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IPFS News Link • Government Debt & Financing



Kim explains that US spending and debt have spiraled out of control and the Government can only raise the money it needs by printing more of it, which means that hyperinflation is guaranteed.

He says this has been going on for decades and there's no way to fix it and that the US got away with this for so long, because US dollar is the world's reserve currency. When the US Government prints trillions, it is thereby robbing Americans and the entire world in what he calls the biggest theft in history.

He says the total US debt is at $90 trillion, which together with $169 trillion in US unfunded liabilities totals $259 trillion, which is $778,000 per US citizen or $2,067,000 per US Taxpayer.

Now, the value of all US assets combined: every piece of land, real estate, all savings, all companies, everything that all citizens, businesses, entities and the state own is worth $193 trillion.

Our total debt, $259 trillion minus our total net worth, $193 trillion equals negative $66 trillion of debt and liabilities after every asset in the US has been sold off.

1 Comments in Response to

Comment by PureTrust
Entered on:

People's understanding of this is backward. The debt is what the banks owe the people. The fact is that when people get a bank loan, they prepay it with the signed promissory note. If the promissory isn't signed, the bank won't give them the loan. When it is signed, it has value to the tune of the amount of the loan. The signed promissory is private money that the bank is permitted legally to accept in trade for public money. --- When the "borrower" repays the loan with interest over the years, he is really purchasing good credit, because he already paid the loan off through the promissory prepayment. The bank is required under UCC laws to make this money available to the borrower with interest earned, when he asks for it through filling out the proper form. --- Google "Tom Schauf, bank freedom." Tom was a bank CPA.

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