US national debt tops $34T for first time in history
(share.newsbreak.com)
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Ok. You said a lot there. I know a lot of countries hold US debt, but also many individuals in the form of bonds, etc.
Are you saying that if there is no natural person to collect the debt (bc it's held by a corporation or a gov) it's not a true asset? And, therefore uncollectible?
Debt owed is a liability. Investment in debt (bonds) is an asset, no?
By Trust Law, "ownership" of all assets on the planet can be broken up into two categories, the beneficiary, and the controller (or "trustee"). The primary bond holder for U.S. bonds are banks and corporations (all types of corporations, including governmental corporations), But these can't actually be either the beneficiary or the trustee because they are not Natural Persons, they are legal fictions, they don't actually exist.
The trustee (controller) part of this system is the more important part to understand to see the fuckery. The Beneficiary of a bond is a less important metric (though still meaningful). For example, in the case of a U.S. bond "held by the public," such as our Social Security system, the beneficiary of the U.S. Bonds held by that agency is We The People (at least ostensibly), but the controller, the Trustee, is all sorts of Natural Persons, including people like the Queen of England (or King now I suppose).
All the fuckery of our Modern Economy is run through this separation of beneficiary and trustee, and putting corporations in front of the Natural Persons that those things fall on.
Yes. Look at what people actually control the bonds (trustee's of the asset) and you will appreciate who rules the world.
Having said that, who the beneficiaries are is also of non-trivial importance. The beneficiaries (those who receive the interest payments) are also primarily banks and corporations. They are the vampires who suck the life-blood from the productive power of the American People. But there are a lot of bonds that don't seem to be such a bad thing (like the several trillion in bonds held by the SSA), but in reality, because even if some of the beneficiaries are still We The People, the entire rest of the possible means of utilization of the system is both under control and under custodianship of the PTB.
This also brings up an important point on the SSA. The SSA pays benefits through it's gained interest on U.S. Bonds. So the SSA began life by taking a loan from the Fed, indebting We The People. We The People then put mandatory money into that system to buy more bonds (about 15% of all income per person per year). The interest on these bonds then goes back to We The People in the form of benefits, but the interest is also PAID FOR by the other income taxes paid. Or it is rolled over and the debt accrues (both happen).
It is a system that is guaranteed to crush the economy at some point, where the interest is more than the total possible income. It was a fraud to begin with, made "necessary" by the Great Depression, which was itself a fraud to begin with, a planned event, to set up exactly that indentured servitude system for all Americans.
In the custodianship aspect, the Fed or one of their affiliates is the custodian of all U.S. debt assets. They determine who can buy a bond. They determine who can sell a bond. All bond transactions go through the Fed, and they can cherry pick benefits for buying and selling these assets in different regions, so in reality, the Fed (or really the Bank of International Settlements (or really the Natural Persons who control the Bank of International Settlements)) is the controller of ALL U.S. debt through their custodianship.