2. You and I are held responsible for paying interest on the bonds, which are essentially IOUs on which interest must be paid: the above named entities have loaned us money and they are entitled to interest payments for as long as they hold the bonds.
3. Uncle Sam collects taxes from people like you and me, and uses a good part of it to pay that interest to the bondholders. (Interest payments on the national debt comprise the third largest item in the U.S. budget.)
4. Problem is, the indebtedness and the mounting interest payments on that debt are breaking us; we citizens are systematically being bled, and most of us are becoming ever less privileged as a result, with many of us falling out of the middle class into poverty or near poverty, thanks also to the ever higher rents and ever lower wages that many of us are hit with. And because of this systematic and continuous bleeding of America's middle class, life will not be the same in years to come. For most of us, our children and grandchildren will be much less 'successful' than we are.
To sum up,
Uncle Sam borrows all its spending money from the non-government Fed and others, and spends only these borrowed dollars, raised from exchanging Treasury bonds for dollars borrowed at interest. This growing indebtedness, plus the interest that must be paid on it, is then placed squarely on the back of Joe Citizen, for collection. This then accounts for a great part of the taxes that Joe, you, and I, must pay every year, which is a wholly unnecessary burden.
In the simplest possible terms, Uncle Sam collects income taxes from us, and funnels the money to the holders of these criminally arranged and criminally sold Treasury bonds, the buyers and holders of which, if they are individuals, have incomes and wealth holdings that are usually way above average.
The Fed/Treasury is, therefore, a criminal organization in this sense too, preying on those of us who don't have enough discretionary savings to buy and own Treasury bonds. Result: Our collective indebtedness now amounts to some $14.5 trillion. To reiterate, this is really our debt, not the government's debt. The government does not generally earn money;we do. Therefore every criminally-arranged debt certificate (Treasury bond or T-bill) the Treasury exchanges for cash is a debt transferred to you and me -- it's a promise to pay, for which citizens are made responsible to pay by way of their income taxes. In simple terms it's as if we are all continually being presented with copies of IOUs, magically signed by us without our consent, and that never stop accumulating and that, in the form of IOUs, are continually being laid at our doorstep, with our signatures on them. "We owe, we owe, and therefore off to work we must go" -- partly so as to be able pay interest on this ever expanding indebtedness that we never consented to take on. (Still more thievery!)
And now for the blockbuster realization that is kept hidden from sucker Joe and most other US citizens:
Next Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
4
3
2
