“Why so much Debt?” by Doug Duff – 12.24.23

Entry Submitted by Doug Duff at 10:17 AM ET on December 24, 2023

On or about the 5^th of December, 2023, Judy Byington asked: “Judy Note: My question is, just who do we owe the National Debt to? No one will answer that one.”

I can answer that one very quickly: In the Circular named “Public Debt: Private Asset” published by the Federal Reserve Bank of Chicago in January, 1999, you will find on page 4, “Debt as an asset” these words, “…to a customer a savings account at a bank is an asset. However, to the bank it is a debt.”  (May be downloaded at: https://docplayer.net/27063701-Public-debt-private-asset.html )

Then, further down on that page you’ll find, “Debt, then, is considered an asset of the creditor, and a claim against the assets and earnings of the debtor. In terms of the national debt, every dollar of the government’s debt is someone’s asset.”

There, that’s the answer to THAT question. The question she (all of us) should be asking is, WHY is there so much national debt? Let me take a stab at that one.

You see, way back in 1933 an evil “movement” decreed that a “person” could not own nor hold gold. Every “person” had to turn in his/her gold to the gubm’t. Under threat of imprisonment (vi et armis) everyone did just that. A few people hid their gold.

Since that time no DEBT has been paid. All debts became “annulled, dismissed, discharged, or dispatched”, not paid. (See definitions below) The debt, being dismissed, etc., remained and was pushed into the future. Thus, all “payments” for goods, services, necessities, luxuries, etc., were not paid for. The debt for them still remains (because the gubm’t said, “we’ll handle the Ticket”).

If you paid for those goods with gold or silver coin (or, paper backed by those coins) the debt would have been PAID, not discharged. So, with each purchase of anything the national debt kept growing (by the amount you just, allegedly, paid). Let me explain. If you buy a loaf of bread and a gallon of milk using USD ($) and it cost $10, you’ve just pushed the national debt UP by $10. That’s right. [I might add that the USD is Private Script, which you do not have a license to use, and you are taxed as a fee for its use.]

Have you ever asked, “Who owes all that money?” The Uniform Commercial Code answers that question. UCC § 9-307. LOCATION OF DEBTOR (h) [Location of United States.] The United States is located in the District of Columbia. Now, remember that Debt and D***h (under the law) mean the same thing.

an·nul To make or declare void or invalid, as a marriage or a law; nullify. 2. To obliterate the effect or existence of:

dis·an·nul To annul or cancel. (Hmmm, same as annul.)

dis·miss Law. To put (a claim or action) out of court without further hearing. To end the employment or service of; discharge.

dis·charge Law. To set aside; annul: discharge a court order.

dis·patchLaw. To put to d***h summarily. The act of putting to d***h.

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