US Total credit market debt = 59 Trillion dollars
That represents all US dollars in existence (paper and digital).
Assuming an average interest rate of 3%, US economy pays 1.77 Trillion dollars per year, just in interest costs alone! That's 10% of GDP, that goes to pay bankers for the privilege to use our own money.
Seniorage, as the banking douchebags call it in their sophisticated parlance, is why America, like the world, is bled out perpetually like a stuck cow and trapped in a death spiral.
Solutions are easy.
1) Nationalize the banking system - distribute 99% of profits generated from banking to citizens. Check in the mail, every quarter, to every citizen of the country. The retained 1% is used to reward performance targets met by the bank, in terms of bad loans (ie, if bad loans are kept under 2%<, executives make 350K instead of losing their jobs etc.)
2) Print Greenbacks to finance the debt - create debt-free money. The idea that money and debt are the same is bullshit invented by the parasitic banking cartel. Money is NOT debt. That's what gold and silver are......debt-free money! That's why they are reviled and hated by bankers and their media shills all around the world - precious metals represent a much cheaper, and more prosperous money solution then debt-backed money!!
Restore the greenbacks. Allow the Treasury to print Greenbacks every year to pay deficits. No more national debt. Retire the entire national debt with greenbacks (money not linked to debt). This would save the economy nearly half a trillion a year in interest payments (immediate 2.5% boost in GDP, in perpetuity!).
Restore gold and silver as legal tender. This is another form of debt free money. There is no interest accruing to a silver dollar, or gold ounce coin to some dirty banker who did nothing but enter some ones and zeros in a computer. It's just interest free money. The way it was intended.
I'll leave you with this - the world is crippled in debt, a prison of our own design. Bankers rule the world because they convinced Governments to give them seniorage, the power of the printing press (perhaps the greatest power of all). With that, they have bought up the world, twisted it and corrupted it to their own design, and made us all slaves to this demonic system which literally feasts off our collective, honest labors while giving us nothing in return, but permission to continue in their system. We have to pay them tribute for our existence, when they are nothing but cockroaches feeding off humanity. They are no better then drug cartels and oppressive tyrants, but here at elitetrader, we revere them. Up is down. Black is white. We can't change the human heart, but we can legislate systems that work against it.
That represents all US dollars in existence (paper and digital).
Assuming an average interest rate of 3%, US economy pays 1.77 Trillion dollars per year, just in interest costs alone! That's 10% of GDP, that goes to pay bankers for the privilege to use our own money.
Seniorage, as the banking douchebags call it in their sophisticated parlance, is why America, like the world, is bled out perpetually like a stuck cow and trapped in a death spiral.
Solutions are easy.
1) Nationalize the banking system - distribute 99% of profits generated from banking to citizens. Check in the mail, every quarter, to every citizen of the country. The retained 1% is used to reward performance targets met by the bank, in terms of bad loans (ie, if bad loans are kept under 2%<, executives make 350K instead of losing their jobs etc.)
2) Print Greenbacks to finance the debt - create debt-free money. The idea that money and debt are the same is bullshit invented by the parasitic banking cartel. Money is NOT debt. That's what gold and silver are......debt-free money! That's why they are reviled and hated by bankers and their media shills all around the world - precious metals represent a much cheaper, and more prosperous money solution then debt-backed money!!
Restore the greenbacks. Allow the Treasury to print Greenbacks every year to pay deficits. No more national debt. Retire the entire national debt with greenbacks (money not linked to debt). This would save the economy nearly half a trillion a year in interest payments (immediate 2.5% boost in GDP, in perpetuity!).
Restore gold and silver as legal tender. This is another form of debt free money. There is no interest accruing to a silver dollar, or gold ounce coin to some dirty banker who did nothing but enter some ones and zeros in a computer. It's just interest free money. The way it was intended.
I'll leave you with this - the world is crippled in debt, a prison of our own design. Bankers rule the world because they convinced Governments to give them seniorage, the power of the printing press (perhaps the greatest power of all). With that, they have bought up the world, twisted it and corrupted it to their own design, and made us all slaves to this demonic system which literally feasts off our collective, honest labors while giving us nothing in return, but permission to continue in their system. We have to pay them tribute for our existence, when they are nothing but cockroaches feeding off humanity. They are no better then drug cartels and oppressive tyrants, but here at elitetrader, we revere them. Up is down. Black is white. We can't change the human heart, but we can legislate systems that work against it.
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