It Is Now Mathematically Impossible To Pay Off The U.S. National Debt

February 5, 2010

A lot of people are very upset about the rapidly increasing U.S. national debt these days and they are  demanding a solution. What they don’t realize is that there simply is not a solution under the current U.S. financial system. It is now mathematically impossible for the U.S. government to pay off the U.S. national debt.

You see, the truth is that the U.S. government now owes more dollars than actually exist. If the U.S. government went out today and took every single penny from every single American bank, business and taxpayer, they still would not be able to pay off the national debt. And if they did that, obviously American society would stop functioning because nobody would have any money to buy or sell anything.

Original Story

I.O.U.S.A. The Movie Review

November 2, 2008

Click Image for IOUSA Movie Trailers

Click Image for Movie Trailers

The 30 Minute version is here

There was a one night screening of I.O.U.S.A. in Columbus, so me and a couple guys went to go see it. I had a pretty good idea up front about what the movie was about, but I honestly surprised at the information the documentary presents.

It’s based off the work of David Walker, former United States Comptroller General from 1998 to 2008. He was the government’s chief auditor.

What he found was that we are living an unsustainable life style in the Untied States, and the only way we can afford to kept afloat is by borrowing from future generations. The clip below shows the budget for the last 30 years.

The whole movie is packed with information, one of those movies you need to watch 3 or 4 times with a pad of paper to take notes. But there were several points that stuck at me, that I’d like to share.

Number one is former United States Secretary of the Treasury, Paul O’Neil. You may not remember him but he had the job before Paulson, and I would like to note we would be in much better shape if he still had it. The clip below is of O’Neil talking about the White House. By the way his book, The Price of Loyalty is worth reading.

He basically got fired because he refused to cook the books the way the white house wanted him to, he was asked to resign, he said no, so they fired him. It bothers me that our government who spends our tax money, fires a guy with a respectable track record, and an honesty reputation because he wouldn’t lie.

Number 2, is this clip of Donald Rumsfeld on September 10, 2001. Rumors were beginning to leak to the press that there was a lot of money that the government had no track of, hows that for government being thrifty. so Rumsfeld finally comes out and has a press conference.

An interesting point is that on September 11 the plane that flew into the pentagon, happen to hit the very office where all of the investigation papers were about where that money went to. Needless to same the investigation was canceled.

Number 3 is the video clips in the movie of Ron Paul Drilling former Chairman of the Federal Reserve, Alan Greenspan. I couldn’t find the clips on YouTube. They are similar to this clip of paul questioning current chairman Bernake.

I did find this transcript of a February 17, 2000 congressional meeting between the two.

Dr. PAUL. Thank you, Mr. Chairman.

Good morning, Mr. Greenspan. I understand that you did not take my friendly advice last fall. I thought maybe you should look for other employment, but I see you have kept your job.

Ron Paul is by far the smartest man in Washington, especially about economics. And yet this is the guy that the media had to make look crazy so he wouldn’t break the domination of corporate America in Washington.

Is The Financial Crisis Part Of A Fascist Coup?

September 22, 2008

In one of the most passionate articles I’ve read in a long time, Larisa Alexandrovna from the Huffington Post lays out what could be the possible plans of a fascist  coup against the American People. An intentional coup to transfer unprecedented power to the Executive Branch and place public funds in the hands of the global corporate elite.

Alexandrovna stats:

We are in a crisis so dangerous that should these people succeed in their coup, your party affiliation will no longer matter, your American flag will be a nice collectible item of something that once was, and your version of God will be worshiped in secrecy because your freedoms will be owned by the few.

For those you don’t think George Bush is capable of this just remember this:

The Bush family, in the form of Prescott Bush, has tried a more aggressive coup before in order to install fascism in this country. This treasonous plot was called “the Business Plot,” because the high-level plotters – including Prescott Bush – were Wall Street men who openly supported fascism.

I would urge people to read the original story called “Welcome to the final stages of the coup…”