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News Link • Government Debt & Financing

Borrowing is one thing and paying it off is quite another! (Video)

• The Political Commentator, Michael Haltman
The US debt ceiling debate is an interesting political sideshow, but just how serious could the actual problem be? What do Americans think? A recent CBS New poll that asked Americans whether or not the federal debt limit should be raised showed that almost 65% think that it should not be! Given that result, compare the current federal debt crisisto the potential ramifications for any family USA, a smallindividual borrower who gets a $100,000 loan at a 1%initial interest rate. This 1% is a teaser rate that will be adjusted at some point in the future to a prevailing market interest rate...

1 Comments in Response to

Comment by Ed Price
Entered on:

The Federal Reserve Bank authorizes some placing of ink on cloth-paper. This is commonly known as printing - in this case, printing money. Or they authorize entries in bank ledgers. All this cost them almost nothing - nothing when compared with the face value of the money they print, and the face value of the entries in the bank ledgers.

Then the banks loan this virtually valueless money at FULL face value to the Government and/or the people.

When the people and the Government repay the loans, they repay them in FULL face value amounts - amounts placed their by the labors of the people - not amounts placed there by a simple printing processes, or by simple entries in bank ledgers, like the banks do.

The banks and the Federal Reserve Bank receive, many times over, the value of the simple printing of the dollar... when the dollar is repaid to them. And if the people won't repay the loans, the banks won't lend them any more.

Now, NOT borrowing from the banks wouldn't be such a problem except for 2 things:
1. ALL the money that the whole country has in its possession is in the form of loans, borrowed from the banks. The people own none of it. It is ALL to be repaid, because it has ALL been borrowed from the banks.
2. The Government and the banks won't allow any other form of money. Oh sure, the people can diddle around with little barters on a person-to-person basis. But it is illegal to introduce any other form of money that might even begin to compete with the valueless, printed money of the Federal Reserve Bank.

We, the people of America, are slaves to the banks. They loan us money they create out of thin air. We fill it with value by our sweat and labor. They receive it back as loan repayments, filled with the value of our labor. Then they use it for what?

The Federal Reserve Bank sends our labor in the form of money, to the IMF (International Monetary Fund) to finance any and all good and evil done all around the world... anything they see fit - to make slaves of the entire world.

So, it is We The People, in the land of the free, who are financing the making of slaves of the whole world... slaves to the elite of the banking systems. It is We who are unwittingly supporting all the strife and poverty caused politically, all around the world. And we, ourselves, are also bowing, as slaves, to the banks... even though we don't realize it.

Isn't it time to topple the banking systems of the world and set ourselves and the whole world FREE!


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