The World Is Now $217,000,000,000,000 In Debt, And The Global Elite Like It That Way

ByTEC

In Debt, And The Global Elite Like It The borrower is the servant of the lender, and through the mechanism of government debt virtually the entire planet has become the servants of the global money changers.

Politicians love to borrow money, but over time government debt slowly but surely impoverishes a nation.

As the elite get governments around the globe in increasing amounts of debt, those governments must raise taxes in order to keep servicing those debts.

In the end, it is all about taking money from us and transferring it into government pockets, and then taking money from government pockets and transferring it into the hands of the elite.

It is a game that has been going on for generations, and it is time for humanity to say that enough is enough.

According to the Institute of International Finance, global debt has now reached a new all-time record high of 217 trillion dollars

Global debt levels have surged to a record $217 trillion in the first quarter of the year. This is 327 percent of the world’s annual economic output (GDP), reports the Institute of International Finance (IIF).

The surging debt was driven by emerging economies, which have increased borrowing by $3 trillion to $56 trillion. This amounts to 218 percent of their combined economic output, five percentage points greater year on year.

Never before in human history has our world been so saturated with debt.

And what all of this debt does is that it funnels wealth to the very top of the global wealth pyramid.  In other words, it makes global wealth inequality far worse because this system is designed to make the rich even richer and the poor even poorer.

Every year the gap between the wealthy and the poor grows, and it has gotten to the point that eight men have as much wealth as the poorest 3.6 billion people on this planet combined

Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by Oxfam today to mark the annual meeting of political and business leaders in Davos.

This didn’t happen by accident. Sadly, most people don’t even understand that this is literally what our system was designed to do.

Today, more than 99 percent of the population of the planet lives in a country that has a central bank.  And debt-based central banking is designed to get national governments trapped in endless debt spirals from which they can never possibly escape.

For example, just consider the Federal Reserve.  During the four decades before the Federal Reserve was created, our country enjoyed the best period of economic growth in U.S. history.  But since the Fed was established in 1913, the value of the U.S. dollar has fallen by approximately 98 percent and the size of our national debt has gotten more than 5000 times larger.

It isn’t an accident that we are 20 trillion dollars in debt.  The truth is that the debt-based Federal Reserve is doing exactly what it was originally designed to do.  And no matter what politicians will tell you, we will never have a permanent solution to our debt problem until we get rid of the Federal Reserve.

In 2017, interest on the national debt will be nearly half a trillion dollars.

That means that close to 500 billion of our tax dollars will go out the door before our government spends a single penny on the military, on roads, on health care or on anything else.

And we continue to pile up debt at a rate of more than 100 million dollars an hour.  According to the Congressional Budget Office, the federal government will add more than a trillion dollarsto the national debt once again in 2018…

Unless current laws are changed, federal individual income tax collections will increase by 9.5 percent in fiscal 2018, which begins on Oct. 1, according to data released today by the Congressional Budget Office.

At the same time, however, the federal debt will increase by more than $1 trillion.

We shouldn’t be doing this, but we just can’t seem to stop.

Let me try to put this into perspective.  If you could somehow borrow a million dollars today and obligate your children to pay it off for you, would you do it?

Maybe if you really hate your children you would, but most loving parents would never do such a thing.

But that is precisely what we are doing on a national level.

Thomas Jefferson was strongly against government debt because he believed that it was a way for one generation to steal from another generation.  And he actually wished that he could have added another amendment to the U.S. Constitution which would have banned government borrowing…

“I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.”

And the really big secret that none of us are supposed to know is that governments don’t actually have to borrow money.

But if we start saying that too loudly the people that are making trillions of dollars from the current system are going to get very, very upset with us.

Today, we are living in the terminal phase of the biggest debt bubble in the history of the planet. Every debt bubble eventually ends tragically, and this one will too.

Bill Gross recently noted that “our highly levered financial system is like a truckload of nitro glycerin on a bumpy road”. One wrong move and the whole thing could blow sky high.

When everything comes crashing down and a great crisis happens, we are going to have a choice.

We could try to rebuild the fundamentally flawed old system, or we could scrap it and start over with something much better.

My hope is that we will finally learn our lesson and discard the debt-based central banking model for good.

The reason why I am writing about this so much ahead of time is so that people will actually understand why the coming crisis is happening as it unfolds.

If we can get everyone to understand how we are being systematically robbed and cheated, perhaps people will finally get mad enough to do something about it.

SourceTEC

Find us here

Get news from the CSGLOBE in your inbox each weekday morning

The views and opinions expressed in this article are those of the authors/source and do not necessarily reflect the position of CSGLOBE or its staff.

Paid content

Top Ten Most Evil Dictators of All Time (in order of kill count)

Some people make horrible decisions, others are just bad presidents, a few are bloodthirsty, many are extremists, a couple are warmongers, and all of...

Society Controls Us

Society controls us. To state this sounds fairly obvious but there’s more to this than meets the eye. On one level we could say that...

Did Ancient Egypt Really Have Electricity?

Ancient Egyptians and electricity? So who was it that actually discovered electricity and took the opportunity to create an artificial light source? Benjamin Franklin and...

What's New Today

Georgia House Votes To Allow Citizens To Abolish Police Departments In The State

The Georgia House backed an effort on Friday to dissolve the Glynn County Police Department and any...

Leaked CDC document contradicts Pence claim that U.S. coronavirus cases ‘have stabilized’

Even as Vice President Mike Pence wrote in a Wall Street Journal op-ed published Tuesday that coronavirus...

Five bombshells about Trump from Bolton ‘s book

Excerpts from former national security adviser John Bolton ’s book about his time in the Trump administration...

Don’t Listen to Fox. Here’s What’s Really Going On in Seattle’s Protest Zone.

It seems I live in a city undergoing a “totalitarian takeover” that will lead to “fascist outcomes”...

MOST READ

What Is Agenda 21? Depopulation of 95% of the World By 2030

Most people are unaware that one of the greatest threats to their freedom may be a United Nations program which plans to depopulate 95%...

Bombs Have Been Dropped in Nevada – U.S. is Responsible

Apparently, America is now using Nevada's land to test bombs. With each passing day, the U.S. continues to follow their own personal agenda. A report did reveal...

Oklahoma High Schooler’s Carbon Discovery Elicits Wonder From Experts

Taking teenage rebellion to a new level, Oklahoma high school senior George Wang stunned teachers and fellow students when in April he co-authored a...

Top Ten Most Evil Dictators of All Time (in order of kill count)

Some people make horrible decisions, others are just bad presidents, a few are bloodthirsty, many are extremists, a couple are warmongers, and all of...

Activating Your Pineal Gland ( Third Eye )

Having trouble meditating, or remembering your dreams, or just feeling lost and disconnected from the Source? The problem may be a blocked (or calcified)...

At What Point Did We Start Accepting Our Insane World As The Norm?

Ever wonder when it was that we all started submitting to the terms of life as we are subjected to on a daily basis?...

Meditation Is…

Meditation is the direct perception of reality Meditation is the direct perception of reality, which is to say, it is a perception of reality which...

Declassified: CIA Helped Produce Hollywood Blockbuster That Grossed over $100 Million

The widely-celebrated and iconic 2012 film, Zero Dark Thirty, which detailed “the most classified mission in history” — one the U.S. government reported resulted...

These Two Students Created A Device That Puts Out Fires With Sound Waves

When it comes to putting out fire, GMU students show it’s all about that bass It happens so quickly you almost don’t believe it: Seth...

Once You See This Video, You’ll Probably Never Drink Soda Again. Trust Me On This

Warnings about the negative health effects of drinking soda are everywhere, but sometimes words are just not as impactful as visuals. This eye-opening video literally...

Morgan Freeman The Activist – Saving The World Around Us

Although the majority see him as just a mere actor, due to the fact that he always aims to better himself and the world around...