It is a myth that most of that nearly $18 trillion debt is owed to China or the Persian Gulf oil sheiks. The vast majority- around $13 trillion- is owed to the Eight Families Federal Reserve crowd that just bought another $600 billion in Treasury bonds in what will be yet another failed attempt to stave off the massive deflation which their global race to the slave-wage bottom has created. Here’s what Obama and Congress should do.
(1 Introduce a Treasury Department-administered infrastructure investment fund, which workers should be strongly encouraged to opt into from their current 401K plans. This is important because the banker’s stock market casino will crash due to the next eight steps.
(2 De-link the dollar from all currency baskets and IMF special drawing rights. Ban trade in dollars on all global exchanges. Impose currency controls by fixing the dollar at 1:1 euro, Chinese yuan, Canadian dollar and Swiss franc; 100:1 Japanese yen. During the 1997 Asian financial crisis, Malaysian Prime Minister Matahir Mohammed fixed the nation’s currency- the ringit. It was the only currency in the region that did not crash when Rothschild front-man George Soros took aim at the region.
(3 Nationalize the Federal Reserve. Under the Federal Reserve Act there is a provision that allows for the US government to buy back the Fed for $4 billion. Pay this fee, revoke the Fed charter and launch a new US dollar issued by the Treasury Department. With the dollar fixed, the vampires cannot crash it.
(4 Cancel the $13 trillion debt imposed upon us by the Illuminati bankers. Debt obligations to foreign governments and small bond-holders should be honored at par.
(5 Prosecute to the fullest extent of the law all fraudulent transactions involving the financial parasites. Send the FBI to the New York Fed, seize all documents and arrest the perpetrators.
(6 Forget just repealing the Bush tax cuts on the rich. The top tax rate on people who make more than $1 million/ year should be raised to 75%. People making more than $500,000/year should pay 50%. All tax brackets below $125,000/year should see tax cuts. If you get more from government you need to pay for it. The rich get a whole lot more and they should pay for it, instead of billing it to the middle class.
(7 Slash Pentagon spending. Shut down all US bases in Europe, Japan and South Korea. Withdraw from Iraq and Afghanistan immediately.
(8 Outlaw off-shore banking by US citizens and corporations. Bring your money home and pay taxes on it or surrender your US passport/corporate charter. The dramatic increase in tax revenue would be enough to pay off the remaining debt to sovereign governments and small bond-holders, while keeping our obligations to the Social Security trust fund.
(9 Introduce single-payer health care and price controls on prescription drugs. The savings attained from eliminating insurance/pharmaceutical company Medicare/Medicaid/Social Security fraud will save the Treasury billions.
Using this methodology the US could wipe out both its deficit and its debt within a year. These measures should be introduced swiftly and in rapid succession. Social security and Medicare will be saved. The middle class will see their tax rates go down. Manufacturing jobs will come home, since the Chinese yuan will have seen a dramatic appreciation. Our national security will be enhanced.
You can read the rest @
https://hendersonlefthook.wordpress.com/2014/09/02/us-should-cancel-federal-reserve-debt/
Amen.
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