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
"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
1 comment:
The problem with this is that the Federal Reserve is not subservient to the federal government, but the federal government IS subservient to the Federal Reserve. The Federal Reserve is owned by the 12 International Banking families. To accomplish a debt removal, all Congress has to do is REPEAL the Federal Reserve Act of 1913.
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