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Press Release

The Debt Ceiling Is a Good Thing

FreedomWorks President Adam Brandon released a statement on the talk of eliminating the debt ceiling:

"Debates over the debt ceiling are moments when conservatives can successfully fight to reduce the size and scope of government. It makes our enormous $20,000,000,000,000 national debt a recurring topic in Washington. It continues to present the opportunity for moderate Republicans to rein in the national spending -- if they ever find their spines to keep their campaign promises."

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“What difference does an increase in the National Debt make? We owe it to ourselves.” Nancy Pelosi would declare. Such a paraphrased statement, reflecting on the exoskeleton structure of the Federal Reserve, ignores the inner historic mechanisms of Rothschild banking and the proven destructive subterfuge hidden therein. 1

The medieval Rothschild Banks established a line of credit for the King provided the King issued a written promise to pay gold, with interest, to the bank at a time in the future. The book-entry Rothschild credit was used to pay for obligations incurred by the king and the credit continued to be circulated in the kingdom between merchants. The bankers sold the king’s interest bearing promise of gold to investors. The promise was renewed on its maturing date and was perpetually rolled-over. 2

VOILA !!! The king made the suppliers of services happy with Rothschild credit; the bankers had the gold; the public had a promise that the king would eventually pay them in gold—which would never happen. 3 Everything went smoothly as long as the bank could sell the promise and the people did not demand the gold. 4 As Benjamin Ginsburg has lamented in FATAL EMBRACE; (bankers) AND THE STATE 5, eventually the schemes, which stole the wealth from the people, would come to a catastrophic climax. 6

The Federal Reserve 7 does the same thing for the U.S. government’s deficit spending. Their wizard is hiding behind Frank Baum’s curtain as obscurant to any public inquiry.8

The Federal Reserve Bank of New York will grant credit (not “create money”) in an account of the US government with an amount that the government will pledge. 9 The government will expend the book-entry-credit account (deficit spending) to pay for goods and services consumed by the government. The suppliers are content. Evidence that the supplier has received a credit voucher is obvious. The heading of the currency given to the supplier by a local commercial bank is Federal Reserve Note; i.e., a debt obligation of the Federal Reserve identified as a “tender” (substitute) required by law to be accepted for an imprinted number of dollars. 10

To sell the pledge from the government (the Treasury security) at the highest price, the Federal Reserve will hold an auction but will camouflage it as an auction by the government. Acceptance of bids, determining the interest rate, and the amount of deficit spending permitted is controlled by the BOG.11 Government regulations clearly establish the funds from the auctions are controlled exclusively by the FRBNY; i.e., a franchisee of the BOG. 12

In addition to the approximate $1 trillion annually auctioned for deficit spending (new cash), the roll-over of approximate $10 trillion debt from prior years (publicly held maturing) is annually auctioned and disbursed by the FRBNY. 13

The difference in handling of the two accounts is the supreme camouflage. Funds for roll-over securities are credited by the FRBNY to a government account. The FRBNY then pays the Primary Dealers (from the government account) for their task in collecting the maturing securities from the public. There is no increase in the National Debt nor is there any inflationary resultant from these transactions.

If the funds from deficit spending securities were to be used in redeeming Treasury securities in the market (i.e., paid by the FRBNY to the government), it would eliminate any increase in the National Debt. It would also eliminate any increase in money in circulation (inflation). That clearly does not occur.


The only viable dispersal of funds identifiable to this writer is the funds are commingled with funds to select Primary Dealers. If the Primary Dealers include shareholders of a privately held incorporated Board of Governors of the Federal Reserve, they would not have to reveal corporate records,14 The profit could be completely hidden from view. 15 The deficit spending amount 16 would be clear profit for the owners of the BOG.

The statutory charter of the Federal Reserve stipulates profit of the operation belongs to the government. Concealment of funds that belong to the government appear to be embezzlement, among other crimes.

Various theories abound on how the purloined funds have been utilized to the detriment of society. 17

If the scheme is not exposed, Wall Street internal memos identify collection of the $20 trillion debt is the “ultimate goal” and would reduce the United States to the status of Greece. 18 Wall Street’s objective in Greece 19 is not to exploit, but is to destroy the nation. 20 Indeed, national sovereignty has been acquiesced by Greece to the Troika (financiers) as the terminal end of Goldman Sach’s “shitty” three billion Euro debt. 21

The proposed Goldman Sachs government budget (whoops, Trump’s budget) includes huge deficit spending increases (increased military spending with cuts in social programs) with unrealistic increases in national productive/tax base.22 This is the same scheme Wall Street and the CIA have used to bankrupt other nations for four decades. 23 The psychopathic war-mongering mandates a humongous deficit busting military expenditure, but this may reverse cause and effect. 24 The people will submit to anything if they are induced to fear a foreign threat,

Get ready to kiss your 401(k), your government benefits, your pension, and your bank accounts goodbye, with strikes prohibited, health care costs escalated, perpetual war, mass layoffs (including government personnel), and economic chaos among other things. 25 This is the Utopian government, controlled by bankers, that David Rockefeller so proudly promised for the world in his autobiography MEMOIRS and Carroll Quigley touted in TRAGEDY AND HOPE.

We can rest assured the same scheme is used by the ECB with the Euro.

The U.S. has two options:
The entire situation can be ignored with the public meekly submitting to Wall Street’s collection of the fraudulent $20 trillion National Debt and accept the fate of Greece [Greece has surrendered national sovereignty control to Goldman Sachs/Troika];
They can assert public pressure on congress-critters to audit relevant accounts and indict Wall Street.

PS: How can banks with (deficit spending) liquidity that borrowers will not accept for loans laundry the money? Well, they can buy stocks (and watch the price go up and say the corporations are buying their own stock) or they can buy bonds (and watch the yield go down as demand increases). Have you seen any evidence of this happening ?

FOOTNOTES [If deleted by software, they are available at
Ref. Embezzlement by Federal Reserve.]