- What we use for money is actually debt, created by private banks. The national debt is created by Treasury printing pretty pieces of debt instruments, selling them into a system whereby what is used for money is created debt-free and out-of-nothing by banks. Adding more debt over time, as these mechanics can only do, will only and always increase the total economic debt. This “monetary system” guarantees aggregate public debt is perpetual and unpayable, making the 99% permanent debt-slaves to 1% literal “asset-holes” (documentation here , here , here ). The mechanics and mathematics of only being able to add negative numbers to existing negative numbers is certain and simple.
- Official government claims of “required austerity” from “budget crises” are easily refuted. Government Comprehensive Annual Financial Reports (CAFRs) have literal multiple trillions in surplus taxpayer assets, as they fraudulently claim deficits “forcing” austerity upon the 99%. For example, California’s own CAFR proves a ~$16 billion claimed budget deficit is absolutely refuted by ~$100 billion in liquid surplus funds and ~$500 billion in claimed investments (explanation and complete documentation here , television interview to explain here , documentation of official lies to keep this information hidden here ).
- Again, and importantly, 1% “leadership” in government , banking/finance , and corporate media lie in omission by keeping obvious solutions secret: including government directly paying for all public goods and services with debt-free money created by government (and here ). Several models (and here ) of cost-free government are known, beginning with Benjamin Franklin’s pamphlet on colonial Pennsylvania operating its government without taxes to Thomas Edison explaining debt-free money with Henry Ford in a 1921 summer media tour.
And… It’s Gone! The Fed and US Could Simply CANCEL All $5 Trillion Of Intragovernmental Debt
1 And… It’s Gone! The Fed and US Could Simply CANCEL All $5 Trillion Of Intragovernmental Debt on Sun Oct 13, 2013 8:41 pm
2 Re: And… It’s Gone! The Fed and US Could Simply CANCEL All $5 Trillion Of Intragovernmental Debt on Sun Oct 13, 2013 10:46 pm
Take care of the land and the animals and they will take care of you!
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3 Re: And… It’s Gone! The Fed and US Could Simply CANCEL All $5 Trillion Of Intragovernmental Debt on Mon Oct 14, 2013 9:47 am
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