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Posts tagged US debt

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34 Shocking Facts About U.S. Debt That Should Set America On Fire With Anger

The Economic Collapse 

January 5th, 2012

The United States has gotten into so much debt that there will be no coming back from this. The current system is irretrievably broken. 

All of this prosperity that we see all around us is just an illusion. It is a false prosperity that has been purchased by the biggest mountain of debt in the history of the world.

Did you know that if you added up all forms of debt in the United States and divided it up equally that every single family in the country would owe more than $683,000?

We are a nation that is absolutely addicted to debt, and the U.S. debt crisis threatens to destroy everything that our forefathers built.

Yes, everything may seem fine for the moment, but what do you think would happen if the federal government suddenly adopted a balanced budget?

1.3 trillion dollars a year would be sucked right out of the economy and we would be looking at an “economic readjustment” that would be mind blowing.

Enjoy this false prosperity while you can, because it is not going to last.

Debt is a very cruel master, and our day of reckoning is almost here.

The following are 34 shocking facts about U.S. debt that should set America on fire with anger….

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Filed under economy politics U.S.debt US debt U.S. debt crisis national budget

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True state of the world’s de facto reserve currency

By David Galland 10/18/11

Given the role the US dollar plays as the world’s de facto reserve currency — with all major commodities priced in dollars, and dollars forming the bulk of reserves held by foreign central banks — the dismal shape of the US monetary system spells trouble for the global monetary system.

Making matters worse, following the lead of the United States, governments around the world long ago adopted similar fiat monetary systems. You can see the deficit contagion in this next chart. It is worth noting that the dire condition of the United States now leaves it in the same muddy wallow as Europe’s desperate PIIGS.

General Government Gross Debt

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Filed under economy economics politics news US dollar US debt fiat monetary systems reserve currency world's reserve currency global monetary system PIIGS Europe euroozone crisis deficit contagion

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Monetary Madness – Is the US Monetary System on the Verge of Collapse?

By David Galland 10/18/11

The US monetary system — and by extension, that of much of the developed world — may very well be on the verge of collapse. Falling back on metaphor, while the world’s many financial experts and economists sit around arguing about the direction of the ship of state, most are missing the point that the ship has already hit an iceberg and is taking on water fast.

Yet if you were to raise your hand to ask 99% of the financial intelligentsia whether we might be on the verge of a failure of the dollar-based world monetary system, the response would be thinly veiled derision. Because, as we all know, such a thing is unimaginable!

Think again.

Honestly describing the current monetary system of the United States in just a few words, you could do far worse than stating that it is “money from nothing, cash ex nihilo.”

That’s because for the last 40 years — since Nixon canceled the dollar’s gold convertibility in 1971 — the global monetary system has been based on nothing more tangible than politicians’ promises not to print too much.

Unconstrained, the politicians used the gift of being able to create money out of nothing to launch a parade of politically popular programs, each employing fresh brigades of bureaucrats, with no regard to affordability.

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Filed under economy economics US dollar US monetary system default US debt overt default covert default inflation stealth taxation David Galland

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US debt infographic


Kudos to the good people at usdebt.kleptocracy for coming up with an infographic that lets you see just how much debt the US is in.

So, given the above visual, how much space would you need for the US’ debt? A football stadium? Nope, it is way scarier than that. Have a look at usdebt.kleptocracy to find out. And then quietly weep.


(Source: simonburgo, via 11fuckeverything11)

Filed under economy economics politics US debt infographic national debt

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Watch this video and you will understand why the Federal Reserve must be audited as Representative Ron Paul has been stating emphatically for quite a long time. Currently the Fed is accountable to no one. Meanwhile it drains the very lifeblood of this country with impunity.


The Federal Reserve Awareness Project

Filed under economy economics politics Fed Federal Reserve central bank Bernanke Ron Paul accountability US debt