Public Debt - What a Whizz!

USA public debt rises by 1 Million Dollars every 18.5 seconds.
That's 4.6 Billion dollars per day!!!
The average US citizen owes circa $44,750 and incredibly this debt is
rising by circa $3,000 per year!
That’s before they even begin to plan their own personal finances.
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UK debt rises by 1 Million pounds every 6.5 minutes.
That’s 221 Million pounds per day!!!
The average UK citizen owes circa 14,500 pounds and incredibly this debt is
rising by circa 1,000 pounds per year!
That’s before they even begin to plan their own personal finances.
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Global outstanding public debt is circa 40.66 trillion dollars.
That’s $5,930 per person in the world. Considering half of the world's population live on less than $1,000 per year, it shows that that half would need to give all of their cash for 6 years to pay off their share of the debt, debt that they most likely never profited from in anyway.
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We are an evolving and advanced species and yet we see nothing wrong with any of the above. Having huge outstanding public debt means we are constantly paying off excessive loans and interest. There is not, nor will there ever be, a population level capable of ever paying off these debt levels. It is a virus that grows and grows.

Inefficient governments and credit pushing bond dealers are priming this debt spiral. But there are only part of the problem. The real problem of course is those who issue and validate these monies. For hundreds of years we have allowed private central banking institutions issue and control our public money. They are free to set punative interest rates and cream vast profits off the public purse. The inability of governments’ world wide to set their own fiscal policies by
issuing their own money and setting their own interest rates has led to the intolerable situation as above. None of the real problems of the world, like poverty and/or poor public infrastructure will ever get tackled effectively as long as we allow this position to continue. No private banking institutes should have ever gotten their tentacles into public expenditure. It is time to root them out.

Canada is a great example.
From 1935-1974 Canada as a nation state managed the issuing of its own monies and setting
of its own interest rates. This process started in '35 to drag them out of the great depression. During the subsequent 40 year period Canadian debt flat lined, at approximately 18billion dollars. Many great public projects were undertaken during that time, like the repatriation to the workplace of thousands of WWII veterans and the building of the great cross country railways. However the public debt stayed on a steady flat line. Why? Because no private greedy mitts had their hand at the tiller. It serves no purpose to charge yourself high interest rates and crucify your peoples. Many who lived their adult lives throughout this time spoke of a sense of social cohesion and a lack of visible poverty. Post 1974, due to significant lobbying from the banking industry, Canada ceded control to the private bankers. Its public debt acquired an exponential curve ever since then. It now stands at 544 billion Canadian dollars!!!!! (That's right, 18 to 544 in 36 years).
It has been estimated that roughly 10% of that bill is actual spending that the state has undertaken, while the other 90% is compounded interest, amassed through the recent years.

And so we come back to the 40trillion world wide figure above. How much of that is real spending? How much is just compounded interest? Interest on interest on interest ad infinitum for the past few hundred years. We owe this money to private banks. Private individuals profit from the payment of these debts. These debts serve no other purpose in society. If we took the Canadian figures above we could guess we may actually only owe 4 trillion, as opposed to 40 trillion.

It really is as simple as declaring a large portion of this debt null and void, then moving on with reset currencies and a more inclusive and socially responsible method of controlling public finances. Political courage would fix this problem in a really short space of time; however intense lobbying and false and fearful propaganda is keeping the old dysfunctional ways in situ.
DEBT (of this kind) - Debilitating Emasculating Bespoke Tyranny

Barry Fitzgerald
Author of "Building Cities of Gold"
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