Heh, Pols and Bloggers Letting The Secret Out Of The Bag!!

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Well, I’ve resisted writing about this for too long, and now I see people are waking up to a reality ……. sort of.

Dirk brings this to our attention.

Congress To Eliminate The Debt By Not Counting It Anymore…

In what seems a lifetime ago, I had articulated this thought many times, usually to the disbelief or lack of understanding by the people I was speaking to. 

You know the old rule of thumb about laws–

The more high-sounding the legislation, the more destructive its consequences.

Case in point, HR 3293– the recently introduced Debt Limit Reform Act. Sounds great, right? After all, reforming the debt seems like a terrific idea.

Except that’s not what the bill really does. They’re not reforming anything. HR 3293′s real purpose is to authorize the government to simply stop counting a massive portion of the US national debt.

You see, one of the biggest chunks of the debt is money owed to ‘intragovernmental agencies’.

For example, Medicare and Social Security hold their massive trust funds in US Treasuries. This is the money that’s owed to retirees.

In fact, nearly $5 trillion of the $17 trillion debt (almost 30%) is owed to intragovernmental agencies like Social Security and Medicare.

So now they basically want to stop counting this debt. Poof. Overnight, they’ll make $5 trillion disappear from the debt.

Yes, this is true.  Much of our debt is debt to ourselves.  There is many schools of thought on this.  Many, such as Tyler Durden, recoil at such a thought.  It isn’t unreasonable.  But, it isn’t necessarily rational, either.  Let me explain.

Yes, back in 1935, and in the 50s, 60s, 70s, and up to the present, promises were and are made regarding our money in these government programs, which the money is suppose to be kept separate from the other monies of the federal government. 

But, that’s “suppose” to be.  It isn’t reality.  The fact is our politicians have had their grubby hands in our till for decades.  And, as noted, about Medicare, they invent more tills to rob from. 

Let me also say this.  This notion of simply not counting the debt isn’t a matter of if, or could, or should, it is a matter of when.  Estimates vary about when these programs will become or begin to be insolvent.  They’re insolvent already.  Our pols have robbed us blind.  Does anyone harbor the thought that this money will ever be paid back?  Of course, it will not be.  There isn’t even a plan to do so, not that we could take our government at their word, even if there was such a plan.  They’ve demonstrated this for generations. 

This should be a lesson for all people who tout some Repub plans to set up government run trust funds.  There’s no such thing in reality.  In reality, these are just inventions in which our government can use to play money and balance games while robbing the people.  It gives them cover and concealment for what they’re really doing to the people. 

Social security and Medicare, at some point will be entirely absorbed by the federal government.  We just as well do it now and remove a few of the tills in which our politicians play their silly shell games with.  It’s a false premise to believe this is our money.  It is collected by our government and administered by our government, and dispersed by our government.  The money is freely taken and given by our government.  In what sane world could we possibly describe this as “ours”, but, that the government is just keeping for us? 

Remove the lie.  Give these lunatics less room to operate their machinations and thievery.  And, save a few $billion on pretend interest payments to ourselves, which we’ll never see.  Expose the fraud and the fraudsters, and make everyone, politicians, cleptocrats, and the American people deal with the reality of what is and isn’t. 

Yes, by law, by promise, by  …….  whatever.  But, that’s not the reality.  The reality is that most of the American people are allowing our pols to lie to us.  Yes, get mad, be outraged, but, do it by addressing reality and no some fictional world our politicians and cleptocrats have created.  What they’re doing is creating a double indebtedness to the people.  They’re robbing you from one pocket to pay for their largess, with absolutely no intention of ever paying you back.  Their intent is to rob future generations until there is simply no more to rob.  The longer these things remain a quasi governmental program the more harm to the American people’s finances they will do. 

And, while we’re letting not so secret secrets out of the bag, there’s another huge lie which eventually, but, not now, will come to an end.  Our Federal reserve.  Make no mistake, while private entities may make some claim to it, it is ours.  We’re paying them in order to pay them.  They’re buying up our bonds to create this faux economy.  Let them.  If they’re stupid enough to believe the word of our federal government, just like the people were with Social Security, then the end result is on them.  It isn’t that I believe we have any moral obligation to these people who would be our masters.  We don’t.  This was another shell game invented by our politicians and cleptocrats, made wholly for the purposes of wealth extraction from the people.  So, Fed, you just keep buying that US debt.  We make good on our IOUs, just ask the people who is having their trust funds robbed blind right now.  If we’re not going to honor our debt to the people’s trusts, and we’re not, then we’re certainly not going to honor this to a bunch of dumbass bankers who seek to own the US. 

All of this is a couple decades away, but, be sure that these days are coming.  I pray that at that time, people will understand that the wealth being confiscated is ours to begin with, and reclaiming our property stolen from us by these despicable people, who would seek to rule us by the wealth they’ve stolen, is a moral and just undertaking, and worthy of pursuit. 

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14 Responses to Heh, Pols and Bloggers Letting The Secret Out Of The Bag!!

  1. Latitude says:

    Good post!

  2. Jim Masterson says:

    >>
    . . . reclaiming our property stolen from us by these despicable people, who would seek to rule us by the wealth they’ve stolen, is a moral and just undertaking, and worthy of pursuit.
    <<

    Good luck with that. By the time the people become aware and want to act, we’ll all be disarmed by the anti-gun nuts.

    Jim

    • suyts says:

      It’s a race against time. Currently, the gun grabbing advocacy has taken a huge drop in the polls. Bur, this can occur without armed insurrection.

      Oddly, I’m heartened by recent events which show many Americans are so lowly informed. They’re shocked and outraged that their insurance rates are going up and that millions are being dropped. It occurs to me that this people are also as ignorant about how our government robs us. And, that maybe the reaction will be similar except more once all this comes to light.

  3. DirkH says:

    “Yes, this is true. Much of our debt is debt to ourselves. ”

    You can lump the debt owed to the Fed into that category as well.

  4. philjourdan says:

    Might as well – and you know he will. That way he can say he REDUCED the debt. He also destroyed the last vestiges of any kind of lock box for SS, but that was just a smoke screen in any case.

  5. Jason Calley says:

    Wow! Great post, right in the bull’s eye! The only thing I would perhaps wonder about is “All of this is a couple decades away, but, be sure that these days are coming. ” Couple of decades? I have to admit that they have kept the plates spinning waaaaay longer than I could have… but honestly, I hope the game does not last decades more.

    • suyts says:

      I thought it would end much sooner, as well, but, I underestimated the perpetuating power of global QE. I had wished for the trouble to come in a time when many of us could do something about it. Now, I fear this task will fall to our children. God help them.

  6. Jim Masterson says:

    >>
    For example, Medicare and Social Security hold their massive trust funds in US Treasuries. This is the money that’s owed to retirees.
    <<

    Johnson stole what was left in the SS trust fund to pay for his great society and the Vietnam War. When Gore was traipsing around the stage, invading Bush’s personal space (and ours), and acting the complete fool that he is, he firmly stated that he would maintain the SS lock box. Lock Box? What lock box? You mean the lock box that contains IOUs from the treasury. There is no money in the SS trust fund. Locking the lock box is like closing the barn door after the horses have left. This is all nonsense. People should go to jail. Fraud is fraud. theft is theft.

    Jim

  7. Bruce says:

    In Argentina Kirchner stole nationalised all the private pension accounts (ie like 401k’s). When those people retire and wish to draw upon their savings they may be in trouble.

    In Detroit the perfectly safe pensions may get 19c in the dollar. But since Detroit will almost certainly go bankrupt again after it comes out of bankruptcy, I doubt the pensioners will keep that 19c for long.

    If they are going to raid SS and Medicare trust funds (sorry: not ‘raid’ but ‘aggregate them into general accounts’) how long before Obama steals borrows everyones’ 401k?

    Our ex Prime Minister Paul Keating, who was a lefty, once said ‘never stand between a Premier and a bucket of money’. That goes for Dems too.

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