Armadebton: The Case For Hitting the Debt Reset Button – by Eric Blair – 2nd August 2011

In Uncategorized on January 29, 2012 at 4:13 pm
(Reset the debt clock to zero) Activist Post
Donald Trump tells a story about the Savings and Loan crash in the late 1980s. He was complaining to his young daughter at the time about how devastating the real estate plunge was for them. She didn’t understand why he was crying poor when they lived such a lavish lifestyle. The Donald pointed to a bum on the park bench and said, “You see that guy over there? He is billions of dollars wealthier than we are.” He was referring to the debt he owed to banks. On paper he was worse than broke, so he was actually poor compared to the penniless squatter in the park. But, in reality, he was still fabulously wealthy, as the debt was just an arbitrary number, and he still slept in a penthouse within a building he owned, not a park bench. And, of course, the banks had to work with Trump because he was too big to let fail. This story is relevant to the current debt “crisis” facing the United States. Although many believe the national debt to be real, it is also simply a number in a ledger. First, consider that about 12%, or $1.7 trillion, of the overall debt is owed directly to the Federal Reserve. Another $2.6 trillion is owed to Social Security.
Furthermore, other large private banks, including foreign banks, own a huge chunk of debt as well, most of it bought with the $16 trillion created from nothing and given to banks as bailouts. The amount owed to China pales in comparison. The scheme guarantees an income stream for the banks who got virtually free money backed by the U.S. taxpayer to invest in higher-interest bonds backed by the U.S. taxpayer. Next, the money never existed in the first place until it was created in the ledger. It was lent into existence in the moment of need. It started off as fiction and remains fiction. Since the banks never had the money it lent in the first place, they’re either collecting interest or seizing assets due to default from funny money. It’s not difficult to see how the banks will end up owning everything if this scheme keeps up for much longer. Finally, the American people don’t owe this money, just like the people of Iceland or Greece don’t owe their nations’ debts to a shadowy banking cartel. They did not sign a contract to borrow the money. They did not mismanage the funds, or borrow more money to paper over private banking losses. They did not demand wars with any of the victims of the government’s imperial conquest. They did not demand the PATRIOT Act and resulting behemoth surveillance-industrial complex. The taxpayer is not responsible for this debt as Stefan Molyneux explains. Yet, the politicians tell the same story Trump told: we’re worse than broke. It’s a crisis, economic Armadebton. America’s credit rating is at stake. Soldiers and seniors won’t get paid if we don’t extract more taxes and cut benefits. All while they go to bed in the penthouse. The real wealth of America has nothing to do with a phony number on the ledger. Some great wealth lies in the infrastructure — water systems, roads, electric grids, universities, buildings, farms etc. Some wealth lies in our capacity to make war.
But America’s greatest riches are its innovative people; each brought up to believe they can accomplish anything they put their mind to. This is precisely the reason Trump was not actually broke no matter what he owed to banks — because he had the ability to be creative, and the capacity to accomplish big things. If America defaulted and all debt was reset to zero, it would still be the wealthiest nation on Earth for the reasons above. The bankers argue that if the U.S. defaulted or lost its credit rating, no one would lend it money. That’s laughable. The entire world depends on the ebb and flow of American business, and it always will. Starting over at zero would likely cause a surge of new capital. Therefore, I propose to the banks a complete write-off of the national debt in exchange for your survival. In other words, the American people will probably forgive your crimes and the bailouts, if the banks forgive the debt — even-steven. Should the banks not accept this deal, they and their political cohorts will eventually meet their demise and lose everything. And unlike the American people, they have not been able to prove that they can create anything of true worth. ***Commentator’s Comments Anonymous said… I believe that the only way we can defeat the NWO in this country is for all of us to agree to not pay income taxes. Next is for every state to secede from the union. They can sit in Washington trying to figure out who they will steal from next. They don’t have enough FEMA camps to house 350 million citizens but there would be plenty of room for those crooks to live out their lives quite comfortably.
[[[ *** RESPONSE *** ]]]
This suggestion of default however could leave ALL Americans to the mercy to whatever NWO type social (think AUF and Breivik) and political forces WITHIN America (some say Trump is NWO, this dictatorship would serve him and his people if he was NWO – he backed out of Presidential runs but would suggest this???), the possibility for dictatorship by even law enforcement alone (much less military – Pres. Obama, how aboput forming a Junta as Supreme Commander with 3 to 5 star generals as various Satraps???) would be tremendous if regular citizens were villified. It is suggested that :
1) AFTER dismantling of the Federal Reserve, and
2) replacing ALL Congressmen / Governors and Senatorsof extreme wealth
3) replacing collusive or bad policy writing Bureaucrats and Quanngocrats (NGOs)
4) changing economic policies that do not work at all (i.e. the prison contractor system has to go)
5) also removing the ‘term limitless’ among political ‘seat holders’ (nothing is worse than a complacent Congressman, Senator or Governor, even Councilman or Mayor – ESPECIALLY if they are filthy rich)
6) and the wealth of the little more than 10,000 plutocrats sequestering 90% of near 300 million strong American population’s wealth redistributed
;a barter based deal on absolute value of debt as of 2011 be implemented, i.e. no more interest added (read up on Usury and Islamic finance, maybe a Sheikh or few could be consulted on infterest free loans), BUT that USA will return at non-interest added, all that it earns in the form of goods and perhaps manpower services at least.
Why return anything at all? So that ABSOLUTE Dictatorship from being ‘economically isolated’ for default, will not give free reign by the TSA/Fed Reserve/NWO/Greek Letter Club types free reign to abuse (if they haven’t been removed from policy making positions in government), and manipulate the average American citizen who are already quite severely NLP affected and even who knows, neuro-tech controlled.
Interest and usury, also fiat and quantitative easing  is b.s., but America should return it’s debts in good faith, as a responsible nation. Default all you want, America, but no more lending will be made to you and you should return what you owe. Meanwhile down with the plutocrats and politicians living the high life off writing bad policy while 300 million Americans languish !
Time for a second French Revolution, the ‘Nero’ types have returned and all they ever do is channel their funds and businesses overseas to tax havens or 3rd world economies where labour is still cheap. They have grown fat off the nation when times were good, and when times are bad this is the way they thank their homeland which was in fact stolen from the Native Americ-Red Indians?
Like locusts they are and they will likely betray all those 3rd world nations they invest in AGAIN, via their NATO/IMF/UN conglomerate nation level corporate raiders. A multipolar world order is needed. The autonomy of BRICS and the Caliphate, African Union, South America will ensure that 300 million Americans will not end up as in the film “Idiocracy” while all the technology and wealth goes elsewhere (I’d hazard even be taken to the Moon or Mars – no joke that GTA3 reference to off world issues . . . they will sabotage EVERYONE, so make sure their Rocket does not take off . . . the French Revolution type Guillotine whatever form it takes as deserving still awaits them . . . )

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