In Debt We Trust - America Before the Bubble Bursts

I will watch the video, but first, did you see that “national debt clock” behind the people in the video? It’s in New York City.

The clock is a scam maintained by the Durst Organization, a Jewish family-run, commercial and residential real estate company in New York City.

I say it is a scam because it is designed to perpetuate the myth that the U.S. government must “live within its means.” In reality the US government can obtain all the money it needs for wars and bailouts, since the bankers create money out of thin air. But of course the bankers will not create money for social programs. Hence the private central bankers, plus politicians, plus media shills, falsely claim that when it comes to social programs, the USA is “broke.”

If the politicians wanted to, they could take back power from the bankers and pay off the USA’s national debt instantly. All of it. POOF – gone. The only reason there is a national debt is that the US government chooses to borrow its currency from private bankers and speculators.

Actually the national debt is not even a debt. It is money that investors give to the US government when they buy Treasury notes. If investors have bought $15 trillion worth of notes, then those notes are out there being traded back and forth, just like currency. The corporate media calls this money a “debt,” so the media has an excuse to claim that there is no money for social programs.

Americans wail and moan about the national debt, blaming this or that politician for “overspending.” Some blame Democrats. Some blame Republicans. None realize that it’s all a scam to distract the masses. The “national debt cock” helps to maintain this scam.  
 
The same scam occurs in Germany, which also has a “national debt cock” in Berlin. It is maintained by the German Taxpayers Federation, which is a front for the big banks. The group claims to seek a reduction in government spending, which is bullshit, because government spending (plus bank lending) is the main way that money enters the system. When government spending is reduced, then so is the money supply. The result is a Depression, in which there are not enough bits of paper currency changing hands.

The only real limit to government spending is inflation. The USA has inflation now, but it's an inflation of debt for average people. It's not a true money inflation per se. Prices rise because people have less money, and vendors must compensate by raising prices.

I will watch the video.

The video focuses on credit card debt. In the USA it is still possible to get credit card debt discharged through bankruptcy, although it is more difficult than ever.

However it is not possible to discharge student loan debt, except by dying.  

The video says that student loan debt has increased because lenders manipulate interest rates. Actually the colleges and universities are in on the scam. The more they raise their tutions, the more students must go into debt, and the more lenders dispense the debt. Tuition and student loan debt increase each other. College presidents collect massive salaries for perpetrating this scam. Bankers collect even more.

I blame average people for this. Each time I see a reader comment in which a person throws an insult like. “You’re a socialist,” or “You’re a conspiracy theorist,” or, “You support bloody dictators like Assad,” I think, “It is because of maggots like YOU that all of us are being impoverished.”  

Incidentally I live in a part of the USA where 95 percent of the people (the White ones, anyway) and racist, war-mongering, Jew-loving, right-wing cattle, as stupid as they come. It is "Tea Party" heaven.

And the older and fatter a White person is, the more idiotic he or she is. (I myself am White.)