U.S. DEBT CEILING IS OLD PONZI SCAM – WHICH WILL COLLAPSE AND SCATTER THE SCAMMERS
Posted 02 August 2011, by Brenda Norrell, Censored News, /bsnorrell.blogspot.com
Source: Mohawk Nation News,
MNN. August 1, 2011. The European invaders to Onowaregeh/Great Turtle Island set up a huge criminal organization. Their bottom line is profit. They used the Ponzi scam to help themselves to our land and resources as if we didn’t exist.
Europeans oligarchs and bankers lent money to their friends and companies to exploit us. For the other invaders, a lifetime of servitude and interest payments was created to last forever.
The“debt ceiling” is the legal limit on how much money the banks can print and give to the government to pay its bills and investors.
The US has decided to sell more bonds to make payments to their investor buddies.
The citizens are obliged to pay higher taxes to pay off these loans, while government services and programs are cut.
40%of US $14 trillion spending comes from foreign governments, investors and bond holders. Interest is due on August 2nd. If the US can’t borrow, it can’t pay these loans.
The rich controllers of the politicians don’t pay taxes. Many put their money in non-taxable offshore accounts. President Obama is threatening to tax them. One Swiss bank has moved all its assets to avoid giving him any information.
A Ponzi-like investment swindle runs the US. Debts are created by printing money and selling bonds.
Investors are lured with wild promises of fast returns. More money is borrowed from new people. Early investors are paid from later ones to create the illusion of profit. No work, products or profits are created. It falls apart when it’s impossible to keep recruiting enough new people to keep it going.
Also, it collapses when the total investment is less than the total payments to all the investors. Some promoters vanish with the money. Politicians fill their pockets and then disappear after an election. Then new faces appear on the scene. The rich are leaving to avoid taxes and for greener pastures.
The scammers don’t pay out much. They post statements showing some confusing earnings. They try to keep investors from cashing out by offering new promises of higher returns. The few who withdraw are paid promptly to give the illusion that the fund is legitimate.
A bank run happens when there is a sharp decline in the economy.
Today the US borrows 40% of its spending from US private investors, EU, China, Japan, OPEC, Pension funds. Interest payments come first or US credit rating goes down.
China bought over $1 trillion interest bearing US bonds. If they cashed in, US credit would freeze, capital would be removed from the system, prices would increase, businesses would go bankrupt and jobs would be eliminated. The government passes the buck by borrowing, raising taxes, weakening the dollar and cutting back government services.
Private bankers and foreign investors control the US and could put it out of business. There are no plans to reduce the debt. It will be passed to the next president or taxpayers to pay off for generations to come.
Foreigners have long taken our resources without our consent or benefit to us. Indigenous everywhere are resisting. Now the US has to find other countries to undermine to pay its investors. The world market place is getting riskier. If the US can’t borrow, it can’t pay its loans. It will eventually default.
Could they be planning to clear out of here? The Ponzi scam is running out of suckers and could be collapsing. Creating worthless money backed by military might to steal other peoples’ resources is coming to an end.
MNN Mohawk Nation News Kahentinetha2@yahoo.com For more news, books, to donate to help pay legal fees and to sign up for MNN newsletters go to www.mohawknationnews.com More stories at MNN Category “ECONOMICS/TRADE/COMMERCE”. Address: Box 991, Kahnawake [Quebec, Canada] J0L 1B0