Bernanke's Warning: WE'RE HIT LIKE A SOUP SANDWICH!!!
Kurt Nimmo
Infowars.com
April 12, 2012
Earlier this week, Federal Reserve boss Ben Bernanke again warned that out of control borrowing and spending will eventually destroy the country.Said Ben to the the Budget Committee:
Sustained high rates of government borrowing would both drain funds away from private investment and increase our debt to foreigners, with adverse long-run effects on U.S. output, incomes, and standards of living. Moreover, diminishing investor confidence that deficits will be brought under control would ultimately lead to sharply rising interest rates on government debt and, potentially, to broader financial turmoil. In a vicious circle, high and rising interest rates would cause debt-service payments on the federal debt to grow even faster, resulting in further increases in the debt-to-GDP ratio and making fiscal adjustment all the more difficult.
But here is something Bernanke didn’t mention – a large chunk of that debt is owed to the Federal Reserve. In February, the corporate media fessed up to this undeniable fact. FromCNBC:
That’s right, the biggest single holder of U.S. government debt is inside the United States and includes the Federal Reserve system and other intragovernmental holdings. Of this number, The Fed’s system of banks owns approximately $1.65 trillion in U.S. Treasury securities (as of January 2012), while other U.S. intragovernmental holdings – which include large funds such as the Medicare Trust Fund and the Social Security Trust Fund - hold the rest.
The bankers that own the Federal Reserve love debt and that’s why they continually expand the money supply.
“Without the Fed’s relentless expansion of the money supply during both the Greenspan and Bernanke eras, the U.S. Treasury never would have been able to issue the staggering sums of debt that now threaten our economic well being,” Ron Paul told the House Committee on Financial Services Subcommittee on Domestic Monetary Policy last year. “This Treasury debt is the very lifeblood of deficit spending, permitting one Congress after another to spend far more than the Treasury collects in taxes. It is precisely this unholy alliance between the enabling Fed and a spendthrift Congress that I hope our witnesses will address today.”
Comment
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Comment by honeygirl on April 13, 2012 at 9:40pm
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Well said Less Prone !
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Comment by Less Prone on April 13, 2012 at 2:14pm
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One part of the equation is private banks lending government money that they create out of this air and requiring interest payments for money that the government could have created themselves in the first place. That is usury and it's a crime. Second part of the equation is economic interests of military industrial complex together with eugenic objectives of radical reduction of population and leaving only the fittest, read "the greediest cold blooded psychopaths", alive. That is legalised mass murder and piracy to loot natural resources to the high cabal. Third part of the equation is control and manipulation of the people by propaganda fed through education and mass media creating an illusion of fairness and progress, while the reality is the opposite. Those are the main components of the great money scam. Some people understand that money does not exist, only debt. Debt is a synonym of death. Only way to really solve this problem for the whole human kind is to reset all debt based on money that is created out of thin air, return the wealth amassed by usury to economy and disband the criminal institutions and organizations guilty of usury. That is a major overhaul, but if it's not done, the humanity in its beautiful forms will be destroyed. Hell follows.
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