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From the author of: The Survival Guide For The One Percent

the top ten myths about not paying off our national debt

page two

The myth held above all other myths: Currencies are specie backed; fungibility is still practiced; limiting access to currencies minimizes inflation; limiting access to credit is prudent fiscal policy, and unpaid debts to central banks results in injury to the lender.

Fungibility died on August 13th, 1971, with the Nixon Shock.

Credits for above images of Gold Bullion at base of page.

I have placed this Myth as number eight, and may be reviewed in more detail below.

    • The end of the Great Depression began through the concerted efforts of a President willing to spend the money to get some of the people back to work. Ultimately, the money spent to manufacture the goods needed for WWII put all people wanting a job back to work.

      Contrary to today, debts of every type, and quantity were forgiven following WWII. The central banks are preventing it.

      If money is placed back into an economy it grows, and puts people back to work. If pain is inflicted upon a nation, when it attempts to keep its citizens safe, the source of that pain must be eliminated. If a nation's health is diminished by individuals who demand their approval for access to funds is required, then they are the source of the pain. The links below are about the myths they perpetrate, and the dogma they present to keep us believing in their opinion about currency supplies, and fiscal policies.     This foolishness must end.

Some of the basics to remember, when you're wondering how, and why there are reoccurring crashes, and recessions:

It might be worthwhile to list who is responsible in driving our nation's debt to the estimated $18 trillion, but its far more worthwhile to note that the majority of the debt was imposed upon "we" United States citizens, by bankers (who, of course, know the inside track, and rules of the banking industry), and by those who engage in the practices the banking industry loves most. Nothing is more profitable to a bank's high dollar lending than wars, and nothing more important to a bank's high volume individual portfolio loan, than the residential mortgage.

It is worth noting, at this time, that the first rule of dogma is to know how, and when to label your opponent as an intellectual subordinate to your superior knowledge, and experience. Please also note that if their claim of superior knowledge, and experience was accurate, we would not have experienced the cataclysmic injury imposed upon us all in 2008.

In the end, we as United States citizens have been left holding the bag for the repayment of a cataclysmic debt, and are suffering from a:

a clear and present danger to the security of the United States

It has also become clear the Republicans, and many Democrats, within both houses, have failed to understand that they have the responsibility to the welfare of United States citizens, and not the banking industry. They even discuss ceasing to pay Social Security benefits back to those who payed them in through taxes. They discuss, instead, to use that money to pay the banker's loans. Again, we see them providing monies to those who never payed a cent into anything, as well as providing methods (The Panama Papers) to others to avoid the taxes they owe.

We, instead, as United States citizens need to seriously consider the following:

stop repaying the national debts related to banking erors, or wars

It might not be news to the majority, but for those who have not yet learned, currencies no longer have a commodity of value to back them up.

That stopped during the Nixon administration. This means, of course, if those in the money production, and distribution business were not paid back the $18 trillion, their loss would be no greater than that of printing (only a tiny portion needed to be printed), and administration. This might be a high of one tenth of one percent. Even that is sum too high to consider repaying.

For a refresher on this, or to see the first four myths, you may click here to go to page one, of this article.

  • Myth Number Five:

    Myth Number Five: The CBb suggests there needs to be a limited supply of currencies made available to the masses. They claim that increasing that supply will lead to inflation, and currency devaluation.

    • Before I go into a response that notes how specific events can be used to demonstrate how ridiculous this claim is, I want to note that if anyone is responsible for the over production, and distribution of currencies it is the CBb, USFRdc, and the CBny. The corporate side of banking showed no restraint when hundreds of billions were handed out for home mortgages.

      They initiated a period of inflation of home prices greater than I have seen, since the late 1970's.

      Their 2008 crash not only diminished the value of currencies worldwide, they fueled deflation of personal assets, at a rate seldom seen throughout history.

      Most banks, insurance companies, and brokerage houses expressed little regret, and lined up to obtain their share of the next round of currency production, and distribution, providing them relief from those failed high risk home mortgages.

      The CBb fueled deflation in every currency when they made trillions available to initiate, and support two wars that have yet to be resolved.

    • The circumstances that lead to the Panic of 1907 is an example CBny used as one of the events demonstrating the need for central banking. The Panic of 1907 was the event that brought central banking back (USFRdc) to the U.S., nearly one hundred years after President Jackson shut down the Second Bank of the United States.

      Unfortunately, that event demonstrated that bankers could be unbridled criminals. If you open, and read the link above about the Panic of 1907, you will learn how they did it.

      The USFRdc banking system did not, however, prevent banking from returning to unbridled criminal behavior.

    • It was only a couple of decades later that the banks, and brokers drove us into the Great Depression.

    • Trying once again to reign in the banks came the 1933 Banking Act. It helped out for quite a while, but the big banks, insurance firms, and Wall Street thieves couldn't have had a better ally than Bill Clinton. The Gramm-Leach-Bliley Act gutted the 1933 Banking Act.

    • The Gramm-Leach-Bliley Act, also known as the "Financial Services Modernization Act" (The new name suggested that the Financial Services Industry was in need of modernization for the sake of the public.), was an enormous profit windfall to the financial services industry. It was delivered by successful bi-partisan support, and pushing for passage by President William Jefferson Clinton. For more, from Wikipedia, go to this link: "Financial Services Modernization Act"

      If you had any thoughts as to how Bill, and Hillary got so damn rich, look no further. This is why. It was pay off. Here is more on the Clinton Foundation.

      The banking industry (CBny) demonstrated to us in 2008 that they could, and would ignore any attempts to curtail their desired criminal activities.

      Unfortunately, the 2008 crash also demonstrated that the masses could be fooled, or manipulated into obtaining loans for quantities of money well beyond their ability to repay.

      The CBny, USFRdc, and the CBb have few loan generating tools as important to their consumer market as the residential mortgage loan.

    • If, however, one allows themselves to ignore what those people were attempting to obtain, they would fail to understand that warmth, and cover from weather in a clean, efficient home is not an unreasonable goal. I consider it part of the United States Declaration of Independence, from the tyranny of Britain.

      Note the last seven words, within the United States Declaration of Independence.

      We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.

      Why do I use this section on the United States Declaration of Independence? I use it because it is within one of history's most important documents. The document informs a repressive, and even tyrannical government that they, as the citizens of a new nation, will no longer be assessed as a second class citizens, and treated as economic slaves.

    • I am not promoting anything akin to socialism, or communism. Those are names given to activities antagonistic to the preferred version of unbridled capitalism. Communism never worked because it was dominated by the tyranny of Stalin, Mao, and every despot that came to power.

      Even in the small native American communities practicing something quite close to communism, they have serious problems. Committees make the decisions about the distribution of needed, and basic goods. Those disliked by the committee are constantly degraded by their own versions of racism. Tribal members allege the more the appearance of white in the genetics of tribal members, the greater the limitations placed upon their ability to obtain equal shares of existing assets.
  • Myth Number Six:

    Myth Number Six: The bankers are attempting to maintain prudent, and effective fiscal policy.

    • The exceptions to their proposed prudent banking practices remain somewhat consistent, unless they need to prevent their own system from collapsing.

      There comes a time, just like every previous example of revolutions, where even the central bank's most staunch supporters, realize that the system has failed. Only the hope for continued capitulation from those legislators in the US, as well as the well healed Angela Merkel of Germany can keep it alive. The bank's own philosophies have driven it to ruin.


    • Wars, and in particular, the funding of wars contradicts that assessment of prudent, and effective fiscal policy. Wars do, however, allow them to re-invent their need to exist.

      The supposition of world stability at risk allows them to place themselves back on top. They then, again, get to guide all future policies under the threat of debt obligation.

      They allow the unbridled expenditures to mount, when some crazy gets into office, and finds a reason to start another war. The same players have been trying for decades, but supposed WMD's, and the Saddam Hussein's of the world give those crazies the opportunity.

      The first, and certainly second gulf war were about oil. Vice President Cheney has been proven, within the most recent Frontline program to have set the entire war philosophy to be about oil, and his company's purpose in the industry.

      Above image Credits: Property of, copyrighted by, and a trademark of PBS.

      The program is a must see, although you will need to be ready to be shocked by the reports from those, within NSA, and CIA, presenting intelligence information to Cheney. Amazingly, the intelligence agents risked huge repercusions for presenting what had happened, but wanted it known. Cheney, the latest crazy, (as would have been Paul Wolfowitz if he hadn't self destructed), ignored most pieces of information that contradicted his goals, and twisted their reports into substantiations for his goals.

      Those providing the reports to Cheney describe their shock to find little to none of their original material to exist in the reports passed on to Bush, and his Joint Chiefs.

      Here are two trailers for the program.
      The first is 31 seconds, and the second 2:42 minutes.

      Here is the link to the shows page:
      PBS' Frontline Program presents: The Secret History of ISIS;

    • PBS' Frontline Program presents: The Secret History of ISIS; The inside story of the the radicals who became the leaders of ISIS, the many missed warning signs and the U.S. failures to stop the terror group's brutal rise.

This is where it starts to get enjoyable. From this point forward begins the methods to take the banks down.

  • Myth Number Seven:

    Myth Number Seven: Begin with this supposition: The more you are in debt with a bank, the more you control the bank, and not the bank in control of you. It is, and has been one of the foundational principals of big business. Certain types of industries know, and use this more than others. (Banks know of it more than all other industries, but have little choice other than to stand up to the chance of being had.)

    • If you happened to watch Trump describe debt, and state."I love debt. Debt is not bad. Debt is terrific." (I had to paraphrase a bit.) You will not know what he means unless you recall that he is a land developer. Land developers take on debt like it was the waters from a fountain of youth. Trump is a master at it, and may be the only guy to put the banks back in a subordinate position. I am not endorsing him, but I certainly would love to watch him do it to those in Basel, and Brussels.

    • I built a business to many millions per year, with no more money than it took to simply stay alive. I could not afford to not get paid by a client. I did not know it, at the time, but land developers build their businesses with "other people's money". I came to know how a land developer works, so I never let a land developer sign one of my contracts, under the name of one of their downstream LLC's. They had to sign my contracts as the parent company, who was the primary investor in the LLC. That way I was not a victim of the following:

    • Land developers utilize unique business structures. When they started a new project, they had their attorney's, and accountants start a new "Limited Liability Corporation" (LLC). It helped get investors, because they could provide their private lending sources both legal protections, but also financial loss protections. If their private money sources lent them money, and the company went down, they could not become exposed to losses greater than that of their initial capital investment.

      The land developer would use that first funding round to get certain things accomplished, such as get city, county, state, environmental, etc. approvals for their project. Big banks will not touch a project before all those approvals are in place. The land developer partners would then very often, if not always, get big bank financing to buy their approved project, under a new LLC. This would get the first round lenders all of the money back. (They would need those people happy so they could use them again.) If, however, you were a vendor to the project, you could be toast when wanting to get paid. There are always more construction contractors to be brought in on future projects.

    This is where you start taking advantage of the big banks.
    • The big banks may hold title to your approved project, but they are not land developers, and know little to nothing about finishing the project's sell out period. Besides, you knew one other thing about a big bank. They will cut your nuts off at the drop of a hat, and care absolutely nothing about your welfare. Why care, at all, about their's?

    • The big banks will, when confronted with dealing with things they know little about, will sell out quickly, and at rock bottom prices. (Remember what they did with the housing foreclosures? They foreclosed, drop prices to cellar levels, sold to the very first person to offer them a way out, and left. They also left the neighborhood housing prices destroyed.)

    • Get a big bank in too deep, and they are predictable as hell. So, if you know your land development project has bad numbers, start showing the losses at the most advantageous timing possible, but do so prior to you actually wanting to go to sales activities.

      Build all components, and infrastructure required to facilitate sales, and then cease paying the banks loans. They will respond in either of two ways. They will, of course, first proclaim injury, and outrage, but soon thereafter, begin their process of looking for ways to reduce, or eliminate their losses.

      Be certain that you have in place, prior to ceasing to pay the bank, a fall back plan of whom you want to end up owning your project, if they decide to foreclose, and sell. This is the most effective plan, as long as you can insure that your planned buyer of the project from the bank succeeds in getting it. The buyer can obtain the project, with all required infrastructure, such as roads, sewerage, water supply, electrical, phone, and data lines, in place, and off the books as debt.

      The bank would rather not foreclose, and sell, so get the word to your potential buyer of the pending sale, and have them make overtures to the bank. Have the buyer offer seriously rock bottom prices, but be ready to up the offer to your top end, but your bottom dollar price at the proper time.

This is WHERE, and WHEN The United States of America
starts to RE-TAKE advantage of the big CENTRAL banks.
They need us far more than we need them.

What is there to loose that we are not already experiencing? Remember what President Andrew Jackson did, under similar circumstances.

  • Myth Number Seven:

    Myth Number Nine: Will be added on here shortly.

  • Myth Number Seven:

    Myth Number Ten: Will be added on here shortly.

    A personal request: I urge all who read this to communicate to their representatives a need to repay these organizations with yearly audits, and burden their legal, and accounting departments with so much work that their costs quadruple. They can't take those costs off their books.

    I also urge all who read this to communicate to their representatives the need to resolve our financial issues, by refusing to repay large portions of our national debts.

    I do not know if the negative ratings has caused the U.S. tax payers any more money, but it is an additional reason to stop paying off creditors, if the rating agencies can do what they did prior to 2008, and then act high and mighty.

Nearly 96% of buyers of Episode One have continued on to purchase all subsequent episodes. It is my impression that if I provide new potential readers an easy path to the series of episodes, I will likely develop, and keep new readers.

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