Those pesky debt ceilings are just never high enough. Not $10 trillion, nor $14 trillion or even $18 trillion. The problem with debt ceilings is that, in a nation of runaway, criminally insane debt multiplication, debt ceilings keep getting in the way of what the globalist banksters really want: INFINITE debt!
Those are the words of U.S. Treasury Secretary Timothy Geithner who said on Bloomberg TV, “We ought to just eliminate the debt ceiling.”
Infinite debt equals infinite spending.
Infinite debt also equals infinite enslavement, and that’s the point of it all. Every dollar created by the Fed and loaned to the U.S. Treasury is another dollar for which American taxpayers are placed in hock to the global banksters.
Infinite government growth
Infinite spending is also infinite power over the economy. A government that has no limits on spending has no limits on its growth. It also has no moral restraint over the scope of the domain it claims to control. Need another 200,000 TSA agents to run crotch-o-rama checkpoints on the streets of America? No problem: There’s no debt limit, so just invent the money out of thin air and spend away!
Need to give out more free goodies to dumbed-down voters who only elect whichever candidate promises the most handouts? That’s easy, too: Just create more money out of thin air, rack up a few trillion dollars in additional debt, and use the money to hand out Obama phones, food stamps, welfare checks or whatever it takes. When debt no longer has any meaning, the sky’s the limit on spending, and political office can easily be bought by promising more handouts.
What happens when all the new debt comes due? That’s easy, too: Borrow more money from the Fed to make the interest payments on the existing debt! They’re just numbers, after all, right? It doesn’t actually matter if there are 15 zeroes after the leading digit or 24 zeroes, does it?
In a nation where the vast majority of voters are no longer capable of grasping simple mathematical concepts (like compounding debt), whether the debt is 16 trillion, or quadrillion, or quintillion seems to be of no consequence whatsoever.
That is, until the day of financial reckoning arrives.
The Day of Reckoning
I’m going to throw a party of the Day of Reckoning, to celebrate humanity reaching the apex of fiscal insanity. It was a journey much more expensive than sending a man to the moon, and yet we have nothing to show for it. Not even moon rocks.
The Day of Reckoning will arrive when the mass delusion of debt without consequence can no longer be sustained. Almost certainly, a war will have already been started in order to provide cover for the economic collapse. Because if there’s one thing far worse than killing civilians in war, it’s having voters find out Big Government cheated them out of their pensions, incomes and savings. Dropping a few bombs on some unlucky civilian population in a little-known nation somewhere is a surefire way to change the subject and blame somebody else for the problems created by runaway government spending.
As the consequences of infinite debt start to congeal, rest assured the government will try to save itself by confiscating nearly all wealth from the population. You can expect to see all the following taking place:
– Government confiscation of private pension funds and IRAs.
– Government confiscation of all precious metals (gold and silver).
– Huge increases in corporate and personal income taxes.
– Harsh new death taxes that effectively confiscate farms and ranches.
– Accelerated currency debasement that effectively “steals” the value of the dollars you’ve already earned.
This is the new era of not just “big government” but “MONSTER government!” It will now grow to the point where it suffocates freedom and liberty, enslaves the population and destroys everything of value in society: Wealth, morals, education, liberty and even rugged individualism.