Alan Grayson's Debt Jubilee Idea Would Destroy the Ponzi Scheme...A Good Thing

Subject: Alan Grayson's Debt Jubilee Idea Would Destroy the Ponzi Scheme...A Good Thing

Alan Grayson has written a letter to Ben Bernanke with a very obvious answer to this pressing problem of hitting the "debt ceiling". Simply have the Federal Reserve cancel all US Treasury Debt! It was actually Ron Paul's idea but Alan is reviving it here and now:

Ending the Debt Limit Crisis: Dear Ben Bernanke

http://blogs.reuters.com/great-debate/2013/10/09/ending-the-debt-limit-crisis-dear-ben-bernanke/

"But at heart, this is not a debt problem. It is an accounting problem. The Treasury Department issues U.S. debt, and lots of it. So you would think that America is deeply indebted to its bondholders. Yet increasingly, it is the U.S. monetary authority, the Federal Reserve, and not private investors, who buys this debt."

"So a simple solution to the impasse is as follows: Federal Reserve Chairman Ben Bernanke should simply cancel the Treasury debt that it owns. The government can just forgive the government's debt."

What a simple solution...but WHY STOP THERE?? The Fed also owns $1.3 Trillion of Mortgage Backed Securities which they have been buying from the big banks with all that QE spending.

WHY NOT CANCEL ALL THAT DEBT AS WELL?  

Let the People off the hook for once instead of just the Government and the Banksters. It would be a huge help for the economy as people would have money to spend and not have to keep paying their mortgages. They would own their homes free and clear creating a huge wealth effect!

While we're at it...how about doing the same with the mortgages held by those huge banks that the people were forced to bail out too?! They only survived because of OUR BAILOUT MONEY so why not?

Do you see where this is all going??

The root of this problem is that MONEY is no longer tangible. It is flawed. It can be created from thin air and erased just as easily!

IF the Fed cancels the US Treasury Debt the entire system would come under scrutiny and the Ponzi Scheme would fail rapidly.

So I say LET IT HAPPEN! The Fed should cancel all US Debt on their balance sheet and it will force a Global Debt Jubilee!!!

Come on Ben...I KNOW YOU WANT TO!

May the Road you choose be the Right Road.

Bix Weir

www.RoadtoRoota.com