By The People

There are fundamental flaws in how American government operates today,
contrary to the Constitution and the vision of a representative republican form of governance.
I intend doing something about it: by educating and informing others who
are not even aware of the dangers.

Friday, August 5, 2011

Truth About US Debt

The debt ceiling increase deals with money already spent or incurred or obligated.

It has nothing to do with the budget other than to pay for what we've already spent.

The Debt Ceiling equals current obligations. The Budget equals future obligations.

The current US debt including derivative repayment and loss to inflation is now approaching four quadrillion and will exceed that figure by the end of 2012. The value of the dollar in purchasing worth is now below five cents.

Now think about this: If it were possible to gather together all of the Federal Reserve Notes held globally, and bring them here to America , it would only pay one tenth of the total debt! Why? Because fractional reserve banking creates 90% additional debt via loans which the banks have no deposits for.

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