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$13.3 Trillion in Debt: What It Means to Your Standard of Living

Current U.S. debt stands at $13,363,228, 000, 000. This number is often broken down on a per capita basis, currently $44,000.

I have always thought of the per capita number as somewhat misleading. I'm guessing that most people who don't have $44,000 in the bank, shrug and think, "Good luck with collecting that from me."

But the way the $13,363,228, 000, 000 should be looked at is debt that results in that much money not being available for private sector business to borrow. It boggles the mind to think what research could be conducted and products produced and created if that money was available for the business sector. In this fashion, the huge debt is impacting the person, right now, who doesn't have $44,000 in the bank, by the products that haven't been created because of the debt. One has to wonder how higher a standard of living a person would face, who doesn't have $44,000 in the bank, but who would live in a world where government borrowed so aggressively.

Further, every uptick in debt brings the U.S. closer to the point in time when new government debt won't be absorbed at current interest rate levels. At such time it is highly likely that the Federal Reserve will step in to buy Treasury securities, a very inflationary move. Thus, those without $44, 000 in the bank (along with most everyone else) will face prices rising much faster than their incomes.

http://www.economicpolicyjournal.com/2010/08/multi-trillion-...



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What Is Necessary to Stop Paying a Debt?

Nothing

  • Ain't nothing to it!
  • Nothing ain't worth nothing, but it's free!
  • Life is much richer when you know debt isn't!
  • JP Morgan, "The world doesn't owe you a living, it was here first."

How Can Nothing Hurt?

Innocent folk are gonna be hurt, by what was created out of thin air.

"It is true I have a passion for lying to rich people, but I do not lie to men who get their bread by thankless hard work."
- Letter to W. D. Howells, 10/28/1889

How Can Nothing Help?

Investigate Creation of Money and Loans. Upon completion of your study, you will likely be comforted by laughter, where there was none before.

"Laughter which cannot be suppressed is catching. Sooner or later it washes away our defenses, and undermines our dignity, and we join in it -- ashamed of our weakness, and embittered against the cause of its exposure, but no matter, we have to join in, there is no help for it."
- "Indiantown"

Learn About Debt What surprises me is there is so little to learn. If nothing else, learn avoidance of debt.

Learn and Act to Correct Our Ship of State
Nourish our Republic, Liberty and our Inalienable Rights

  • They are yours for keeps
  • Inalienable Rights are not given nor taken by Government
  • Constitutional Convention... Beware!
    • What slithers unnoticed under noble projects?
    • The road to Hell is paved with good intentions
  • Toss out, eliminate, nullify, or otherwise dispose
    • Unwind our folly
    • Expose our idiots
    • Eliminate false promise

"Almost all lies are acts, and speech has no part in them.
- "My First Lie and How I Got Out of It"

"There is a prejudice against the spoken lie, but none against any other, and by examination and mathematical computation I find that the proportion of the spoken lie to the other varieties is 1 to 22,894. Therefore the spoken lie is of no consequence, and it is not worth while to go around fussing about it and trying to make believe that it is an important matter. The silent colossal National Lie that is the support and confederate of all the tyrannies and shams and inequalities and unfairnesses that afflict the peoples - that is the one to throw bricks and sermons at."
- "My First Lie and How I Got Out of It"

Death Vally Days, 20 Mule Team... Borax Deep Cleaning Offer

How to clean? Deep clean?

Order 20 Mule Teams to pull full Borax Wagons to Washington DC. Send a supply of gold digging Hydraulic Water Cannons from the gold fields of Nevada City & Coloma.
http://www.dailypaul.com/node/143040#comment-1522199

As we clean, perhaps our gold may show itself. Happy prospecting,

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Nullified FED Debt

Well, the debt we owe should be paid back to Savings Bonds & Treasury Note holders as well as any foreign countries... But our so-called debt to the federal reserve should be nullified.

One issue

with the calculations using "per capita" is the ability of a child, for example, to pay the $44,000. A child obviously can't pay anything.

It is the dwindling working class who have to fund this "debt," pushing the $44,000 number to over $120,000 per U.S. taxpayer.

Data derived from:

http://usdebtclock.org

Author of Buy Gold and Silver Safely
Next book: Illusions of Wealth - due out soon
Also writing book We the Serfs!

We do not need a Con con to

We do not need a Con con to rid the Fed. there was never a concon to begin the Fed. End the Fed and we can end the Federal Income Tax.

There is no Left or Right -- there is only freedom or tyranny. Everything else is an illusion, an obfuscation to keep you confused and silent as the world burns around you." - Philip Brennan

"Invest only in things that you can stand in front of and pr

THIS is about getting rid of fraudulent debt.

It's not the same thing as ending the Fed. Ron Paul's plan to end the Fed requires the payment of existing government "debt" to the Fed, rather than just repudiating the fraudulent debt.

My view is that the debt is fraudulent and therefore should be repudiated.

I am not in favor of a con-con.

ultimatecynic

And then end the Global Fed....

Or we will go end it ourselves and seriously beat the living daylights out of Geithner & the globalists.

I can't even imagine how bad a Global Fed is.

14th Amendment, "The... Debt... Shall Not Be Questioned!"

What Debt?

BobbyW24,

I do appreciate your earnest support of Dr Ron Paul and his messages

  • Liberty Candidates
  • Sound money
  • Audit the Fed
  • End the Fed
  • Manage our affairs well
  • Limit or eliminate meddling in affairs of others
  • Laws must make sense, be read and deliberated
  • No undeclared military adventures
  • No mandated insurance

Please study before you post. Know what is debt:

  • That green paper & cotton paper debt?
  • That which Dr Ron Paul quips was "created out of thin air?"
  • Created on your good credit?
  • That which was created out of banker sin?
  • $13 Trillion in debt bankers crow about?
  • Debt that was purchased a printing cost (approximately 4 cents per green paper dollar US Treasury printing cost) and used to immediately buy US Treasury notes and loan to friends of the Fed?
  • Unaudited for 97 year?
  • That debt?

The Fed: Loaning legal tender mystically into existence; Loaning you blind, since 1913.

Perhaps bankers imagine debt can be paid by debt legal tender notes. If what I am writing makes no sense, you are correct and have identified one of the mysteries of banking.

Please study

  • "What is a bank note?" Debt?
  • "What is a Federal Reserve bank note?" National Debt?
  • "Who got the privilege to print legal tender?" 1913
  • "Why do governmental programs pile on debt?"
  • "Why do bankers say 'Stimulus' when they increase the National debt?
  • "If our GDP were only growing fast enough... could we pay off the National Debt?
  • Or does GDP include programs that create more debt than worth?
  • "Or is much of GDP not production, perhpas a shady excuse to pile on more debt?"

The US 14th Amendment is only a page or so. Have you read it? Especially the part about the National Debt?

US Constitutional 14th Amendment
Amendment XIV
http://topics.law.cornell.edu/constitution/amendmentxiv Source of this full text.

Section 1.

All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the state wherein they reside. No state shall make or enforce any law which shall abridge the privileges or immunities of citizens of the United States; nor shall any state deprive any person of life, liberty, or property, without due process of law; nor deny to any person within its jurisdiction the equal protection of the laws.

Section 2.

Representatives shall be apportioned among the several states according to their respective numbers, counting the whole number of persons in each state, excluding Indians not taxed. But when the right to vote at any election for the choice of electors for President and Vice President of the United States, Representatives in Congress, the executive and judicial officers of a state, or the members of the legislature thereof, is denied to any of the male inhabitants of such state, being twenty-one years of age, and citizens of the United States, or in any way abridged, except for participation in rebellion, or other crime, the basis of representation therein shall be reduced in the proportion which the number of such male citizens shall bear to the whole number of male citizens twenty-one years of age in such state.

Section 3.

No person shall be a Senator or Representative in Congress, or elector of President and Vice President, or hold any office, civil or military, under the United States, or under any state, who, having previously taken an oath, as a member of Congress, or as an officer of the United States, or as a member of any state legislature, or as an executive or judicial officer of any state, to support the Constitution of the United States, shall have engaged in insurrection or rebellion against the same, or given aid or comfort to the enemies thereof. But Congress may by a vote of two-thirds of each House, remove such disability.

Section 4.

The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any state shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.

Section 5.

The Congress shall have power to enforce, by appropriate legislation, the provisions of this article.

Seems you know much about liberty, thankfully. Catch up on your debt. Humbugs would have you post nonsense worse than mine. I am trying to help you. Much of what is taught about banking is simply and profoundly wrong. If you don't believe me, ask why most folks are deeply in debt? To whom? Where was all their debt created?

"I never let my schooling interfere with my education."

Sincerely,

[PS]Be one of the first in the world to read my original creation about the immaculate conception of the Fed Reserve, 1913.

'Twas the Bank Night Before Christmas Eve, 1913... Mark Twin
http://www.dailypaul.com/node/142857#comment-1520254

[PS]... Or be one of the last to read my Autobiography...
Mark Twain Autobiography Available 100 Years Late. Wrote This One Myself. Procrastinated.
http://www.dailypaul.com/node/135632

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

So default is not a constitutional option.

We have a clear conflict between moral and legal obligation. The moral imperative is to default on the fraudulent debt, but the 14th amendment seems to prevent that.

Is repeal of the 14th amendment the only option left to legally rid ourselves of the fraudulent, predatory, bankster-Fed-imposed debt that will bring utter ruin to our country? Repeal will never happen.

Is this the issue that will get principled conservative constitutionalists to agree to a constitutional convention? Out of the frying pan and into the fire...

ultimatecynic

What Do You Need to Stop Paying a Debt?

Nothing.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul