America: The path ahead, part 2

Ben Nelms's picture

Governments erode as they exert control that sooner or later diminishes human rights.

I think that, unless it is altered, our future will see past governmental/societal models morph into something relatively new and better suited for today’s more technologically-proficient systems of mass control.

And unless Americans and others stand up for themselves we will see what Establishment historian and Bill Clinton-mentor Carroll Quigley called a neofeudalist society in his mind-blowing tome, “Tragedy and Hope” (I dare you to read this book).

And at the end of the day most of the very large multinational financials and others will continue increasingly to control the laws of nations, including that of the U.S.

As this occurs our standard of living will continue to decrease, government control over our lives will continue to increase, the rights granted in the now-suspect Constitution will wither and we will, in effect, become wards of the state. This process began long ago.

But how could any of this stuff happen? After all, we’re Americans in control of our own destiny. We love our families and we just want to live our lives and find shelter in the home we worked so hard to own. But most of you who own your home don’t “own your home.”

Seventy percent of you (Census 2000) are actually renting it from a bank or mortgage company. And if you do “own” it, just fail to pay your property taxes and see how long that ownership lasts.

Over the generations we became a nation of people who, with the best of intentions, bought in to living our lives bound by the invisible chains of economic slavery. In America, debt became a way of life. And we had help getting there.

A foreshadowing of the debt future and the changes coming our way can be seen in the federal entitlements that we cherish.

These unfunded liabilities currently sit at about $59 trillion and include Medicare/Medicaid at about $40 trillion and Social Security at $10.7 trillion. Rest assured, we will pay the piper, and we will adjust our lives accordingly regardless of which of the two parties is in control.

It is beyond question that whoever controls debt controls the person (or the nation). Today, we continue to hear from our politicians and national media disinformation sources that China owns much of America’s debt (via Treasury securities) and that, if called in, it could cripple us.

The U.S. debt today is approximately $11.7 trillion. Way back on March 25 it was about $11 trillion. A CNBC slideshow ( at the time entitled “The Biggest Holders of U.S. Government Debt” cited sources including U.S. Treasury, Federal Reserve and U.S. Office of Debt Management and told a substantially different tale than the information we’re customarily fed by the national media about the ownership of our debt. The CNBC report listed the top 15 holders that owned $9.4 trillion, or 85 percent, of U.S. debt.

Luxembourg was #15, owning $87.2 billion of U.S. debt. Others included #13 Russia at $119.6 billion, #12 Britain at $124.2 billion, #9 Caribbean banks at $176.6 billion and #8 various OPEC oil exporters at $186.3 billion.

The larger holders of our debt were #6 Pension Funds at $456.4 billion, #5 state and local governments at $522.7 billion, #4 Japan at $634.8 billion, #3 China at $739.6 billion and #2 Mutual Funds (can you say 401k) at $769.1 billion.

And standing heads and tales above the rest at $4.8 trillion (or 44 percent of the total for the top 15) is the Federal Reserve System and intragovernmental holdings.

The Fed, by far the largest owner of American debt, was authorized by Congress on Dec. 23, 1913, but it was not and is not a part of the federal government. The Fed does receive superficial permission to print its own money, the Federal Reserve Note, from the very Congressional leaders who benefit from its existence since it provides the means to run up more and more debt.

I hate to burst the bubble of you who rely on the national media and the few corporate textbook publishers still in existence for your explanation of reality, but the Fed is owned by banking corporations and is essentially a Congressionally-authorized cartel of banking interests.

Those of you that may be interested in the Fed and its precursors and the prolific use of fractional reserve banking (ask your own banker how many pennies out of each of your dollars s/he holds in reserve) as a debt-building and nation-crippling financial instrument might consider reading Edward Griffin’s heavily documented book, “The Creature from Jekyll Island.”

It was President James Garfield who said that, “He who controls the money supply of a nation controls the nation.” As the premier central bank of the world, with the notable exception of the Bank for International Settlements in Basel, the Fed absolutely controls the money supply and the credit of this nation and it owns nearly half of our debt.

Don’t be misled in believing that, sooner or later, that debt will not be called in. That call will come and fiscal regulations will change (Congress will not bite the hand that feeds it) regardless who holds control of Congress and the White House and regardless whether the government/social system is labeled corporatist, fascist, capitalist or state capitalist.

The label is not important. It is the control that is important. One way or the other, the central banks that control the global economy outlive the leadership of nations and they never lose unless it fits their aim to morph into something else.

Functionally an oligarchy, the Congressional/Presidential Ruling Elite are no more than puppets. They will dance, but it is the “substantive powers in world finance” (Quigley, pp. 53, 326, 954-956) that will call the tune.

Summing up the matter as well as anyone was Amschel Meyer Rothschild who in 1838 said, “Permit me to issue and control the money of a nation, I care not who makes its laws.”

You may laugh at his arrogance, but this man’s family (via limited partnerships) is now in its fourth century in the international banking business. I guess that should make him the expert.

Part of this convoluted mess is the fault of the corporate/government Ruling Elite and part rests at our doorstep. This is why the New Revolution, perhaps it should be called the Slave Rebellion, must begin in our hearts and in our conscience.

And until Americans make up their minds that this mess is no longer palatable, the current situation will only continue to worsen. In our complacency we have already sown the wind. It is best that we not reap the whirlwind.

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