-Caveat Lector- http://thunder.sonic.net/~doretk/ArchiveARCHIVE/MARK%20EVANS/BondholdersStreng then.html by Mark Evans Sometimes we are told-or obliquely warned- about the future, even in the media. An article in the Santa Rosa Press Democrat on Saturday, August 13, 1994, is such a case in point. The article, entitled "Federal Budget Experts Find Entitlements Drying Up Well," is very telling if one has even a rudimentary understanding of economic reality, an ear for discerning doublespeak, and can read between the lines. Senator Kerrey (formerly Governor) of Nebraska, it seems, has been for some time the co-chairman of a blue-ribbon Senate Sub-Committee of "32 budget experts" who have been agonizing and studying and debating (presumably amongst themselves) about this problem of the budget for months now. "In chilling detail, they left no doubt that unless Washington limits social benefits-especially for health care-the government is headed straight toward bankruptcy." That is a very interesting statement in light of the fact that the U.S. government has been bankrupt for the better part of six decades now, having gone into receivership to the international bankers back in 1938, a fact which is known to every superior court and circuit court judge across the length and breadth of the United States; a fact also which most of them will rigorously deny and which only slipped out of one of them in an unguarded moment. So far, the bonded indebtedness or "bankruptcy" of the U.S. government has not prevented it from levying all manner of taxes on the masses and functioning, or allowing the IRS to function-fairly efficiently in this one respect, at least-to channel money from the working- and middle-classes to the elite circles who own the "preferred" stock in the right banks, in service on the interest "due" on the national debt. Keynesian economics and deficit-financing have allowed the U.S. government to function very well indeed over the last sixty years, even while the national debt increased from 13 billion-where it stood in 1933-to the more than 5 trillion dollars that it is today. We must always remember, and try to comprehend, that this almost incomprehensible sum of 5 trillion dollars of spent and dead money, which seems like a black hole in space to us, is a mountain of gold in the form of interest-bearing securities to the bond-holding classes, who collect their semi-annual, tax-exempt dividends on this enormous sum. The article continues: Among the most eye-catching findings: �The Social Security Trust Fund is on track to go bankrupt in 2029. �The Medicare Trust Fund will go bankrupt in 2001. �Spending on social "entitlements," especially health benefit programs, combined with interest on the national debt, is growing so fast that together they will consume all federal tax revenues by 2012. . . These dates may be accurate; on the other hand the well may go dry even sooner. And what shall happen then is a question we should all consider. In the meantime, this specter of the government "going bankrupt" is being used as a bogeyman to scare, or persuade, the masses to accept the new austerity measures that are being imposed top down on the American people in much the same manner that the International Monetary Fund imposes austerity conditions on any Third World country. Actually, going into bankruptcy might not be such a bad thing to happen to the government, were it to do it lawfully, the way any individual or family would. If the U.S. government were to file a Chapter 7 bankruptcy, liquidating all of the real estate and movables yet owned by Uncle Sam, we, the people, could then witness who the real creditors are when they come in like carrion crows to feast on the corpse. It could also be convincingly argued in a court of law, in the context of bankruptcy proceedings, that the national debt itself is a fraudulent entity because it was incurred by fraud, and fraud has tainted every aspect of its progress and accumulation from 1791, when Hamilton funded the near-worthless revolutionary war bonds, through the National Bank Act of 1863, and the Federal Reserve Act of 1913, until the present. The ruling classes do not want the United States to actually file bankruptcy. It functions quite well as an engine of neo-feudal tax-collection as it stands. Why kill the goose that lays the golden eggs? They merely mean to startle us by the threat of bankruptcy into accepting less-less "entitlements" in the future and no health care, and the reversal of all the token socialism left over from the New Deal. You will note that the article lumps social "entitlements" (as if anyone could be so brazen as to think they were "entitled" to anything from the government) together with the interest on the national debt and states that "together they will consume all federal tax revenues by 2013." Actually, the interest on the national debt is much larger and is growing faster than the "entitlements" (spending on social services). But the national debt is a sacred cow, one of the main cash cows of the ruling classes and a cow that may not be sacrificed. Historically, since the 1930s at least, social democrats and liberals have believed intrinsically in the institutions of the graduated income tax, and the Social Security System because of the beneficial aspects of the social programs instituted under the New Deal. These institutions were accepted by most progressives as fulfilling certain aspects of the agenda of Fabian Socialism. Now, however, the fangs of the monster are beginning to show. It seems that the only group of people who are "entitled" to anything any longer are those mysterious owners of the Class A stock of the International Commercial Banks, the recipients of the interest "due" on the national debt. <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance�not soap-boxing�please! These are sordid matters and 'conspiracy theory'�with its many half-truths, mis- directions and outright frauds�is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. 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