Debt & America: How Debt Defines American Society, On Both The Federal and Private Levels

If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson –

The current debt of the United States Government sits at $19.97 trillion dollars and literally rising by the minute: http://www.usdebtclock.org/

Not only this, but the United States Government has operated under an annual “budget deficit” every year dating back to 2002. In other words, the US Government has spent more money than they have owned every year for the last 15 years, partially leading to the $19.97 trillion dollars in “National Debt” that the country currently owns.

While this is alarming in its own right, at the same time, Donald Trump has increased funding to US military another 50 billion dollars in 2017 and earlier this year the Republican led Congress failed to pass a yearly budget. Instead, they passed a temporary budget measure set to expire next month, when the US Government risks defaulting on it debt for the first time in history. You can read more about what a default would mean for the country and its people here: https://www.thebalance.com/u-s-debt-default-3306295

Amusingly enough, Donald Trump has also threatened to allow the “US default” and “Government Shutdown” to occur, if Congress does not add more money to the budget to build Trumps long since promised “US Border Wall” with Mexico. Donald Trump has also long since called himself the so called “King of Debt.” So, perhaps it is only fitting that he would become the leader of the United States one day.

As for the citizens of these United States, unfortunately, the news is not much brighter. For example, the average American has over $7,000 in credit card debt: http://www.valuepenguin.com/average-credit-card-debt

On average, every “household” in America combines for over $16,000 in credit card debt: https://www.nerdwallet.com/blog/average-credit-card-debt-household/

The average home “owner” in America still owes over $164,000 on their mortgages to a bank: http://www.bankrate.com/finance/mortgages/states-with-most-mortgage-debt…

The average adult in America owns $225,238 in overall personal debt: http://investorplace.com/2013/09/report-average-american-in-debt-hundred…

In an August 2015 survey, 80% of Americans admitted to being burdened by some form of debt and over 70% of American’s admitted that they could not afford their quality of life without the active use of some form of debt: http://www.pewtrusts.org/en/research-and-analysis/reports/2015/07/the-co..

Moreover, it is estimated that each month 43% of all households in America actively spend more money then they make: http://www.businessinsider.com/ny-fed-q4-2014-household-debt-2015-2

Approximately 41% of Americans either have a re-occurring medical expense or are currently holding outstanding medical debt: http://www.eurekalert.org/pub_releases/2008-08/cf-7mu081908.php

As for those at the very bottom of the economic food-chain, according to estimates by Amnesty International, nearly 3.5 million Americans battled homelessness in 2015: http://www.nationalhomeless.org/factsheets/How_Many.html

That statistic is perhaps made worse considering that there are over 1.7 million foreclosed homes in the United States, homes that are completely vacant and owned by banks: http://www.statisticbrain.com/home-foreclosure-statistics/

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The cost of college in the United States has risen over 500% since the 1970’s: https://www.forbes.com/sites/steveodland/2012/03/24/college-costs-are-soaring/#18f152001f86

As a result, the average college student will now graduate with over $28,000 in student loan debt: http://ticas.org/posd/map-state-data

This might not be so terrible on the surface, but over the course of the last 7 years the unemployment rate for recent college student graduates has fluctuated between 26 – 30%. For some perspective on this figure, this number is more than double the average unemployment rate for older demographics: https://nces.ed.gov/fastfacts/display.asp?id=561

Changing gears slightly for a moment, I would now like to talk about the absurdity surrounding the Federal Reserve and their management of US currency. According to FederalReserve.gov only $1.56 trillion dollars exists in physical circulation: http://www.federalreserve.gov/faqs/currency_12773.htm

This means that only $1.56 trillion exists in the form of real world money, meaning actual dollars and cents that you can physically hold in your hand. Remember though, the United States of America has $19.97 trillion in national debt. Just take a moment to think about that for a second, only $1.56 trillion exists in physical currency, but the US owns over 19.97 trillion in debt? In other words, only .07% of all the money we owe actually exists, 93% of the money we owe simply exists as debt, as numbers transferred from computer to computer inside “cyberspace.

If every dollar and coin in existence was handed in tomorrow, not only would there be no money let for anyone in society to spend, but the US would still owe $18.4 trillion dollars to the “international bankers” whom actually manage the FED – our nations monetary supply. I am not going to say that it will ever happen but, theoretically, if every person in the US closed their bank accounts tomorrow morning, none of the banks could cover the full amount of each account owed. It would quite literally be impossible for them to cover, because logistically speaking, not enough money physically exists to do so.

The fact of the matter is that, as it stands today, the United States of America has transitioned itself into a “Debtor Nation.” This is true for both the United States Government and the citizens of this country.

Image result for modern slaves are not in chains they are in debt

 

Oh and by the way, I forgot to mention, following the 2009 financial crisis, many of the countries and worlds largest banks were convicted in international courts for “committing fraud” by misleading their customers about the risks of the loans they were taking in regards to their homes and in their personal lives, directly leading to the financial collapse and mortgage crisis we now refer to as “The Great Recession.” Unfortunately though, nearly all of these banks happened to made tens of billions, trillions collectively, as a result of this same fraudulent practice.

If that doesn’t make you angry, then you might be more outraged to learn that some of the same banks later convicted of fraud were the same banks that the Obama Administration choose to bail out once market finally did collapse. Seriously, you really can’t make this sort of stuff up.

^^^ pretty much sums up my thoughts on the matter ^^^