Is there any wonder our national debt is pushing $20 trillion?
An Inspector General’s report just revealed that the Pentagon spent an extra $28 million over the last decade in providing the Afghan Army special uniforms with a “forest color pattern,” instead of camouflage schemes. The pattern was chosen from a website by the Afghan Army’s Defense Minister. The irony of the selection is that only 2.1% of Afghanistan is forest.
[Afghan soldier in standard uniform]
The Pentagon has spent $93 million on uniforms for the Afghan forces since 2007. Had standard camouflage uniforms been chosen, the cost would have been $65 million. Switching to a camouflage pattern owned by the US military could save taxpayers $71 million over the next ten years.
(Uniform patterns are copyrighted. When the Pentagon goes with a design not owned by the military, it pays up. Further, the thought of that war, now America’s longest at ten years, going on another ten is horrifying.)
I know that some readers will dismiss this as “typical of the government,” and rightfully so. When you’re spending someone else’s money (the taxpayers’), you tend to be less thoughtful than when spending your own.
Just how robust would our economy be if those billions of wasted dollars were left in the private sector to be spent efficiently.
Fedgov spending will exceed revenues by $559 billion for fiscal 2017, which will be added to our national debt. Much of that debt will be financed by the Fed with money created out of thin air. Inflation is in our future, possibly even another financial crises. Buying gold and silver makes more sense now than any time I’ve seen in the last 44 years.
EMBEZZLEMENT BY THE FEDERAL RESERVE ??
“How does the Federal Reserve rape the United States?” you ask. Let’s keep it simple. They use the same scheme the Rothschild banks developed centuries ago but the methods of concealment are now much improved.
The medieval Rothschild Bank would establish a line of credit for the King provided the King would issue a written promise to pay gold, with interest, to the bank at a time in the future. The book-entry Rothschild credit would be used to pay for obligations incurred by the king which would then circulate in the kingdom between merchants into perpetuity. The bank would sell the king’s promise of gold which would be held by purchasers as an interest bearing investment. The promise would be renewed on its maturing date and continue to be rolled-over.
VOILA !!! The king made the suppliers of services happy with Rothschild credit; the bank had the gold; the public had a promise that the king would eventually pay them in gold — which would probably never happen. Everything went smoothly as long as the bank could sell the promise and the people did not demand the gold. 3 As Benjamin Ginsburg has lamented in FATAL EMBRACE; (financiers) AND THE STATE, eventually the schemes, which stole the wealth from the people, would come to a catastrophic climax.
The Federal Reserve does the same thing for the U.S. government’s deficit spending. Their wizard is hiding behind the curtain to obscure any public inquiry.
The Federal Reserve bank of New York will grant credit (not “create money”) in an account of the US government with an amount that the government will pledge. The government will expend the book-entry-credit account (deficit spending) to pay for goods and services consumed by the government. The suppliers are content. Evidence that the supplier has received a credit voucher is obvious. The heading of the currency given to the supplier by the local commercial bank is Federal Reserve Note; i.e., a debt obligation of the Federal Reserve identified as a “tender” (substitute) required by law to be accepted for an imprinted number of dollars.
To sell the pledge from the government (the Treasury security) at the highest price, the bank will hold an auction but will camouflage it as an auction by the government. Acceptance of bids/interest rate and the amount of deficit spending permitted is controlled by the BOG.10 Government regulations clearly reveal the funds from the auctions are controlled exclusively by the Federal Reserve Bank New York (FRBNY).
In addition to the approximate $1 trillion annually auctioned for deficit spending (new cash), the roll-over of approximate $10 trillion debt from prior years (publicly held maturing) is annually auctioned and disbursed by the FRBNY.
The difference in handling of the two accounts is the supreme camouflage. Funds for roll-over securities are credited by the FRBNY to a government account. The FRBNY then pays the Primary Dealers (from the government account) for their task in collecting the maturing securities from the public. There is no increase in the National Debt nor is there any inflationary pressure.
If the funds from deficit spending securities were to be used in redeeming Treasury securities in the market (i.e., paid by the FRBNY to the government), it would eliminate any increase in the National Debt. It would also eliminate any increase in money in circulation (inflation). That clearly does not occur.
WHERE DO FUNDS FROM THE AUCTIONS OF DEFICIT SPENDING SECURITIES GO?
The only viable dispersal of funds identifiable to this writer is the funds are commingled with funds to select Primary Dealers. If the Primary Dealers include shareholders of a privately held incorporated Board of Governors of the Federal Reserve, which would not have to reveal corporate records,13 the profit could be completely hidden from view. The deficit spending amount 15 would be clear profit for the owners of the BOG.
The statutory charter of the Federal Reserve stipulates profit of the operation belongs to the government. Concealment of funds that belong to the government appear to be embezzlement, among other crimes.
Various theories abound on how the purloined funds have been utilized to the detriment of society.
If the scheme is not exposed, Wall Street internal memos identify collection of the $20 trillion debt is the “ultimate goal” and would reduce the United States to the status of Greece. Wall Street’s objective in Greece is not to exploit, but is to destroy the nation. Indeed, national sovereignty has been acquiesced by Greece to the Troika (financiers) as the terminal end of Goldman Sachs’ “shitty” three billion Euro debt.
The proposed Goldman Sachs government budget (whoops, Trump’s budget) includes huge deficit spending increases (increased military spending with cuts in social programs) with unrealistic increases in national productive/tax base. This is the same scheme Wall Street and the CIA have used to bankrupt other nations for four decades. A humongous military budget is essential for psychopathic war-mongering.
Get ready to kiss your 401(k), your government benefits, your pension, and your bank accounts goodbye, with strikes prohibited, health care costs escalated, and mass layoffs (including government personnel), and economic chaos among other things.
We can rest assured the same scheme is used by the ECB with the Euro.