According to below, total declared US debts is reaching more than 100 trillions $...
The total real interest rate is above 1'000 % ( sic, one thousand percent) because of the creation out of nothing and the revolving costs on so many years, since 1923 to the private FED, as private as federal express
Think well that those 700 billions will cost so much interest with all interests to pay to the private FED during years, on an amount created out of thin air but to be paid by the americans and the rest of the world in hard labour, taxes, depressions, suicides, drugs, ...
Graph to correct, interesting for the trends.
If we add together the unfunded liabilities from US Medicare and Social Security, it would reach in a few days to a global debt of more than $100 trillions, i.e. nearly a debt of US$1,3 million per US household. Enough is enough. The interest rate system for the benefit of a private company called the FED leads to impossible contracts, i.e. null and void. For the immorality of this situation, read carefully the prophetical encyclical "Vix pervenit" of Benedict XIV...
Making even minimum interest payments on these massive, soaring debts will be increasingly difficult for the majority of the people to the profit of the happy few owning the FED.
The only solution is the social credit, with his 3 legs;
1) a just money creation without any debts nor interest for the benefit of all, as J-F Kennedy already tried to do ( see http://pavie.ch/?lng=en )
2) just dividends to share the production of the computers, the machines and the coming robots.
3) and just prices by compensated discounts from the public just money creation to lower prices of all goods, and first the basic needs, i.e. food, houses, education, health, roads, ...
Use or improve this 2008 graph per family, more impressive, if we can add the last figures below, nearly 100 trillions, it will be excellent
Missing the corporations debts, coming too in the real estate crisis. When obligations of state and local governments are added, the total rises to $61.7 trillion, or $531,472 per household. That is more than four times what Americans owe in personal debt such as mortgages. If you add corp debts, we will ne near 100 trillions, to check the figures...Making even minimum interest payments on these massive, soaring debts will be increasingly difficult for the majority of the people to the profit of the happy few...ruling the new world disorder...
Oops! U.S. Debt Almost $100 Trillion
Posted In: Central Banks, Debt, Entitlements, Federal Reserve, Medicare, Social Security, U.S. Government
Back on July 22 I wrote a post about a San Francisco Chronicle article which stated the U.S. government is $53 trillion in debt (factoring in long-term liabilities), which translates to $455,000 per U.S. household.
Turns out, the situation might be worse. A lot worse. To the tune of $99.2 trillion, to be exact.
On August 7, a piece appeared on LewRockwell.com referencing a speech about the debt by Richard W. Fisher, the President and Chief Executive Officer of the Federal Reserve Bank of Dallas. Fisher told the Commonwealth Club of California in San Francisco back in May:
In the distance, I see a frightful storm brewing in the form of untethered government debt. I choose the words—"frightful storm"—deliberately to avoid hyperbole. Unless we take steps to deal with it, the long-term fiscal situation of the federal government will be unimaginably more devastating to our economic prosperity than the subprime debacle and the recent debauching of credit markets that we are now working so hard to correct.
How did the head of the Dallas Fed come up with a number like $99.2 trillion? First, he accounted for Social Security liabilities:
Now, fast forward 70 or so years and ask this question: What is the mathematical predicament of Social Security today? Answer: The amount of money the Social Security system would need today to cover all unfunded liabilities from now on—what fiscal economists call the "infinite horizon discounted value" of what has already been promised recipients but has nofunding mechanism currently in place—is $13.6 trillion, an amount slightly less than the annual gross domestic product of the United States.
Then, he worked out Medicare entitlements:
Please sit tight while I walk you through the math of Medicare. As you may know, the program comes in three parts: Medicare Part A, which covers hospital stays; Medicare B, which covers doctor visits; and Medicare D, the drug benefit that went into effect just 29 months ago. The infinite-horizon present discounted value of the unfunded liability for Medicare A is $34.4 trillion. The unfunded liability of Medicare B is an additional $34 trillion. The shortfall for Medicare D adds another $17.2 trillion. The total? If you wanted to cover the unfunded liability of all three programs today, you would be stuck with an $85.6 trillion bill. That is more than six times as large as the bill for Social Security. It is more than six times the annual output of the entire U.S. economy.
Fisher adds it all up, and, voila:
Add together the unfunded liabilities from Medicare and Social Security, and it comes to $99.2 trillion over the infinite horizon. Traditional Medicare composes about 69 percent, the new drug benefit roughly 17 percent and Social Security the remaining 14 percent.
And just to make his prediction a little bit more personal:
Let's say you and I and Bruce Ericson and every U.S. citizen who is alive today decided to fully address this unfunded liability through lump-sum payments from our own pocketbooks, so that all of us and all future generations could be secure in the knowledge that we and they would receive promised benefits in perpetuity. How much would we have to pay if we split the tab? Again, the math is painful. With a total population of 304 million, from infants to the elderly, the per-person payment to the federal treasury would come to $330,000. This comes to $1.3 million per family of four—over 25 times the average household's income.
Somehow, $455,000 per household seems a lot more manageable at this point…
"Storms on the Horizon: Remarks before the Commonwealth Club of California"
Richard W. Fisher
Federal Reserve Bank of Dallas, May 28, 2008
With the Irak, Afghanistan and ev. Iran and caucase costs, you can imagine event a worst situation...
Attached is Bud Conrad's chart showing debt held by sectors. The largest amount of debt is now held by consumers, mainly mortgages and second mortgages. The next largest amount of debt is held by the federal government, and the smallest is held by businesses. That is how I interpret the chart. I may be mistaken. If anyone interprets the chart differently, please let us know in a reply to this list.
Eighty years ago, before the Great Depression, businesses had the largest amount of debt, exceeding the amount held by the federal government. Government debt grew during the Depression and especially during WWII and during the Cold War and Vietnam. Eighty years ago, consumer debt was practically non-existent. Consumer debt for long-term mortgages, cars and appliances was mostly a post-WWII phenomenon.
So it appears that for the past few years the economy has been kept going primarily by the expansion of debt held by consumers.
Following the A + B theorem in Social Credit theory, the expansion of debt increases the rate of profit in respect to what it otherwise would be, because sales are thereby increased, but it reaches a limit where the amortization of the debt cannot be sustained from incomes that are falling in respect to the costs of production due to labor displacement.
The present crisis is greatly exacerbated by de-industrialization resulting from the foreign trade deficit, further reducing incomes.
In my opinion, therefore, we need both reasonable protectionism and the Dividend and Retail Discount.
Real figures kept secret:
Total declared debts of USA, plus to add secret and hidden figures, as most operations are out of the balance sheets.
Total declared hedge funds: 370 trillions according to french sources.
Total declared CDS: 60 trillions acc. french sources
Total secret swaps: ?
Total out of balance sheets: ?
Total Tax heavens: ?
Total Ferraye funds robbed from taxes, many countries: ??? several GNP.
Total of the 13 private owners of the FED ?
We have the proofs and the list of most people involved, buying judges, experts, public notaries, policemen, politicians...same people robbing now the whole world and concentrating all powers to New-York.
They killed many persons, including too many Kennedyes and Mac Faddens.
Beware, they steal your liberties and try to kill your souls.
I've read pretty recently about a Swiss man named Joseph Ferraye.
He claims that he invented the system used in Kuwait to extinguish the hundreds of oil wells that were burning after the first Gulf war. He has a patent on it.
He says that more than 30 billion dollars had been stolen from him (each extinction and blocking was billed at least 30 million $, multiply by 1160 ...) by a panel of french ministers of that time, with the complicity of a great number of people.
All paid by... the Iraqi people!!!
This looks like one of the biggest scandal of the 90's!
In english: http://www.swissjustice.net/command/indexh_en.html
unfortunately the huge full "dossier" of his trials is only in french and german for now.
It is there : http://www.googleswiss.com/fr/geneve/f/index.html
edit: BTW, all this looks like it's linked with alot of other stories, like Binladen's finances, Carlyle and so on... :ph43r:
An Interesting topic. Here's another article.
BTW, there's no mention about the Kuweiti part of the deal...which is probably where the biggest lies are hidden...
In Mr Ferraye's story, there's a impressive number of people found 'suicided' mysteriously, ususally the day before an important rendez-vous (like giving important papers to Ferraye... :ph43r: ).
That looks like serious mafia style, and Mr Pasqua is well known for some of his 'special' friends...
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