The Trillion Dollar Coin
*A “real” column returns today!
The past many years, I have written again and again and again about the debt and the destruction it has wrought. Here we go yet again. A broken record on perpetual autoplay.
Not too long ago, on the PPN (I think), I told of the financial horrors plaguing the lowly-paid workers at Disneyland. I mentioned something about the absolute lack of enough money anywhere to properly compensate them. They’ve been joined this week by the members of the IATSE. This is the entertainment world edition of the national quest for $15(!). As I have explained previously, that is approximately half of what the bare minimum hourly wage should be (and won’t/can’t be).
Here’s wishing all those good people well. But what they are up against is the hard wall of total financialization of the US economy. Debt, coupled with demographics, destroyed the American Nation and now dissolves the US as a polity.
Once again, the base criminal morons in DC are playing the old fiscal cliff-debt ceiling game. Is there any doubt in anyone’s mind that the pointless limit will be raised? No. Our beloved
Fed Chair Secretary of Treasury, Janet Yellen, who according to the Wiki “Early Life” was, in fact, born to “a family,” has publicly lobbied for Congress to give up control of the debt limit and get back to full-time Brahma worship. I mean, why not?
illegal private bank federal department even has an emergency plan to ensure full faith and credit and rainbow unicorns in the utterly impossible event that Kongress fails to act in time to further bury future Amerikans under a mountain of unpayable fake debts. They plan to mint – and this IS NOT A JOKE – a US Treasury $1 TRILLION platinum coin. One ounce of metal worth the entirety of LBJ’s 1969 economy. I could stop here. Even the assertion that this plan exists is definitive proof that this thing is wrecked beyond repair. However, in the interest of a full column, I’d like to poke around the old US Debt Clock for a little fun.
Note: I looked at the following figures on Tuesday afternoon; they’re worse now (whenever “now” is). In an attempt to stay slightly ahead of the extreme pace of our decline, I’ve rounded all the numbers upwards.
The total federal government debt (on books) that the popular press is having a meltdown over is $29 Trillion. Years ago, I predicted we’d be at $40 Trillion by 2024. I think we’ll make it. As-is, it’s roughly $87,000 per citizen and $229,000 per taxpayer. It’s also $54 Billion per Congress Critter, but they don’t count it that way.
This year, 2021, the dead empire has already expended about $7 Trillion, about half of it via new debts. The debt to GDP ratio is about 125%. All of this is “bad,” though we’re just getting started.
Total USSA unfunded liabilities total approximately $158 Trillion. We need that amount of cash on hand now to meet future requirements. We have approximately 0.0%.
The state and local governments are indebted to the tune of $3-4 Trillion. Ho-hum. Ma and Pa Amerika also carry serious obligations. Total personal debt is around $22 Trillion. That works out to something like $65,000 in debt per citizen. On average, Amerikan families have around $22,000 in assets. In other words, on average, Amerikan citizens and families, just like their governments, are bankrupt. This is why the loans – home, credit card, education, automobile, etc. – cannot and will not be repaid.
Another way to look at the gross imbalance is through the lens of interest paid by and to the banks. The people have lately received about $66 Billion from the banks. However, they’ve paid the somewhat ominous number of $666 Billion to the banks. See how that works, mathematically and maybe Biblically?
Here’s the big intersection of the foregoing, my previous statements, and Janet’s new coin: There is NO MONEY in the US economy. I say that with confidence and based on the date. The Treasury currently has around $785,000,000 in hard dollars available. Some are transfer notes, some are old bills in circulation, some are accounting errors. They don’t matter and they statistically amount to zero. The Yellen Coin (which I hear might feature a portrait of Moloch) would technically increase the actual legal money supply. It would also debase the supply by the same amount of “emergency value” it adds. That doesn’t matter either. Why?
Because the total of the fake, nonexistent “money” floating around is so ridiculously high that it completely eclipses the rest. The bad money has totally driven out and murdered the good. The Clock goes with the most conservative estimate available: a total fake money supply of $600 Trillion! (The more liberal estimates range into the multiple Quadrillion$).
The ratio of fake, nonexistent money (it’s not even fiat currency) to real (eclipsed) legal money is roughly 765,000:1. Add in the Great Platinum Coin of 2021, and the ratio pitifully improves to 600:1. Lord Gibbons wrote something about a similar program a long, long time ago. There are examples from Weimar Germany and Zimbabwe. Ho. Hum.
The solution is to nullify ALL OF the debt and abolish the system that created it. A gold or other hard standard could be reimposed. All dealings in fake or fiat currency along with all forms of usury (in any amount) could be made illegal – capital felonies if we’re serious. And, all of this could be done legally and quickly. It is or could be, a great reset, though, of course, not The Great Reset. This plan, being beneficial to the 99.99%, won’t happen in the dying US. However, once the empire is gone and new nations form from the ashes, it will happen. It has to. And it is the right, good, true, beautiful, and Holy thing to do.
Maybe the grandkids…
Back to the Clock, there’s more!
They note that this Century, even as the total population increased, the workforce shrank. We have as many eligible adults, not in the workforce, and people working part-time as we do taxpayers. We have more people dependent on one or more types of welfare than we have total workers or taxpayers. We have almost as many government employees as we do union members and factory workers. We have far fewer manufacturing jobs than we did in 2000. Despite all the fake money sloshing everywhere, we have more people in poverty than ever. And, despite (or thanks to?) Obamacare, we have about as many “uninsured” people as we’ve ever had.
Forget my old 1952 comparison and the loss of purchasing power. We can just run with numbers from the distant year of 2000. Remember waaay back then? Neither can I. Then, the average salary was $31K and the average home price was $167K. Now, the numbers are $35K and $370K. Congratulations on that $4,000 raise!
They also post some commodities to paper dollar comparisons from 1913 to 2021. Those are so fantastically laughable that I’ll just let you wander into them. Also, note the rise in the value of the scam known as “cryptos.”
The servants of satan tell us, with a smirk, that we’ll own nothing and we’ll be happy. We already own nothing. Happiness is what one makes of it. In closing, consider that, as for the masses, if or when the electricity, booze, and dope finally run out, being happy may well become synonymous with burning, lethal rage.
Just like at Disney, this ride is going to be wild!