As I peruse and lurk in the various outlets of news, forums, telegram threads, and online comment sections in my own cyber-sphere, I noticed that a number of people (presumably people) are still concerned about “The Debt Crisis” or “The National Debt.” One may think of the Debt Clock on display in New York. Well, I can inform you that the debt is not as bad as the Debt Clock says the debt is…no, no. It’s actually much larger. One can see this when you factor in the off-book/off budget deficits, such as unfunded liabilities, somewhere around 160-200 trillion, or more, probably not less, it’s really hard to know for sure. Old Mc. Powell had a farm, aye eye aye eye oh…with a T-note here and a savings-bond there, here a zero, there a zero, everywhere a zero, zero. These are the kind of numbers the mortal mind has trouble grasping, and now remember to add the interest on the principal. But here is the good news: In the grand scheme of things, these numbers are irrelevant to us, The People. They are just numbers.
There still seems to be a critical deficiency in the general comprehension of the reality of our financial system and of debits and credits. Too long didn’t read: It’s all non-substance, paper and digital fictions, fraud, it has no defined value. We are have been subjected to a debt based fiat currency Ponzi scheme by private central bankers. The U.S. Dollar has no substance. When I say U.S. Dollar even I am not sure what Dollar I am talking about. Am I referring to a Federal Reserve Note? Or to an old Treasury Note? Or to a bookkeeping entry of commercial credit in a checking account? That is all these notes and digits are, bookkeeping entries, accounting fictions, debt instruments. You are being put into fear and worry and having your lifeforce stolen from you to service interest payments on a fiction.
The operators of these banks then get to take these digits and buy real things with your sweat-equity, and, off of the many fraudulent and deceptive vehicles they have invented to create derivatives and through the hypothecation of assets, like account balances and loans and securities, and repackage, resell and leverage everything hundreds of times over. They also skim off of transactions, at times a bank may hold “your” funds in transit in a money-market account and skim pennies off of it, delaying your transfer, and keeping the profit. Whenever you deposit a check, the amount on that check may be put into an escrow account and could create (easily) a 100x that original principal of the check amount in credit. And you, the authorized representative who endorsed the instrument, don’t get access to your due cut for facilitating the secret transaction. Mammon eat your heart out, you get screwed going in and leaving. You labor for what the banks and credit unions create from thin air, with a flick of a pen or the strokes of keys. You actually think taxes fund government services? No, taxes are either extra slush money in off-budget CAFR accounts, or they service interest payments on bonds. It is all bonds, debt instruments. Oh, it gets so much worse, wait until I explain how government budgets are a deception and how loans actually work in another blog.
The system has to continue to grow, if it does not grow, then it will collapse. Since there is interest attached to every unit of account (U.S. Dollar in this case) there cannot ever be enough principal to repay the interest. I will explain it this way: You have the only Dollar in existence, and you borrowed it into existence at a 10% interest rate. You immediately owe a dime on that Dollar. The problem is, you don’t have a dime, because you hold the only Dollar in existence. So what can you do? You borrow another Dollar into existence, and service the original Dollar loan with the old Dollar you already held plus the new Dollar, plus interest, leaving you with 90 cents. But wait, that second Dollar has 10% interest on it…so now you owe 20 cents on your 90 cents…how do you get the $1.20? You borrow it. And on, and on. That is the basic function of the system, enslavement by unpayable debt. You cannot pay debt with debt, just like you cannot fill a hole with another hole. The “debts” cannot be repaid through the system, by design of the private central bankers. Eternal debt slavery. All in open view of the populace, yet unobserved for decades. Thankfully this is changing.
So they next time you here about “paying down the debt” and “paying your fair share” and “the national debt crisis” just remember, it’s meant to keep you in fear, obligation, and guilt: FOG.
-Without Prejudice, T. Jas. J AKA: The Mad Mainer