$7,148,485,831,875.31

[goBigtime]

God damn!

The US National debt as of 05/14/2003 was $7,148,485,831,875.31

7.1 TRILLION DOLLARS.


Another site reported that since 09/30/2003 the national debt has gone up an average of
1.58 billion dollars per day.

WTF?!


Who do we owe this money to anyway?

[bringer]

you owe me
interest rates are %900 too

[Corleone]

yeah and the iraq war costs 114 billion + $1000 / second

there goes your money

[Dirty F]

Originally posted by Corleone
yeah and the iraq war costs 114 billion + $1000 / second

there goes your money

Yup what he said.

[iDiz]

Originally posted by goBigtime
God damn!

The US National debt as of 05/14/2003 was $7,148,485,831,875.31

7.1 TRILLION DOLLARS.


Another site reported that since 09/30/2003 the national debt has gone up an average of
1.58 billion dollars per day.

WTF?!


Who do we owe this money to anyway?

[kenny]

Iraq was accounted for what 1% of that maybe

[goBigtime]

Originally posted by goBigtime


Who do we owe this money to anyway?

Found the answer....




"As you can see, the largest slice of the pie, over 40%, is owed to the Federal Reserve Bank and to other government accounts; that is, this part of the Debt is owed by one part of the government to another. The remaining 60% of the Debt, roughly $3.3 trillion, is privately held."

( from http://www. brillig.com/debt_clock/faq.html )

[EviLGuY]

So much for Republican's paying down the huge Democrat deficits.

Thats a nice debt load.

[The Heron]

Not like we're going bankrupt, who cares!

[goBigtime]

And people always make it sound like our debt was ZERO during Clintons time. Don't be fooled. They are talking about FISCAL budgets... as in, for that year, they didn't steal more money than they took in, and so they had a little left over that was applied to the debt.

During Clinton's presidency though, the national debt did do the unfathomable - it went down a little (at least they way they reported it, I dunno the facts).

I was just reading that one year (2000?) the budget surpls was like $230 billion.... ok, but did they apply it to the national debt? or does it get automatically applied or what? I think they have to apply it to the debt... write a check to the FRB or something.

If we had _30 years_ of those rare surplus years @ $230 billion a year, AND applied 100% of it to the national debt, AND if the national debt didn't accrue futher interest during those 30 years (wouldn't that be nice) -- then we could pay off the national debt.


The bottom line is we're slaves.

We always will be.

And they love it.

[Webasic]

[Babel]

Originally posted by goBigtime
God damn!

The US National debt as of 05/14/2003 was $7,148,485,831,875.31

7.1 TRILLION DOLLARS.


Another site reported that since 09/30/2003 the national debt has gone up an average of
1.58 billion dollars per day.

WTF?!


Who do we owe this money to anyway?

Rothschild and Friends, A.K.A. The International Banking Houses

[unconnected]

So that was a 114 billion dollar artillery shell you guys found today in Iraq..

Good for you, it was ALL worth it now..
I don't know about you, but I have trouble sleeping at night knowing that that that Artillery shell was out there just waiting to go off

[kenny]

Thats alot of money it takes the US like 7 months to make that

[KraZ]

Thank God, I don't pay US taxes ...

[Ross]

Damn thats a lot of money to owe... A helluva lot

[tranza]

Wow.... That's impressive...

[Manowar]

$1000 a second, holy shit - what a waste of unjust taxation

[dunefield]

thats alot of numbers...

[hottshot]

FACT#1. The Federal Reserve is a private corporation, owned and controlled mostly by foreign bankers.

FACT#2. How the Federal Reserve banks work (using a 10% reserve requirement).

1. F.R. "creates" $1,000,000 worth of "debt certificates" with no assets behind the creation, just the "OK" of Congress, and distributes it to banks.
2. The bank "Holds" the 10% reserve as operating capital ($100,000) and loans the rest out at 10% interest.
3. The bank pockets $90,000 in interest, and accepts the $900,000 back as a deposit.
4. The bank retains 10% of the $900,000 deposit as a reserve, and loans out the $810,000 at 10% interest.
5. The process is repeated over and over, with "hard" assets pledged as collateral for these "loans". Thus, it starts with "no money" and ends up with houses, cars, land, silver, gold...real assets...and all it took was some ink, some paper, and the cooperation of Congress.
FACT#3. The BIRTH of money #1...Congress authorizes the F.R. to purchase U.S.Notes from the U.S. Bureau of Engraving for 2.5 cents per bill (no difference between $1 and $1000 bills). The F.R. then issues an equal amount of "debt certificate" Federal Reserve Notes which they use to purchase U.S. Treasury Bonds. Taxpayers are, supposedly, obligated to pay off these bonds at FULL FACE VALUE, plus the debt of the original currency purchased at 2.5 cents per bill!

FACT#4. The BIRTH of money #2...All credit is hypothecated upon the faith and worthiness of the "United States". Congress authorizes various corporations to extend the credit of the United States (as a privilege, not a right) to finance mortgages and other types of credit. You and I could not set up shop to extend credit to others, except we be licensed and approved by the government. Thus, it is not the mortgage company, with whom you sign a contract, who extends you credit...they are only an "agent"... it is the United States who is the party with standing, and the only entity which can sue or foreclose for breech of the contract. BET YOU DIDN'T KNOW THAT! Then there is the credit contract itself...a fraud perpetrated upon the buyer everytime. It is another means of "creation" of money. There is no "money" exchanged in the mortgage transaction. It is a book entry made by the "agent" which "monetizes" the value of the real thing, the property involved. No contract is valid except both parties bring something of value, called "consideration", to seal the contract. You are bringing the property, and the promise of future payments...they bring nothing but the ability to create credit...a congressional "okie-dokie"...to the contract. Thus the government fraudulently claims superior ownership rights to the property involved, and the ability to charge the "tenant" rent (called property taxes) for the privilege of using paper credit.

FACT#5. The taxes paid by Americans never provide ANY services to our country...all collected income tax money goes DIRECTLY to the F.R. Board (check the back of ANY check sent to the IRS...it is true).

FACT #6. All U.S currency is "Federal Reserve Notes" of debt, owed to the Federal Reserve, and is borrowed into existence. How can you pay the debt when you have to "borrow" the currency to pay the debt, FROM THE GUYS YOU ALREADY OWE? It is like paying off your VISA card using THE SAME VISA CARD...the interest just keeps growing, and no principal is ever paid! It is a ponzi scheme....a scam...and America is the mark!

Thus, .national debt can never be repaid . It is not meant to be repaid. It is meant to bring Americans to ruin without bloodshed. It is the legal takeover of the country, piece-by-piece, and the voluntary enslaving of the sovereign people, who will ULTIMATELY be asked to accept the demise of the Constitution, and their sovereign status under that Constitution, to become "subjects" of the benevolent ruling class

[KRL]

Its all funky accounting and in reality just a big circle jerk.

When the government spends more money then it takes in it has to have on the books loans to technically cover these amounts. Kind of like if you write checks that people don't have money for you give them overdraft protection and they get a float.

Keep in mind the US prints money so what you can't have happen is money printed without some kind of accountable backing system for economic purposes. It used to be backed by Gold until 1973 when Nixon took us off the Gold standard.

So the Treasury conducts auctions and sells the deficit spending into the future by having people buy bonds and T-bills and other securities.

Who buys these debt instruments? Pension funds, foreigners, corporations, individuals, etc.

So in essence its a big circle. Because the government in reality is us. So its like we're loaning to ourselves money to cover our own debts that went beyond our true spending means. With the exception of the foreign buyers of course.

However with the foreigners we loan money to countries or give them a lot of business to make up for the debt we sell them. For example Saudi Arabia is one of the biggest investors in the US, I forget the exact figures off hand but its over $100 Billion. So we buy oil for exhorbinant amounts and they turn around and lend the money back to the US by investing in US government securities which are considered the world's safest.

Everything is pretty much circular when you get to the core. But its the circularity that creates and nourishes economic prosperity as the circles get ever larger.