Revised: US Should Cancel Federal Reserve Debt

2006 - 37 Costa Rica - Heridia - September - Mercado CentralREVISED:  SEE RELATED LINKS AT BOTTOM OF THIS ARTICLE.

One morning not so long ago President Obama announced a pay freeze for two million federal employees, warning Americans that this is the first of many difficult decisions to be made to slash the nation’s mounting deficits.

“The hard truth is that getting this deficit under control is going to require some broad sacrifice, and that sacrifice must be shared by the employees of the federal government,” Obama said.

Obama’s proclamation came as the Rothschild-led international bankster crowd – apparently immune from “broad sacrifice”- tried to squeeze similar concessions from the people of Ireland, Greece, Spain, Portugal, Italy.

In their never-ending quest to subjugate the planet, the bankers’ IMF enforcer – chronic harasser of Third World governments – had now turned its sites on the developed world.  To further advance their dizzying concentration of economic power, the Illuminati lizard kings now threatened to take a giant wrecking ball to the global middle class. They were preparing to eat their young.

No one can argue that the US deficit is not a problem. Much of it accrues to pay interest on the $14 trillion debt. Conservatives argue for slashing entire government departments. Liberals argue for higher taxes on the rich and Pentagon cuts. I agree with these latter proposals. The super-rich paid 90% under Eisenhower. And playing global cop for the London bankers undermines US national security. But at this point even these moves are band aids on a red-ink gushing wound. The belt-way dialogue on the deficit remains locked in a tiny intellectual box created by the corporate media and their Federal Reserve owners. But there is another way.

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.

If we keep thinking inside the banker-manufactured beltway box, our children have no future. They will live in a Third World country which produces nothing, lorded over by debt-collector parasites. The wealth-destroying Illuminati banker elite are the perpetrators of the US debt crime. Should a woman who is raped serve the sentence of her rapist? That’s absurd. Then why should Americans pay a fraudulent debt foisted upon them by con-men? It is time for Obama and Congress to get a backbone. And for the Illuminati bankster criminals to make the “broad sacrifices”.

Dean Henderson is the author of five books: Big Oil & Their Bankers in the Persian Gulf: Four Horsemen, Eight Families & Their Global Intelligence, Narcotics & Terror Network, The Grateful Unrich: Revolution in 50 Countries,Das Kartell der Federal Reserve, Stickin’ it to the Matrix & The Federal Reserve Cartel.  You can subscribe free to his weekly Left Hook column



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