TruthArchive.ai - Related Video Feed

The Department of Treasury is issuing record levels of debt, with $7 trillion issued in just 3 months and $23 trillion in a year. This has bloated the treasury market, raising concerns about a potential crash. The economy is propped up by debt, with federal debt rising by $1 trillion every 90 days. US treasuries are seen as cash but are actually promises to pay back in the future. The illusion that all debt will be repaid is crucial, as any doubts could lead to a financial system collapse. Fiscal trends are worsening, with a $2 trillion deficit that will increase during a recession. Collapse seems inevitable without intervention. Visit profsaintonj.com for more details.

The federal government is overspending, with deficits hitting record highs due to wars, welfare, and interest on debt. Tax revenue is not keeping up with spending, leading to a ballooning national debt. Interest payments on debt are consuming a large portion of tax revenue, making the situation unsustainable. The government shows no signs of cutting spending, leading to predictions of inflation, defaults, and debt crises in the future. This financial Ponzi scheme could end in disaster if not addressed soon.

Over the past two decades, the national debt in the United States has skyrocketed. In the year 2000, it was $5 trillion, but under Republican President George W. Bush and Democratic President Barack Obama, it doubled twice, reaching $20 trillion by the end of Obama's term. In the last six years, with both Republican and Democratic presidents, the debt has grown to $31.5 trillion. This level of spending is unsustainable and has led to inflation and rising costs for everyday items. The debt ceiling, which is coming up, has historically been used as leverage to force spending reforms. It is important to note that defaulting on the debt is not an option, as there is sufficient revenue to cover interest payments. The Republicans aim to use the debt ceiling as a tool for meaningful structural reforms to address the underlying problem. Joe Biden's refusal to negotiate is unreasonable, and the press should not simply repeat partisan talking points. Biden's recent State of the Union speech was disappointing, angry, and divisive. He failed to take responsibility for policy failures, such as inflation and the border crisis. The speech could have been an opportunity for Biden to reach out to the new Republican majority, but instead, he doubled down on failed policies. The removal or weakening of the blue slip, a senator's ability to influence judicial appointments in their state, would be detrimental to the institution of the Senate. The prediction that weakening the Senate's filibuster for judges would result in more conservative Supreme Court justices has proven true. Democrats were willing to prioritize partisan politics over the integrity of the Senate.

People with TDS or EDS will slander anyone, and the truth doesn't matter to them. During Obama's second term, the deficit increased by $3.5 trillion. Under Trump, the deficit increased by $7.8 trillion due to the pandemic, which cost $3.6 trillion. $1.9 trillion of that deficit came from tax cuts, which put money back into the American people's pockets. At the rate our deficit is increasing, our government and our country is on pace for economic collapse. Trump and Elon are trying to fix this. If we don't change something, the only thing our government will eventually be able to commit money to is servicing debt, meaning no federal employees are getting paid, no SNAP benefits, no food stamps, no section eight, no Social Security. Do not listen to these fearmongers.

Politicians promise more "free stuff," leading to deficit spending, where the government spends more than it earns. To cover this, the Treasury borrows money by issuing bonds, which are essentially IOUs. These Treasury bonds constitute the national debt, requiring repayment by current and future taxpayers through taxation. Therefore, issuing bonds allows the government to spend today by stealing prosperity from the future. The Treasury then conducts a bond auction involving the world's largest banks.

The national debt is projected to reach $144 trillion in 30 years, causing concern about its impact on the economy. The US federal government is on an unsustainable fiscal path as the debt grows faster than the economy. Borrowing from future generations is worrisome, and it's crucial to prioritize fiscal sustainability sooner rather than later. Two important factors for American prosperity are the dynamic and innovative economy, which sets it apart from other countries, and the role of the United States as the leading voice in supporting and defending democracy and security arrangements globally. Politics does not influence the Federal Reserve's decisions on timing, as incorporating politics could lead to worse economic outcomes. The Federal Reserve values integrity and plans to maintain it.

The US financial situation has some symptoms that are difficult to diagnose. Many believe the problem is high taxes, and while US taxes are indeed very high, that's not the core issue. The real problem is that even with high taxes, they aren't truly funding the government. Instead, the government is financed by treasury bonds, largely bought by the Federal Reserve. The Fed buys these by printing money, backed by the treasury bonds themselves. Essentially, the government is financed by printing money out of thin air. One might ask, if the government can print unlimited money, why collect taxes at all? The shocking answer is that high taxes exist to maintain the illusion that you are funding the government, which you are actually not.

There is $1.3 trillion in student loan debt, with $800 billion owed by taxpayers. The student loan program started by President Obama is seen as benefiting him, not the public. Critics believe it is a ploy to secure votes, even at the expense of non-college graduates. This could lead to forgiveness of loans for non-profit and Ivy League schools, impacting future elections.

A report reveals that only a small portion of the $7.5 trillion COVID spending actually went towards health, with the majority being used for handouts and special interest subsidies. Green projects, government-funded nonprofits, and bailouts for various sectors received a significant share of the funds. The military industrial complex also received a large sum, contributing to the national defense budget. This excessive spending has led to skyrocketing inflation, with roughly half of the existing dollars being freshly printed. The Federal Reserve's role in printing money to support the government's spending habits is concerning, as it perpetuates the deficit and debt. Without intervention, the deficit is projected to reach $50 trillion in seven years. The future looks uncertain, with little hope of Washington changing its spending habits.

We don't have any extra money to send to Ukraine, considering our massive deficit of over $1.5 trillion. Borrowing money from China to support Ukraine doesn't make sense. We don't have a rainy day fund with trillions of dollars just sitting around. Instead, we would have to borrow the money, which leads to inflation. Since Russia's war in Ukraine began, American taxpayers have already provided $113 billion to Ukraine. We have many issues in our own country that need attention before we borrow more money to fuel a war in another nation.

Scott and Mike Pence, both Republicans, voted to raise the debt, while Donald Trump added a staggering $8 trillion to our national debt. This is a burden our children will bear. Looking at the 2024 budget, Republicans requested $7.4 billion in earmarks, while Democrats asked for a mere $800 million. It's clear that the Republicans are the big spenders. We need an accountant in the White House to address this issue.

The US fiscal deficit is decoupling from unemployment, entering a new era where deficits remain high despite low unemployment. This matters because it impacts asset prices, especially scarce ones like gold and Bitcoin. Historically, gold prices correlated with real interest rates, but this relationship decoupled around 2022. Federal debt growth now consistently outpaces private sector debt growth, impairing the Fed's ability to control credit growth through interest rates. This fiscal train is unstoppable due to several factors. High debt levels combined with interest rates that can't go much lower are making interest expenses a meaningful part of the federal budget. The Social Security trust fund is projected to deplete, leading to increased spending. The fiat system relies on continuous debt growth, making deleveraging difficult. The system is like a Ponzi scheme that requires constant expansion. The US is repeating a pattern seen in the 1940s, switching to federal debt growth and large deficits. This is inflationary and persistent because raising interest rates exacerbates the deficit. This relentless deficit growth contrasts sharply with Bitcoin's scarcity and transparency, making it a valuable asset to own.

The speaker argues that US fiscal deficits are unstoppable due to a decoupling of unemployment and deficits since 2017. Historically, deficits rose during recessions and fell during economic booms, but now deficits remain high despite low unemployment. This matters because deficits impact asset prices, especially scarce ones like gold and Bitcoin. Real interest rates and gold prices have also decoupled, with gold soaring despite high interest rates, indicating a shift. Federal debt growth now consistently outpaces private sector debt growth, impairing the Fed's ability to control credit growth through interest rates. Raising rates now increases the federal deficit faster than it slows private sector credit growth. This is driven by high debt levels, the end of structurally declining interest rates, and the spending down of the Social Security trust fund as baby boomers retire. The current fiat system relies on continuous debt growth, making deleveraging nearly impossible. The speaker concludes that large fiscal deficits will persist for the next decade due to this system and human nature, making scarce assets like Bitcoin a valuable protection.

Speaker 0 presents a sequence of large-scale financial figures: - From 1998 to 2015, undocumentable adjustments at DOD and HUD amount to 21 trillion. - Bailouts between 2008 and 2012 amount to 29 trillion. - Adding 21 trillion and 29 trillion yields 50 trillion. - Going direct injections after the going direct reset began in 2019 during the pandemic amount to another 5 trillion, bringing the total to 55 trillion, not counting quantitative easing. - He concludes, “we don't have a financial problem. We have a bank robbery.” - He notes that in the annual wrap-up, a new chart was created and released on social media showing the numbers.

More than 25% of the annual federal deficit is spent taking care of illegal immigrants. In 2023, the total outlay was $6.1 trillion, the total revenue was $4.4 trillion, and the federal deficit was $1.7 trillion. In 2023, $451 billion was spent taking care of illegal immigrants, which is 26.5% of the $1.7 trillion deficit. If the border was secure and there was control over who enters the country, 26.5% could be cut from the deficit. This is especially important because the money is borrowed, meaning interest will be paid on it. In 2023, $451 billion was borrowed to support illegals, and interest will be paid on that amount.

In 1994, the New York Fed and the Federal Reserve bought shares in the Bank of International Settlements (BIS). The BIS is described as the central bank of central banks in Sweden/Switzerland, said to operate above the law, with sovereign immunity, the ability to receive and hold money secretly, and to keep money on its balance sheet secretly. The Fed’s purchase allegedly made their relationship with the BIS closer. In 1995, a budget deal “crashed and burned,” and in October there was a claim from the president of the largest pension fund that “they, whoever they are, have given up on the country and moving all the money out starting in the fall.” It was around October 1997 that money purportedly began to go missing from HUD and the Department of Defense. The speaker asserts that from 1998 to 2015, $20,000,000,000,000 was missing from COD and $1,000,000,000,000 missing from HUD. With money going missing, the speaker describes the onset of the “great poisoning.” The argument continues that the next month after the budget deal collapse, OxyContin was approved, HUD predatory lending began, pill mills started, and targeting of low-income neighborhoods intensified, with roundups from the private prison movement. The speaker notes undocumentable adjustments rising sharply. By 09:11, the speaker claims, a reporter had been covering missing money and a large spread was planned for Insight magazine about $3,300,000,000,000 missing, demanding accountability and identifying which private corporations and banks ran the payment systems. The story was expected to run on 09/15/2001. On 09/10/2001, Donald Rumsfeld held a press conference at the Department of Defense stating that the DoD was missing $2.3 trillion (or $3 trillion, depending on version). The next day, 9/11 occurred. James Corbett later released a video, “Nine Eleven Trillions,” describing how offices blown up at the Pentagon and World Trade Center related to securities and financial operations connected to the missing money. The speaker asserts that the Pentagon office blown up housed the Office of Naval Intelligence Research Group investigating the missing money. The Patriot Act followed, DoD received large appropriations, and attention to missing money diminished. Fast forward to 2015, the financials allegedly showed the greatest missing money in one year: the DoD was missing $6.5 trillion in that year. Dr. Mark Skidmore, a budgeting expert at Michigan State University, investigated, and, after reviewing DoD financials, confirmed substantial undocumentable adjustments. He contacted the speaker to help conduct a complete survey of all financial statements from fiscal 1997 to 2015. The survey yielded figures increasing from $12 trillion to $21 trillion missing. When Skidmore published his 2017 report (at missingmoney.solari.com), it was found that the amount missing from the U.S. Treasury matched the total outstanding debt of the United States on the books—$21 trillion. Authorities reportedly pressed the DoD to produce audited financial statements; DoD refused. The Kavanaugh hearings are cited as the moment when the Federal Accounting Standards Advisory Board (FASB) Statement 56 was issued, allowing the government to keep books secret as a matter of administrative policy, extending to private companies and banks doing business with the government. The result, according to the speaker, is that much of the disclosure in the U.S. securities market is meaningless due to government secrecy. The speaker notes that COVID-19 operations could not have happened without FASB 56, claiming it enabled access to unlimited secret money. A quoted anecdote is that one month after FASB 56 passed, Moderna reportedly raised $500,000,000.

America is going bankrupt quickly, but nobody seems to notice. The Defense Department budget is a trillion dollars a year. Interest payments on the national debt have exceeded the Defense Department budget and are over a trillion dollars a year and rising. The U.S. is adding a trillion dollars to the debt every three months, soon to be every two months, then every month. Eventually, the only thing the U.S. will be able to pay is interest. This situation is like a person with too much credit card debt and does not have a good ending. Spending must be reduced.

High taxes in the US aren't the main issue; they don't fund the government. The government is financed by printing money through treasury bonds bought by the Fed. This creates an illusion that taxes support the government, but it's really money printing. If this truth is widely known, it could lead to a currency crisis. The next US president must make significant changes to prevent a collapse. Winning elections won't fix the problem; a complete overhaul of the government is necessary. It will be tough, but it's essential to secure the country's future.

The US government prints its own money, so why borrow in the same currency? Confusing language aside, the government sells bonds to borrow money. Despite the confusion, it's clear the government prints money and borrows, leading to debt and deficits.

The speaker states that supporting US consumers is the reason for their actions, which are part of the dollar being a reserve currency. Regarding the US fiscal situation, the speaker acknowledges that US federal debt is on an unsustainable path, but not at an unsustainable level currently, and the limit is unknown. They state that the US is running very large deficits at full employment, which needs to be addressed sooner rather than later. The largest and fastest-growing parts of federal spending are Medicare, Medicaid, Social Security, and interest payments, requiring bipartisan solutions. Domestic discretionary spending is a small and declining percentage of federal spending.

Supporters of the bill admit it adds $270 billion to the debt next year, which is the only certainty. The bill also increases the debt ceiling by $5 trillion. This increase is an admission that they aren't controlling the deficit and anticipate adding trillions more in ensuing years. The authors of the bill are anticipating adding more than $2 trillion next year.

The Federal Reserve's actions are worrisome. They've lost trillions by borrowing money at high rates (5.4% from banks, 5.3% from funds like Fidelity and Vanguard) to buy government bonds. This artificially inflates the government's perceived financial health, encouraging excessive borrowing when rates were low. This process diverts capital from the private sector, hindering business growth and job creation. Instead of the Fed holding massive balances, that money should be used by businesses for expansion and innovation. The Fed's actions are mirrored by other major central banks globally, exacerbating the problem. It's not money printing; it's expensive borrowing that harms the economy. Freeing up these funds would allow banks to lend to small businesses and stimulate economic growth.