posted on Jun, 6 2010 @ 04:13 PM
It's pretty hard to get out of debt when you have a debt based currency. Each and every dollar that is issued, has interest attached to it. This
means that the money we use to pay off our debt, only puts us into more debt. Really, the only winner here is our central banking system known as the
Federal Reserve which is quasi-owned by the banks who do business with it. I will refer to the Federal Reserve System as the 'Bank' from here on out
in this post.
It's just like borrowing money to make the minimum payments on your credit card, you only go into more debt and even if you borrowed enough to pay
off the entire credit card, you would still be in debt from the new money loaned and this does not even take into account your living expenses.
If your living expenses exceed you income, then you need to borrow money to live. The US government is no different. For instance, we export far less
than we import, creating a trade deficit. That trade deficit is paid for by borrowed money. So, not only do we need to borrow money in order to make
minimum payments on our credit card, but we also need to borrow money to pay for our living expenses.
One source of income that the US government does have is tax revenue, however this revenue doesn't even begin to pay for the interest that is tacked
onto each and every dollar that trickles down through the system that winds up being the money taxed.
In fact, the income tax was established in 1913 by the 16th Amendment of the US Constitution for the sole purpose of paying off the debt incurred by
the issuance of currency through the Federal Reserve System. Basically what had happened, is that the Bank meandered our government into letting them
turn Americans into wage-slaves by establishing a debt-based currency and forcing Americans to shoulder the burden for their profit.
What this all boils down to, is that we are in a pickle that we are not going to easily overcome. We no longer have our manufacturing base and while
we technically have transitioned into a service-based economy, the reality is the we have a debt-based economy. We spend far more than we make and
then on top of it all, we are going into debt by the mere process of issuing more money for basic necessities. Even if we capped our unnecessary
spending, such as our empirical policies, we still do not produce enough to get our debt under control.
The bankers and elites are profiting from all of this while the average lay-person is shouldering the burden. We have nowhere to go but down and it
will eventually crash, absolutely no doubt about it. This economy can not be sustained in any way, shape or form. It will crash but by then, the
elites will have robbed us blind, plundering everything that we might have been worth, so it is no sweat off of their back. They are going to ride
this ship to the end, before getting off and leaving us with the wreckage.
It really is that simple. We could cap all of the spending that we want but that will hardly do any good in the long run. This debt based monetary
system is designed to profit the banks at the people's expense and the only way to sustain such a system, is to have a very good manufacturing base
or at the very least, to produce more than we consume. Even if we produced more than we consume, it would be the people's labor that is used to pay
off the interest attached to the debt based monetary system.
This should be outrageous to the people because such a system is only designed to profit the bankers. There is absolutely no need for a debt based
monetary system. Article I, Section 8, Clause 5, of the United States Constitution provides that Congress shall have the power "to coin Money,
regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures". This is not what is happening. This task is being
performed by an institution that is quasi-owned by a group of "for-profit" banks.
Just my 2 cents.