America passes $13 trillion in debt

[Large Sarge]

America Passes $13 Trillion In Debt
Submitted by Tyler Durden on 05/25/2010 16:26 -0500

Greece Japan Sovereign Debt


Total US debt per today's Daily Treasury Statement was $12,989,095 million. Also today, the US Treasury auctioned off $42 billion in coupon debt. This means that as of this moment, assuming the new debt were to settle today, the US has $13,031,095 billion in debt: congratulation America - you have now passed lucky $13 trillion in total debt. But don't worry, we won't stay here for long. At the current rate of issuance, $14 trillion will be passed in 8 months, and $15 trillion in another 7. By the end of 2011, we estimate total US sovereign debt to be about $15.5 trillion. For some recent vivid examples of prosperity courtesy of runaway debt issuance, please see Argentina, Japan and Greece.

[jetgraphics]

It gets better - you can't pay off the public debt with debt.
Federal Reserve Notes, pursuant to Title 12 USC sec. 411 are repudiated debt instruments of the U.S.
They have a minus value.

Of course, the over 300 million "human resources" pledged as collateral make it a "sure thing" for international investors.

[Hypertiger]

The money supply of the USA is 52 Trillion Dollars...

It's also debt because it was requested by the consumers of the USA to be created by the commercial banking system over the past 65 years.

The US Federal Government during that same period of time issued 13 Trillion Dollars worth of treasuries and BORROWED 13 Trillion Dollars of the 52 Trillion Dollars the consumers of the USA requested the commercial banking system to create the past 65 years.

People that don't work can't pay it back.

there are 145 Million workers in the USA.

52 +13 is 65 Trillion Dollars total.

$448,000 per worker.

Just the interest due per year for renting the money supply from the owners of it is around 2.6 Trillion Dollars

Total for the full 65 Trillion 3.25 Trillion Dollars per year.

or $22,400 per worker per year.

The cost to rent the money supply and pay the interest on the public debt is hidden in the cost of everything.

[Ponce]

Because I already know the end results all those numbers to me are exactly that "numbers".

[gunDriller]

or $22,400 per worker per year.

The cost to rent the money supply and pay the interest on the public debt is hidden in the cost of everything.


i like the idea of "Conscious Default".

or, it could be called "Kol Nidre".

that's where we tell the bankers the debt is cancelled, forgiven, and forgotten, and that any claims they make otherwise will be considered treasonous.

who was it that said bankers are more dangerous than standing armies ?

Let the Bankers eat Worm Castings.

[jetgraphics]

The money supply of the USA is 52 Trillion Dollars...

It's also debt because it was requested by the consumers of the USA to be created by the commercial banking system over the past 65 years.

The US Federal Government during that same period of time issued 13 Trillion Dollars worth of treasuries and BORROWED 13 Trillion Dollars of the 52 Trillion Dollars the consumers of the USA requested the commercial banking system to create the past 65 years.

People that don't work can't pay it back.

there are 145 Million workers in the USA.

52 +13 is 65 Trillion Dollars total.

$448,000 per worker.

Just the interest due per year for renting the money supply from the owners of it is around 2.6 Trillion Dollars

Total for the full 65 Trillion 3.25 Trillion Dollars per year.

or $22,400 per worker per year.

The cost to rent the money supply and pay the interest on the public debt is hidden in the cost of everything.


If you would, please upload the law that accomplishes what you claim. My 1992 edition of the US Code apparently lacks them.
I can find no law that says a unit dollar is paper, nor that 52 trillion dollars could ever exist - based on the Coinage Act of 1792, et seq.

At $20 per ounce, that would be 2.6 trillion ounces of gold.
Last estimate is that the world supply of above ground bullion was 5.5 billion ounces.
At $50 per ounce (post bankruptcy) it's not much improved.

What I think you may be stating is that there is an outstanding sum denominated in repudiated worthless IOUs, estimated to be 52 trillion dollar bills. (But even that sum of FRNs doesn't exist)
And that the enumerated 'human resources' are hypothecated securities - human chattel slaves - pledged as collateral on that unpayable debt.
Which is ironic, since usury is impossible to pay.
But according to their paper record, the obligation is consensual.

What fools these "chattels" be!

[Hypertiger]

The 1900 Gold Standard act changed the Dollar from a measure of Silver into a measure of Gold.

The Rothchild/City of London controlled the global supply and distribution of Gold but the USA was not on the Gold standard...so they backed the Gold republicans against the Silver democrats...bye bye 1972 coinage act.

The below changed it again.

The United States $1 Coin Act of 1997 was legislation passed by the United States Congress providing for a redesigned gold colored coin with a distinctive new rim. A major purpose of the Act was to allow for the replacement of the Susan B. Anthony dollar. The stockpiles of that coin had been depleted to the point that minting new coins would soon be required.

The US congress authorized Dollar currently

Mass 8.100 g (0.26 troy oz)
Diameter 26.5 mm (1.04 in)
Thickness 2.00 mm (0.079 in)
Composition Copper with manganese brass cladding:
88.5% Cu
6% Zn
3.5% Mn
2% Ni

and not 20 Dollars an ounce

The current Congress fixed price for an ounce of Gold is 42.2222 Dollars an ounce.

You see...a small group of people calling themselves "We The People" invented a thing they called Congress...

Section 8.

The Congress shall have power...

...To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

really and it's all legal...they invented the supreme court too.

The 52 Trillion Dollars is bank credit or IOU's

You can go to a bank and request 1 Dollar coins

All US coinage is the official congress approved and authorized money.

52 Trillion Dollars would require 410,892,857 short tons of copper to produce or 2.4 Trillion Dollars of copper to produce 52 Trillion Congress authorized Dollars

If for some weird reason the decision to convert all the credit into coinage was made by basically everyone in the system.

You would need everyone that had the ability to request a Dollar coin to do so...to cause there to be a demand for that much copper.

[Libertytree]

"Last estimate is that the world supply of above ground bullion was 5.5 billion ounces."

You trust this information?

I would put this number at a significantly increased amount! All of the paper that has been perpetuated in the last 100+ years has bought it (gold/silver) and it is still sitting in accounts with the chattell's name on it.

Time to collect.

[jetgraphics]

You are reciting that the law says so and so. Please post the TEXT of the law, itself.
And then re-read Art.1, Sec.8, Sec.10, regarding the limitation to gold and silver coin as tender in payment of debt.
Those counterfeit coins do not "pay" debt.



The 1900 Gold Standard act changed the Dollar from a measure of Silver into a measure of Gold.

The Rothchild/City of London controlled the global supply and distribution of Gold but the USA was not on the Gold standard...so they backed the Gold republicans against the Silver democrats...bye bye 1972 coinage act.

The below changed it again.

The United States $1 Coin Act of 1997 was legislation passed by the United States Congress providing for a redesigned gold colored coin with a distinctive new rim. A major purpose of the Act was to allow for the replacement of the Susan B. Anthony dollar. The stockpiles of that coin had been depleted to the point that minting new coins would soon be required.

The US congress authorized Dollar currently

Mass 8.100 g (0.26 troy oz)
Diameter 26.5 mm (1.04 in)
Thickness 2.00 mm (0.079 in)
Composition Copper with manganese brass cladding:
88.5% Cu
6% Zn
3.5% Mn
2% Ni

and not 20 Dollars an ounce

The current Congress fixed price for an ounce of Gold is 42.2222 Dollars an ounce.

You see...a small group of people calling themselves "We The People" invented a thing they called Congress...

Section 8.

The Congress shall have power...

...To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

really and it's all legal...they invented the supreme court too.

The 52 Trillion Dollars is bank credit or IOU's

You can go to a bank and request 1 Dollar coins

All US coinage is the official congress approved and authorized money.

52 Trillion Dollars would require 410,892,857 short tons of copper to produce or 2.4 Trillion Dollars of copper to produce 52 Trillion Congress authorized Dollars

If for some weird reason the decision to convert all the credit into coinage was made by basically everyone in the system.

You would need everyone that had the ability to request a Dollar coin to do so...to cause there to be a demand for that much copper.

[jetgraphics]

"Dollars, or units; each to be of the value of a Spanish milled as the same is now current, and to contain three hundred and seventy-one grains and four-sixteenths parts of a grain of pure, or four hundred and sixteen grains of standard, silver."
--- Sec. 9, Coinage Act of 1792, January 1792
----------------------
31 USC Sec. 5112. Denominations, specifications, and design of coins
(e)(1) ...weight 31.103 grams;
(e)(4) have inscriptions ... 1 Oz. Fine Silver ... One Dollar

--------------------
Now, to the 1997 law:
* Section 5112(b) of title 31, United States Code, is amended--
o (1) in the 1st sentence, by striking `dollar,'; and
*
o (2) by inserting after the 4th sentence the following new sentence: `The dollar coin shall be golden in color, have a distinctive edge, have tactile and visual features that make the denomination of the coin readily discernible, be minted and fabricated in the United States, and have similar metallic, anticounterfeiting properties as United States clad coinage in circulation on the date of the enactment of the United States $1 Coin Act of 1997.'.
-----------------
A unit dollar versus a dollar coin. Think they're talking about the same thing? NOPE.
Clever word twisting scoundrels. You have to know that in law, an adjective does not replace a noun.
A unit dollar is a silver coin.
A dollar coin is not a dollar.
Just like a Federal Reserve note is not a dollar, despite the words "one dollar".

Ex: District court of the United States versus the U.S. District court. Or Post office of the United States of America versus the U.S. Post Office. Or Georgia state (geography) versus the State of Georgia (corporation).

Article 1, Section 10. No State shall ...; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts;

[jedemdasseine]

What definition of grain was the Coinage Act using? How does one reconcile the difference in real weight between the grain units upon which the dollar was originally based in the Coinage Act and the present definition of the grain unit, and the changes thereto over the centuries?

If the dollar is based on a grain weight of silver, and grains are based on grams, and grams are based on kilograms, and kilograms are based on the International Prototype Kilogram, and the International Prototype Kilogram is based on the unique chemical properties of its platinum/iridium composition, are we actually on a platinum-iridium standard? ;D

[jetgraphics]

What definition of grain was the Coinage Act using? How does one reconcile the difference in real weight between the grain units upon which the dollar was originally based in the Coinage Act and the present definition of the grain unit, and the changes thereto over the centuries?

If the dollar is based on a grain weight of silver, and grains are based on grams, and grams are based on kilograms, and kilograms are based on the International Prototype Kilogram, and the International Prototype Kilogram is based on the unique chemical properties of its platinum/iridium composition, are we actually on a platinum-iridium standard? ;D

http://en.wikipedia.org/wiki/Troy_weight
http://en.wikipedia.org/wiki/Troy_ounce
At 480 grains, the troy ounce is heavier than the avoirdupois ounce, which weighs 437.5 grains. A grain is 64.7989 milligrams (mg); hence one troy ounce is 31.1034768 grams (g) (exact by definition), about 10 percent more than the avoirdupois ounce, which is 28.349523125 g (exact)

On the silver dollar: 1 Oz. Fine Silver ... One Dollar

Troy ounce = 480 grains or 31.103 grams.
371.25 / 480 grains = 0.77 ounce of pure silver
416 / 480 grains = 0.86 ounce of standard silver

Note: Millesimal fineness is a system of denoting the purity of silver. "Fine Silver" denotes .999, which is a higher purity than specified in the original law. However, .900 is equivalent to "Coin silver" in the USA, also known as one nine fine. That makes the 1 ounce "fine silver" coin in harmony with 416 grains of "standard silver".
(416/480 = .866; or rounded up to .9)

[Hypertiger]

Yes...no state...

Congress is not a state.

Again a small group of men calling themselves "We the people" gave a thing they called Congress the power...

..To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

The clad one Dollar coin defined in the US code is the authorized legal money.

So is the silver 1 Dollar coin defined there as well.

Banks issue credit...Which is created out of thin air money that is ultimately an IOU...

You can request the bank to give you real money...

Which is the clad coinage mentioned above.

(e) Notwithstanding any other provision of law, the Secretary shall mint and issue, in quantities sufficient to meet public demand, coins which—
(1) are 40.6 millimeters in diameter and weigh 31.103 grams;
(2) contain .999 fine silver;
(3) have a design—
(A) symbolic of Liberty on the obverse side; and
(B) of an eagle on the reverse side;
(4) have inscriptions of the year of minting or issuance, and the words “Liberty”, “In God We Trust”, “United States of America”, “1 Oz. Fine Silver”, “E Pluribus Unum”, and “One Dollar”; and
(5) have reeded edges.
(f) Silver Coins.—
(1) Sale price.— The Secretary shall sell the coins minted under subsection (e) to the public at a price equal to the market value of the bullion at the time of sale, plus the cost of minting, marketing, and distributing such coins (including labor, materials, dies, use of machinery, and promotional and overhead expenses).
(2) Bulk sales.— The Secretary shall make bulk sales of the coins minted under subsection (e) at a reasonable discount.
(3) Numismatic items.— For purposes of section 5132 (a)(1) of this title, all coins minted under subsection (e) shall be considered to be numismatic items.

But...

"Production of United States Mint American Eagle Silver Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Currently, all available silver bullion blanks are being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”

The United States Mint will resume the American Eagle Silver Proof and Uncirculated Coin Programs once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.

Update: Due to the continued, sustained demand for American Eagle Silver Bullion Coins, 2009-dated American Eagle Silver Uncirculated Coins will not be produced."

So if The US Government is not in control of the global silver production system...how can they acquire all the silver required to meet the demand...Or fix the value?

Like when the 1792 coinage act was decreed...there were no significant silver mines in the USA and the vast majority of the Spanish milled Dollars in circulation were from the Spanish looting/destruction of of South America operation.

[jetgraphics]

If you want to believe that "anything goes", try it in a court room, and then tell us all how it went.

To the best of my knowledge, the folks who produced bills of sale, showing that they alienated title with TWENTY ONE SILVER DOLLARS that complied with the Coinage Act of 1792 prevailed.

(In my own case, I was accused of making xx,xxx of dollars and "owed" a huge sum to the court. I took one of my bi-weekly paychecks to a coin dealer and bought (3) 20 dollar gold pieces and 5 silver dollars. I then showed the receipt, and rebutted the accusation for fraud, stating that my annual wages were only 1690 dollars. I won.)

[Hypertiger]

I've been arrested many times, never been convicted, and never spent a fraction of a cent on lawyers or legal expenses.

Human beings have no power to make or break LAW

All that Human beings can do is make and break rules and call the rules LAW.

But if the rule attempts to break LAW...LAW will break the rule.

[FunnyMoney]

....that's where we tell the bankers the debt is cancelled, forgiven, and forgotten, and that any claims they make otherwise will be considered treasonous.

who was it that said bankers are more dangerous than standing armies ?

Let the Bankers eat Worm Castings.


This is why TPTB will not go with that strategy. It will be paid on our behalf with declines in the standard of living. It will be drawn out over a long period of time and become global serfdom. Huge transfers of wealth will take place, just as they have during the decline of the dollar from what it was worth in purchasing power compared to the two cents of today. Already the migration to assets and precious metals is underway and by the time fiat gets fully revalued it won't matter as all the suffering will have forced all but the top elite into selling.

[jetgraphics]

I've been arrested many times, never been convicted, and never spent a fraction of a cent on lawyers or legal expenses.

Felony?
Misdemeanor?
Court docket number?
Just curious.