How To Escape a Default on the National Debt!!!, 4104

Good Sunday evening, I’m still reporting on the economy.

You may have noticed that throughout my many years on YouTube I’ve rarely followed the mainstream media’s penchant for handwringing over the brinksmanship as the nation approaches raising the “debt ceiling” problem on the national debt.

Why? Yawn. We all know some agreement will come. Compromises will be made on both sides. The Desperado party will agree to less spending than the claimed was necessary, and the so-called conservatives will agree to the more spending than last year and consequently more taxes to semi-pay for it all.

But stick with me for just another couple of minutes, please. I’m going to use this nearly annual controversy to contrast it with the reforms that a truly sovereign money system could oh-so-easily implement to solve all this debt problem for good.

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Hold the phone. We are only 5 seconds into this interview before I’m calling a monetary reform time out. The problem is that it’s both a revenue and a spending problem. But more importantly, it’s really a debt problem. We don’t need a national debt at all.

We didn’t at the founding of our nation after fighting for our freedom from England, and we don’t need one today.

A truly sovereign nation has the right to create its own money without such debt. In fact, the United States was born by Europeans trying to flee from the oppressive taxation that every debt money system in history has always devolved into.

A debt money system only serves two classes of people:

1. Those who profit from debt-based money – the biggest banks. And number 2. those who profit from collecting the taxes to pay for the interest inherent with a debt-based system – the revenuers – the ones known in Jesus’s time as the money changers, and those who derive power over their fellow men by forcing them to pay for the corruption of an over-spending authoritarian state.

The debt money system is the beating heart of every authoritarian system which has ever existed.

But there is a way out that is simple, and constitutional. So, now let’s turn back the pages of history 1,000 years to the legendary tally stick of King Henry the first. This is the way England solved this debt money problem a thousand years ago, and a lesson most of the founding fathers of this nation knew very well, a solution that every big banker hates to hear about.

This report, my tenth out of over 4,000, was first published on Jan. 9, 2010.

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