Category Archives: Debt

Pat Robertson of 700 Club says to Jail the Bankers

On February 21st, televangelist and long time right-wing icon Pat Robertson addressed the banking crisis on his television show, The 700 Club.

Pat Robertson discussed the banking crisis and glowingly spoke about how Iceland jailed many of the bankers who devastated their nation’s economy by taking out fraudulent loans. Robertson hailed the Nordic nation for its actions and said that Americans should deal with the financial crisis in the same way.

from Mediaite.com

Pat Robertson Says: Put Bankers in Jail, Florida Legislators Say, Put

Pat Robertson Says: Put Bankers in Jail, Florida Legislators Say, Put Floridians In The Street! NOW!

Now the Republican rhetoric used to be something like, “Uphold the Rule of Law”, “Respect Contracts”, “Hold Property Rights Sacred”…But if you listen to Florida’s Republicans, who just today, voted to Trash the Rule of Law, Disrespect Contracts and Violate Property Rights, you’ll see just how twisted and out of whack the whole state is…

Publish Date: 02/22/2012 14:37

http://mattweidnerlaw.com/blog/2012/02/pat-robertson-says-put-bankers-in-jail-florida-legislators-say-put-floridians-in-the-street-now/

Iceland Forgives Mortgage Debt of its Population

teleSUR english, a 100% Latin American network broadcasting 24-hour news and developments from the Southern Hemisphere reports that Iceland is cancelling the mortgages of much of its population.

Thanks to Sherrie at sherriequestioningall for bring this to the net’s attention.

Sherrie Questioning All: Iceland Forgives Mortgage Debt for the

Iceland Forgives Mortgage Debt for the Population. Putting Bankers and Politicians on “Bench of Accused”. This is awesome. It shows when the people DO STAND UP they have more power and win against the corrupt

Publish Date: 04/13/2012 8:14

http://sherriequestioningall.blogspot.com/2012/04/iceland-forgives-mortgage-debt-for.html

Counterfeit Money Fraudulent Banks and a Bit of Debt Forgiveness

Just For Laughs – Counterfeit Money

A bank in France, celebrating its 375th  anniversary, has cancelled the debts of many of it poorer customers, reports good.is Hurray for another bank that has caught a bit of the Jubilee spirit. Was this just a good PR stunt or a little bit of a scrooge-like conversion to generosity on the part of the lenders? As far as banks go, the Crédit Municipal de Paris, also known as the “Mont-de-piété,” or the bank of the poor, is one of the best. It functions in a fair manner towards the poor in the midst of a debt based system that normally only loots them or offers them no help at all. This bank in Paris was operating much like a pawn shop to help those in dire straits, offering an alternative to loan sharks.

Getting rid of debt is a good thing.

But even better than eliminating the debts of a few poor people  would be the elimination of all fraudulent debt. Operating within today’s fiat money debt-based system, banks don’t loan out depositors’ money. They merely create debt out of thin air by pushing a few buttons on their computers, creating credit from nothing. This nothing they have created then entitles them to charge interest. They didn’t loan out anything of substance, they merely obtained a promise to repay while they handed out counterfeit money. The collateral of the debtors is the only real value in the equation.

Some years ago when I applied for a home mortgage at my local credit union, the manager told me:

“Don’t think the banks are doing you a favor when they loan you money for a mortgage. You are the only one paying. The home is the only item of value in the equation. You are the only one at risk. The banks are putting up nothing, and they are the main beneficiary of the arrangement.”

Ah, an honest banker. If only they were all totally honest they would stop playing their little Babylonian creation of money games. They would shut down their usurious system. And return to real capitalism where risk comes before reward, where the lenders place real assets on the line, earning from  investment profits rather than speculation and robbing the poor.

Charles Hugh Smith this week writes an excellent article on the counterfeiting Federal Reserve and the banks: Counterfeit Money, Counterfeit Policy

What is the difference between printing money and counterfeiting? There is none.

Counterfeiting is illegal because it is the false creation of value. The counterfeiter takes low-value paper and turns it into high-value money, which is fundamentally a claim on the real productive value of the economy that issues the currency and recognizes it as a proxy means of exchanging that productive value.

Counterfeiting is illegal because the counterfeiter creates no additional value–he creates only the proxy for value. Creating real value–adding meaningful goods or services to the economy–is tedious, hard work. How much easier to simply transform near-worthless paper into a claim on actual goods and services.

 

 

 

If this is illegal, then would somebody please arrest the Board of the Federal Reserve for counterfeiting? The Fed has blatantly printed money without creating any real value to back up their added claims on productive value. Hence they are counterfeiting, pure and simple. A government based on rule of law would arrest these fraudsters and cons at the earliest possible convenience.

The Fed Trades Counterfeit Money for Power II

Don’t listen to millionaire/billionaire politicians, talking heads and central banksters. They are slowly destroying the US Constitution with more corrupt tyrannic control of our society. The Bailouts passed against the will of the People. The Bankst…

Ron Paul: Federal Reserve Is “Counterfeiting” Money

“The Founders felt pretty strongly about counterfeiting. I don’t — I wouldn’t call it treasonous, but I would call what our Federal Reserve does morally equivalent to counterfeiting because they create money out of thin air and they give us our prob…

Billions for the Bankers 6: A Debt-Free America

Billions for the BankersPart six of a series: Billions for the Bankers, Debts for the People: The Real Story of the Money-Control Over America written by Sheldon Emry in the 1980s. We realize this small, and necessarily incomplete, article on money may be charged with oversimplification. Some may say that if it is that simple the people would have known about it, and it could not have happened. But this MONEY-LENDERS’ consPIRACY is as old as Babylon, and even in America it dates far back before the year 1913. Actually, 1913 may be considered the year in which their previous plans came to fruition, and the way opened for complete economic conquest of our people.

A DEBT-FREE AMERICA

With debt-free and interest-free money, there would be no high and confiscatory taxation, our homes would be mortgage free with no $10,000-a-year payments to the Bankers, nor would they get $1,000 to $2,500 per year from every automobile on our roads. [Of course, today these numbers are much higher than in the 1980s.] We would need no “easy payment” plans, “revolving” charge accounts, loans to pay medical or hospital bills, loans to pay taxes, loans to pay for burials, loans to pay loans, nor any of the thousand and one usury-bearing loans which now suck the life-blood of American families. There would be no unemployment, divorces caused by debt, destitute old people, or mounting crime, and even the so-called “deprived” classes would be deprived of neither job nor money to buy the necessities of life.

Criminals could not become politicians, nor would politicians become criminals in the pay of the Money-lenders. Our officials, at all government levels, would be working for the people instead of devising means to spend more money to place us further in debt to the Bankers. We would get out of the entangling foreign alliances that have engulfed us in four major wars and scores of minor wars since the Federal Reserve Act was passed, alliances which are now used to prevent America from preparing her own defense in the face of mounting danger from alien powers.

A debt-free America would mean mothers would not have to work. With mother at home, juvenile delinquency would decrease rapidly. The elimination of the usury and debt would be the equivalent of a 50% raise in the purchasing power of every worker. With this cancellation of all debts, the return to the people of all the property and wealth the parasitic Bankers and their quasi-legal agents have stolen by usury and fraud, and the ending of their theft of $300 Billion (or more) every year from the people, America would be prosperous and powerful beyond the wildest dreams of its citizens today. And we would be at peace! (For a Bible example of cancellation of debts to money lenders and restoration of property and money to the people, read Nehemiah 5: 1-13.)

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Imagine a celebration sometime soon in the future: A celebration of Jubilee. Over 90% of the American national debt has been eliminated, through the American National Jubilee Act and International Treaty. Trillions of dollars of new debt-free credit for manufacturing, energy R&D, scientific innovation and advanced technologies to solve the pressing problems facing the world, has been issued by the government lawfully and debt-free. America is rebuilding its economy.

Imagine the American Jubilee Party of the future. It would transcend nationalism, and would indeed be a world wide party, celebrating the “shaking off” of debt burdens around the globe.

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debt free mortgage

WHY YOU HAVEN’T KNOWN

We realize this small, and necessarily incomplete, article on money may be charged with oversimplification. Some may say that if it is that simple the people would have known about it, and it could not have happened. But this MONEY-LENDERS’ consPIRACY is as old as Babylon, and even in America it dates far back before the year 1913. Actually, 1913 may be considered the year in which their previous plans came to fruition, and the way opened for complete economic conquest of our people. The consPIRACY is old enough in America so that its agents have been, for many years, in positions such as newspaper publishers, editors, columnists, church ministers, university presidents, professors, textbook writers, labor union leaders, movie makers, radio and TV commentators, politicians from school board members to U.S. presidents, and many others.

CONTROLLED NEWS AND INFORMATION
media control by financiers

These agents control the information available to our people. They manipulate public opinion, elect whom they will locally and nationally, and never expose the crooked money system. They promote school bonds, municipal bonds, expensive and detrimental farm programs, “urban renewal,” foreign aid, and many other schemes which will put the people more into debt to the Bankers. Thoughtful citizens wonder why billions are spent on one program and billions on another which may duplicate it or even nullify it, such as paying some farmers not to raise crops, while at the same time building dams or canals to irrigate more farm land. Crazy or stupid? Neither. The goal is more debt. Thousand of government-sponsored ways to waste money go on continually. Most make no sense, but they are never exposed for what they really are, builders of “billions for the bankers and debts for the people.”

So-called “economic experts” write syndicated columns in hundreds of newspapers, craftily designed to prevent the people from learning the simple truth about our money system. Commentators on radio and TV, preachers, educators, and politicians blame the people as wasteful, lazy, or, spend-thrift, and blame the workers, and consumers for the increase in debts and the inflation of prices, when they know the cause is the debt-money system itself. Our people are literally drowned in charges and counter-charges designed to confuse them and keep them from understanding the unconstitutional and evil money-system that is so efficiently and silently robbing the farmers, the workers, and the businessmen of the fruits of their labors and of their freedoms.

When some few Patriotic people or organizations who know the truth begin to expose them or try to stop any of their mad schemes, they are ridiculed and smeared as “right-wing extremists,” “super-patriots,” “ultra-rightists,” “bigots,” “racists,” even “fascists” and “anti-Semites.” Any name is used which will cause them to shut up or will at least stop other people from listening to the warning they are giving. Articles and books such as you are now reading are kept out of schools, libraries, and book stores.

Some, who are especially vocal in their exposure of the treason against our people, are harassed by government agencies such as the EPA, OSHA, the IRS, and others, causing them financial loss or bankruptcy. Using the above methods, they have been completely successful in preventing most Americans from learning the things you have read in this pamphlet. However, in spite of their control of information, they realize many citizens are learning the truth. Therefore, to prevent violence or armed resistance to their plunder of America, they plan to register all firearms and eventually to disarm all citizens. They have to eliminate most guns, except those in the hands of their government police and army.

TELL THE PEOPLE

The “almost hidden” conspirators in politics, religion, education, entertainment, and the news media are working for a Banker-owned United States in a Banker-owned world under a Banker-owned World Governments!

Love of Country and concern for your children should make you deeply interested in this, America’s greatest problem, for our generation has not suffered under the “yoke” as the coming generations will. Usury and taxes will continue to take a larger and larger part of the annual earnings of the people and put them into the pockets of the Bankers and their political Agents. Increasing “government” regulations will prevent citizen protest and opposition to their control. Is it possible that your grandchildren will own neither home nor car, but will live in “government-owned” apartments and ride to work in “government-owned” buses (both paying usury to the Bankers), AND BE ALLOWED TO KEEP JUST ENOUGH OF THEIR EARNINGS TO BUY A MINIMUM OF FOOD AND CLOTHING while their Rulers wallow in luxury? In Asia and eastern Europe it is called “communism;” in America it is called “Democracy” and “Capitalism.”

America will not shake off her Banker-controlled dictatorship as long as the people are ignorant of the hidden controllers. International financiers, who control most of the governments of the nations, and most sources of information, seem to have us completely within their grasp. They are afraid of only one thing: an awakened Patriotic Citizenry, armed with the truth, and with a trust, in Almighty God for deliverance. This article has given you the truth about their iniquitous system. What you do with it is in your hands.

Billions for the Bankers 5: Debt-Free Money

Part five of a series: Billions for the Bankers, Debts for the People: The Real Story of the Money-Control Over America by Sheldon Emry, this section deals with the fact that money is a social construct, and that we can constitutionally provide the medium of exchange (money) needed by our people, debt-free money, by bypassing the bankers.

INTEREST-FREE MONEY

interest free money

If we would have used the Constitutional way of “creating” the money needed in the nation, the Federal Congress would spend most of its time and study on the issuance and control of an adequate supply of stable money for the people. If an increase in population and production required an increase in the medium of exchange, Congress would authorize the “coining”, (i.e., printing) of the determined amount. Some could be used to pay current legitimate expenses of the Federal Government, with the balance paid directly to the citizens. Records for payment would be similar to social security records, except a citizen would be recorded at birth, instead of when he first goes to work. Each person on the records as of the date of the Congressional authorization would receive an equal amount just as if he were a stockholder holding one share. Just think– a payment of only $20 to each citizen would put $4 billion of debt-free and interest-free money into circulation.

Such a suggestion always scares the bankers. Their propagandists will immediately cry “printing press money” and warn that it would soon be “worthless” and would “cause inflation”.

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The Money Masters – Full

THE MONEY MASTERS is a historical documentary that traces the origins of the political power structure. The modern political power structure has its roots in the hidden manipulation and accumulation of gold and other forms of money. The development of fractional reserve banking practices in the 17th century brought to a cunning sophistication the secret techniques initially used by goldsmiths fraudulently to accumulate wealth. With the formation of the privately-owned Bank of England in 1694, the yoke of economic slavery to a privately-owned “central” bank was first forced upon the backs of an entire nation, not removed but only made heavier with the passing of the three centuries to our day. Nation after nation has fallen prey to this cabal of international central bankers.

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The truth is that their immense usury charges on their “created” credit (our debt) is the sole cause of “inflation”. All price on all industry, trade and labor must be raised periodically to pay the ever increasing usury charges. That is the ONLY cause of higher prices, and the money-changers spend millions in propaganda to keep you from realizing that.

The money-creators (bankers) know that if we ever tried a Constitutional issue of debt-free, interest-free currency, even a limited amount, the benefits would be apparent immediately. That they must prevent. Abraham Lincoln was the last president to issue such a debt-free and interest-free currency (in 1863) and he was assassinated shortly thereafter.

NO BANKERS PLUNDER

Under a Constitutional system no private banks would exist to rob the people. Government banks under the control of the people’s representatives would issue and control all money and credit. They would issue not only actual currency, but could lend limited credit at no interest for the purchase of capital goods, such as homes. A $60,000 loan would only require only $60,000 repayment, not $225,931 as it is now. Everyone who supplied materials and labor for the home would get paid just as they do today, but the bankers would not get $195,931 in usury. AND THAT IS WHY THEY RIDICULE AND DESTROY ANYONE SUGGESTING GOVERNMENT (CITIZENS’) MONEY WITHOUT INTEREST AND WITHOUT DEBT.

History tells us of debt-free and interest-free money issued by governments. The American colonies did it in the 1700’s and their wealth soon rivalled England and brought restrictions from Parliament, which led to the Revolutionary War. Abraham Lincoln did it in 1863 to help finance the Civil War. He was later assassinated by an agent of the Rothschild Bank. No debt-free or interest-free money has been issued in America since then. Several Arab nations issue interest-free loans to their citizens today. The Saracen Empire for bad interest on money for 1,000 years, and its wealth outshone even Saxon Europe. Mandarin China issued its own money, interest-free and debt-free, and historians and collectors of art today consider those centuries to be China’s time of greatest wealth, culture and peace.

Germany issued debt-free and interest-free money from 1935 and on, accounting for its startling rise from the depression to a world power in 5 years. Germany financed its entire government and war operation from 1935 to 1945 without debt, and it took the whole Capitalist and Communist world to destroy the German power over Europe and bring Europe back under the heel of the Bankers. Such history of money does not even appear in the textbooks of public (government) schools today.

Issuing money which doesn’t have to be paid back in interest leaves the money available to use in the exchange of goods and services and its only continuing cost is replacement as the paper wears out. Money is the paper ticket by which such transfers are made and should always be in sufficient quantity to transfer all possible production of the nation to ultimate consumers.

It is as ridiculous for a nation to say to its citizens, “You must consume less because we are short of money,” as it would be for an Airline to say “Our planes are flying, but we can’t take you because we are short of tickets.”

STABLE MONEY

Money, issued in such a way, would derive its value in exchange from the fact that it had to come from the highest legal source in the nation, and would be declared to be legal to pay all public and private debts. Issued by a sovereign nation, not in danger of collapse, it would need no gold or silver or other so-called “precious” metals to back it. As history shows, the stability and responsibility of the government issuing it is the deciding factor in the acceptance of that government’s currency — not gold, silver or iron buried in some hole in the ground. Proof is America’s currency today. Our gold and silver are practically gone, but our currency is accepted. But if the government was about to collapse, our currency would be worthless. Also, money issued through the people’s legitimate government would not be under control of a privately owned corporation whose individual owners benefit by causing the money amount to fluctuate and the people to go into debt.

NO MORE BANKERS’ PLUNDER

Under the present debt-usury system, the extra burden of usury forces workers and businesses to demand more money for the work and goods to pay their ever-increasing debts and taxes. This increase in prices and wages is called “inflation.” Bankers, politicians and “economists” blame it on everything but the real cause, which is the usury levied on money and debt by the Bankers. This “inflation” benefits the money-lenders, since it wipes out savings of one generation so they cannot finance or help the next generation, who must then borrow from the money-lenders, and pay a large part of their life’s labor to the usurer.

With an adequate supply of interest-free money, little borrowing would be required and prices would be established by people and goods, not by debts and usury.

wealth without debt

CITIZEN CONTROL

If the Federal Congress failed to act, or acted wrongly, in the supply of money, the citizens would use the ballot or recall petition to replace those who prevented correct action with others whom the people believe would pursue a better money policy. Since the creation of money and its issuance in sufficient quantity would be one of the few functions of Congress, the voter could decide on a candidate by his stand on money, instead of the hundreds of lesser, and deliberately confusing, subjects which are presented to us today. And since money is, and would remain, a national function, local differences or local factions would not be able to sway the people from the nation’s (citizens’) interest. All other problems, except the nation’s defense, would be taken care of in the State, County, or City governments where they are best handled and most easily corrected.

An adequate national defense would be provided by the same citizen-controlled Congress, and there would be no Bankers behind the scenes, bribing politicians to give $200 billion of American military equipment to other nations, disarming us, while alien nations prepare to attack and invade the United States of America.
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For more on this vital topic, check out these links:
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DebtFree United States Notes Were Once Issued Under JFK And

Most Americans have no idea that the U.S. government once issued debtfree money directly into circulation. America once thrived under a debtfree monetary.

Publish Date: 12/18/2011 20:22

http://theeconomiccollapseblog.com/archives/debt-free-united-states-notes-were-once-issued-under-jfk-and-the-u-s-government-still-has-the-power-to-issue-debt-free-money

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The End of Capitalism As We Know It | Positive Money

You won’t hear this from orthodox economists and commentators for they do not take account of the way that money creation distorts the operation of the “free” economy. And they do not appreciate why The usual reason given for the bank’s refusal is that they are worried they won’t get paid back. The real reason is that they …. In what other circumstance could democratically elected Prime Ministers be superseded by anonymous BANKERS virtually overnight! [Reply]

Publish Date: 12/05/2011 6:01

http://www.positivemoney.org.uk/2011/12/capitalism/

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Europe’s Transition From Social Democracy to Oligarchy « A

The reason for this disparity is that they lack a “public option” in money creation. Having a Federal Reserve Bank or Bank of England that can print the money to pay interest or roll over existing debts is what makes the United

Publish Date: 12/17/2011 22:05

http://anationbeguiled.wordpress.com/2011/12/17/europes-transition-from-social-democracy-to-oligarchy/

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Creating New Money: A Monetary Reform for the Information Age

Creating New Money: A Monetary Reform for the Information Age is a book written by James Robertson and Joseph Huber launched by the New Economics Foundation in 2000. It reflects the values of a democratic civil society and the need for economic and financial stability. However, we must never forget that “you can lead a horse to water, but you cannot make it drink”, so follow-up emails should be sent, to enquire as to whether or not they have read it. [Reply]

Publish Date: 12/15/2011 8:46

http://www.positivemoney.org.uk/2011/12/creating-money-monetary-reform-information-age/

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Could the money system be the basis of a sufficiency economy

In my book The Future of Money* I argue that the money system could be a possible mechanism for achieving a socially just, democratically administered, sufficiency economy – an economy that can meet people’s material needs to the

Publish Date: 12/24/2010 2:00

http://www.vielegelder.de/archives/846

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More on Money and Social Possibilities « heteconomist.com

In his interpretation of money as a promise, he notes that this would make the basis of fiat money the government’s promise to extinguish tax liabilities. He does not, however, …. Nevertheless, I think there will be a hierarchy in terms of how restrictive constraints are under different monetary systems for as long as those systems remain in place, and also a hierarchy in terms of how difficult (or costly) it is to relax or abandon the self-imposed constraints. For example, the

Publish Date: 12/18/2011 5:43

http://heteconomist.com/?p=3210

The President: “What is Constitutional Money?” with Edwin Vieira

Rep. Ron Paul sponsored this Congressional lecture on “What is Constitutional Money?”, part two of a three part series on the basic principles of money for Congressional staff. As a continuing educational tool this lecture was

Publish Date: 11/30/2011 23:06

http://www.thepresident.com/2011/11/what-is-constitutional-money-with-edwin.html

Billions for the Bankers 4- Gambling Debts War and Corruption

gambling and warPart four of a series: Billions for the Bankers, Debts for the People: The Real Story of the Money-Control Over America by Sheldon Emry, this section deals with gambling, debts and war. This book was written in the 1980s, many years before the great awakening that is occurring now.

FOR THE GAMBLERS AMONG MY READERS

To grasp the truth that periodic withdrawal of money through interest payments will inexorably transfer all wealth in the nation to the receiver of interest, imagine yourself in a poker or dice game where everyone must buy the chips (the medium of exchange) from a “banker” who does not risk chips in the game, but watches the table and every hour reaches in and takes 10% to 15% of all the chips on the table. As the game goes on, the amount of chips in the possession of each player will go up and down with his “luck.” However, the TOTAL number of chips available to play the game (carry on trade and business) will decrease rapidly.

The game will get low on chips, and some will run out. If they want to continue to play, they must buy or borrow them from the “banker.” The “banker” will sell (lend) them ONLY if the player signs a “mortgage” agreeing to give the “banker” some real property (car, home, farm, business, etc.) if he cannot make periodic payments to pay back all of the chips plus some EXTRA ones (interest). The payments must be made on time, whether he wins (makes a profit) or not.

It is easy to see that no matter how skillfully they play, eventually the “banker” will end up with all of his original chips back, and except for the very best players, the rest, if they stay in long enough, will lose to the “banker” their homes, their farms, their businesses, perhaps even their cars, watches, rings, and the shirts off their backs!

Our real-life situation is MUCH WORSE than any poker game. In a poker game none is forced to go into debt, and anyone can quit at any time and keep whatever he still has. But in real life, even if we borrow little ourselves from the Bankers, the local, State, and Federal governments borrow billions in our name, squander it, then confiscate our earnings from us and pay it back to the Bankers with interest. We are forced to play the game, and none can leave except by death. We pay as long as we live, and our children pay after we die. If we cannot pay, the same government sends the police to take our property and give it to the Bankers. The Bankers risk nothing in the game; they just collect their percentage and “win it all.” In Las Vegas and at other gambling centers, all games are “rigged” to pay the owner a percentage, and they rake in millions. The Federal Reserve Bankers’ “game” is also rigged, and it pays off in billions!

In recent years Bankers added real “cards” to their ‘game. “Credit” cards are promoted as a convenience and a great boon to trade. Actually, they are ingenious devices by which Bankers collect 2% to 5% of every retail sale from the seller and 18% interest from buyers. A real “stacked” deck!

YES, IT’S POLITICAL, TOO!

Democrat, Republican, and Independent voters who have wondered why politicians always spend more tax money than they take in should now see the reason. When they begin to study our “debt-money” system, they soon realize that these politicians are not the agents of the people but are the agents of the Bankers, for whom they plan ways to place the people further-in debt. It takes only a little imagination to see that if Congress had been “creating,” and spending or issuing into circulation the necessary increase in the money supply, THERE WOULD BE NO NATIONAL DEBT, and the over $4 Trillion of other debts would be practically non-existent. Since there would be no ORIGINAL cost of money except printing, and no CONTINUING costs such as interest, Federal taxes would be almost nil. Money, once in circulation, would remain their and go on serving its purpose as a medium of exchange for generation after generation and century after century, just as coins do now, with NO payments to the Bankers whatever!
money for war

MOUNTING DEBTS AND WARS

But instead of peace and debt-free prosperity, we have ever-mounting debt and periodic wars. We as a people are now ruled by a system of Banker-owned Mammon that has usurped the mantle of government, disguised itself as our legitimate government, and set about to pauperize and control our people. It is now a centralized, all-powerful political apparatus whose main purposes are promoting war, spending the peoples’ money, and propagandizing to perpetuate itself in power. Our two large political parties have become its servants, the various departments of government its spending agencies, and the Internal Revenue its collection agency.

IMF & World Bank are weapons of war , by John Pilger

this is a 21 minutes montage of an original 52 minutes special report by John Pilger that you can find if you google for WAR BY OTHER MEANS editing and upload done January 3rd 2011 original program dated late 1991

Unknown to the people, it operates in close cooperation with similar apparatuses in other nations. which are also disguised as “governments.” Some, we are told, are friends. Some, we are told, are enemies. “Enemies” are built up through international manipulations and used to frighten the American people into going billions of dollars more into debt to the Bankers for “military preparedness,” “foreign aid to stop communism,” “minority rights,” etc. Citizens, deliberately confused by brainwashing propaganda, watch helplessly while our politicians give our food, goods, and money to Banker-controlled alien governments under the guise of “better relations” and “easing tensions.” Our Banker-controlled government takes our finest and bravest sons and sends them into foreign wars with obsolete equipment and inadequate training, where tens of thousands are murdered, and hundreds of thousands are crippled. Other thousands are morally corrupted, addicted to drugs, and infected with venereal and other diseases, which they bring back to the United States. When the “war” is over, we have gained nothing, but we are scores of billions of dollars more in debt to the Bankers, which was the reason for the “war” in the first place!

BUT WAIT… THERE’S STILL MORE
people corrupted we will keep lending

The profits from these massive debts have been used to erect a complete and almost hidden economic and political colossus over our nation. They keep telling us they are trying to do us “good,” when in truth they work to bring harm and injury to our people. These would-be despots know it is easier to control and rob an ill, poorly-educated and confused people than it is a healthy and intelligent population, so they deliberately prevent real cures for diseases, they degrade our educational systems, and they stir up social and racial unrest. For the same reason they favor drug use, alcohol, sexual promiscuity, abortion, pornography, and crime. Everything which debilitates the minds and bodies of the people is secretly encouraged, as it makes the people less able to oppose them or even to understand what is being done to them. Family, morals, love of Country, the Christian religion, all that is honorable is being swept away, while they try to build their new, subservient man. Our new “rulers” are trying to change our whole racial, social, religious, and political order, but they will not change the debt-money economic system by which they rob and rule. Our people have become tenants and “debt-slaves” to the Bankers and their agents in the land our fathers conquered. It is conquest through the most gigantic fraud and swindle in the history of mankind. And we remind you again: The key to their wealth and power over us is their ability to create “money” out of nothing and lend it to us at interest. If they had not been allowed to do that, they would never have gained secret control of our nation.

|How true Solomon’s word’s are:

“The rich ruleth over the poor, and the borrower is servant to the lender”
(Proverbs 22:7).

God Almighty warned in the Bible that one of the curses which would come upon His People for disobeying His laws was:

The alien who lives among you will rise above you higher and higher, but you will sink lower and lower. He will lend to you, but you will not lend to him. He will be the head, but you will be the tail. Deuteronomy  28:44-45

Most of the owners of the largest banks in America are of Eastern European ancestry and connected with the Rothschild European banks. Has that warning come to fruition in America?
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Why FIAT BANKERS Want DEATH & WAR : KEISER REPORT

This week Max Keiser and co-host, Stacy Herbert, talk about the European penny drops as more banks need more bailouts while the public debt clock ticks up to $40 trillion. In the second half of the show, Max Keiser interviews Michael Betancourt about…

If Central Bankers Start all the Wars, are Veterans Heroes

Henry Makow When the United States and England loaned Mexico money in 1903 using its customs revenue as collateral, Illuminati banker Jacob Schiff cabled his English counterpart, Ernest Cassel:

Publish Date: 11/13/2011 22:50

http://musicians4freedom.com/2011/11/13/if-central-bankers-start-all-the-wars-are-veterans-heroes-mercenaries-and-dupes/

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BANKERS START WARS TO CREATE DEBT !!! HISTORY OF FEDERAL RESERVE EUSTACE MULLINS

Ezra Pound studied the banking system and Federal Reserve for 30 years. He commissioned Eustace Evans to write the first history of the Fed. He told Eustace that bankers create wars to put nations into debt and that’s how they make money. An illuminating interview…

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How Bankers Get Rich From War Profiteering « Zazen Life

Filed under Business Advice, Culture + Politics, Economics, Finance, Investing, Philosophy Tagged with bankers war profiteering, banking laid bare, carnegie, civil war profiting, j.p morgan, mellons, rockefeller, standard oil,

Publish Date: 12/14/2011 0:04

http://zazenlife.com/2011/12/14/how-bankers-get-rich-from-war-profiteering/

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Soldier Speaks Against Illuminati Bankers and Fighting in Iraq

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Billions for the Bankers 3: Money as Debt

Billions for the BankersPart three of a series: Billions for the Bankers, Debts for the People: The Real Story of the Money-Control Over America, by Sheldon Emry, which was printed in the 1980s: this section deals with money creation and the fact that the interest portion needed to pay the debt is never created. Thirty years later many of the debt slaves are waking up to the truth about how money is created. A few economists are now waking up as well. 2012 will be the year of the great awakening. A better world is coming, free from the tyranny of Babylonian banking. Constitutionally correct interest-free money will lead to prosperity unimagined under the debt-money system of looting and enslavement.

Money As Debt-Full Length Documentary

Money As Debt is a fast-paced and highly entertaining animated feature by artist & videographer, Paul Grignon. It explains today’s magically perverse DEBT-MONEY SYSTEM in terms that are easy to understand. Check out his website: www.moneyasdebt.net M…

THE INTEREST AMOUNT IS NEVER CREATED

The only way new money (which is not true money, but is “credit” representing a debt), goes into circulation in America is when it is borrowed from Bankers. When the State and people borrow large sums, we seem to prosper. However, the Bankers “create” only the amount of the principal of each loan, never the extra amount needed to pay the interest. Therefore. the new money never equals the new debt added. The amounts needed to pay the interest on loans is not “created,” and therefore does not exist!

Under this kind of a system, where new debt always exceeds the new money no matter how much or how little is borrowed, the total debt increasingly outstrips the amount of money available to pay the debt. The people can never, ever get out of debt!

An example will show the viciousness of this usury-debt system with its “built-in” shortage of money.

IF $60,000 IS BORROWED, $255,931.20 MUST BE PAID BACK

When a citizen goes to a Banker to borrow $60,000 to purchase a home or a farm, the Bank clerk has the borrower agree to pay back the loan plus interest. At 14% interest for 30 years, the Borrower must agree to pay $710.92 per month for a total of $255,931.20. The clerk then requires the citizen to assign to the Banker the right of ownership of the property if the Borrower does not make the required payments. The Bank clerk then gives the Borrower a $60,000 check or a $60,000 deposit slip crediting the Borrower’s checking account with $60,000.

The Borrower then writes checks to the builder, subcontractors, etc., who in turn write checks. $60,000 of new “checkbook” money is thereby added to “money in circulation.”

However, and this is the fatal flaw in a usury system, the only new money created and put into circulation is the amount of the loan, $60,000. The money to pay the interest is NOT created, and therefore was NOT added to “money in circulation.”

Even so, this Borrower (and those who follow him in ownership of the property) must earn and TAKE OUT OF CIRCULATION $255,931, almost $200,000 MORE than he put IN CIRCULATION when he borrowed the original $60,000! (By the way, it is this interest which cheats all families out of nicer homes. It is not that they can’t afford them; it is because the Banker’s usury forces them to pay for 4 homes to get one!)

Every new loan puts the same process in operation. Each borrower adds a small sum to the total money supply when he borrows, but the payments on the loan (because of interest) then deduct a much LARGER sum from the total money supply.

There is therefore no way all debtors can pay off the money-lenders. As they pay the principal and interest, the money in circulation disappears. All they can do is struggle against each other, borrowing more and more from the money-lenders each generation. The money-lenders (Bankers), who produce nothing of value, slowly, then more rapidly, gain a death grip on the land, buildings, and present and future earnings of the whole working population. Proverbs 22:17 has come to pass in America. The borrowers have become the servants of the lenders. No wonder God Almighty forbids interest on loans.
foreclosures

SMALL LOANS DO THE SAME THING

If you haven’t quite grasped the impact of the above, let us consider a small auto loan for 3 years at 18% interest. Step 1: Citizen borrows $5,000 and pays it into circulation (it goes to the dealer, factory, miner, etc.) and signs a note agreeing to pay the Banker $6,500. Step 2: Citizen pays $180 per month of his earnings to the Banker. In 3 years he will take OUT of circulation $1,500 more than he put IN circulation.

Every loan of Banker “created” money (credit) causes the same thing to happen. Since this has happened millions of times since 1913 (and continues today), you can see why America has gone from a prosperous, debt-free nation to a debt-ridden nation where practically every home, farm and business is paying usury-tribute to some Banker. The usury-tribute to the Bankers on personal, local, State and Federal debt totals more than the combined earnings of 25% of the working people. Soon it will be 50% and continue upward.

THIS IS WHY BANKERS PROSPER IN GOOD TIMES OR BAD

In the millions of transactions made each year like those above, little actual currency changes hands, nor is it necessary that it do so. 95% of all “cash” transactions in the U.S. are by check, so the Banker is perfectly safe in “creating” that so-called “loan” by writing the check or deposit slip, not against actual money, but AGAINST YOUR PROMISE TO PAY IT BACK! The cost to him is paper, ink and a few dollars in salaries and office costs for each transaction. It is “check-kiting” on an enormous scale. The profits increase rapidly, year after year, as shown below.

THE COST TO YOU? EVENTUALLY, EVERYTHING!

In 1910 the U.S. Federal debt was only $1 billion, or $12.40 per citizen. State and local debts were practically non-existent.

By 1920, after only 6 years of Federal Reserve shenanigans, the Federal debt had jumped to $24 billion, or $226 per person.

In 1960 the Federal debt reached $284 billion, or $1,575 per citizen and State and local debts were mushrooming.

By 1981 the Federal debt passed $1 trillion and was growing exponentially as the Banker’s tripled the interest rates. State and local debts are now MORE than the Federal, and with business and personal debts totaled over $6 trillion, 3 times the value of all land and buildings in America.

If we signed over to the money-leaders all of America we would still owe them 2 more Americas (plus their usury, of course!)

[Now in 2011 National Debt is over $15 Trillion dollars]

However, they are too cunning to take title to everything. They will instead leave you with some “illusion of ownership” so you and your children will continue to work and pay the Bankers more of your earnings on ever-increasing debts. The “establishment” has captured our people with their ungodly system of usury and debt as certainly as if they had marched in with a uniformed army.

GW Radio 11-4-11: End Global Central Banks and Jail The Criminals

Subscribe to our FREE Newsletter: www.greenewave.com Help Support Us: www.paypal.com Join ‘The WAVE’: www.GreeneWave.com Sponsor www.greenewave.com *GETyour official Obama ‘MADE in the CIA’ T-shirt here!!! www.districtlines.com Follow us on Facebook!…


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More interesting links on this topic of money as debt:

The Seven Universal Laws For All Humanity: Money Creation Is A

While the creation and growth of money seems somewhat intangible, money is the way we get the things we need and want. Money is actually nothing but worthless paper created and handed out to us to make us believe we

Publish Date: 12/08/2011 8:01

http://creedofnoah.blogspot.com/2011/12/money-creation-is-useful-productive.html

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Make Money Creation Democratically Accountable, Financial Times

Despite the Bank of England having created money and massively bought up government debt with it, the hope that the cash received would somehow translate into new bank lending has not happened. So when is the penny

Publish Date: 12/14/2011 6:36

http://www.positivemoney.org.uk/2011/12/debt-free-money-creation-financial-times/

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Brain Bender: Monetary and Economic Solution for the World

2: Money and Credit need to be created by the US Treasury and administered locally based on projected production of commodities and not what is already warehoused. Critics in the media are a dime-a-dozen, but it’s rare to

Publish Date: 12/15/2011 2:38

http://brainbender.blogspot.com/2011/12/monetary-and-economic-solution-for.html

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Adair Turner solves debt crisis – Hindenburg flies again at Frankfurt

So far so good – he acknowledges that “over confident faith” in economic dogma (again, a motivation with no place in a supposed science) allowed banks to create too much money (“credit creation” means money creation – if

Publish Date: 12/14/2011 17:25

http://freedomthistime.wordpress.com/2011/12/15/adair-turner-solves-debt-crisis-hindenburg-flies-again-at-frankfurt/

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Currency Creation ~ Two | The Money Conspiracy

In other words, for every deposit that ever occurred in the banking system, about nine times that amount can be created out of thin air.

Publish Date: 12/05/2011 16:22

http://themoneyconspiracy.com/prescious-metals-envesting/create-currency-two/

Moral Hazard of Usury

SNAKEWhen Cato was asked by Cicero “What do you think of usury?” He replied, “What do you think of murder?”

Usury is the taking of interest for loans. The biblical term for usury is nashak (naw-shak’), to strike with a sting, as the bite of a serpent.

From “Usury is Destroying America”, written by Richard Freeman in the paper New Solidarity, during the Bush administration:

“Usury is the practice of charging excessively high interest rates for borrowing money, that is, interest rates above the cost to the lender or financial institution of servicing the loan. For most banks, in most situations, administrative service costs do not exceed 1 percent. During the Roosevelt years of 1940s, the average interest rate set by the U.S. Federal Reserve, under FDR’s strong influence, was 1.6 percent. Once excessive, usurious interest rates are established in an economy, they are generalized to all financial instruments- stocks, bonds, and home mortgages, for example. Usury thus loots wealth out of the economy, and puts it in the hands of the usuror bankers.

Usury creates its own bankruptcy, and brings in its train something else: fascism, the self same regime imposed on Germany by Hitler’s finance minister, Hjalmar Schacht. Usury bankrupts itself as the rising claims of the fictitious financial paper exceed the capacity of the real physical economy to pay them. As the financial paper depreciates, the bankruptcy of the financial elites of London, Wall Street, Boston, Geneva and Venice frantically increase their efforts to siphon real wealth out of the productive economy and the flesh and bone of the workforce, to fund and preserve the bankrupt financial system. This is the kernel of fascist economics.

Usury, fascism and the process of depopulation are three phases of the same process. The murderous debt-collection policies that dominated Imperial Rome destroyed the economy of the entire Mediterranean region, and led to a collapse of the population by 40 percent. The attempt to collect the debt imposed on Europe by the Bardi and Peruzzi banks in the fourteenth century led to the impoverishment of the population, the lowering of its standard of living and immunoligical resistance, and the devastation of the Black Death, which reduced the continent’s population by one-third between 1348 and 1373.

In America, this triple process is far advanced. The Bush administration lies that poverty is declining in America. The facts show otherwise. The minimal number of US poor is 45 million; but another 60 million are barely surviving with household incomes for a family of four within $6,000 of the poverty line. Two out of every five Americans barely subsist during what is supposedly the greatest recovery in American history in this century.

It is time to realize the consequences of our national economic policies over the past decades: Defiance of the injunction against usury, and our irrational enslavement to a free enterprise system of “money-making,” have exacted a terrible price from the United States, and if not ended, will destroy our nation.”

The English Usurer

A Usurer is not tolerable in a well established commonwealth

Usury Condemned by Aristotle, Cato, Plutarch and Plato:

Aristotle says, “There are two sorts of wealth-getting, as I have said; one is a part of household management, the other is retail trade: the former necessary and honorable, while that which consists in exchange is justly censured; for it is unnatural, and a mode by which men gain from one another. The most hated sort, and with the greatest reason, is usury, which makes a gain out of money itself, and not from the natural object of it. For money was intended to be used in exchange, but not to increase at interest. And this term interest, which means the birth of money from money, is applied to the breeding of money because the offspring resembles the parent. Wherefore of any modes of getting wealth this is the most unnatural.’

Plutarch says, “Are we not ashamed to pay usury? Not contented within the limits of our own means, we do by giving pledges and entering into contracts, fabricate the yoke of our slavery; flee from the tyrant-usurers; the barbarians’ debts beget before they conceive; they demand the very moment they lend; the usurious borrower heaps debts upon debts, and finally he sinks into complicated difficulties.”

Plato: “no one shall deposit money with another whom he does not trust as a friend, nor shall he lend money upon interest; and the borrower should be under no obligation to repay either capital or interest.”

Usury, or Interest Condemned in the Bible

Exod. xxii. 25. If thou lend money to any of my people, that is poor, and that dwells with thee, thou shalt not be hard upon them, as an extortioner, nor oppress them with usury.

Levit. xxv. 35. If thy brother be weak of hand, and thou receive him as a stranger and sojourner, and he live with thee, take not usury from him, nor more than thou gavest. Thou shalt not give him thy money upon usury, nor exact of him any increase of fruits.

Deut. xxiii. 19. Thou shalt not lend to thy brother money at usury, nor corn, nor any other thing, but to a stranger. To thy brother thou shalt lent that which he wanteth without usury.

Psalm xiv. 5. Lord, who shall dwell in thy tabernacle? Or who shall rest in thy holy hill? He that hath not put out his money to usury, nor hath taken bribes against the innocent.

Psalm liv. Cast down, O Lord, and divide their tongues: for I have seen iniquity and contradiction in the city: day and night shall iniquity surround it upon its walls; and in the midst thereof are labor and injustice; and usury and deceit have not departed from its streets.

Ezech. xviii 8. The man that hath not lent upon usury, nor taken any increase; he is just, he shall surely live, saith the Lord God. And the man that giveth upon usury and that taketh an increase; shall such a one live? he shall not live; whereas he hath done all these detestable things, he shall surely die; his blood shall be upon him.

Ezech. xxii. 12. They have taken gifts in thee to shed blood; thou hast taken usury and increase ; and hast covetously oppressed thy neighbours; and thou hast forgotten me, saith the Lord God. Behold, I have clapped my hands at thy covetousness, which thou hast exercised. Shall thy heart endure, or shall thy hands prevail in the days, which I will bring upon thee? I, the Lord, have spoken, and I will do it; and I will disperse thee in the nations and will scatter thee among the countries. And her prophets have daubed them without tempering the mortar: the people of the land have used oppression and committed robbery; they have afflicted the needy and the poor. And I have poured out my indignation upon them; in the fire of my wrath I consumed them; I have rendered their way upon their own head.

Notice that the Prophet ranks here again usury or taking increase, with the most horrible crimes-murder, idolatry, incest, oppression of the poor, of the widow, and orphan, pollution of the sanctuary and the Sabbath.

Nehemiah v. 1. There was a great cry of the people, and of their wives against their brethren, the Jews; and there were some that said, Let us mortgage our lands, and our vineyards, and our houses, and let us take corn because of the famine; and others said, Let us borrow money for the king’s tribute, and let us give up our fields, and vineyards. Behold, we bring into bondage our sons; and our daughters, and some of our daughters are bond-women already; neither have we wherewith to redeem them; and our fields and our vineyards other men possess. And I was exceeding angry when I heard their cry according to these words; and I rebuked the nobles and magistrates, and said to them, Do you every one exact usury of your brethren? The thing you do is not good; why walk you not in the fear of our God, that we be not exposed to the reproaches of the Gentiles our enemies? Restore ye to them this day their fields, and their vineyards, and their olive-yards, and their houses; and the hundredth part of the money, and of the corn, the wine, and the oil, which you were wont to exact from them, give it rather for them.

Matt. v. 42. Give to him, who asks of thee, and from him that would borrow of thee, turn not away.

Luke vi. 35. If you lend to them from whom you hope to receive, what thanks have you: for sinners also lend to sinners for to receive as much; but love ye your enemies; do good, and lend, hoping for nothing thereby, and your reward will be great, and you will be the sons of the Most High.

The Koran on Debt and Usury

II. 274 Those who in charity spend of their goods by night and by day, in secret and in public, have their reward with the Lord: On them shall be no fear, nor shall they grieve.

II. 275 Those who devour usury will not stand except as stands one whom the Evil One by his touch hath driven to madness. That is because they say: “Trade is like usury,” But God hath permitted trade and forbidden usury. Those who after receiving direction from their Lord, desist, shall be pardoned for the past; their case is for God (to judge); But those who repeat (The offense) are Companions of the Fire: They will abide therein (for ever).

II. 276 God will deprive usury of all blessing, but will give increase for deeds of charity: For He loveth not creatures ungrateful and wicked.

II. 278 O Ye who believe! Fear God, and give up what remains of your demand for usury, if ye are indeed believers.

II. 279 If ye do it not, take notice of war from God and His Apostle: But if ye turn back, ye shall have your capital sums: Deal not unjustly, and ye shall not be dealt with unjustly.

II. 280 If the debtor is in a difficulty, grant him time till it is easy for him to repay. But if ye remit by way of charity, that is best for you if ye only knew.

II. 281 And fear the day when ye shall be brought back to God. Then shall every soul be paid what it earned, and none shall be dealt with unjustly.

Commentary on the text by Abdullah Yusuf Ali:

We recapitulate the beauty of Charity (i.e., unselfish giving of one’s self or one’s goods) before we come to its opposite, i.e., the selfish grasping greed of usury against those in need or distress. Charity instead of impoverishing you will enrich you: you will have more happiness and less fear. Contrast it with what follows,– the degradation of the grasping usurer.

Usury is condemned and prohibited in the strongest possible terms. There can be no question about the prohibition.

The following four verses (278-281) refer to further concessions on behalf of debtors, as creditors are asked to (a) give up even claims arising out of the past on account of usury, and (b) to give time for payment of capital if necessary, or (c) to write off the debt altogether as an act of charity.

 

Concerning the statement “take notice of war from God and his Apostle” (279) : This is not war for opinions, but an ultimatim of war for the liberation of debtors unjustly dealt with and oppressed.

III. 129 To God belongeth all that is in the heavens and on earth. He forgiveth whom He pleaseth and punisheth whom he pleaseth; But God is Oft-Forgiving, Most Merciful.

III. 130 O Ye who believe! Devour not Usury, doubled and multiplied; but fear God; that ye may really prosper.

The last verse spoke of forgiveness, even to enemies. If such mercy is granted by God to erring sinners, how much more is it encumbent on us, poor sinners to refrain from oppressing our fellow-beings in need, in matters of mere material and ephemeral wealth? Usury is the opposite extreme of charity . . . Real prosperity consists not in greed, but in giving,– the giving of ourselves and of our substance in the cause of God and God’s truth and in the service of God’s creatures.

XXX. 38. So give what is due to kindred, the needy, and the wayfarer. That is best for those who seek the Countenance of God, and it is they who will prosper.

XXX. 39 That which ye lay out for increase through the property of (other) people, will have no increase with God: But that which ye lay out for charity, seeking the Countenance of God, (Will increase): It is these who will get a recompense multiplied.

Riba is any increase sought through illegal means, such as usury, bribery, profiteering, fraudulent trading, etc. All unlawful grasping of wealth at other people’s expense is condemned. Economic selfishness and many kinds of sharp practices, individual, national, and international, come under this ban. The principle is that any profit which we should seek should be through our own exertions and at our own expense, however we may wrap up the process in the spacious phraseology of high finance or City jargon.

The Parable of the People of the Garden (LXVIII. 17-33) speaks of the rich owners of an Orchard who resolved to gather the fruits of the garden secretly in the early morning, and thus deprive the poor of their portion of the harvest. They were unaware that the night before ” there came on the garden a visitation from the Lord, which swept away all around, while they were asleep” As the morning broke they hurried to the garden speaking to each other in secret low tones, “Let not a single indigent person break in upon you into the (garden) this day.” But when they arrived at the garden they found it changed beyond all recognition. Instead of a rich harvest, it had become a howling wilderness. They said, “We have surely lost our way: Indeed we are shut out (of the fruits of our labor)!

Here the Koran recognizes the right of the poor to a share of the harvest, similar to the Biblical injunctions. In a later section of the Koran (LXIX 31-37) Hell-fire is promised those who neglect the feeding of the poor: “Seize ye him, and bind ye him, and burn ye him in the blazing fire. . . This was he that would not believe in God Most High, and would not encourage the feeding of the indigent! So no friend hath he here this day. Nor hath he any food . . . “

The Koran further instructs that those bound by debt should be helped to economic freedom:

IX 60 Alms are for the poor and the needy, and those employed to administer the (funds); For those whose hearts have been (recently) reconciled (to truth); for those in bondage and in debt . . .

Read more:

History of Usury Prohibition

Historical Views on Usury

Addicted to Debt– America is a Debt Junkie

Debt JunkieFrom the Grandfather Economic Report authored by Michael Hodges:

America has become more a debt ‘junkie’ – – than ever before with total debt of $57 Trillion – – and the highest debt ratio in history.

That’s $185,668 per man, woman and child – – or $740,260 per family of 4.

While 2008 total debt increased $3 Trillion, 8 times faster than GDP, total Debt in 2009 & 2010 stopped growing – like hitting a brick wall !!

While private sector debt dropped via defaults & foreclosures, federal government debt expanded $3.3 ($1.6 trillion 2009 + $1.7 trillion 2010)
[state & local govt. debt expanded $226 billion]

External debt owed foreign interests increased $1.2 Trillion in 2008, and $720 billion in 2010.

81% ($46 trillion) of all debt was created since 1990, a period primarily driven by debt instead of by productive activity.

And, the above does not include un-funded pensions and medical promises.

2 great questions:
Can the production of debt forever replace the production of goods and savings?
Can Americans forever borrow their way to prosperity?
Easy Answer > NO WAY !!

BIG PICTURE – $57 TRILLION of DEBT in America, and rising rapidly

the economy is 2-3 times more debt-dependent – – with $36 Trillion DEBT EXCESS compared to prior debt ratios.

Here’s one graphic of many shown in the main Total Debt Report.

national debt vs national income

National Debt vs National Income

Here is a chart showing trends of total debt in America (the red line) reaching $57 trillion in 2010 vs. growth of the economy as measured by national income (blue line). (adjusted for inflation).

Which line goes up faster, the red debt line or the blue net national income line? Answer: the debt line.

And, that debt line has exploded up faster and faster than national income! Right?

(maybe, like this chart, your own personal or business debt is also going up faster than your own income – – possible?)

As mentioned, debt is here defined as all U.S. debt (sum debt of federal and state & local governments, international, and private debt, incl. households, business and financial sector debts, and federal debt to trust funds).

This chart shows, for the period 1957 to mid 1970s, total debt (red line on chart) was increasing close to the growth rate of national income (blue line on chart), despite war debt for WW II, Korea and Vietnam.

But, in the last several decades total debt has zoomed up, up and away – – growing much faster than national income. As of beginning 2011 total debt was $57 Trillion ($40.8 trillion private household/business/financial sector debt PLUS $16.2 trillion federal, state and local government debt).

Steve Keen and more than just a Debt Jubilee

more than just debt cancellationSlowly it’s dawning on the economic doom and gloom commentators that something different is around the corner…. Here is a discussion which recognizes that Steve Keen’s proposal is more than just a “debt” jubilee. In fact, it’s a proposal for a REAL jubilee. Jubilee was more than just debt cancellation. It’s returning and taking back what has been stolen from you. It’s about JUBILATION, not DEPRESSION.
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