Is the Ponzi Scheme Over? Government Defaults on Debt, then Hides the Truth from the Public.

Filed under Economic Preparedness, News  
August 14, 2013 Posted by:

Leave a comment

As Congress gets ready for yet another debt-ceiling fight, it seems our government may have already defaulted on its debts. For the last month, our debt has sat at $16,699,396,000,000; it hasn’t moved a single penny in either direction. Sadly, what’s most astonishing about the number isn’t the fact that we are over $16 trillion in debt; but instead, the fact that the number hasn’t moved in the last 30 days.

While most people would take this as a positive sign, the fact is, our debt has grown over $98 billion in the last 30 days – The Government just isn’t reporting it.

Why wouldn’t the government report $98 Billion dollars of debt, especially when they freely admit to the over 16.6 trillion?  

20 dollar billsWell the answer to that is actually pretty simple. If they admitted to it, they would be admitting to the fact that the broke the law and allowed the country to basically default on its debt. If the Treasury Department admitted to borrowing the additional $98 billion to cover the $98 billion deficit they declared in their monthly statement for July, the Treasury would be admitting that they had already surpassed the legal limit on the debt.

So instead of admitting to breaking the law, they just readjusted the scam a bit, and the debt magically stayed $25 million below the legal limit for the last 30 days.

Our economy is a ticking time bomb…..

How much longer can they continue to pretend were not broke? Think about it; could you continue to buy food and pay your rent if your checking account was in the negative territory? Could you fix the problem by readjusting the numbers in your check ledger, and then continuing to write checks?

My bet is you would soon find yourself in a small cell. But not our government, they just continue to write checks with money they don’t have and the American public just keeps looking the other way.

Our economy is basically one big Ponzi scheme, one that would land any other American in Jail if they attempt to manage their finances in the way our federal government runs the country. I just don’t see how it lasts for much longer; if you’re not prepared, you better start preparing for the possibility of a collapse.

Comments

14 Responses to " Is the Ponzi Scheme Over? Government Defaults on Debt, then Hides the Truth from the Public. " Please share your thoughts...

  1. Prepforit says:

    This is what I’ve been prepping for for the last 10 years. It’s coming, no doubt it’s coming.

  2. Henry says:

    The $16,699,396,000,000 number is a lie!! It is more like $70,000,000,000,000. Read this on Fox New!

    California economist says real US debt $70 trillion

    http://www.foxnews.com/politics/2013/08/15/california-economist-says-real-us-debt-70-trillion-not-16-trillion-government/

    We are going down any day people! We need to be ready.

    • Barry says:

      Unfunded LIABILITIES like SS and Medicare take the national debt over $125 TRILLION!!!

  3. Bruce says:

    Just a few corrections of your facts. (All sourced from: http://www.treasurydirect.gov/NP/BPDLogin?application=np )
    > The actual official debt has been parked at $16,738,***,***,***.**
    > It has been wandering around aimlessly in the sub-billion zone, peeking into the billion zone periodically.
    > Its high point, $16,828,845,497,183.90 was on April 30.
    > So it hasn’t been stuck for 1 month, but for 4 months!

    Your story is essentially correct, though your facts are a little weak. The real story is more extreme than you have stated.

  4. bryan kye says:

    Is it possible the government will stop paying pensions and stuff?

    • SNIPER says:

      YES, but I don’t think either party will do that, maybe no cost of living increase or something like that.
      It’s amazing how the parties in D.C. can decide what you can do with the money you worked and saved for your whole life.

  5. Shannon says:

    Wow, this is some extreme news. Thanks for getting it out there. We’re inches away from the collapse that’s been coming for years, and to make matters worse we could be entering WW3! Things are going to get really crazy soon.

    • The Man With The Power says:

      Don’t forget Fukushima. That mother is about to blow radiation across the Northern Hemisphere. We are screwed on a massive scale. If it is not one thing, it is another.

  6. curtis says:

    The real story is all this money has been stolen. The logical conclusion is to track down all this money and recover it. Next is to imprison those who have stolen this country’s wealth.

    • SNIPER says:

      not stolen, redirected.
      the reason the real figure is about $70 trill, is because of the money our gvt. has promised soooo much money to Egypt, Iraq, Pakistan, and just about every other country over and down there that they will fall apart without it, but what will happen when we have nothing left to give, like now??????

  7. olde reb says:

    the exact amount of the debt is really not too important. what is important is who, and how, will the debt be collected. Wall Street entities have ravished the third world and now they are feeding on Europe. The U.S. is next.

    ***************************
    FUNDING THE NEW WORLD ORDER

    It would be the epitome of human folly to ignore the repetition of the same Wall Street financiers who have routinely inflicted financial chaos and abject poverty by debt upon the under-developed world for decades, who now have leading roles in enforcing national IOU’s which they created in Europe that is devastating each nation, who created and manage the $16 trillion debt on the United States, who also permeate the U.S. Treasury, who are also the largest campaign contributors for congressional and presidential candidates, and who are further the putative recipients of hidden profit from their Ponzi scheme that embezzles trillions of dollars from the United States government.

    ********************

    The above is the first paragraph of an article posted at
    http://therebel.org/blogs-sorted-by-most-hits/667714-funding-the-new-world-order among other places (but without the Rebel‘s graphic). *** Is it of interest ?? Copies (with updates) available upon request.

  8. zorbo says:

    This is what happens to countries with governments that set up a central bank which is not controlled by the government. Thank you Woodrow Wilson, and all the others who created this ponzi scheme. And also a big shout out and thank you to those in congress who passed legislation to have this ponzi scheme continue. Now we find ourselves broke and in bondage to private bankers who own our country’s assets.

  9. Illoura says:

    Sorbo, check out other articles here… like The Economic Preparedness button (right side bar):
    “Realize your dollars may become worthless.
    You must seriously look at the possibility of an all-out collapse of the system. If this were to happen, your dollars would quickly become worthless.
    You must start to take a balanced approach to being financially prepared for the future. While investing in your financial future is important, the same can most definitely be said for investing in your ability to survive future disasters. If you haven’t started preparing for the possibility of economic troubles, now is the time to seriously consider stocking up to survive future problems, financial or otherwise.”
    I personally would cash in the retirement to pay off the IRS.

  10. dave says:

    It is the conservative republican house that is the SOLE cause of the default. The author of this article shows a total lack of understanding of government finance and debt management. He would better serve his readers by writing a gardening blog.

Tell us what you're thinking...