UNDERSTANDING GLOBAL ECONOMICS
PREFACE: A Quick Lesson
Teacher: Ok, before we get started today I taught I would play a 45 (7” 45rpm vinyl record; origin: RCA 1949) by The Cascades, Rhythm of the Rain (1962).
Student A: Come on, since we are going to talk about the term ‘international’ today, I brought my new Panasonic 8-Track Player (Stereo 8-track origin: Magnetic tape devise; 1964, Lear Jet Corp joint effort with: Ampex, Ford, GM, Motorola and RCA; in Ford’s 1966) and the Commodores new song, Just to be close to you (1976) that I saw on ABC’s (Radio: 1943; Television: 1948) American Bandstand show.
Student B: That Lionel Richie can sure sing; we listened to it on cassette (Philips Co. Netherlands, introduced 30-minute format 1964) in my Dad’s new Corvette Stingray; he says it has 210 horse power and cost $ 9,000. We got it at the Bicentennial Sale (1976).
Student C: Some of our Dads can only get loans for the new Chrysler Volare at a third of the price (1976; $ 3,200).
Student D: Yeah, and most of us actually ride in used cars with FM radio (WWII; 1941 first modern commercial FM station; not until late 70s most radio listeners on FM)
Student E: Did you see Sony’s working on an optical digital audio disc (demonstrated in 1976; standard Compact Disc – CD – would not come until 1980); I bet the player will cost a year’s salary (Though $ 1,000 in 1983, they still sold 400,000+ players 1983-1984; itunes launched 2001; by 2010 downloads would dominate the market; US Census: median household income 1976: $ 11,379; 1986: $ 23,457; 1996: $ 34,941; 2006: $47,599; 2016 about $ 55,000).
Teacher: Well, before we get started I need to record the roll on my floppy disc (5.25” disc – no hard drives at the time on PC’s; original 8” floppies replaced for marketing and price control purposes, then to 3.5” – more data, smaller space and cost – better technology – better sales) with our new Apple 1 computer (1975, Apple began donating model computers to schools – later billion dollar government contracts; like Mircosoft and others get – whose owners get rich then say – we should not have to pay our excessive profits back to the government in the form of taxes, but we should pay our stockholders – ourselves that is).
Student F: I’m ready for lunch [Bread, 1913 pre-Federal Reserve, Income tax and WWI: $ .05 2013: $ 1.42 up 2440%; Milk – gallon 1913: $ .35; 2013: $ 3.53, 890%; Cheese (1 lb.) 1913: $ .22; 2013 $ 5.82, 2530%; Potatoes 1913: $ .02; 2013 $ .76, 3820%; Chuck Roast 1913: $ .15; 2013 $ 3.70, 2380%]
Student G: And going to eating rice (1913 $ .09; 2013 $ .72, 800%) and pork chops (1913 $.19; $ 3.42, 1800%) at home (Median: 1963: $ 17,500; 1973: $ 32,500; 1983: $ 75,300; 1993: $ 126,000; 2003: $ 195,000; 2007 $ 247,900; 2008 – Bernie Madoff $ 60+ Billion Ponzi Scheme and Subprime market crash – before Taxpayers bailout Wall Street Banks – but though Madoff was a non-executive CHAIRMEN of Nasdaq for 3 years regulated by SEC, but Investors could not sue SEC according to the US Court ruling and to date I have not seen NASDAQ in court over it; 2009 median house: drops 13+% from 2007 to $216,700; 2013: $265,000; 2016: $ 310,000 – banking lending, backed by government TARP foreclosure prevention program – HFAIF – paid out trillions to banks and still paying estimated to cost about $ 16.8 trillion; almost as much as our current debt approaching $ 20,000,000,000,000).
End of a lesson in history.
I have been asked, ‘which economic model do you support or base your views on, Keynesian, Supply-side…?’ U.S. and Global Economics does not occur in a vacuum; it is effected by so many variables, such as war, conflicts, corporations, the Federal Reserve (which is not Federal), oil prices, energy prices, supply and demand, technology, fraud, greed, money laundering, drugs (legal and illegal), laws, prison systems, crime, mortality rates, the EU, the UN, NATO, NAFTA, the IMF, the World Bank, famine, natural disasters, populations, Military budgets, Medicare, Medicaid, Social Security, Pension Funds, Debt repayments, GNP, the Stock Market, the Housing Market, lobbyist, Bilderberg meetings, Trilateral meetings, CFR meetings, FICO scores, Credit Bureaus, Lending policies, Default ratios, balance sheets, Prospectuses and a hundred more significant variables; thus to ask which single outdated model developed before Statistical Analysis Software and modern hard drives were even conceived, misses the point and the mark – which is why most at the Fed, walk outside and stick their finger in the air and stay ‘the wind is blowing this way today,’ and why most politicians (outside of power and greed) yield to lobbyist and each other, because more perish for a lack of knowledge than do for corruption.
CHAPTER ONE: INTRODUCTION TO GLOBAL ECONOMICS
Before introducing ‘global’ subjects, especially where corporations, banks and governments are involved (and they always are); i like to begin with a quote from my 1979 college text, Management, ‘…The term multinational firm did not appear in any dictionary until the 1970s…’ Just before this period, President Kennedy was the first president that appeared in televised debates; Johnson was the first to be sworn in behind a bullet proof enclosure and by a women; and to supposedly the first to wear a business suit to his inauguration. Nixon was the first to attend a manned space launch and the first to visit Communist China (1972) about 24 years before Walmart China (1996) began.
From the preface and the previous paragraph it can be seen how quickly technology has progressed, and the fact that we have moved into a global society in which most individual nations are greatly influenced and affected by many great nations.
The word ‘economics’ comes from two Greek words, ‘house’+ ‘management;’ or household management. The subject of economics as wealth was originally merged into other Greeks disciplines including Ethics. And thus, even during the so called middle ages, Thomas Aquinas spoke of moral obligations by merchants to sell at fair prices. And before both of these periods, the Jews were commanded by the Lord through Moses and the prophets, ‘you shall not charge interest on loans to your brother (Deut. 23:19).’
Thus when the Jews ‘cried …let us get grain, that we may eat and live;’ and others said, ‘we are mortgaging our fields and houses to get grain because of the famine’ and grain shortage; and some were put into ‘slavery’ and others lost or were losing their property and lives and said are we not ‘the same flesh and blood as our fellow Jews,’ and Nehemiah said, “When I heard their outcry and these charges, I was very angry… and told the nobles and officials, ‘You are charging your own people usury (interest)!’ And I called together a great assembly against them and said, ‘…We have bought back our brethren the Jews, which were sold to the Gentiles in slavery. And now you are selling your own brothers that they may be sold to us?’ And they could not answer righteously. So I said, ‘What you are doing is not right! Should you not walk in the fear of our God’…(Neh. 5:2-9)”
So we see ethics and morals and politics and even religion effects economics. However, although the more modern political economy as a subject was discussed in colleges during the time Adam Smith wrote Wealth of Nations, Economics was not an individual college disciple. In 1862, legislation passed that gave states public lands if they would sell them to establish at least one college in the state. In my state, Louisiana State University Agricultural & Mechanical College was established by an act of the state legislature in 1874, to carry out the U.S. Morrill Act of 1862, granting lands for colleges. By the 1890s politicians and educators wanted to make it easier for young adults to gain an education.
Additionally, after the period of Civil War reconstruction and during a time of industrialization and seeing the 19th century approach, and in a time of religious revivals, the Second Morrill Act of 1890 was passed stating that any state that used 1862 funds entirely for the education of white students was forced to open their facilities to black students or to provide separate facilities for them. Well many many have been revived but the were not ready for second generation free blacks to enter their universities – thus Negro colleges. However, some states had already seen to it; in Louisiana, a former Governor P. B. Pinchback, whose mother was a quarter African, and certain ‘Negro’ political leaders moved the legislature to fund a higher education college ‘for the education of persons of color.’ Thus, Southern College (S. Uni.) begin in 1881 with a dozen students.
For decades colleges where established and offered traditional courses. In 1944, the G.I. Bill passed and double university/college enrollments; within three years, about half of all college students were veterans from WWII. At that time, the term economics was then associated with ‘Home Economics’ or ‘Family and Consumer Sciences’ and prepared students for homemaking and general careers. And for decades, even a Economics progressed as a discipline, it fail under ‘Social Sciences,’ as did Political Science, Ethics, Geography, Sociology and Psychology. It was not a Natural Science, and certainly not in the Arts, and did not fail under Mathematics, Engineering, Law or Business; yet, all those things would come to be discussed in Economics. Nevertheless, because Social Sciences are concerned with society and Science – (science actually comes from a Greek word meaning knowledge) – and economics is said to be ‘the science which studies human behavior as a relationship between given ends and scare means which have alternative uses (Lionel Robbins),’ i graduated in 1986 with a major in Economics with a Bachelor of Science degree.
My 1982 text, Economics, states ‘Economics is a science concerned with choosing among alternatives involving scarce resources.’ Thus, supply, demand, production, costs, labor, land, assets, liabilities, capital, wages, interest, profits, overhead costs, laws, taxes, etc. and how the all related to each other directly and indirectly came into play. And markets and industry and elastic and inelastic goods all became significantly important. And just as quick as music media and technology was advancing, faster than professors could produced new textbooks, industries and plants and the entities that borrowed from the growing banks and selling stocks to the growing population were becoming ‘multinational’ and ‘international’ and ‘global’ concerns.
Now IBM was operating in Nazi, Germany for their profits during the War, and companies like Consolidated Silesian Steel used Nazi slave labor from concentration camps whiles its holding companies (BBH/UBC owed and or under ‘directorship’ of men like Prescott Bush (George’s father); and Rockefeller’s Standard oil of NJ sold $ 20 million in aviation fuel an American subsidiary called American I.G. which sold fuel to German companies, and so on and so on goes global economics.
So after the war the United Nations was formed and the great powers that be which toppled the Ottoman Empire and forced Hapsburgs to concede lands, also brought forth new and independent nations. As a matter of fact, most Constitutions of the 193 countries that are a part of the UN, are post-WWII constitutions. Yet, for the most part it was not until the late 1980s that global markets and economics would really change. Reagan and Gorbachev had their Glasnost ‘openness’ peace talks, and SALT talks and demilitarization agreements; and in 1989 the Berlin wall came down.
And by 1990 the Central Banks and Multinational Corporations were all learning how to say ‘billions,’ as opposed to ‘multi-millions;’ and all this just five or ten years before the Dot.coms would come on the scene, which was about the time Walmart was putting small local family business out of business, but before the time large corporations would use ‘do not call lists’ and online quotes to put a great many small leaders and self-employed salesmen out of work; and all of these before Obamacare or the Affordable Care Act, which has truly helped thousands of families, but cost jobs to the brokers of and many employees at United Health Care – the nations largest insurer – which January 2016, changed its commission to brokers to 0% on individual health policies and which in January 2017, is likely to take itself off the Marketplace exchange, all other things constant – yet, they rarely are.
CHAPTER TWO: AN EXAMPLE OF ANIMAL ECONOMICS
From the continent of Zambia, we found 5 tribes in the southern region of which we have learned of their history and ways; and we visit this scenario during a time with moderate drought conditions: The tribes are called: Vervet Monkey; Chacma Baboon; Blue Wildebeest; Spotted Hyena; and Leopard.
The Wildebeest tribe are poor and only a very small percentage of them care about higher education. They survive because they populate in large numbers and because their servitude or at least existence serves a purposes for other dominant tribes; and so their survival is not threatened. However, though they are surrounded by numerous resources, even in their very country, and though vastly out number the Hyena and Leopard tribes, they yield there resources and even lose many in their clans due to the superior military of the Hyena and Leopard tribes, as well due to the aggressive nature and greed of the Hyena and Leopard tribes. Because of various streams of conflicts and war, and the fact that Corporations from the Baboon, Hyena and Leopard tribes have bribed or coerced their governments, many of their precious lands and resources, even their water supplies, are regulated by the dominant tribes and their various clans, so their country is at constant threat and many wildebeest will migrate long distances hoping to be aloud resources in more liberal or generous countries, perhaps those of the Vervet Monkey or Chacma Baboon tribes.
The Vervet Monkey Tribe also has a very large population and is common to the continent. Most work in the agriculture business, especially with fruits, flowers, vegetable and grain crops. However, many want other opportunities for themselves and their offspring, both occupationally and educationally; thus, as they can afford it or when they become labor servants to various zoo corporations, they will be found on other continents. Many in the various zoo corporations are very caring towards the Vervet, but most are there for their incomes to provide for their families. A few must answer to the stockholders and owners and governments and, many of these are CEOs and professionals that get extra benefits when things are running smoothly, so many of these forget or care not for the desires of the Vervet to rise to the top of the corporate ladder and be given the same benefits. And just in case the Vervet would decide to rise up and rebel, there numbers are monitored and they are primarily kept to lower class neighborhoods.
Also, the Vervet have an alliance with the wildebeest, but they are dominated by the Leopard tribe, and the Baboons. They also avoid relations with the Hyenas, but they typical do not come across each other. They will shared reasons with the Baboons – God given resources that are both plentiful and scarce; but the Baboons have an aggressive nature, and will simple kill and take from the Vervet, when resources fall below what the need. And some sick members of all the tribes will kill each other and other strangers just for fun or evil. Also, for competitive gain some clans of the Vervet will acquire businesses from other clans and even destroy a competitor’s food or resource source, after it has taken what it could. This has caused some to be displaced and others to immigrate.
The Baboon Tribe is from the Old World Monkey family, and they are not only are healthier and more physically advantaged than the Vervet, they also have purchased and inherited better lands than the Vervet. They seem to have better longevity, better medical access and because the possess more assets, they can afford not only there various deductibles, but more luxurious homes and vehicles and better transportation. Because they can afford better schools and live among a higher class; it is natural and mostly innocent that their children marry among each others clans.
Nevertheless, even among themselves, their various clans, or troops as they prefer, they establish a dominance hierarchy. In this hierarchy or ranking system, during the time of their Old World Monkey family, many were called Dukes and Duchesses and Counts and Countesses. And although these families and troops were known to was married among these other, many did and still do compete for the limited lands and resources and even for better mates – according to their desire of better.
Some of the Baboon, as some of the Vervet tribe are homosexuals. Although, the active percentage is small; it is typically accepted across the populace. Now, back to their hierarchy, the richer males have the highest reproductive success and typically due to increased female acquisition. The female baboon benefits also; because she will have a better surrounding, mortal respect and surviving offspring. The lower class or ranking troops are forces to live along the regions borders or in more violent residential zones or in zones closer to the local or state industries and the common and hazardous waste stacks and dumping sites.
For all the aforementioned reasons, many of their children are violent. When they can’t find a Vervet tribesman to abuse, they often fight among and kill each other. Many from their lower hierarchy are depressed which leads to higher crime (mostly among their own piers and even girl and boy friends) higher drug use and sells, and higher incarceration rates. Ironically, many upper class members benefit by running the incarceration systems, or selling their resources to the governments and institutions directly; and at higher profit than if they sold to private citizens or business. More so, they have a inelastic demand for there products; for their depression medicine that most of the prisoners and much of the lower classes take; as well as the food, building contracts, materials, energy products and wiring, etc. that goes into the building and operation of the facilities. And no only is the prisoner taken out of the labor force, they cost the annual after tax salary of almost two other worker, thus the salaries of 3 Baboon are loss to benefit other needs of the society.
And not only do the higher hierarchy benefit from legal drugs, they benefit from illegal drugs. They sell to the police and military forces that serve and protect; and their banks, especially their central banks, profit off of the money laundered.
Typically, some members of the Hyena tribes farm these illegal drugs and transport them to the Baboons in all manners of ways and imaginations. Never the less, some of these Jackal types avoid being caught or arrested. As there group or cartel gets stronger, the bribe and coerce law enforce officers and even politicians. They gain so much money and resources that they are able to form corporations and build and buy legal lands and businesses; and through these they pass under the radar of homeland security, there trades are missed by FINRA, the SEC, Bank regulators and Financial Action Task Forces. Through the anti-money regulations provide a net; it is estimated that 5% of all global assets pass through to offshore banks, churn in financial institutions, are used to buy other business and homes, and thus, the upper hierarchy still benefits.
There are reports that some young Baboons are killed by others than have immigrated among them, it is rare. Also, there are signs of hope among; though war and conflicts and life choices have left many orphans, it appears that most orphans are being taking in by families; whether through adoption or other programs.
The Leopard Tribe, though very strong, have many obstacles. Many of their clans have been subjected to habitat fragmentation. Though they would prefer to enjoy their homes and towns, many have been force to move. Some do to the drought and problems with their environment, and others due to land conversion where in a certain class among them has limited access to certain areas under a sustainable development and protection program. Yet, ironically, a few in the upper ranks already development subdivisions in the area; and some have their farmlands protected.
As many of the Leopard clans look for other opportunities or migrate they run into conflicts. Some have to compete for limited resources, some find themselves among a particular Hyena clan, which are very aggressive towards them. Another problem among the Leopards is that the male often will not provide parental care or guidance to his offspring; often abandoning the home. Ironically, putting both the wandering male father and the young at more risk in an already volatile world.
If we search closely, we will notice similar traits that our own tribes and nations exhibit.
CHAPTER THREE: GOVERNMENT(s) STRUCTURE(s), TAXES, and MORALS
Back to the real world of humans, in which most are just as competitive and some just as dangerous.
CHAPTER FOUR: RISK, REWARD, OWNERS, EMPLOYEES, and ETHICS
Unjust Enrichment.
People in World: 7 billion 2016
Families in World: ?
Money: based on 100+ Trillion
1,000 x 100,000,000,000 a trillion
1,000 x 100,000,000 a billion
100,000,000,000,000 / 7,400,000,000 = $ 13,500 per person
Waltons: $ 100 billion = 7,400 average persons as units (not by age or country)
More accurate to look at Median Wealth per adult – Mean Debt = Real Wealth per adult
2013: $ 113.4 Trillion
CHAPTER FIVE: THE CENTRAL BANKS
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CHAPTER SIX: POLITICIANS, LOBBYIST and BOD
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CHAPTER SEVEN: RELIGION, LAWS and LOOPHOLES
Polaroid example
Environment, EPA, etc.
CHAPTER EIGHT: CONVENING POWERS
Trilateral, Bilderburg, etc
CHAPTER NINE: STATISTICS
2013 International Trade Statistics Yearbook, Vol. II (United Nations; 2014):
International Merchandise Trade Statistics, Concepts and Definitions 2010 (IMTS) Concepts and definitions are:
i. Coverage: As a general guideline, it is recommended that international merchandise trade statistics record all goods which add to or subtract from the stock of material resources of a country by entering (imports) or leaving (exports) its economic
territory.
Valuation: The market price is used as the basis for valuation of
transactions in international trade in services. Market prices for transactions are defined as amounts of money that willing buyers pay to acquire something from willing sellers.
The exchanges are made between independent parties and based on commercial considerations only and are sometimes called “at arm’s length” transactions.
The data in the commodity profiles in part 2 (commodity trade profiles) and the service trade profiles in part 3 of the publication are obtained from data directly submitted by countries to the United Nations Statistics Division (UNSD). All data published in the country profiles is available in UN Comtrade (http://comtrade.un.org) and UN ServiceTrade (http://unstats.un.org/unsd/servicetrade). In some cases, original countries data are received via international and regional partner organizations, such as the Organization for Economic Co-operation and Development (OECD),
the Food and Agriculture Organization of the United Nations (FAO), the International Monetary Fund (IMF), the International Trade Centre (ITC), the Caribbean Community (CARICOM)
Secretariat, the Common Market of Eastern and Southern Africa (COMESA), the Economic Community of West African States (ECOWAS) and the UN regional commissions such as the
Economic Commission for Latin America and the Caribbean (ECLAC) and the Economic and Social Commission for Western Asia (ESCWA). Data for the European Union (EU-28) is received from the Statistical Office of the European Union (Eurostat).
WORLD:
IMPORTS = 2000, $ 6.52 Trillion; 2013, $ 18.4 Trillion
EXPORTS = 2000, $ 6.37 Trillion; 2013, $ 18.5 Trillion
Developed Countries: 2013
Imports: $ 9.87 Trillion; Exports: $ 9.2 Trillion = – $ 670 Billion
EUROPE 2013: Imports $ 5.96 Trillion; Exports $ 6.15 Trillion = $ 192 Billion
JAPAN 2013: Imports $ 832 Billion; Exports $ 714 Billion = – $ 118 Billion
CHINA: 2000: Exports $ 249 B; 2013: Imports: $ 1.95 Trillion; Exp: $ 2.2 Trillion
RUSSIA: 2013: Imports $ 315 Billion; Exports $ 527 Billion = $ 212 Billion
INDIA: 2013: Imports $ 466 Billion; Exports $ 315 Billion = – $ 151 Billion
SAUDI ARABIA: 2013: Imports $ 164 B; Exports $ 376 Billion = $ 212 Billion
United ARAB Emirates: 2013: Imp. $ 245 B; Exp. $ 365 B = $ 120 Billion
KUWAIT: 2013: Imports $ 29 Billion; Exports $ 113 Billion = $ 83 Billion
AFRICA: ?
SOUTH AMERICA:
LATIN AMERICA: 2013: Imports $ 1.06 T; Exports $ 1.06 Trillion
Germany 2013: Imports $ 1.19 Trillion; Exports $ 1.45 Trillion = $ 262 Billion
United Kingdom 2013: Imports $ 645 Billion; Exports $ 477 B = – $ 168 Billion
MEXICO: 2013: Imports $ 381 Billion; Exports $ 380 Billion = – $ 1 B
Greece: 2013: Imports $ 62 Billion; Exports $ 36 Billion = – $ 26 Billion
Spain: 2013: Imports $ 334 Billion; Exports $ 311 Billion = – $ 23 Billion
Egypt: 2013: Imports $ 60 Billion; Exports $ 28 Billion = – $ 31 Billion
Switzerland: 2013: Imports $ 192 B; Exports $ 217 Billion = $ 23 Billion
APEC: 2013: Imports $ 9.2 Trillion; Exports $ 8.86 T = – $ 342 Billion
NAFTA: 2013: Imports $ 3.2 Trillion; Exports $ 2.4 T = – $ 755 Billion
OECD: 2013: Imports $ 1.11 Trillion; Exports $ 1.04 T = – $ 716 Billion
OPEC: 2013: Imports $ 799 Billion; Exports $ 1.56 Trillion = $ 764 Billion
United States 2013: Imports $ 2.33 Trillion; Exports $ 1.58 Tr = – $ 750 Billion
2009 – 2013 (5 years; Obama) U.S. Trade Balance Total Loss = – $ 3.564 Trillion
2006 – 2008 (4 years; Clinton/Bush) = – $ 4 Trillion
US Trade imbalance total for the last 10 years approximately: $ 7.7 Trillion
2016 U.S. National Debt: $ 19.3 Trillion ($ 59,000 per person; over $ 160k per taxpayer)
First Understand until WWII (which cost us $ 300 billion + interest, the US had almost a zero National Debt.; and it was relatively flat until 1958 (a few years after the first annual Bilderburg meeting) but still remained relatively flat until about 1966 when it very very slowly at a slight inclined upward until 1980 and Reagan Administration and Supply-side economics and reduced tax rates for the super rich and everyone; but 10% drop in tax is not the same for everyone: If you are making $ 100K and get truly taxed 30% and had a 10% drop = $ 20K in taxes (keep + $ 10 K); if you are making $ 10 Million and get the same 10% drop from 30% (keep + $ 1 Million); and this was not the case; because rates on the Super rich after every war since the Civil War was from 70+% to 94%; in 1946 the portion of income over $ 200,000 (amount $ 2.5 million in terms of 2016 dollars) was 91% – and now we simply don’t pay for our wars.
US National Debt: 1946: $ 271 Billion; 1956 $ 273 B; 1966 $ 320 B; 1973 Nixon agreed to go off Gold Standard and soon opens up trade to China on a whole new level, $ 458B; 1976 $ 620 B; 1982 hit the Trillion mark; 1986 Reagan lowers tax rates $ 2.1 Trillion; 1993 Clinton passes Omnibus Budget Reconciliation Act $4.4T; 1996 $ 5.2 T; 2000 $ 5.7 T; 2001 9/11 attacks and Bush Tax cuts $ 5.8; next four years war cost taxpayers about $ 200 Billion (did not go into a void; Corp and Banks and Oil Co got really rich, as a matter of fact in one year the profits from the top 5 Oil Giants alone = all the assets of Exxon at year); 2006 $ 8.5 B (plus Katrina – $ 25B and more war on terror – $ 120B and Ben Bernanke, a Bilderburg boy become big boy – Fed. Chair); 2008 $ 10 T (Bank Bailout – $ 350 B + another $ 200 B war cost; or you upset yet; i could just about curse and we are just halfway there to current debt and soon the Central Banks / Bilderburg / Club of Rome / Demon’s golden plan – to get rich and topple the greatest government that ever was blessed by God; how – defaults leads to one of two things: debtors prison, i.e. – give up sovereign voluntary by contract – maybe even a seven year peace agreement but i doubt it; or WWIII – and 42 months of world wide persecution during or afterwards by Antichrist, either way giving up sovereign involuntary – but rest at ease for now, because the Temple must come first); 2010, $ 13T June $ 14T Dec; 2011 (Stimulus Act) $ 15 T by Nov.; 2012 Obama extends Bush tax cuts, $ 16T; 2014, $ 18 T by Dec. (Fed uses ‘Quantitative Easing’ policy to expand open market operations of central banks by $ 2.5 T to add liquidity to the already RICH WALL STREET CORPORATIONS and their beloved markets; thus, increasing money supply, which they get a % of; thus, loaning to bank reserves to buy the securities – WITHOUT CONGRESS APPROVAL TO PRINT MONEY because it does not need to be printed – it is ELECTRONIC MONEY – just give CHINA $ 4 Trillion electronically, take another $ 1 Trillion for their share of the wars and simply subtract $ 5 T from our Electronic Deficit and tell anyone that does not like it; do some about it and see if we don’t take Israel’s approach).
US Increase in National Debt last 10 years approx. $ 11 T; the 10 years before that: about $ 3.3 T; the 10 years before that: $ 3.1 T; the 20 years before that: $ 1.9 T; the 20 years before that $ 50 Billion; the year before WWII began in Poland (1939) 1938 – National Debt = $ 37 Billion; 1912 before Federal Reserve (1913) $ 100 Million; 1790 = $ 52 Million, thus 123 years increased less than $ 50 million until the Federal Reserve and Income Taxes and the creation of the Super Wealthy Elite classes in the US.
US Estimated 2016 Revenue (midyear): $ 3.34 Trillion; Spending: $ 3.85 Trillion
US Annual Budget Deficit: $ 500 Billion ($ 1/2 Trillion)
Money Supply (M2) 2000: $ 4.8 Trillion; 2016 $ 12.8 Trillion (+ > 165%)
DERIVATIVES 2000: $ 90 Trillion; 2016 over $ 440 Trillion (almost + 400%)
US Total Assets 2016: Estimated over $ 120 Trillion (34 Trillion in Corp.)
US Mortgage Debts 2016: approx. $ 14 Trillion + $ 17.6 Trillion in Personal Debt
US Credit Card Debt 2016: about $ 1 Trillion
US Student Loan Debt 2016: about $ 1.4 Trillion
US TOTAL DEBT 2016: $ 65 Trillion or about $ 800,000 per family
US Unfunded Future Liabilities: over $ 100 Trillion
US 2016 estimated Gold Reserves: about $ 8.5 T
GOLD in the world about 150,000 to 175,000 tonnes
CHAPTER TEN: CONCLUSIONS
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The TRUTH SOURCE 