Friday, March 13, 2009



James Turk wrote in an report titled “Economic Suicide” in The Freemarket Gold and Money Report, March 2006: “…The dire financial straits the federal government is facing, its financial position, is even worse than it appears….In the 2005 Financial Report of the U.S. Government, U.S. Comptroller General David Walker reported that, ‘The federal government’s fiscal exposures now total more than $46 trillion, up from $20 trillion in 2000.’ Yes, it’s insane. But it’s even more insane that people buy the U.S. government’s T-Bonds and T-Bills, thinking that they are a safe, low-risk investment.”

In fiscal year 2000, 1.1 percent of the federal government’s cash flow came from new debt. This soared to 20.4 percent in 2005. During that period, total federal debt grew 40.5 percent. Higher interest rates will produce a 9.3 percent increase in interest on the national debt in the 2008 federal budget that will lead to cuts in social services, education, and health care.

There is pressure from budget belt-tighteners to reduce the government’s $46 trillion exposure by slashing future retirement benefits like Social Security or entitlement programs like Medicare, Medicaid, veterans’ benefits, food stamps, etc. Thus the most vulnerable members of society are expected to pay for structural financial problems that have left the federal government, according to competent observers associated with the Federal Reserve, functionally bankrupt.

... not sure how longer they want to wait ...
... to nationalize the federal reserve ...
... and start printing greenbacks ...
... now it seems quite obvious that if the sharks count on deflation ...
... a "government" deserving to be called as such should produce ...
... both a reduction to zero interest paid ...
... and a growing inflation ...
... to prevent the voltures from benefitting ...
... of the bubbles they created intentionally ...
... in other words spend money on "real" economy ...
... and cut the legs of speculation ...
... maybe the only solution left to the west ...
... is to eliminate interest all togetter ...
... and force inflation ...
... to jump start the "real" economy of production ...
... instead than the usury economy of bankers ...






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