We love celebrating Independence Day and yet we are deeply enslaved to debt. We like to think of ourselves as “free” and yet we have rolled up the biggest pile of debt the world has ever seen. The people that we have borrowed all of this money from expect to be paid. Sadly, instead of addressing the problem, we have been loading more debt on to the backs of future generations with each passing year. What we are doing to our kids and our grandkids is so immoral that is almost defies description.
At the heart of this debt-based system stands the Federal Reserve. It is a perpetual debt machine that was designed to trap the U.S. government and the whole World in a spiral of debt permanently. Today, the U.S. national debt is 4700 times larger than it was when the Federal Reserve was created back in 1913. This year alone, we will add more to the national debt than we did from the presidency of George Washington to the beginning of the presidency of Ronald Reagan. So yes, enjoy the hotdogs and the fireworks, but also remember that we will never be free as long as this constantly expanding debt problem is hanging over our heads.
So is there any solution to this problem?
Not under the current system.
The debt-based Federal Reserve system is designed to expand government debt indefinitely. But of course all debt bubbles burst eventually and we are rapidly reaching that point.
So what should we do?
We need to abandon our current debt-based financial system. The way that our current system normally works, whenever more money is created more debt is also created. Such a system is inevitably doomed to fail.
We need to transition to an entirely new system that has nothing to do with the Federal Reserve or Federal Reserve notes. We need an entirely new system where the money is not based on debt.
But even though more North Americans than ever are awake to the flaws in our monetary system, the truth is that neither major political party is remotely ready to even consider an end to the current financial system.
Many political parties believe that if we can just cut government spending enough we can solve the problem. Many others believe that if we can just “raise enough revenue” we can solve the problem.
Neither of those solutions will work.
Many conservatives are so frustrated with the whole thing that they just want Congress to refuse to raise the debt ceiling. If interest rates were to start rising as a result of a debt default, interest on the national debt would likely double or even triple.
Look, if we want to come anywhere close to balancing the budget under our current system, it will be a whole lot easier to do if we are spending 400 billion dollars on interest on the national debt rather than 1.2 trillion dollars.
The reality is that we have “government debt problems” from coast to coast.
How can we claim that our country is free when we are enslaved to such horrible debt burdens?
The borrower is always a servant of the lender. As a nation, we are becoming a little bit less independent every single day.
So enjoy celebrating Independence Day while you still can.
If we continue on the path that we are currently on, nobody is going to be celebrating much of anything in the future.









