This is a transcript of Jim Willie from 3:18 to 5:00 in part 2.
"Here are some of the figures, in just June(2010), the government has $68 billion dollars in deficits, but they issued $211 billion dollars in treasury bonds. In the last 45 months, we have issued $4.7 trillion dollars in treasury bonds, but only accumulated $3.2 trillion dollars in government deficits.
I like to look at the big picture, because in the last 45 months we have had $1.5 trillion dollars extra treasury bonds, that have been sold after issuance, and I would like to know where the proceeds are being held.
In just the first 6 months of this year the excess is $290 billion dollars. So were printing a whole lot more treasury bonds than we have deficits, and I ask the basic question, wheres the money go?
I have an idea where it goes, I think it goes in to Goldman Sachs, J P Morgan, board members of those banks, other top banks in the big four. I think they are just squirreling money away, stolen money, counterfeit. I call it counterfeit when you have over issuance.
If you look back in the 1990s decade, you see reports that J P Morgan issued and sold $2.2 trillion dollars more in treasury bonds than the deficits dictated for that decade. I believe the records for that are at Cantor Fitzgerald over at the World Trade Center."
Editor note: The World Trade Center disappeared on 9/11/2001
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