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I’m seventy. Looking back in my life and the difficulties that I endured was mostly related to our nation government and both parties. Wars, taxation and most of all they the Republicans and Democrats created THE MOST BIGGEST HURDLE WAS “INFLATION”. Both parties are guilty and we the people allowed it to happen. The road ahead gets worse and the people that our government murder around the world belongs to you and me and Karma is a bitch to deal with. No one around the world is going to step up to help us. The 33 trillion dollars that we as an nation owe and that our politicians handed out and got kick backs, made their friends multi millions their corporations friends made billions and you and I our wife’s most work a 16 hour day to stay ahead of the bill collectors and still as a nation we can not make ends meet. All 100 senators and 435 congress persons should be investigated and if found guilty imprisoned.
The real relevant question is to whom do we owe the $33T?
The banks. Congress is SUPPOSED to create our money supply and WE THE PEOPLE are SUPPOSED to own it. But instead with the Federal Reserve Act of 1913, Congress abdicated their responsibility to private banks that make up the Federal Reserve System and gave money creation powers to privately owned banks. They create new money out of thin air based on "reserve requirements" (if they "hold" $1B, they can "loan" $9B, which is a fancy way of saying they can lend money that they don't have and doesn't exist) and give giant loans to their buddies to buy out whatever they want, transferring 1s and 0s into real productivity and real assets. Fiat money/fractional reserve currency is created in all credit transactions- they create a liability in your name and you pay them back with real wages AND interest. This is why banks don't give a crap when someone steals your credit card and makes a bunch of charges. It's not their money at risk- in fact, it's nobody's money at risk, it's just a new liability they can write off as a loss that cost them literally nothing to capture.
It's pretty wild that this is the world we live in. But nothing can possibly change until the entirety of the current money system worldwide is eradicated. Because as long as Banksters can create new money out of thin air and exchange it for goods and services, nothing holds any real monetary value.
The US Debt will never be repaid - both the lender and borrower are bankrupt.
You're missing the point.
Our "debt" is fake. It's fiat, based on nothing, manufactured, created out of thin air. We "owe" interest to the banking members of the Federal Reserve System simply because Congress gave them that right and promised our country to them instead of printing money through the treasury as intended.
It's not real debt. It cannot be repaid by design.