, as real dollars, into the Possession of the American People.
Investigate and Prosecute our Political Oppressors and the banks that counterfeit American Currency.
There are 1200 Trillions owed to “Insurance Fraud”, aka, “Derivatives” and EMPTY “MBS- Mortgage-Backed-Securities”- THAT HAVE NO “MORTGAGES” IN THEM!
It is Counterfeiting, plain-and-simple.
Article one, Section eight, provides remedies for these criminal behaviors. In unambiguous language, Article One, Section Eight, explains, as follows:
“The Congress shall have the power … To provide for the punishment of counterfeiting the SECURITIES and current coin of the United States…”.
Once punishment and “asset seizures” are established, the present system may be kept, in place and an alternative currency may be used, as substitute, for the intentionally-mislabeled, now-hyper-inflationary, “Federal Reserve Notes, Bills and Bonds”.
The intentionally-mislabeled, “Federal Reserve”, neither “Federal”, nor possessing ANY “Reserves”, has destroyed itself, NOT the American People.
In fact, Abe Lincoln’s “Greenbacks” presently exist in the US Treasury as a replacement. They could be minted and used, while “We The People” evict the criminal, English-based, Central Banking Cartel and establish the Treasury, as:
“Under New Ownership”.
~ Michael Keane 1/25/17
1] “The Web of Debt”, Dr. Ellen Brown, p. 43
[2] Constitution, Article One, Section Eight
[3] http://www.thefreedictionary.com/quoin
All rights reserved.
Our money is debt, get rid of our debt and get rid of our money.
IT IS NOT NOT NOT, “OUR” “DEBT”. IT IS “DEBT” OWED BY IMPOSTERS AND PARASITES THAT HAVE BEEN ROBBING OUR FINANCIAL CENTER FOR AT LEAST ONE HUNDRED YEARS AND LYING ABOUT IT.
And more than half of it is outright scams and fraud. From Somalis running welfare and childcare scams, to healthcare gouging to Musk and Bezos… we’re being destroyed by our own unwillingness to enforce some semblance of a rule of law.
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Social Security and Medicare “Insurance” don’t consume over half of the general revenue. Before they are cut, the Warfare and the Dark Budget should be cut, and PURE Welfare expenses like Section 8, Food Stamps, Medicaid, etc should be cut. The end will come (within a couple years) with hyperinflation like in Venezuela. It will be the price Americans will have to pay for all the Democrat Socialist Profligacy (ie, unproductive dependency).
The central banks broke the system in Counterfeiting American Currency (bonds, bills and notes) and Counterfeiting American Securities. The “Debt” is the problem of the parasites and criminal imposters. The Constitution makes zero allowance We The People must endure Fraus and then also pay the tab for the Filth that defrauded US.