A lot of thoughts running through my mind today………. After reading Charles Hugh Smith’s stratagem that reveals only those who are recipients of interest payments on debt are truly wealthy while everyone else is an interest-payer who contributes to the free lunch the financial classes enjoy.
Debt serfdom is what Charles Hugh Smith calls it. Only about 4% of Americans are recipients of most of the interest payments. Nine of ten Americans will predictably be shoved into serfdom and begging for breadcrumbs.
I always said, somebody is receiving that $400 billion of interest way pay on the federal government debt. What impetus is there to pay down that debt? The financial classes are living off of it + all the other private debt interest on credit cards, auto loans and home mortgages which amount to close to $3 trillion in payments.
Smith asks what backs the paper dollars the Federal Reserve issues but the nation’s productivity. In other words, the privately owned Federal Reserve bank is using your debts and assets as its collateral. So the central bank essentially owns the productive output of a free and democratic nation.
I also read Gary North today who says, in the battle between GUNS and GRANNY, that GRANNY is going to get hers and the military establishment will face relentless budget cuts as the voting block of the ageless BABY BOOMERS lives on into their 90s – that is the year 2040! Just take a gander at all the Hollywood celebrities who have lived into their tenth decade of life. [ListAl.com] You’re likely to live that long too!
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The collective efforts of the younger will be to support the older. Short of adoption of an…