The ‘National Debt’ Is Smoke And Mirrors!
December 9, 2013 by Bob Livingston
What does the national debt really mean? Would you be shocked to know that we have in America the identical monetary system that Adolf Hitler had and that Russia had and has? We also have a propaganda machine that would have made Hitler blush.
Since U.S. “money” (and the whole world’s money) is bank credit and since bank credit is created by government and commercial banks, then the “national debt” represents bank credit passed or “lent” upon an unsuspecting public for their real assets and labor. Translated, modern money (bank credit) expropriates wealth. In truth then the huge reported “national debt” is how much wealth the government has stolen from the American people — not how much the government owes.
The “national debt” propaganda covers the fraud that our real assets and real wealth is flowing to the government in exchange for government created credit. Try to get it back!
Yes, indeed, this is witchcraft that reverses our thought processes. And, yes, the national debt is an asset to the government, not a liability. Real assets stolen with bank credit are assets to the government, not debt. Proof: When the local commercial bank “lends” you money (credit) that it creates with a bookkeeping entry, this transaction appears on the bank’s books as an asset (a deposit) to the bank and a liability (debt) to the borrower, who pledged real assets as collateral.
Yes, your debt is the bank’s asset. This same system works with the U.S. monetary system. Do you think that the government and the politicians want to keep this a secret? For some reason, the Federal Reserve spilled the beans in its publication Keeping Our Money Healthy, published by the Federal Reserve Bank of New York, in which it said: “(O)ur system works only with credit.” All we have to know then is who creates credit, and how is it used?
Fact: Wealth always flows to the creators of credit. Government and banks create money (credit) for one purpose, and that is to expropriate wealth. The expropriation of wealth is stealing with no payment intended.
Not only has the government stolen the national wealth and called it the national debt, it has the people believing that it still owes a national debt. In other words, after being robbed with credit, the “national debt” implies that we owe the amount stolen from us. An entity that creates credit out of nothing and “pays” it for real assets and production is not assuming a debt by any definition. It is stealing and calling the theft debt. The creation and control of all credit in the hands of a central bank (government) is the fifth plank of the Communist Manifesto. Look honestly at the American monetary system and you are looking tyranny and slavery in the face.
In a booklet titled The National Debt, published by the Philadelphia Federal Reserve Bank, we get this quote: “The Federal Reserve, in cooperation with the Federal Government, has the inherent power to create money (credit) — almost any amount of it. This power makes bankruptcy out of the question.”
What the crowd believes is wrong and always has been wrong. The crowd believes that there is a “national debt.” They believe this for good reason. There is a whole industry of deception in America that is promoting the national debt myth.
You have heard of vested interest. Well, this national debt propaganda is U.S. government vested interest. This is a mind-twisting myth covered by hard propaganda that nobody will even question. The reason that this is so is simply the existence of widespread ignorance of the nature of modern money (bank credit) and just how bank credit or government credit transfers real resources to the banks and the Federal government without payment of any kind. Can you guess why nobody wants you to understand that modern money is bank credit that is created out of nothing and “lent” or “paid” into circulation in exchange for real resources? This is why we say that modern money expropriates wealth.
Think now for a moment. The “reported” national debt has gone into the stratosphere — $17 trillion-plus and counting — with and since the massive creation of credit. The “national debt” drama did not blast off until all gold and silver as money were removed from circulation by government force. The Federal government, with credit money, has in this generation replaced hard currency and hard money with hard propaganda.
Under this mirage, they have stolen the wealth and production of the American people and impoverished them. They have stolen the national wealth, and there is only one big pool left to steal: the $20 billion in pension funds is in the form of bank credit — not real wealth, as unsuspecting Americans believe. Under pretense and charade from the politicians, there is a great threat hanging over this reservoir of credit in private hands. Everybody who has savings or a pension fund needs to understand that nobody owns and controls credit but the Federal government — an immoral Federal government. If you think that you own your “money,” you need to take a sober moment and try to understand our bank credit money system. Every “penny” that we have left is at risk.
The good news is that it can be reversed if we will stop believing government propaganda and its army of puppeteers about the “national debt.” The mystique about bank credit (money) fades once we look at the facts and revelations published by none other than the Federal Reserve Bank itself.
There is a small cadre of hard-core monetary realists in America who have discovered and uncovered the monolithic fraud and deception of theft with bank credit. But this deception is shrouded with all the force of the system, and there will be few people who will inquire. It is only our lives, our substance and our posterity at stake.
Every thought that we have, every financial decision that we make, every plan that we have for our future and our children’s future depends on our information, based on facts and reality, not “conventional wisdom.”
Moral decay, economic crises and all wars are created with bank credit. Needless to say, the hour is late, but not too late if only we are willing. The truth can be known.
Note from the Editor: As a reader you deserve to know the truth behind the economic disaster America faces. I’ve arranged for readers to get free copies of two books that reveal the sinister plot by the US Government to steal our wealth—a plot Merrill Jenkins, Sr. (the Original Monetary Realist) tried to expose at great risk. His books are hard to find, but these books include rare transcripts from his lectures. Click here for your free copies.