USA National Debt Tracker

[Canuckster]

What would be the proper way to abolish the private Federal Reserve?

Quickly, and without notice. That will also put an end to the private Federal Reserve note, a private bank note (fake money), the de facto world currency, deceptively called a "US dollar"'. That would immediately cancel the trillions that was owed in private fake money to the now abolished Fed. The remaining treasuries (debt) held by non-Fed entities can be redeemed (paid back) with non-gold backed, debt-free real US dollars, the new de facto world currency, issued by a new US public bank or the US Treasury acting as a public bank. The US govt will never again need to borrow privately owned fake money (sell treasuries/bonds in exchange for privately owned fake money).. They can generate interest revenue by lending real US dollars, the real de facto world currency, to foreign nations & make zero interests loans to US states, municipalities & private US citizens. They become the biggest bankers (masters) instead of the biggest borrowers (slaves).

 

[Vambram]

Quickly, and without notice. That will also put an end to the private Federal Reserve note, a private bank note (fake money), the de facto world currency, deceptively called a "US dollar"'. That would immediately cancel the trillions that was owed in private fake money to the now abolished Fed. The remaining treasuries (debt) held by non-Fed entities can be redeemed (paid back) with non-gold backed, debt-free real US dollars, the new de facto world currency, issued by a new US public bank or the US Treasury acting as a public bank. The US govt will never again need to borrow privately owned fake money (sell treasuries/bonds in exchange for privately owned fake money).. They can generate interest revenue by lending real US dollars, the real de facto world currency, to foreign nations & make zero interests loans to US states, municipalities & private US citizens. They become the biggest bankers (masters) instead of the biggest borrowers (slaves).

That sounds like those are great ideas. Why hasn't that been done? Who, or what, is preventing this from happening?

 

[RoBo1988]

National Debt Tracker: American taxpayers (you) are now on the hook for $36,215,685,263,667.36 as of 6/9/25

The U.S. national debt is climbing at a rapid pace, on track to double over the next three decades amid a rush of spending by President Biden and Congress.

www.foxbusiness.com

National Debt Tracker: American taxpayers (you) are now on the hook for $36,167,604,149,955.61 as of 12/19/24

The U.S. national debt is climbing at a rapid pace and has shown no signs of slowing down, despite the growing criticism of massive levels of government spending.

The national debt — which measures what the U.S. owes its creditors — fell to $36,167,604,149,955.61 as of December 19th, according to the latest numbers published by the Treasury Department. That is down about $21.7 billion from the figure reported the previous day.

By comparison, just four decades ago, the national debt hovered around $907 billion.

The outlook for the federal debt level is bleak, with economists increasingly sounding the alarm over the torrid pace of spending by Congress and the White House. Interest payments on the debt for the government's fiscal year, which begins in October, now exceed the costs of Medicare and the defense budget.

The latest findings from the Congressional Budget Office indicate that the national debt will grow to an astonishing $54 trillion in the next decade, the result of an aging population and fishing federal health care costs. Higher interest rates are also compounding the pain of higher debt.

Should that debt materialize, it could risk America's economic standing in the world.

"America’s fiscal outlook is more dangerous and daunting than ever, threatening our economy and the next generation," said Michael Peterson, the CEO of the Peter G. Peterson Foundation that advocates for reducing the federal deficit. "This is not the future any of us want, and it’s no way to run a great nation like ours."

https://finance.yahoo.com/news/why-us-borrowing-could-soon-090000762.html

 

[Canuckster]

That sounds like those are great ideas. Why hasn't that been done? Who, or what, is preventing this from happening?

Those are big questions but I'll try to answer using as little words as possible. The world, including the politicians, are in captivity. For thousands of years the world's nations were under natural hereditary rule. Almost 400 years ago, after the murder of Charles I, the money powers were allowed back into England by Lord Protectorate Oliver Cromwell, after centuries of banishment, for placing the king's subjects into debt, among other things. Since then the nations of the world have been gradually moved from open hereditary rule to hidden monetary rule (rule by debt). It's going to take a lot of prayer, and a strong courageous leader, maybe Trump, to break the spell. It's a spell because they hold the nations captive not through military might, as was the case for 1000s of years with hereditary rulers, but through monetary sorcery and control of information (enchantments).

Now a few presidents have tried to fight against this, Andrew Jackson was one, Lincoln with the Greenback, a non-gold backed currency he had issued to finance the Civil War, and the most recent was JFK who used E.O. 11110 to issue silver backed United States notes.

x.com

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Five months later he was murdered in broad daylight as a warning to future presidents as to what can happen when they try to free themselves from their captors. This is why when you said "I pray this doesn't happen." it caught my attention because we should all pray for Trump, because all before him were unsuccessful against what we call today, "The Deep State" or "The globalists".

 

[ViaCrucis]

Yes.

You should put a meaningful wealth tax in place.

There is no where else to get the money.

A progressive tax system wherein those with the most means contribute the greatest amount (some dishonest and ignorant people will call this communism, but this is literally what Adam Smith argued for in his foundational treatise on capitalism) is the best solution to addressing national debt. We could also cut military spending by billions, our military spending is beyond out of control; though I would prefer switching those funds to better purposes that serve the American people--education, infrastructure, housing the homeless, and social welfare.

But an out of control military spending, and refusing to have the wealthiest people contribute (because the US is a de-facto plutocratic oligarchy) means no real meaningful address to the national debt. Instead wealth disparity will continue to increase exponentially, the middle class will continue to disappear as millions of Americans are forced under the poverty line because corporate interests benefit only the the wealthy elite. The price of necessities will continue to go up as no meaningful regulatory action is done to address corporate greed. All the while many in the position of authority will, because they are in the pocket of the billionaires and corporate interest, continue to work against public interest, instead choosing to cut spending that helps the American people, all the while maintaining corporate welfare for the uber-rich. Couple this with lacking serious and meaningful addresses to our ongoing ecological and climatological crisis, who knows what things will look like in 50 to 100 years. But it's looking pretty bleak.

-CryptoLutheran

 

[Canuckster]

A progressive tax system wherein those with the most means contribute the greatest amount (some dishonest and ignorant people will call this communism, but this is literally what Adam Smith argued for in his foundational treatise on capitalism) is the best solution to addressing national debt.

Doesn’t matter whose idea it was, Marx or Smith, for a flat or progressive income tax; tax on labor is slavery. The best solution for America's debt I've already addressed.

 

[ViaCrucis]

Doesn’t matter whose idea it was, Marx or Smith, for a flat or progressive income tax; tax on labor is slavery. The best solution for America's debt I've already addressed.

How is tax on labor slavery?

Be specific, please.

-CryptoLutheran

 

[Canuckster]

How is tax on labor slavery?

Be specific, please.

-CryptoLutheran

Why is that hard to understand? If you work all day, and I force you to give me half your pay, you worked half the day for me. I let you keep the rest so you can look after getting your clothes, food and shelter so I don't have to. You're my slave. And because I'm the one who determines how much of your wage you can keep, I own it all.

 

[Pommer]

Why is that hard to understand? If you work all day, and I force you to give me half your pay, you worked half the day for me. I let you keep the rest so you can look after getting your clothes, food and shelter so I don't have to. You're my slave. And because I'm the one who determines how much of your wage you can keep, I own it all.

You’re a government?

 

[Say it aint so]

Why is that hard to understand? If you work all day, and I force you to give me half your pay, you worked half the day for me. I let you keep the rest so you can look after getting your clothes, food and shelter so I don't have to. You're my slave. And because I'm the one who determines how much of your wage you can keep, I own it all.

Wow. Just wow.

 

[Canuckster]

You’re a government?

really... do I got to explain this?

 

[Pommer]

really... do I got to explain this?

Are any/all taxes “theft”?

 

[Fantine]

As has been reported many times, the deficit decreased under Biden, and the 2017 tax cuts heavily geared towards millionaires and businesses had a much greater impact on our national debt.
I am sure many of you are homeowners with families. If you were suffering massive debts, would you stop working overtime? Take a lower paying job? Cut your hours? Of course not.
A family--or a nation--that lowers its revenue while dealing with massive debt is engaging in foolish, self-destructive behavior.

 

[Canuckster]

Are any/all taxes “theft”?

What do you think?

 

[Canuckster]

A family--or a nation--that lowers its revenue while dealing with massive debt is engaging in foolish, self-destructive behavior.

So is "a family--or a nation--" that uses private fake money "while dealing with massive [fake] debt...."

 

[ViaCrucis]

Why is that hard to understand? If you work all day, and I force you to give me half your pay, you worked half the day for me. I let you keep the rest so you can look after getting your clothes, food and shelter so I don't have to. You're my slave. And because I'm the one who determines how much of your wage you can keep, I own it all.

With all due respect, that's really dumb.

-CryptoLutheran

 

[ViaCrucis]

Wow. Just wow.

It's pretty bananas, right? I honestly thought I was going to get a better argument.

-CryptoLutheran

 

[ViaCrucis]

What do you think?

Most of us think no. Taxation is simply one of the components of what it means to live within a larger civilized society.

The issue of ethical taxation involves something more substantial than "I don't want to pay my taxes, but still benefit from living with other human beings."

Perhaps you believe we should eliminate everything from the public sector and everything should be privatized.

Personally I'm not interested in being a serf in a feudal society.

-CryptoLutheran

 

[Belk]

I pray that doesn't happen. Because if you're right, then the USA economy is going to have a severe crash of epic proportions.

It does not get better until we the people hold our elected leaders accountable. What we really need is a coalition of those of us on both sides of the fence who see the debt as a priority. We need to put aside our differences in other areas and hold our own side to reduction. Otherwise I see no real path to getting this fixed.

 

[Pommer]

What do you think?

Fare thee well.