If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson –
The current debt of the United States government sits at $19.6 trillion dollars and rising by the minute: http://www.usdebtclock.org/
As for the citizens of these United States, the average American has over $7,000 in credit card debt: http://www.valuepenguin.com/average-credit-card-debt
The average homeowner owes about $164,000 to banks on their mortgages: http://www.bankrate.com/finance/mortgages/states-with-most-mortgage-debt…
The average student has nearly $29,000 in student loan debt: http://ticas.org/posd/map-state-data
Over the last 6 years, the unemployment rate of college student graduates has fluctuated between 26 – 30% – more then double the rate of any other demographic. School also now costs over 600% more than it did in the 1970’s: https://nces.ed.gov/fastfacts/display.asp?id=561
According to FederalReserve.gov only $1.44 trillion dollars exists in circulation: http://www.federalreserve.gov/faqs/currency_12773.htm
Remember though, the United States of America has $19.6 trillion in national debt. Think about that for a moment, only $1.44 trillion dollars exists in physical currency? This means that only 7.1% of all “money” in the United States actually exists.
In other words, more than 92% of all “money” does not even exist; 92% of all money exists only as debt, as numbers in cyber space which are transferred from computer to computer. If every dollar/coin in existence was handed in tomorrow, not only would there be no money let for anyone to spend, but the US would still owe 17.9 trillion dollars to the international bankers which manage the FED – our nations monetary supply.
I am not going to say it will ever happen, but if every person in the US closed their bank accounts tomorrow morning, none of these banks could cover.
Never mind the troubles of the federal government, but America itself has transitioned into a debtor nation. As it stands today, the average adult in America owns $225,238 in overall personal debt: http://investorplace.com/2013/09/report-average-american-in-debt-hundred…
In August 2015, a survey concluded that 80% of Americans admit to being burdened by some form of debt and over 70% of American’s admit they could not afford their quality of life without the use of some form of debt: http://www.pewtrusts.org/en/research-and-analysis/reports/2015/07/the-co…
It is estimated that, each month, 43% of all households in America spend more money then they make: http://www.businessinsider.com/ny-fed-q4-2014-household-debt-2015-2
Approximately 41% of Americans either have a re-occuring medical expense or hold medical debt: http://www.eurekalert.org/pub_releases/2008-08/cf-7mu081908.php
As for those at the very bottom level of the economy scale, according to Amnesty International, 3.5 million Americans battled homelessness in 2015: http://www.nationalhomeless.org/factsheets/How_Many.html
This statistic in particular is made more disheartening considering the fact that there were 1.7 million foreclosed homes in the United States last year at the same time: http://www.statisticbrain.com/home-foreclosure-statistics/
Many of the worlds largest banks have been convicted in various international courts for “committing fraud” leading the mortgage crisis and market collapse of 2008. Unfortunately, some of these same banks made tens of billions, trillions collectively, as a result of this fraudulent practice.
Oh and by the way, some of these same banks later convicted in court are the same banks the United States Government gave hundreds of billions of dollars to so that they could remain open when the market did collapse.
^^^ pretty much sums up my thoughts on the matter ^^^
This article (Enjoy The Hilarious Adventure of A Lifetime) is free and open source. You have permission to republish this article using a creative commons license with attribution to Brian Dunn and Alternative Medi4