But first consider the economic backdrop for this swindle:
$1.9 trillion in this year's extra spending; "unfunded" liabilities (e.g. promises to pay social security & Medicare benefits for every American now alive) are soaring past $56 trillion, with the personal family share of this total future indebtedness now amounting to $438,000. Plus bailouts, tax cuts and stimulus spending that have now got us burning through an eye-popping $200 million an hour. And all this is on top of the huge annual interest payments on our $12 trillion national debt, the vast majority of which was bequeathed to us by Ronald Reagan and the two Bushes. All by himself, Bush43, the great "W," doubled the national debt from $5 to $10 trillion as of 9/30/08!
Now, to capsulize the great swindle before we explore it in detail:
* In the simplest terms, it's a government-backed
shell game that cheats us in three separate ways:
* The "triple-swindle" starts when bureaucrats prop up their fake"recovery" with tax-funded bailouts and huge "cash advances" from foreign lenders...
* Our Fed secretly funnels billions of dollars to foreign lenders, and then borrows it back again just to keep the scam from collapsing...