U.S. Debt Actually $200 Trillion?

[wildfirepower]

THE actual figure of the US' national debt is much higher than the official sum of $US13.4 trillion ($14.3 trillion) given by the Congressional Budget Office, according to analysts cited on Sunday by the New York Post.

"The Government is lying about the amount of debt. It is engaging in Enron accounting," said Laurence Kotlikoff, an economist at Boston University and co-author of The Coming Generational Storm: What You Need to Know about America's Economic Future.

Mr Kotlikoff says the debt is actually $US200 trillion.

Mr Moylan says the number is likely about $US60 trillion.

Complete article-:

http://www.blacklistednews.com/?news_id=10626

[Original_Intent]

I had read a year or so ago that there is something like a quadrillion dollars in derivatives floating around. So a fifth of that being attached to U.S. debt/obligations would not shock me.

[keepitlow]

Doesn't matter what the figure is...100 trillion...200 trillion...a zillion trillion.

Would it have mattered more if another 50 trillion was added to your estimate? What about another 100 trillion on top of that?

No...it just does not matter any longer. We have passed the point of no return.

All that matters is that the electric stays on so the silicon chips can create money and people on earth accept this money in exchange for labor and goods. But as far as paying it back? Does not matter.

Our debt will never be paid off with current value dollars. It is like a credit card that never produces a bill. You keep spending money on the card and don't care how much you spend cause it never has to be paid off.

Just think of it as grains of sand...

The Fed creates money out of thin air. Used to be the Fed at least printed money. Now all that needs to be done to create billions is to magnetize a silicon chip. And silicon chips are made from sand.

So all those hundreds of trillions of debt dollars are just a smattering of microns of magnetic field on a few grains of sand.

Money is and has always been just 'stored energy'. The dollar is and has always been backed with or without gold. It is backed by the American Way of Life. If you got some dollars, you can buy a life here.

But people still have to put trust in the money and way of life the money represents. This is why money gets devalued in nations that have or are about to collapse. No trust in their way of life any longer.

The problem with the backing of the dollar is that the American Dream is in shambles. And as our life in America crumbles around us...so must the dollar that represents this shattered dream.


Thoreau...as he penned in Walden.


"Some of you, we all know, are poor, find it hard to live, are - sometimes, as it were, gasping for breath. I have no doubt that some of you who read this book are unable to pay for all the dinners which you have actually eaten, or for the coats and shoes which are fast wearing or are already worn out, and have come to this page to spend borrowed or stolen time, robbing your creditors of an hour. It is very evident what mean and sneaking lives many of you live, for my sight has been whetted by the experience of others; always living on the limits, trying to get into business and trying to get out of debt, a very ancient slough, called by the Latin - 'Res Alienum' or 'another's brass' for some of their coins were made of brass. Living, seeking to curry favors, lying, dying, and buried by 'other's brass'; always promising to pay, promising to pay, tomorrow, and dying today insolvent."

[Bluedevil]

That number just adds the expected future entitlement cost right?

[newyearsrevolution08]

bigger the number

the more people will just not care anymore

whats another trillion lol

how sad is that thought process

[Stary Hickory]

Yeah really I think everyone in the world knows the US will default on it's debt and obligations. There is no longer any illusion or expectation that the US will not.

That really is sad, that and the fact the people have not downright revolted yet.

[oyarde]

That number just adds the expected future entitlement cost right?

yes , but too conservative .

[specsaregood]

Yeah really I think everyone in the world knows the US will default on it's debt and obligations. There is no longer any illusion or expectation that the US will not.

That really is sad, that and the fact the people have not downright revolted yet.
Why revolt as long as you are living high on the hog on debt that everyone in world already knows you aren't going to ever pay?

No, the revolt will come when the music finally stops.

[Zippyjuan]

That number just adds the expected future entitlement cost right?

And assumes that there are no taxes collected in the future too.

[wildfirepower]

USA real estates are worth $23 Trillion to $30 Trillion.

[awake]

Default or galloping inflation. There is no way out of it.

[squarepusher]

intersting though, is who we actually owe the debt to?

http://upload.wikimedia.org/wikipedia/commons/1/17/Estimated_ownership_of_treasury_securities_by_year .gif

this graph shows it is nearly half to the federal reserve. So, we stiff them, who cares?

[awake]

Last figure I have seen is 128 Trillion. When the number is this big you simply are not going to pay it off. Who will get ripped off is the only question left.

[wildfirepower]

"The Government is lying about the amount of debt. It is engaging in Enron accounting," said Laurence Kotlikoff
The declaration of Independence

IN CONGRESS, JULY 4, 1776

The unanimous Declaration of the thirteen united States of America

That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness.

But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.

http://www.ushistory.org/declaration/document/index.htm

[Zippyjuan]

intersting though, is who we actually owe the debt to?

http://upload.wikimedia.org/wikipedia/commons/1/17/Estimated_ownership_of_treasury_securities_by_year .gif

this graph shows it is nearly half to the federal reserve. So, we stiff them, who cares?

"The Federal Reserve and Other Intragovernmental Holdings" is not just the Fed. The Fed has about $700 billion or only about five percent of the total debt. The rest is held by government agencies like Social Security (the biggest holder), Medicare, and retirement funds. China and Japan both hold more US debt than the Fed does.