The U.S. National debt, as of March 19, 2013, was approaching $17 trillion and increasing at the rate of $3.87 billion per day.
Who obligated the American people to the national debt? Was it the elected representatives of our states or was it done by executive order, by presidents, either Republican or Democrat, whose elections were largely manipulated and supported by those to whom the debt is owed? Many questions loom on the minds of the American people as more and more evidence is revealed in the wake of the 9/11 World Trade Center destruction and the 2008 financial meltdown.
What has created the U.S. national debt and the acceleration of it? To whom is the debt owed and for what? Is it accelerating because of a perceived need to bail out the banks and huge corporations that are backed by the printing presses of the Federal Reserve and who are intimately connected with the World Bank and the International Monetary Fund? Are these the very people to whom a large portion of the debt is owed?
“It appears that more than a fourth part of the stock (of the central bank) is held by foreigners and the residue is held by a few hundred of our own citizens, chiefly of the richest class.”
In December 2008, Ecuador’s President, Rafael Correa, who was educated in the United States and holds a doctorate in economics, declared the Ecuadorian national debt to be illegitimate and then deliberately defaulted on the payments. In this courageous move he publicly declared that the deal had been struck by former dictators who were paid off by the very individuals to whom the debt was owed. He then refused to renew a U.S. Military base lease and proceeded to file a $27 billion lawsuit against the oil company that had exploited his countries resources and polluted the pristine environment of the Amazon basin within its borders.
Thomas Jefferson warned us not to let the powers of government become concentrated in the executive branch, if we do, we will have tyranny. Is tyranny what we have now?
Is the time coming when the American people will follow the example of Ecuador and declare the national debt to be illegitimate as it clearly was not authorized by the people nor by their elected congressional representatives? Other countries are now taking a hard look at that option.
The problem is not capitalism, it is the abuse of capitalism. There are those, but a few corrupt individuals, sometimes referred to as “globalists” or the “corporatocracy” who have used national debt as a tool to exploit a great number of countries around the world, including Correa’s Ecuador, with the goal in mind to take control of the nation’s resources and their people. Wherever this brand of imperialism has been implemented it has plunged the people into poverty and lined the pockets of a few corrupt individuals who are focused only on their own power and fortunes, and who care little about the starvation and enslavement of others. The wealth of the nation and the world has flowed into the hands of a few “elite” individuals who now are making moves to use it to take over the world.
When will the American people be ready to take a firm and organized stand against such exploitation. I think it is coming and the trend toward such a stance is accelerating at about the same rate as the national debt. By the way, the U.S. national debt has increased by about $100 million since I began writing this commentary. If you are an American citizen, no matter your age, with or without a job, they would now have you believe that on March 19, 2013, you are individually obligated to pay to their paper economy an amount in excess of $53,000. Where will the money come from? It is impossible to pay such an enormous amount of money, or even the interest on the loan. Something different has to happen. Change is in the wind, and very soon.