Economic IQ test: If the national debt doesn't matter, then why are we still paying federal income taxes?Submitted by emalvini on Fri, 11/23/2012 - 10:43
Economic IQ test: If the national debt doesn't matter, then why are we still paying federal income taxes?
Friday, November 23, 2012
by Mike Adams, the Health Ranger
Editor of NaturalNews.com
(NaturalNews) The U.S. federal government is over $16.2 trillion in debt. But that doesn't really matter, we're told, because the Federal Reserve -- a private banking monopoly -- can create an unlimited quantity of dollars to keep buying up the U.S. debt. This is called "QE unlimited," meaning unlimited quantitative easing (money creation).
On top of that, U.S. Treasury Secretary Timothy Geithner recently suggested we simply eliminate the debt ceiling altogether and launch America into INFINITE debt.
This program of fiscal suicide is already under way. The Federal Reserve announced a few weeks ago that it would begin buying up to $80 billion a month in U.S. debt, continuing indefinitely.