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11 Comments
- zekielkahn, on 12/30/2008, -0/+5Put forth an effort to learn about more than just the Annual Budget Reports of over 50,000 local, County, State, and Federal Accounting Departments. Learn about the hidden from view Comprehensive Annual Financial Reports (CAFR), from all of these agencies and you will begin to understand that it is all a big 'Shell Game', that no government agency is insolvent, nor are there any budget deficits anywhere in the country. In 2000, there were approximately only 16 or 17 Trillion Dollars reported in overall, Annual Budget Reporting, so far as you heard from the Mainstream Media, with budget deficits in most agencies, (local, county, state and federal), of whose aggregate balance sheets showed similar amounts on their expense ledgers. What is not visible, is the fact that the same agencies are required to disclose Comprehensive Annual Financial Reports, that tell a different story. The US reported a balanced budget, of about 8 or 9 Trillion, with a projected additional 6 Trillion up to 2004, over and above the annual projections of about 9 Trillion or so, per year.
What they did not tell you about, were the Comprehensive Annual Financial Reports, that were more like 17 Trillion or so, that allowed for 6% estimated increases in projected budget increases, called 'Base Line Budget Increases, of roughly 2 Trillion projected until 2004.
That totals about 11 Trillion, roughly, subtracted from the actual holdings in the CAFRs of 17 Trillion, totals about 6 Trillion.
Those CAFRs are sent to various public news sources, but those same news sources, like ABC, NBC, CBS etc. are owned by enough controlling shares of those same institutions, that they have a policy of Compliant non disclosure, to keep the actual assets hidden from the view of anyone who is not an 'insider'.
Have you ever wondered, how they arrive at their projections?
Do you wonder, how the US can give bailouts and unfunded mandates, of Trillions of Dollars to so many and remain solvent? The taxpayer could never in this lifetime fund such debt, with interest.
The fact is, that when your Congressman, Mayor, Governor or President tells you, we have a budget deficit and face bankruptcy, if we do not get relief or higher taxes, whatever, he or she is lying to you through their teeth. They know perfectly well, that the budgets do not reflect the assets shown on the CAFRs, that are mailed out to the Media Sources every year, but never release4d to the general public.
I would venture an estimate, that according to actual studies from 1980 to 1990 and from 1990 to 2000, of those aggregate CAFRs, that show more than double increases every 10 years or so, that the US owns well over 30 to 60 Trillion Dollars in CAFR Capital Producing Assets, that they are not telling you about.
In fact, those assets, are increasing daily, inspite of the spending. In fact, the more they spend, the more they grow, as those deficits the spend each year, are actually increases in overall holdings and assets, because they are Incorporated and share holders of the 'Shell Companies' like the FED and lending and Insurance finance, they lend to, but borrow from another, at interest, but have the taxpayer pay for. So, they profit, no matter what they spend. It is a shell game and is rigged like a Vegas slot machine, to show aggregate profit by the more money the system spends, the higher profits it yields. It is literally mathematically impossible for them to lose money.
Now they cannot allow Joe Public to ever have to much of that money or they would have out of control inflation as the economy heats up, so they need to divest a lot of that to overseas investors, as to broaden the demand base for the currency, keeping it just enough in demand to counter flooding the market with dollars, hence curbing inflation. But look at the track record... Hyperinflation will take place when there is no place on the earth left to saturate, with the money, which is what is occurring now.
The only way for them to keep the perceived value of US Dollars, high on the world stage is the final and desperate attempt that is taking place, to dump money into the US economy, and create a world shortage, of course that is doomed to failure.
That is why we are seeing low gas prices and low gold prices, that are being artificially held down, to give an impression of a strong dollar.
All inventions of man that are based on fraud and contrary to the Universal Laws of Physics, (In this case, Supply and Demand), are doomed to failure, in the end. What goes up, must come down. - anarcurt, on 12/30/2008, -2/+7Well written article. However, I believe this nation is too far gone to save. There will be a massive push for decentralization as the Federal government becomes more and more unsustainable. The states are broke and the wealthier states on the coasts will eventually demand to keep a higher portion of their wealth at home. As the dollar destabilizes an alternative currency or currencies will be needed, probably gold and/or silver.
More localized economies will develop as states try to revitalize long dead industry. Either you need to be prepared to fight and defend or to flee, though with each day I see less left to defend. - anarcurt, on 12/30/2008, -0/+3Faith cannot produce wealth. We used to get out of our recessions and depressions through our industrial might, but today there are too few industries left to pull us through. In the last 25 years we have used monetary and fiscal manipulation to pull us out of these tough times, but leaving ever larger bubbles in various areas of the economy.
The only things propping up our economy over the last 10 years have been consumer spending (which is dying without the ability to add on more debt), financial services (imploded), housing (bubble burst), and government spending (government debt is at its highest level of GDP ever). The first three pillars have collapsed. Government spending can only pick up the slack through insanely high taxes or printing new money and setting off the inflation time bomb.
While faith is nice and cozy it isn't a solution. If you have a solution I'd be glad to listen. - inactive, on 12/30/2008, -2/+4I say keep the FED. Then people such as yourself will be begging in the streets when the system collapses.
- StingingNettle, on 12/30/2008, -1/+3There sure is a hell of a lot more than there use to be.
- jeffiek, on 12/30/2008, -2/+4Too late.
- CoolHandLuke70, on 01/23/2009, -0/+1Nolibs bitches obviously.
- NoLibertarians, on 12/30/2008, -3/+2I agree, but still virtually none
- NoLibertarians, on 12/30/2008, -4/+2Nope, I'm loaded because I don't let anyone or anything like the silly FED get in my way...Some people achieve, others bitch on Digg
- NoLibertarians, on 12/30/2008, -4/+2You have too little faith in America..We will work things out as we always do in this great nation...This too will pass, we have had recessions worse than this..They were of a different nature and that is why some idiots are freaking out over this one..
- NoLibertarians, on 12/30/2008, -11/+2There is virtually no support for ending the FED in this country, as shown by the pathetic turnout at the rallies
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