the BIGGEST bank heist in history
I haven't written about it in some time, because so much other sh*t has been happening in the world - incidentally, financed by the same people (without money and energy, wars are not possible) - but, it doesn't mean that 'it' is not on my mind.
'It' is the single, most unnoticed, yet destructive force in the world and was the raison d'etre for this blog when I first launched it.
If you haven't seen From Freedom to Fascism, Monopoly Men, or other assorted documentaries about the biggest scam on earth - you probably don't understand, or realize the explosive power of 'interest' on our personal and collective debts - literally, it's a ticking TIME-BOMB.
America is dangerously close to a debt explosion that will make the 'Big Bang' look like fireworks.
The numbers for fiscal 2006 are in, and the bleak prospects of our exponentially escalating interest expense bodes particularly ill toward any hopes of balancing any future budgets. Interest expense on our debt for fiscal 2006 totaled 405 billion, blowing away the next highest interest expense total in 1998 of 363 billion. At 405 billion, interest expense for 2006 composed a whopping 70% of our total on-budget deficit for the fiscal year.We're being set up, both as a nation and as individuals, for the biggest bank heist in history - but, it's the banks that will do the robbing - when they call in all their 'loans' and seize all our property.
What will happen to this debt now that higher average interest rates are required to service our national debt, following 14 consecutive Fed rate hikes? Average issued debt maturity is just 55 months (and getting time shorter).
With total U.S. debt at 8.506 trillion dollars, this resulted in an on-budget deficit for 2006 of 574 billion, the second largest in our nation's history, just 22 billion under the all time record deficit set in 2004. The very next reported day - the first day of the new fiscal year (October 2, 2006) - U.S. debt increased by over 42 billion dollars.[!!!] If this had been added to the reporting day before, the total deficit for 2006 would have shot up to 616 billion, blowing away the former all time record deficit of 2004 by 20 billion dollars.
And keep in mind - more often than not, they didn't even earn the money they loaned US, they either borrowed it from someone else at a lower interest rate (aka, the carry trade), or they collected it from someone else, through extortion.
Such is our cannabalistic money system - literally, a dog-eat-dog world - where the first canine is a lender and the second is a borrower.
Thanks, Real Wealth Society