The US government finally surpassed the long anticipated $20 trillion national debt mark on Friday the 8th.
Oh, I don’t say “finally” because they had so restricted their expenditures that it was taking longer than expected. That’s far from the case!
In fact, under globalist, Donald “Big Government” Trump, the federal government had its largest deficit month in history in June topping $400 billion for the first time.
The only reason it took this long to hit the big $20 trillion was due to a multitude of accounting tricks in order to put off acknowledging the expenditures until now in order to meet the debt ceiling… which I actually call the debt target, because they hit it every time.
How’s that for a chart? Does that look, in any way, sustainable? The short answer is, NO, OF COURSE NOT.
But, what else would you expect from a government who routinely loses trillions of dollars. Like that time Donald Rumsfeld announced the Pentagram (they call it the Pentagon) was missing $2.3 trillion on September 10th, 2001.
The next day, the accounting department at the Pentagon blew up and no one asked about it again.
Even the US government’s own auditors haven’t been able to audit their books properly for more than 20 years because it was deemed too vast to account for. Yes, too vast! Here’s a pro tip… if you have the largest government in the world, with the highest level of extortion (taxation), highest levels of debt and the most people in concentration camps… you aren’t the “land of the free.”
But now that the US government has admitted to $20 trillion in debt, what does this mean?
Well, first, that isn’t even close to the total debt and liabilities of the US government. When you take into account money already spent on Socialist InSecurity and Medicare, the total amount of debt and liabilities amounts to somewhere between $100 and $220 trillion.
And yes, there is about $100 trillion give or take that is hard to account for!
But, even if the lowest estimate of $100 trillion is used, that is still over $300,000 for every man, woman, and child in the US! Even a baby unlucky enough to be born today in the USSA is saddled with more than a quarter of a million dollars worth of debt.
Many Trump supporters say the exact same thing every President’s supporters say once he is in office… It isn’t his fault… It was the last guy.
To some extent that is true… But, there is absolutely nothing being done to reign in the spending of the US government by Trump. In fact, as I pointed out, it has only increased under his tyrannical regime. Exactly as I said it would.
This is the never-ending game of politics, to keep making things worse and worse and to keep people hoping for a change that never comes as the boot stamps down on their face, forever.
There will NEVER be change until people stop paying their extortion fees (called taxes) and stop obeying the illegitimate authority of government.
Government is nothing but a criminal organization. The only difference between it and the mafia is size.
And the only reason some people haven’t figured this out yet is because they are “taught” as children in the government indoctrination camps, doing their daily Pledge of Obedience and worshipping the flag from the age of five.
The only other way this tyrannical organization can be stopped is if/when it goes completely bankrupt and its fiat scrip, the US dollar, becomes worthless because of hyperinflation.
Because, after all, with $20 trillion in debt, if interest rates were allowed to rise to even 10%, that would mean $2 trillion per year in interest payments… which is almost the entire tax/extortion/theft based revenue of the murderous US government.
At that point the dollar will hyperinflate in order to keep the game going for just a few more months. And then, total collapse.
It’s actually been planned for decades and we are nearing the end game right now. In fact, it may begin this month. Stay tuned to this blog (make sure to subscribe to our free email list on our home page to get them emailed directly to you as most social media continues to block our content) as I’ll soon be releasing some information that indicates the total collapse could begin as soon as this month.
If you’d like to find out more information on not only surviving, but prospering during this collapse, make sure to check out Max Wright’s free webinar here. He goes over why the crash is coming and how you can protect yourself from it and even make massive profits through it.
The webinar is free and has some excellent information in it. It is only offered to a limited number of people and for a limited time, but you can get access to it HERE if you act immediately.
I suggest you do because if you still have not prepared for the coming collapse, then you are really leaving things until the last second. I expect things to begin to go off the rails as soon as this month.
Stay tuned here for more information in the coming days.
The national debt isn't what people think it is. You can't think of it in the same way as personal debt. Our entire money supply is created via debt. If the US government paid off $5 trillion in debt tomorrow, the money supply would be reduced by that amount. Prices would plummet as a result. Now, maybe massive deflation sounds good to you, but it would be catastrophic to the economy, not just domestically but globally.
A $20 trillion national debt means there's $20 trillion of money for the private sector to use. Every dollar of debt paid off is a dollar sucked out of the economy. That also means that we as individuals end up taking on more debt ourselves. As public debt decreases, private debt increases, and vice versa.
I'm not saying that we should crank up the debt and aim for $50 trillion then $100 trillion, because it should reflect our GDP, which for the most part it has, but I am saying that you are peddling fear when you suggest a collapse is around the corner due to there being $20 trillion in the economy for the private sector in a country with about $20 trillion in GDP.
But hey, peddling fear like this seems to be how you make money, so why let reality stop you, right? Reality can be bad for business when you're selling snake oil.
Debt is whats going to roll over this economy, defaults are already starting to peak, any system based on it is going to fail eventually, I would say this article is a wake up call for most, we are in the melt up, melt down is an inning away
Would you recommend investing in ETH +LTH or move into Bitconnect?I was also thinking to invest in usi-tech. My partner is gettting $20 daily return on his investment. What I absolutly love to learn about and do and write about are cryptocurrency, modern society and tech, and ecommerce. Thank you for sharing this information.
look at Zimbabwe, Hyper inflation, thats what happens when you turn on the printing presses. Wheel barrels of money to buy a loaf of bread. The only way to save the dollar is to back it with gold, again.
Absolutely unsustainable..buy Crypto & enjoy the wealth transfer 👌👌
Wealth transfer to the individual. What is the next hot coin to invest in where it will grow like the bitcoin? Thanks.
Agreed 👍
It's unlikely the US dollar will default on its debt, as the US is doing everything it can to force Bitcoin users to pay taxes. Our funds and legal marijuana funds will be their next lucrative market to abuse at the expense of everyone else. I can't wait until China officially drops the US Petro dollar.
You make some valid points , It will be quite a scenario seeing how this financial games is going to play out.
What does that mean that China drops the US Petro dollar?
It means that they use their own currency to buy oil. Most countries have to convert their currency into US dollars to buy oil. If China starts using their own currency, they will greatly decrease the demand of the US dollar and the supply/demand of the US dollar which shift. The glut of supply of dollars will have a drop in price (foreign exchange).
If global demand for USD collapses like that, all the USD (inflation) the US has been exporting since the 70s will come back home, most likely leading quite rapidly to hyperinflation.
Any similarities between that debt chart and BTC price?
Does that mean, based solely on shape of the curve, that one curve is sustainable and the other isn't?
Mostly i cant stand your articles.... too damn negative and youve been wrong way too many times to count...
But this one was really good! You really made some solid points on how this debt is unsustainable.
Bitcoin will be a safe haven whenever the market collapses
which markets?
Stock market
buy bitcoin
I got nervous in 2008 when the debt was at 8 Trillion lol... guys stack all the silver, gold and cryptos you can in the next 3 years... shit is going to the moon!
Seems like just yesterday it was 11 trillion dollars. Crazy stuff. I'll keep buying silver.
I thought it was only like 7 trillion the other day. only right?
silver is a good investment. Always has been.
why does the us government need to borrow so much money?
America is a country of dreams but to fulfill dreams , it always cost something.
On January 26, 2016, debt held by the public was $13.62 trillion or about 75% of the previous 12 months of GDP. Intragovernmental holdings stood at $5.34 trillion, giving a combined total gross national debt of $18.96 trillion or about 104% of the previous 12 months of GDP.
List of countries by external debt
Rank Country/Region External debt US dollars
1 United States 18,286,510,000,000
2 United Kingdom 7,499,400,000,000
3 France 5,250,608,000,000
4 Germany 5,084,360,000,000
No worries Jamie Dimon has it under control.
Ridiculous, maybe if the USA stop spending trillions on ware-related activities their debt might not be so high.
Or is it that war actually makes the country money?
@originalworks Even the graph itself doesn`t look stable....
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USA and all the western capital countries are dept based economies. This means that money is given out under the form of dept. So dept isn't necessarily a bad thing in western countries. Btw dept to GDP ratio is only around 105%. In my humble opinion it would take a lot more to crash the american economy.
I myself am not a fan of this system but it's the one we live in. I hope I'll live to see the day cryto replaces this old corrupt system!
inject liquidity on sunday and smash metals this week
realy nice post, thx a lot @dollarvigilante!!
And Bitcoin is a fraud..wow
Yeah, that's the "phony" money, "wink...wink"
Rally Cryptos!
they will keep printing and chinese will keep buying the shit debt.
they have actually started selling the US shit debt lol
they buy more than they sell.
Upvoted, re$teemed & following!
thanks
good post and very true.
People talk, and no action.(like not paying taxes). It's tough. Tough to actually face reality, for most.
see my rant, are where you are in the spectrum....uncomfortable reading for some..
https://steemit.com/blog/@patriotwargamer/freedom-isn-t-free-grow-a-pair-ffs
Thank you I think it's useful
$20T is just what is on the surface. What about the $200T plus derivatives that are floating out there. If we begin to add all the unfunded liabilities up, an amount close to $500T is not unimaginable.
Insane how sane you are. Great post, as always.
I guess that does look ever so slightly unsustainable.
Great post thank's for share it with us
great...........😍😍😍😍😊😊😊😊😊😊
To think I felt bad about my debt ha!
@dollarvigilante Your generate up is spectacular. Mad regard for sticking as a result of many of the hardships, Many of us would've Give up A great deal before..
Who exactly is this 20 trillion dollars owed to? Is it 20 trillion worth of fiat currency created out of thin air by the Federal Reserve and considered debt upon issuance? If so why bother paying it back at all to this criminal organization?
debts from central banks or the world bank are designed "not" to be payable in full. A scam basically. Glad people are waking up
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@dollarvigilante Thank you for the function, I invite you to evaluate my function..
Seriously what am I gonna do?
Jeff, are you doing anything with "Bitclub"? Or are you too involved with everything else?
Thanks for the post Jeff.
The FED will be DEAD by end of next year or sooner!
Debt is growing and governments are so desperate that some are banning Bitcoin...
haven't heard from Jeff in a while. anybody??