Poppycock: My Grandkids Will Have to Pay Off This Debt
Thursday, June 10th, 2010| Blog Entry Archive |

10 June 2010 — I continue to hear bad news regarding the economy, banking, the Stock Exchange, jobs, business, and more. Everywhere you go you hear people talking about buying gold to secure their future.
June 8, 2010 — The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015, according to a Treasury Department report to Congress.
The report that was sent to lawmakers Friday night with no fanfare said the ratio of debt to the gross domestic product would rise to 102 percent by 2015 from 93 percent this year.
“The president’s economic experts say a 1 percent increase in GDP can create almost 1 million jobs, and that 1 percent is what experts think we are losing because of the debt’s massive drag on our economy,” said Republican Representative Dave Camp, who publicized the report.
(Reporting by Donna Smith; Editing by Kenneth Barry)
So let me ask you this one question…. since the banking system as we know it was quietly ushered in, in 1913, which generation since then is it that actually paid off this debt to the Int’l Bankers?
As they say, follow the money.
The national debt is largely money owed to the central bank by way of interest on the money we use. Let me answer my question… there hasn’t been a single generation that actually paid that debt down, let alone pay it off. How do you expect any generation in the future to do any better?
The fact is, the current banking system was never meant to do anything other than what it’s doing now… bankrupt everyone but those who assume ownership of all the money in circulation. I ask you, can this end in any other way but what you now see before you?
Let me answer that for you… NO! It’s got to end bad, and it shall.
If I did not know better, the Elite banking families that instituted this debtor’s system may have had a target deadline of 100 years, which means they expect to collect in full by 2013.
Better hope I’m wrong.
Al Colombo
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4/25/10 – For those who know me well as a trade journalist, usually I make every effort to separate my writing on GKO from that of the magazines I write for. The only time I politicize my technical content (which is usually on my own websites) is when lawmakers are hard at work to derail some aspect of what we do as professionals in the security and life safety markets. 