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Can The U.S. Go Bankrupt?

By bob LivingstonBankrupycy
When an individual goes bankrupt, he has spent more than his income. His debts and the interest on those debts exceed all the income he has to such a degree that they are beyond his ability to repay.
Most people believe that national governments go bankrupt because they spend too much or spend more than their income. This is what colleges and universities teach and propaganda media parrot. Furthermore, when governments “overspend,” they call it “deficit spending.” But there is no such thing as national bankruptcy as the word “bankruptcy” implies or as it applies to the individual.
There are certain key words and phrases cleverly put into use to conceal the source of government finance: Federal budget, government spending, government deficit and Federal income tax. Believe it or not, none of these terms relates to government finance. But they do cover government fraud on an unbelievable scale.
The terms Federal budget, government spending and government deficit are meaningless when the Federal government and the central bank (Federal Reserve) create money in the form of paper and numbers called credit, in unlimited amounts. The government does not want public knowledge of its monetary trickery. This is why universities teach “accounting” and “finance.”
A simple axiom: To go broke or bankrupt in the national government sense implies that there is a finite or limited supply of money available to national governments. But money does not exist, and no one has ever proven that it does. People think that paper “dollars” are money. In truth, no one has ever seen a dollar. A dollar is not a thing. It is a unit of measurement the same as the terms quart or ton.
Don’t believe me? Will you believe the Federal Reserve’s own publications from the 1970s?
“Today, most coin and currency is ‘fiat’ money — money by virtue of government declaration and public acceptance. Fiat money isn’t valuable in itself and doesn’t represent a claim on gold or silver. Fiat money is acceptable because people know money’s true value is its purchasing power — its ability to buy goods and services.” — The Story Of Money, p. 19, Federal Reserve Bank of New York.
“Coin and currency are ‘Legal Tender,’ money the Government says has to be accepted if offered to settle a debt. But that approval doesn’t make cash any more ‘real’ than checkbook balances.” — I Bet You Thought… p. 7, Federal Reserve Bank of New York
“Neither paper currency nor deposits have value as commodities. Intrinsically, a dollar bill is just a piece of paper. Deposits are merely book entries. Coins do have some intrinsic value as metal, but far less than their face amount… What, then, makes these instruments — checks, paper money, and coins — acceptable at face value in payment of all debts and for other monetary uses? Mainly, it is the confidence people have that they will be able to exchange such money for real goods and services whenever they choose to do so.” — Modern Money Mechanics, p. 3, Federal Reserve Bank of Chicago
“Currency backing isn’t relevant in today’s economy. Currency cannot be ‘redeemed,’ or exchanged, for Treasury gold or any other asset used as backing. The question of just what assets ‘back’ Federal Reserve notes has little but bookkeeping significance.” – I Bet You Thought…, p. 11, Federal Reserve Bank of New York
“Commercial banks are important financial institutions because they can create money — checkbook money. When we borrow $200 at a local bank to buy a washing machine, we sign an I.O.U. and the banker writes a slip for a $200 addition to our checking account. No one has any less money on deposit, but we have more. The banker has bought our I.O.U. with new demand deposits -­ checkbook money -­ which were created. Bank credit and checkbook money have both increased $200.” — Money and Economic Balance, p. 177, Federal Reserve of New York
The method of money creation is witchcraft. It has been witchcraft for thousands of years. Modern economists and sophisticated eggheads only imagine that they understand money.
Yet nothing that affects our lives could be so all-important. Money is not a dull subject, because the study of money is a study of tyranny. It makes a mockery out of human freedom, property ownership and the accumulation of wealth.
Once we understand money, we then know that any imagined personal freedom that we have is a license or privilege given by the government which can be taken away by the government. The purpose of money is to transfer wealth from the producers to the nonproducer money creators.
John Maynard Keynes revealed a lot in his book, Consequences of the Peace, published in 1919. He stated, “If governments should refrain from regulation (taxation), the worthlessness of the money becomes apparent and the fraud upon the people can be concealed no longer.”
Keynes said in this statement that the system of income tax covers the fraud of the government printing press. What does this mean? It means that the government and its partner the Federal Reserve is printing money (creating credit) out of nothing and paying it into circulation for whatever the government wants, whether it be a fleet of ships or an army or to keep the people fat and happy. To cover the fraud of massive confiscation of wealth with printing press money, we have an income tax system.
The income tax system has a very serious purpose, but contrary to what Americans think the income tax has absolutely nothing to do with funding the government. The income tax is a consumption tax. The income tax regulates consumption. Note Keynes’ word “regulation” above. The income tax system penalizes those who are successful. It is a social and economic leveling system.
The income tax also is used to take as much “money” out of circulation as possible. The more “money” taken out through the income tax, the more the money creators can create. The less “money” there is, the better it keeps its imagined value.
“Too much money results in excess spending. When consumers, businesses and governments spend excessively, they compete for the available supply of goods and services and force prices up. When prices rise, the purchasing power of money falls. To keep purchasing power strong, then, the supply of money must not increase too rapidly.” — I Bet You Thought…, p. 111, Federal Reserve Bank of New York
The Federal government funds itself with “printing press money.” The income tax does not fund the Federal government. Almost nobody knows this, but it is extremely important to understand. The power to create money is the source of government force and bureaucratic tyranny in our lives.
What does all this mean to us? It means that we live under an authoritarian system and we are at its mercy. The Federal government has monopoly power to create money (credit or debt) backed by force. And it disguises this system from the people with the income tax system explained above. Simply stated, corporate government is transferring unbelievable and unimaginable wealth to itself with “money” that it creates and which costs nothing. Does this not make “organized crime” look like Sunday school?
This is how and why world wars are financed that cost millions of young lives. This is how social and economic policy is forged into so-called public policy, a euphemism for government social engineering and government force.
“Public policy” is government force in our lives based on monopoly power to create “money.”
So can governments experience economic collapse? Yes, but no one is aware of how it comes about. That’s because it is not a bankruptcy as is generally understood.
Here’s how it happens: The process of government “money” creation is a concealed scheme of consuming (stealing) the national wealth. In effect, the government creates its own wealth — not from taxes, but by creating “money” and using it to fund the government and to transfer wealth from the people to itself. The simple equation is that when governments consume all the national wealth of the people, then the government collapses.
Governments produce nothing, so governments must live off of the producers. It is the nature of governments to grow bigger and bigger and consume more and more of the national wealth. Do you see this happening?
At some point, government overconsumes the national wealth and collapses. Government finally consumes more than the people can produce.
So then, modern bankruptcy of national governments is not overspending. It is overconsumption of the national wealth.

Michelle Obama Denounces Money in Politics; Asks Donors for a “Big, Fat Check”

by Phillip HodgesQueen
When liberals bemoan money in politics, they don’t actually mean all money. Just the money that goes to support the other team. They’re perfectly fine with taking large donations for themselves from rich liberals and organizations. In fact, they depend on it.

That’s just the reality of politics today. No one’s holding public office these days out of a sense of altruism and love for country. Save for maybe a handful of politicians, no one cares about this country. They care about themselves. They care about getting rich and achieving power. Of course, they do that by telling everyone how much they love their country and how they only want to make it a better place. They have to lie and make empty promises to win people’s support. If politicians were honest about their true intentions, no one would vote for them.

So, in today’s political arena, if money and politics were actually divorced from one another, it would defeat the whole purpose of politics.

Ironically, one of the ways the Democrats rake in the dough is by denouncing money in politics. Here’s the Washington Times:

First lady Michelle Obama on Thursday night urged Democrats to “dig deep” into their pockets and “write a big fat check” before the midterm elections, but minutes later complained of too much money in politics.

Speaking at a party fundraiser in Chicago, Mrs. Obama said Democrats must triumph in the November contests if President Obama is to make progress on his agenda during the final two years of his term.

She also blasted special interest groups that funnel money to Republicans.

“So, yeah, there’s too much money in politics. There’s special interests that have too much influence. But they had all that money and all that influence back in 2008 and 2012 and we still won those elections,” she said.

Mrs. Obama then urged fellow Democrats to add even more money to the political system.

“There is something you can do right now today to make a difference, and that is to write a big, fat check. I kid you not,” she said. “I’m going to be honest with you. That’s what we need you to do right now. We need you to write the biggest, fattest check that you can possibly write.”

Again, they’re perfectly fine with lots of money in politics as long as that money is coming to them.

Read more at http://lastresistance.com/6656/michelle-obama-denounces-money-politics-asks-donors-big-fat-check/#5FTOuw6SMY1EykA2.99

Reindeer Herders in Siberia Reportedly Find Second Huge Mystery Crater

crater-yamal-aerial-view-e1405945126917
Earthsky

According to unconfirmed reports, the second hole is about 30 kilometers (20 miles) away from a first large hole in Russian permafrost, reported earlier this month.

The Moscow Times reported this week that reindeer herders in far northern Russia have found a second mysterious giant hole. According to these unconfirmed reports, the second hole is about 30 kilometers (20 miles) away from a first large and mysterious hole in the Russian permafrost, which made a big splash in social media after the Siberian Times reported it in mid-July 2014.

Last week, Russian scientists estimated the first hole, which has smooth sides and a lake at its bottom, to be around 30-60 meters wide (100-200 feet) wide. The second crater is said to be smaller than the first, only about 15 meters (50 feet) wide, and it’s reported to be filled with snow.

Both craters (assuming two exist) are located within the permafrost of the Yamalo-Nenets Autonomous Area (YNAO) of the Russian Arctic. Moscow Times said that both craters appear to have formed relatively recently.

In fact, according to the website Russia Behind the Headlines, the time of formation of the second crater might be known, from reports last year by reindeer herders. This website said the second crater might have formed in September 2013. Russia Behind the Headlines said:

News of the crater was first spread by local reindeer herders, who said a celestial body had fallen and then a flash had occurred on 27 September 2013 in this region (56 miles from the village of Antipayut).

A different reindeer herder only said that he saw smoke, haze, and then a flash.

Both Moscow Times and Russia Behind the Headlines seem to be favoring the idea that the mysterious holes in permafrost formed due to a geophysical process associated with global warming. Russia Behind the Headlines said:

The strange holes in the Earth found in the northern tundra on Russian territory in July could mean the beginning of irreversible changes in the climate of our planet. According to Russian scientists, the most likely reason for the formation of such holes is the emission of natural gas, which may be caused by global warming …

Glaciologists from the sub-Arctic research and study unit in Tyumen say that permafrost temperatures are rising steadily in the region of the Bovanenkovskoye gas field on the Yamal Peninsula in the Russian Arctic, near where the first hole was discovered. Forty years ago it was on average about eight degrees below zero, but now in certain areas it is only minus three.

Moscow Times said:

Scientists who examined the first hole theorized that it could have been created when a mixture of water, salt and gas exploded underground …

The area, which has one of Russia’s richest deposits of natural gas, was covered by sea about 10,000 years ago, and vast salt deposits were left behind.

Moscow Times added that:

Global warming, causing an alarming melt in the ice under the soil, released gas causing an effect like the popping of a champagne cork.

yamal-crater-location-google-map-e1406323171858
Approximate location of two reported large holes in the permafrost in the Yamalo-Nenets Autonomous Area (YNAO) in the Russian Arctic.

Bottom line: A second mysterious crater has been found on the Yamal region of northern Russia, according to media reports.

Trey Gowdy’s Dream ➡ “RIP” John Boehner & Lindsey Graham

trey Capture

Texas Sheriffs Speak Out On Damage From Illegal Immigration

The influx of illegal immigrants into southern Texas is depleting law enforcement resources and causing heavy amounts of damage in the area, said several sheriffs gathered for the annual Sheriff’s Association of Texas convention.

“The damage is constant,” Brooks County chief deputy Benny Martinez told News 4 San Antonio at the conference, held in San Antonio on Monday and Tuesday.

Martinez estimated that 85 percent of cases he handles are related to immigration issues and that his rural county is not equipped to handle the workload. (RELATED: Border Meltdown: Obama Delivering 290,000 Illegals To U.S. Homes)

According to News 4, ranches just north of the border are facing ripped fences, broken water pipes and a spate of stolen, wrecked and abandoned vehicles.

“When you have to focus on the rush of undocumented immigrants coming through your county, what does that do to your staffing? Of course it kinda takes some of our staffing from being out on patrol,” Karnes County sheriff Dwayne Villaneuva told Time Warner News.

Reports of the heavy influx of illegal immigrants have so far mostly focused on the humanitarian aspect of the issue, ignoring the physical and financial impact on southern Texas counties.

The Obama administration estimates that 90,000 unaccompanied children, mostly from Central America, will be apprehended in fiscal year 2014. And another 39,000 mothers with children had been apprehended as of last month. (RELATED: Obama Officials Refuse To Provide Data About Flood of Illegals)

Because Texas is the nearest entry point for Central Americans, the state is experiencing the brunt of the unprecedented surge. Many of the women and children merely turn themselves over to the care of U.S. Customs and Border Protection agents charged with watching the border.

But as the Washington Post reported last month, dealing with that surge can provide ample opportunity for drug smugglers and other adult illegal immigrants to sneak into the U.S.

To handle that, Texas Attorney General Greg Abbott asked the U.S. Department of Homeland Security for $30 million last month because of “grave concerns that dangerous cartel activity, including narcotics smuggling and human trafficking, will go unchecked because Border Patrol resources are stretched too thin.”

At the Sheriff’s Association convention, sheriffs in more northern counties said they are worried about that aspect of the influx as well.

“The concern that I have as the Bexar County Sheriff is what comes across the border – if it’s not stopped at the border, it comes to San Antonio,” Sheriff Susan Pamerleau told News 4.

Gov. Rick Perry has attempted to deal with criminals at the border by calling on 1,000 National Guard troops. (RELATED: Texas Gov. Rick Perry To Send 1,000 Troops To Border)

But some sheriffs have said that the move will be ineffective in their counties.

“My county’s all private property,” Sheriff Tom Schmerber said. “The only way National Guard can go in to those properties would be with permission from landowners.”

Martinez, the Brooks County chief deputy sheriff, told Time Warner News that he has yet to see progress from any of the proposals asking for more money and more manpower. (RELATED: Obama Blames The GOP For The Border Breakdown)

“But what I would consider [progress] is, those fences being rebuilt and staying up for longer than a week.”

Read more: http://dailycaller.com/2014/07/29/texas-sheriffs-speak-out-on-damage-from-illegal-immigration/#ixzz391ksh1w9

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