1. The economic scheme in the U.S. of creating fiat book-entry money via T-securities in the amount of the principal of the security with a promise to repay the principal PLUS the interest (i.e., deficit spending), is impossible. The interest is never created. The debt must continually be increased to pay interest on earlier securities or the economy will collapse from de-leveraging;

2. The National Debt can never be paid off. Contracts that cannot be culminated are void from their inception;

3. The $8.4 trillion received from 2010 T-security auctions is hidden in the coffers of the FRBNY; its destination is unknown. (If it was used to redeem securities as claimed, there would be no inflation.) Whether concealment of this income from Congress is in violation of Title 12 section 247, or constitutes embezzlement, is for Congress to determine;

4. Congress has temporary benefit of ($1.4 trillion) deficit spending until maturity of the securities. At maturity, the government must pay the value to the security holder. The redeeming payment of maturing securities is not recorded on government records;

5. Fiscal social obligations of the nation will be restricted while debt will escalate. The future explosion of interest (currently suppressed to ‘stimulate’ the economy) and escalating debt will eventually consume the entire wealth of the nation and of posterity for the benefit of “financiers”;

6. The operation is, as with any Ponzi scheme, predestined for inherent national bankruptcy when buyers to roll over the debt cannot be found.

7. As the scheme becomes visibly precarious, the interest rate will sky-rocket and accelerate the collapse.