THE REAL QUESTION ABOUT THE DEBT CEILING!

Our story starts with Benjamin Franklin; self-made man, publisher, author, and inventor, who was world famous for his proof that lightning is just static electricity. He was the star celebrity of the world of his age and doors to the rich and powerful were always open to him, as having the eminent Franklin at ones social soiree was quite prestigious, even for a King! So it was inevitable that as the American colonies started to organize their own government, that Ben Franklin was appointed in 1757 as Pennsylvania ambassador to the Court of Saint James, then presided over by King George III.

Click for larger While in London, Ben Franklin witnessed first hand the extreme poverty of the ordinary British subject, later immortalized in literature by Charles Dickens.

Click for larger When the King's Court asked Ben Franklin how the colonies dealt with their poor and unemployed, Franklin shocked them when he replied that the colonies simply did not have a great many poor and unemployed. At the time, the law in England required that everyone conduct all the commerce using bank notes from the then-privately owned Bank of England (Britain was forced to nationalize the bank following Bretton Woods and the decline of the British Pound as the global currency). The bank notes were loaned at interest so that the Bank of England grew richer and richer and the people poorer and poorer, no matter how hard they worked.
Ben Franklin pointed out that the colonies had wisely avoided this problem by simply issuing their own currency which circulated through commerce interest-free, that is to say without a portion of the profits of business and labor automatically going to the bankers via interest on those bank notes.
By means of this simple device of currency that did not charge interest while in circulation, there was always adequate currency in circulation to provide full employment, and the American colonists were prosperous to a high degree almost unimaginable to their brethren consigned to squalor and toil in England.
Needless to say, Franklin's comments ignited a fierce discussion among the British subjects as to why their own economy did not operate on what was clearly a better system for the people. This in turn infuriated the owners of the Bank of England who decided the American system of interest-free public currency needed to be destroyed. So the bankers prevailed upon King George III to issue the Currency act of 1764.
This act ordered the American colonies to thenceforth conduct all commerce ONLY using bank notes borrowed at interest from the Bank of England. And as a (desired) result, the ordinary people of the colonies were rapidly plunged into the same poverty and mass unemployment as the ordinary people of Britain, by being forced by their government into permanent and irrevocable debt to the private bankers.
Now, you probably were told in Public School that the American revolution was all about the Tea Tax and the Stamp Act, but in reality, it was the banker predations imposed by the Currency Act that fueled the anger that led to the Declaration of Independence and the American Revolution.

"The refusal of King George 3rd to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators, was probably the prime cause of the revolution." -- Benjamin Franklin, Founding Father

But bankers are nothing if not dedicated to their schemes to acquire your wealth, and know full well how easy it is to corrupt a nation's leaders. Just one year after Mayer Amschel Rothschild had uttered his infamous "Let me issue and control a nation's money and I care not who makes the laws", the bankers succeeded in setting up a new Private Central Bank called the First Bank of the United States, largely through the efforts of the Rothschild's chief US supporter, Alexander Hamilton. Founded in 1791, by the end of its twenty year charter the First Bank of the United States had almost ruined the nation's economy, while enriching the bankers. Congress refused to renew the charter and signaled their intention to go back to a state issued value based currency on which the people paid no interest at all to any banker. This resulted in a threat from Nathan Mayer Rothschild against the US Government, "Either the application for renewal of the charter is granted, or the United States will find itself involved in a most disastrous war." Congress still refused to renew the charter for the First Bank of the United States, whereupon Nathan Mayer Rothschild railed, "Teach those impudent Americans a lesson! Bring them back to colonial status!" The British Prime Minister at the time, Spencer Perceval was adamantly opposed to war with the United States, primarily because the majority of England's military might was occupied with the ongoing Napoleonic wars. Spencer Perceval was concerned that Britain might not prevail in a new American war, a concern shared by many in the British government. Then, Spencer Perceval was assassinated (the only British Prime Minister to be assassinated in office) and replaced by Robert Banks Jenkinson, the 2nd Earl of Liverpool, who was fully supportive of a war to recapture the colonies. Financed at virtually no interest by the Rothschild controlled Bank of England, Britain then provoked the war of 1812 to recolonize the United States and force them back into the slavery of the Bank of England, or to plunge the United States into so much debt they would be forced to accept a new private central bank. And the plan worked. Even though the War of 1812 was won by the United States, Congress was forced to grant a new charter for yet another private bank issuing the public currency as loans at interest, the Second Bank of the United States. Once again, private bankers were in control of the nation's money supply and cared not who made the laws or how many British and American soldiers had to die for it.
Once again the nation was plunged into debt, unemployment, and poverty by the predations of the private central bank, and in 1832 Andrew Jackson successfully campaigned for his second term as President under the slogan, "Jackson And No Bank!" True to his word, Jackson succeeds in blocking the renewal of the charter for the Second Bank of the United States.

"Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I will rout you out!" -- Andrew Jackson, shortly before ending the charter of the Second Bank of the United States. From the original minutes of the Philadelphia committee of citizens sent to meet with President Jackson (February 1834), according to Andrew Jackson and the Bank of the United States (1928) by Stan V. Henkels

Shortly after President Jackson (the only American President to actually pay off the National Debt) ended the Second Bank of the United States, there was an attempted assassination which failed when both pistols used by the assassin, Richard Lawrence, failed to fire. Lawrence later said that with Jackson dead, "Money would be more plenty."
Finally, in 1913, the Private Central Bankers of Europe, in particular the Rothschilds of Great Britain and the Warburgs of Germany, met with their American financial collaborators on Jekyll Island, Georgia to form a new banking cartel with the express purpose of forming the Third Bank of the United States, with the aim of placing complete control of the United States money supply once again under the control of private bankers. Owing to hostility over the previous banks, the name was changed to "The Federal Reserve" in order to grant the new bank a quasi-governmental image, but in fact it is a privately owned bank, no more "Federal" than Federal Express. Indeed, in 2012, the Federal Reserve attempted to rebuff a Freedom of Information Lawsuit by Bloomberg News on the grounds that as a private banking corporation and not actually a part of the government, the Freedom of Information Act did not apply to the "trade secret" operations of the Federal Reserve. 1913 proved to be a transformative year for the nation's economy, first with the passage of the 16th "income tax" Amendment and the false claim that it had been ratified.

"I think if you were to go back and and try to find and review the ratification of the 16th amendment, which was the internal revenue, the income tax, I think if you went back and examined that carefully, you would find that a sufficient number of states never ratified that amendment." - U.S. District Court Judge James C. Fox, Sullivan Vs. United States, 2003.

Later that same year, and apparently unwilling to risk another questionable amendment, Congress passed the Federal Reserve Act over Christmas holiday 1913, while members of Congress opposed to the measure were at home. This was a very underhanded deal, as the Constitution explicitly vests Congress with the authority to issue the public currency, does not authorize its delegation, and thus should have required a new Amendment to transfer that authority to a private bank. But pass it Congress did, and President Woodrow Wilson signed it as he promised the bankers he would in exchange for generous campaign contributions. Wilson later regretted that decision.

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men." -- Woodrow Wilson 1919

It was at this time that public schools in the United States shifted the history of the American Revolution away from the Currency act, lest some sharp student ask why the nation was now back under the exact same form of banking that revolution had been fought to free us from.
As President, John F. Kennedy understood the predatory nature of private central banking. He understood why Andrew Jackson fought so hard to end the Second Bank of the United States. So Kennedy ordered the US Treasury to issue a new public currency, the United States Note.

Click for larger Kennedy's United States Notes were not borrowed form the Federal Reserve but created by the US Government and backed by the silver stockpiles held by the US Government. It represented a return to the system of economics the United States had been founded on, and was perfectly legal for Kennedy to do. All told, some four and one half billion dollars went into public circulation, eroding interest payments to the Federal Reserve and loosening their control over the nation's money supply. Five months later John F. Kennedy was assassinated in Dallas Texas, and the United States Notes pulled from circulation and destroyed (except for samples held by collectors). John J. McCloy, President of the Chase Manhattan Bank, and President of the World Bank, was named to the Warren Commission, presumably to make certain the banking dimensions behind the assassination were concealed from the public.
Now we are once again hearing the politicians in Washington DC wail and moan about the need to raise the government's debt ceiling. The debate is framed by the servile corporate media as whether we should or should not, because the really important question Americans need to ask is why the government is in such debt to begin with. And the answer (which the federal Reserve hopes you never realize) is really quite simple. When you have a privately-owned central bank issuing the nation's currency as a loan at interest, by design the debt always exceeds the available money supply. There is no way to ever pay the debt off, which is why the whole system is a trap. The moment that first pretty printed piece of paper was loaned into circulation..
... more money is owed to that bank than is actually in existence. It doesn't matter how hard the people work, how much they pay in taxes, or how much they sacrifice, they can never get out of that debt ... as long as they play by the rules the private central banks created, like the money itself, out of thin air.
So, as this debate about raising the debt ceiling starts up again, remember that the reason the corporate media is so focused on whether the debt ceiling should be raised or not, is because they don't want you thinking about why there is such a huge debt to begin with.
The question both government and the corporate media will never ask, and hope you do not ask, is why, when the Constitution authorizes the US Government to create and issue debt-free money, has the United States Government borrowed instantly-created money at interest from a privately-owned central bank and cursed you and your descendants with the out of control interest?
But that IS the question you need to ask yourself, your family and friends, indeed everyone you know.
Why, when the Constitution authorizes the US Government to create and issue debt-free money, has the United States Government borrowed instantly-created money at interest from a privately-owned central bank and cursed you and your descendants with the out of control interest, for the last 100 years?