National Debt

I found out yesterday, that we "the public" only owe 10.4+ trillion (video is slightly old) of the 15.2+ trillion dollar national debt. The government owes the rest. Now doesn't that make you feel a lot better!


Now you know how much you owe, let see how well the FED is keeping track of that money.

alan-grayson_1 alan-grayson_2
Alan Grayson: Asking Donald Kohn, of the FED who gets the money? [1:30]
Alan Grayson: Is Anyone Minding the Store at the FED?

OH, and by the way, do you remember the 2.3 trillion dollars the Pentagon lost in 2001 (I think it is on a yearly basis now)?  Click on Donald Rumsfeld to see how they made it disappear... I think it was an airplane.


To put everything in perspective here is Glen Beck, I don't usually watch his show, but I thought the video illustrated our national debt in a very understandable way:


And here is how the stimulus money was distributed.

(I made a side-show of the web site here. )

OK, Let Me See If I Understand This "National Debt" Issue Correctly!

First watch Bloomberg's video:


We all thought we were bailing out Wall Street with the TARP (Troubled Asset Recovery Program) program which was highlighted in the media as $800 Billion dollars Treasury debt.  Which was going to straddle our children with a greatly increased national debt for years.

Then we find out that the FED, who is not part of our government, lent out an additional $7.7 Trillion dollars in our name (we are on the hook for this money).


Then they gave the Treasury more money.


Then they gave the banks more money.


Which totals to.


So this is the difference in what I perceived the American people owed as a national debt and what the FED, a private institution, perceives we owe.


What is even weirder is Bloomberg had to sue the FED to get this information

Bloomberg News Files 'Extraordinary Lawsuit' To Crack Fed Secrecy Around Bank Bailout:


and won.


But, the FED was unwilling to give up the information, so they appealed, with the help of their friends at The Clearing House. Anything look suspicious?


The Clearing House Payments Company L.L.C. is owned by the following banks:
Bank of America, N.A.
The Bank of New York Mellon
Branch Banking and Trust Company
Capital One
Citibank, N.A.
City National Bank
Comerica Bank
Deutsche Bank Trust Company Americas
Fifth Third Bank
First Citizens Bank & Trust Company
JPMorgan Chase Bank, N.A.
KeyBank, N.A.
Manufacturers and Traders Trust Company
PNC Bank, N.A.
RBS Citizens, N.A.
Union Bank
U.S. Bank, N.A.
Wells Fargo Bank, N.A.

And the spending continues with no end in site:

Our government is powerless to stop it. It is the few Elites in control of the wealthiest banks in the world that are in control.  You might also want to see the FED menu and the Money, Power & Greed (Banks) menu..

Now go back to Overview on the Introductory (Home) page.


Bloomberg did a complete overview of what went into the "Wall Street" Bail-out. These are very good and informative videos.

bloomberg bloomberg

Note: these videos are from Bloombergs own web site, so please use the scroll bars to re-position their video player.  Usually about 1/2 to 1 inch from the top, and it looks like the first video need to be centered.

Additional Info:

Did you ever want to see the General Ledger for the United States?  Well here it is:  US General Ledger. The numbers for the table above are about a quarter of the way down on the second page.  How about the Consolidated BS of public debt 2011? Here it is: Consolidated BS of Public Debt-2011.  Here is the "Debt Position and Activity Report" giving more detail.

04.25.2011. 09:01

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