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US Debt Soars By $100 Billion On Last Day Of 2014, Hits Record $18.14 Trillion
It seems like it was only yesterday when we reported that, in yet another sleight of hand for the US Treasury and Social Security Administration, US debt rose by $32 billion on the last day of November sending total US debt above $18 trillion for the first time ever. As we further noted, it also meant "that total US debt has increased by 70% under Obama, from $10.625 trillion on January 21, 2009 to $18.005 trillion most recently."
Fast forward to today when we are happy to report that according to the US Treasury, America's debt-funded spending spree, while supposedly slowing down if looking at the declining monthly budget deficit report, never actually has.
As of the last day of 2014, total US debt soared by $98 billion in one day (driven again by Social Security debt surging on the last day of the month to a record $5.117 trillion), and closing off 2014 with a new all time high total of $18.141 trillion in Federal debt - an increase of $136 billion in the month of December and $790 billion for all of 2014.
Source: US Treasury
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Sad Trombone...waa...waa...waaaaaaa
With over 18 trillion in debt, are they really keeping track of that measly .30 cents?
What's a trillion between friends???
A trillion here and a trillion there and pretty soon ya' got a whole buncha bazillions.
But the stock market is at record highs so all will end well.
Imagine what $18 trillion could have accomplished if sane people had spent it.
This calls for one of those "USA! USA!" chants like we had for the martial law fiasco in Boston.
All this debt and look around, not much to show for it... Recoverywise
Layoff List: http://www.dailyjobcuts.com
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I thought we were already in the nigzillions
-- buy phyz today?
-- wait for fomc
we bankrupted some folks...
Lest we forget...
Kyle Bass interview regarding senior member of obammy administration's statement:
"We're just going kill the dollar..."
...,it's the only way to be sure."
Iceland incarcerated their bankers.. Come on America you have enough politicians that need jail time you could man a prison walmart factory..
1. Who (as in PEOPLE and NOT BANKS actually OWNs the federal reserve?)
Overwhelming the system is one of the primary strategies of Obama and his socialist handlers, going back decades. This is the plan. And it's why anyone who thinks the FED will do anything on its power to keep the system up doesn't understand the long term objective.
http://y2u.be/VI6tBwVjyOY
Could someone please explain, in simplest terms, what this means to American citizens? How this "Debt" affects us? What would happen if it was just wiped off the board, who would suffer (most)? Who is it owed to? Who is the interest supposedly owed to? Sorry for the my lack of understanding here, but it simply resides in the abstract and I don't personally feel any connection to this debt, at the moment.
"A trillion here and a trillion there..."
100 B a day...it will take about five years to double to 36 t, hummmm.
the government's ability to tax the labor of the citizens is what gives a fiat currency its value.
In other words it is an iou {in this case an iou from a private corporation composed of known criminals} backed by the future labor of the citizens and the governments power to levy an income tax upon them on behalf of the private corporation {the FED}.
In this case, every man, woman and child in America already owes over 4 million dollars so the debt {fiat money is really debt not money}, is impossible to repay, which of course means that the currency is trading above it's actual tangible value which is based on the net present value of the future tax receipts.
So the summary is that the "money" is actually an unpayable debt. Not the sort of thing that inspires confidence once understood.
and since by theory, that would make the monetary system debt seritude. so, believe it or not, most humans by stupidity or lack of choice or both, live under the guise of debt slaves with some freedom. like weekends and evenings, ha...
hope you luv your job, ha...
lets go shopping honey, ha...
as long as rates of interest trend lower towards zero we can keep marching to the reset/cliff when the chaos begins.
2 years? 5 years? i don't know, ha...
but when it happens i'm thinking better dead than alive, no not ha...
What would happen if it was just wiped off the board? Overall, it would cause an international financial calamity that would make the Lehmann default look like a fly speck on an elephant in comparison. To describe the calamity would probably get us away from the simplest terms that you would request; so let us look at would suffer. First of all, American citiizens who own U.S. Savings and Treasury Bonds would suffer. Many people on fixed income have bought these bonds for their retirement, etc. Second, The Social Security Administration would be devastated. Over 25% of the debt is owned by Social Security, and they are counting on it to pay Social Security recipients over the next 25 years. Third, foreign entities own about 40% of the debt; if they are not repaid, the international crisis would be hard to understate; prices of imports -- and products that depend upon imports -- would probably double.
An important key to financial stability in the U.S. and in the world is the order REfinancing of the U.S. debt. Bonds are coming due and every month, and the U.S. Treasury issues new bonds (borrow new money) to pay off maturing bonds (repay past investors). If there is any hint that the U.S. cannot or will not refinance its debt, there will be an international calamity. Fortunately, there is no serious thought that the U.S. will not refiannce, and the world is flush with wealth that developed with the fall of coummunism and with the free enterprises boom in second-tier countries; so there is no shortage of investors willing and eager to refinance the U.S. Debt.
There are a couple of looming problems with the debt. One problem is that interest payments could crowd out other priorities for the federal budget. The problem is masked right now by low interest rates, but no one expectes low interest rates to continue forever. Another problem is that there could be a call for austerity at some point in time, and the huge debt and interest payments make austerity especially difficult.
We has solution. We rounds up alls the peoples living/working on government and sells them to creditors as slaves. They works off debt. We starts over.
I heard the going rate for Yellen's pussy is a sweet 600b.
600b Zimbabwean dollars?
Way too high.
"We're just going to kill the dollar..."
those dumbasses couldn't even get that right... well, that assumes they actually wanted to in the first place... kind of like when prior administrations would puff up their chests about their "strong dollar" policy when they actually wanted a weak dollar to spur exports...
the only way these clowns could come up with something that doesn't suck is if they made vacuum cleaners... it's always the opposite of what they say when it comes to monetary policy...
If you like your deficit, you can keep your deficit.
Do you (state dupes name), take this FRN to be your lawfully wedded fiat, to love and to spend, 'til debt do you part?
I don't wed out of specie.
Shocker
not much to show for it...
You’re clueless, darling!
Of course US Empire has a lot to show for the financialization of its economy as well as dollar globalization.
How can you tell?
1953 US population = 160 Million
2003 US population = 290 Million
2013 US population = 316 Million
Now, check the link below. Look how many jobs created since the 70’s compared to the 50’s and 60’s.
Note: Besides 130 million more people in 2003 than 1953, US had to import about 10 million barrels of oil a day. In the 50’s and 60’s, US was, pretty much, oil sufficient.
Import 10 Australia in oil, everyday! Try to do this in a ‘Real’ free-market capitalist society to see how far you would go.
http://research.stlouisfed.org/fred2/series/CIVPART/
“America’s elites know that capitalism is totally unworkable. We try to impose it in the 3rd world so we can destroy them” — Noam Chomsky
2/3 of the African nations quadrupled their economies and it didn't cost them a cent. This is not an accomplishment.
Africa?
How does your brain work when you have to focus on breathing?
Africa knows how to Ponzi scheme (to distract the sheeple in believing “we are rich”) as well
ON SATURDAY, April 5th, South Africa was Africa’s largest economy. The IMF put its GDP at $354 billion last year, well ahead of its closest rival for the crown, Nigeria. By Sunday afternoon that had changed. Nigeria’s statistician-general announced that his country’s GDP for 2013 had been revised from 42.4 trillion naira to 80.2 trillion naira ($509 billion). The estimated income of the average Nigerian went from less than $1,500 a year to $2,688 in a trice. How can an economy grow by almost 90% overnight?
http://www.economist.com/blogs/economist-explains/2014/04/economist-explains-2
It is not capitalism if you are using a fiat currency. A fiat currency is inherently communist.
So, change the money system.
I favor Sovereign Money.
http://sovereignmoney.eu/
I favor the freedom to choose.
Anusocracy
My darling! You are intoxicated by Kool-Aid, again.
There are NO freedoms. There is NO knowledge. And NO choices.
Life is an illusion. How can you be so sure?
Wait when we run out of coal and oil.
The external world is separate from your internal world, your mind, and is knowable.
The problem is that most people commingle the two which leads to unreality becoming real and reality becoming unreal.
So,
We would be better advised to tell the truth and plead insanity, because we are merely servants of our genes.
Believing in the principles of Growth and Progress (such as in our religion and education believes) represented not just economic heresy but a dereliction of moral duty….. yet these excuses constitute our primary defense.
Alternatively, as spiritual beings, we were “just obeying orders.”
Our time bomb is mysticism. Its delivery system is language. And its hiding place? The unfathomable coils of our DNA.” -- Reg Morrison excerpts
http://www.amazon.com/The-Spirit-Gene-Humanitys-Illusion/dp/0801436516
You are an emotional servant to your genes as long as they have significant control over your behavior. That is, that you innately believe that they are in some way beneficial to your survival and you react emotionally if you can't "have" that behavior.
I do not need to control others, rather voluntary interaction is how I envision the best way of survival and the basis of my world view.
Ridiculous. What is voluntary anyway? Do i go to work voluntarily? No one points a gun to my head yet i would rather be on a beach with a girl but, gun or no gun, i still go to work. At least for now and the near future.
You are a slave to your own mind. YOU choose not to go to the beach. You could go but you do not. The reasons really matter not.
This is illogical.
Sitting on a beach, not working, may have some short-term emotional 'benefits' (becoming lazy and doing nothing SOMETIMES does), but eventually, when one becomes hungry or thirsty or cold after the sun sets, one understands that he could have been working to earn trading stock in order to aquire the necessities (like food, clothing, shelter, etc.).
A reward is unappreciated if it is not earned; and if not working, there is no earning; and therefore there is no appreciation or gratification in leisure time (you get fucking bored of the same shit every day anyways).
Here, in the CONUS, a few people borrowed a shitload of money from a few others, and the CONUS ZOG government is making it the problem of the vast majority; who benefitted NOT. You see, most will NEVER get the opportunity to sit on the beach NOW; due to this fact. There isn't a CHOICE involved at all. The debt issue has passed the full saturation point (the GDP per annum does not meet the total 'official' debt number any longer), and there is no mathematical way to solve the problem. Gravity has no choice but to work, and the weight of the water exceeds the capacity of the vessel's bouyancy (the fucking ship MUST; therefore, SINK).
Please stay on topic.
What you do with yourself as an individual is separate from voluntary interactions between people.
You can play with your own private parts but playing with someone else's would require their permission.
It is a major distinction between not-quite-humans and humans.
Cost - benefit analysis.
We all try to find a place where we can live with the 'cost - benefit' analysis we have done for ourselves.
Some are more fortunate than others in this regard, but all else being equal, that's how most humans work.
I think you are looking for a world where things make logical sense. THIS ONE ISN'T IT.
Not granted. You need to obey.
I choose Gold, Silver and Bitcoin (for international electronic transaction).
Ah yes, ol' Noam "what does it matter even if it was true, it wouldn't be significant" (referring to critics of the laughable 9/11 Official Story) Chomsky. He also believes Oswald killed JFK. Capitalism is "unworkable" to America's elites because they DON'T WANT TO WORK.
Chris Hedges
A public that can no longer distinguish between truth and fiction is left to interpret reality through illusion.
When opinions cannot be distinguished from facts, the world becomes a place where lies become true, where people can believe what they want to believe. This is the real danger, far more pernicious that stereotypes.
I wish you would take your own advice, or at least learn to shut up.
Nid, you have zero style.
Nice non-argument, but we'll bite! You believe that 19 non-pilots jumped into jumbo jets and flew like top-guns on that fateful day. Could that happen? NO, it could NEVER happen. Your ridiculous quote mentions "truth, fiction, opinion, facts". Since 9/11 revolves around airplanes, let's consult one of the worlds' great pilots, John Lear. Yes, his father invented the "lear jet". Lear states, in a sworn affidavit which can be found easily online, that human pilots could not have flown those planes the way the official fairy tale claims they were flown on that day. In other words, they were either remote-controlled or there were no planes. We could go on and on about how ridiculous the official story is, but when the public is fed lies, and they can't muster the courage to question them, their opinion IS illusion. Oh to be a Brazil Nut, basking in the sun!
Um, you quote Chomsky talking about capitalism when it is not capitalism at all. Talk about not being able to distinguish truth from fiction...
lets get it done dude
“America’s elites know that capitalism is totally unworkable. We try to impose it in the 3rd world so we can destroy them” — Noam Chomsky
HAHAHAHAHAHAHAHAHAHA!!!
One does not impose capitalism! Free markets can't be imposed...they just happen...it's called voluntary exchange!!! What the elites are imposing isn't capitalism since capitalism is unimposable!
You jumped the shark on that one Escrava. Now grab onto something sturdy and pull your head out of your ass. Or just go over to HuffPo...I'm sure they miss you.
The standards of any structure are imposed.
capitalism has defining standards, therefore, there is imposition.
Much in the same way being born into a social system and partaking in a social system is "voluntary," participation in economic systems is voluntary.
It is very highly unlikely you'll find a self-awakened buddhist who came to revelation of personal & spiritual philosophy in the middle east (not counting for the internet).
Determinism is such a bitch, isn't it. You're only as free as you're capable of understanding you are. There are very very many levels of "free," and so many people settle for what isn't it.
I tend to disagree. In this day and age you cannot create your own economic system or society free of government.
The standards imposed in the modern world essentially developed over the past several million years in basically the same environment as all other animal behaviors did. The advance of mankind is predicated on creating a human world by abandoning most of what is successful in the animal world.
Which runs counter to government - a lingering stalwart of the animal world - and the involuntary system it creates.
Freedom's a slippery bastard.
I prefer anarchism, in the true sense of the word.
i
Definitely.
Walll street, which owns our Congress has pretty much imposed "crony capitalism" through lobbyists on K Street. Maybe you should get your head out of your's.
Here's what we got for the $18 trillion:
* More welfare recipients
* More wars
* Better paid civil servants
* Richer billionaires + bigger yachts
* Detroit
* Less security
* Higher bids for Warhol art
* More crime
* More drones
* Better equipped police
* Obama
The $34 billion in DHS grants given to the police could END world hunger.
The way to get more of something is to subsidize it.
He means subsidizing the police.
I guess someone thinks ending world hunger is a bad thing.
What a miserable bastard you must be.
World hunger cannot be ended unless you kill all the hungry.
How's that war on poverty working out Lyndon? Oh, you mean the more you spend to fight it the worse it gets? Huh.
World hunger can be ended without killing the hungry.
Kill the fucking banksters, who cause it.
You cant feed the world with keystrokes.
There is no shortage of people willing to do stupid shit for money.
But but the teevee told me deficits came in under 500b for the first time since the mess Obama inherited from bush....
Yes. Which is stacked directly on top of all the past debt.
This debt is almost like..... a trap or something.
Let us not forget the $200 trillion more in unfunded liabilities.
or the somewhere's between 800 Trill and 1.5 Quadrillion, oh hell, who the fuck knows...it might be 5 Quadrillion in derivatives that are going to blow up eventually.
And then how's abouts the 100:1 leveraged paper claims on each ounce of phyzz gold and silver that NOBODY has.
Unwinding that outta be real fun too.
Keep stackin', bitchez and a Haaaaapy New Yeeeeear...
Lets also not forget to give the republicans their 'fair share' of the credit for this great accomplishment. Couldn't have happened without congressional help. It would also be helpful to point out that the 'deficits don't matter' Reagan admin doubled the national debt during his reign. That's right, that paragon of conservative fiscal responsibility added moar debt, as a % of GDP than Obama. Obama does have 2 more years, but he will really have to work hard to beat Ronny.
He'll beat Ronny, alright. When the economy turns even further down later this year tax revenues will go down and government spending will go up.
And if rates go up for any reason .gov will be borrowing at a furious pace.
Another thing to keep in mind is how the US dollar has been killing it all last year, and killed it again today (Over 91 on the index).
What a country!
Imagine what $18 trillion could have accomplished if sane people had spent it.
Most depressing statement on here.
With that much you could probably run/ruin several countries!
At $5 billion a pop (cue Ukraine) that "several" is an awful lot of countries...
I had a great day at the blackjack table today. I'm feeling jublilee style generous; gonna pay off all our debts. Just as soon as I put together ~9042 more years of days like today and I'll write a check to cover it all.
In a sane world ran by sane people that much money never would've existed in first place.
Imagine what $18 trillion could have accomplished if sane people had spent it.
Truth
We have yet to hear a "journalist", or anyone for that matter, ask a politician one very simple question, "Why didn't you just give all this money to the people instead of the banks that caused the mess?". I guess that one isn't on The List.
Is that because sane people would not have spent it?
I'd like to think that sane people wouldn't have stolen it in the form of taxation in the first place.
Sane people don't invent and use such insane systems.
If they were sane, they would not have spent it at all.
"Imagine what $18 trillion coiled have accomplished if sane people had spent it."
Sane people done spend $18 trillion they don't have or will never have the means to pay it back.
Sane people could have spent it, but the nutters stole it before they got the chance.
You would think with 18 trillon we would at least have the space elevator.
If you stack 18T $1 bills... wonder how high that would reach.
How much is all of that in sheckels?
Several pounds of flesh
The debt chart is very similar to a chart of the ascent of the DOW
Funny that.....
Just a coincidence, nothing to see here. Move along, sheeple.
damn well should be. debt is wealth, and corporations are functioning debt machines.
btfd stupid and leverage that debt to da moon, ha...
Krugman ends with some great advice:
"So the next time you see some serious-looking man in a suit declaring that we’re teetering on the precipice of fiscal doom, don’t be afraid. He and his friends have been wrong about everything so far, and they literally have no idea what they’re talking about"
Just remeber Paul only dopes use dope
It will end well for a few people.
LoL... Who is still lending us money?
Oh yea,... We just print it now... Carry on. It will end well.
"The Bank never goes broke. If the Bank runs out of money, the Banker may issue as much as may be needed by writing on any ordinary paper." —the rules for Monopoly
Was talking with a (former) ZH member the other day. He informed me that Monopoly game now uses credit cards instead of the traditional Monopoly currency that looks more real than the US dollar at this point.
I asked if it sucked off 16% of your money every time you pass GO. Or if you were allowed to do a Payment Optional ARM on the properties you buy.
What did he say?
At least with Monopoly everyone agrees to abide by the same set of rules and each player has the ability to watch the other players and catch/punish violations.
You really have no ability to watch and catch bankers breaking the rules they make, much less any recourse should you somehow discover underhanded behavior.
Come on, Monopoly is just a casual game and the rules are totally made up, just for fun. In reality, banks only use ordinary paper based on supporting proof in scientific studies written by well educated academics.
I disagree. Monopoly was done as both a casual game and a criticism of the system. particularly at the moment where someone wins because all the others are in theory asset-rich but cash-strapped
you're only asset-rich if the assets can generate income for you... which is the point of the game... if the assets aren't doing that you buy time by mortgage in the hope they will later or you sell them off to gain liquidity to pay what you owe...
cash is king, bitchez
And I love the fact that people actually believe that the fed will stop printing and QE is something that belongs to the past :)
There will be a 2 trillion dollar QE as they’ll now try the chinese model spending boom. Before that, the euro will keep sliding but once they print yet again, it will easely come back down to 1.35
The fed never stopped printing, the Japs are doing it for them
Belgium is full of happy time too.
How about a currency swap for you?
Overwhelming the system is one of the primary strategies of Obama and his socialist handlers, going back decades. This is the plan. And it's why anyone who thinks the FED will do anything on its power to keep the system up doesn't understand the long term objective.
The plan is to collapse the entire system, and debt is the tool.
Why would anyone downvote Carpenter, He is spot on. The USSA is the primary target and they (the banksters) are robbing the wealth and taking us down at the same time. We will eventually end up like the western roman empire while all the wealth is being transferred to the east
And why does anyone pay taxes again?? Hmmm???
I mean, fuck...obviously if they can print all they fucking want then what the fuck do they need to steal from us for, right?
I think somebody outta investigate this...there may be a scandal going on here that we missed.
Oh wait...
You pay taxes for the right to live, got that, motherfucker?
In a word, control.
Ah Knuckles - you make me laugh
From the link you provide, looks like OJ is the best performer. Mortimer and Randolph would be happy right now.
Math is not your strong point, I guess.
$100bill = approcimately $300 per person.
What's maff?
Bad smelling muff?
Is that a second cousin of stanky "two fingers" camel toe?
while your at it, ask him what the fuck "approcimately" is
It's approcimately two angstroms long when he measures it in the mirror.
Or 0.2 nanometers
Our situation is so bad and the truth is uttered so seldom that just about any wacky theory we come up with can be made to fit the data (or lack of). From Icke's reptiles to 'evil central bankers' to alien overlords, time travelers and shape shifters...we get no explanation from TPTB so we are left on our own to imagine. Takes a lot of effort just to keep the wack straight.
Are you still living in the Vegas area? Would love to grab a beer and chat with a fellow ZHer if you are interested. I've never used the chat system but I added you which I assume would let us send direct messages to one another.
Evil: I'll paraphrase Benny Hill:
"My angstrom is approcimately 12" long but I don't use it as a rule".
Once you descend to the level of comparing penis length, you've lost ALL credibility.
Boner's Law?
And your claim of "credibility" is exactly what? You're a nothing, anonymous poster. And my cock is much bigger than yours.
I refuse too fold mine in half just to compete with you.
In case some of you have not yet comprehended that there is no eject or pause button to save your ass, listen to these three words: secede or die! Get out of the system, detach from from all the .gov entanglements that are tentacles in your life. Do what it takes to escape the coming horrors. Most won't. When the BSOD starts to reveal itself, it's too late for you. The reboot will be very long and many will perish.
BTW, if you are sane and know how to shoot, come to Montana.
nor spelling , yours ... "Approximately " , eh Einstein
Oh, no, the spelling police just pulled me over.
Hope they don't give me a sobriety test!
Watch out, they may ask you to walk in a strait lion.
You're too lazy to use the spell check built into the comment box. That's a good indicator of how intellectually lazy you actually are.
NidStyles: Just a fun fact for you. If you use Tor to read and comment on ZH the spell check and various other functions are not visible or functioning due to Tor blocking them. I can't even BOLD parts of text and the toolbar is not even visible to me.
NoScript nukes spellcheck, revealing the diminished, or mostly unexcercised, education many of us received. NoScript also permits you to go back and edit something stoopid, even after comments to your post.
A true shit disturber could state something, gain a ton of upvotes/supporting comments, then change the original comment to say something totally different. A springtime for hitler thing. If you were so inclined.
I did not know that the spell checker works, before reading your lines. well, thanks for the info
I can spell reasonably well, I just suck at typing.
Typing's easy once you get the hank of jit
$300 per person per day. I know folks with cheaper drug habits...
> $100bill = approcimately $300 per person.
Might be of relevance to examine how many million of the US population would be unable to afford that amount. Or would the "plan" be to include it in their transfer payments (so perpetuating the circle)??
If every American gave the government EVERYTHING they own, it wouldn't come close to enough.
I'd say that is fairly relevant.
Anyone see any typos, please let me know.
I've always been better at math than English.
maff is hard
English is hardererer...
So good at math that you believe in AGW. I find that hard to "believe".
AGW: Al Gore Weather
And how is that relevant (assuming that you are correct - likely a first, if that's the case) to the subject under discussion?
And spelling is obviously not yours.
30 cents here, 30 cents there adds up to maintaining a Swillbucks's jones.
It says in the link:
The Debt to the Penny...Hey, Obama has it all under control.. Millions trillions,
what s the differemce?.
Total debt figure is meaningless. Supposedly the FED is part of the U.S. govt. Wink Wink.
Since that debt is ours, we can just erase it. It is like your left pocket owing money to your right pocket.
Debt we owe foreigners should be evaluated also for fraud. For example, the lifting of jobs and technology from America to then take wage abritrage (wall street stealing), should come under legal review, and much of it erased.
Private debts can remain in place, and new debt free money issued to allow people to work that down. Some private debts are fraud as well, especially due to asset price pushing via quantitave easing and housing bubble.
Whenever I see debt figures, I always ask - What kind of debt? What is the nature of the debt instruments?
If it is Mortgage Backed Securites, it is yet more fraud through double hypothecations, thus making excessive demands on credit money supply.
But, to look at things in a legal way implies that mankind finally comes to realize that money itself is a division of the law. So, the current hypnotic suggestion on man's mind, that money is a divison of debt, needs to be thrown on the ash heap of history. In the same way that money is a divison of metal. Metal by weight was money is another hypnosis in action concept. These concepts are erroneous and exist so that financial predators can take rents.
The Fed supposedly rebates its interest gains to Treasury, so this public debt SUPPOSEDLY is not a rent scheme to steal from taxpayers. AGAIN - what kind of debt? We don't do a good job of resolving our debts into types on purpose - as part of existing banking usury funded hypnosis.
Work slaves work - your betters hold debt instruments on your life. You can never pay off the demands of these instruments, and therefore you must always remain as a debtor, and hence subordinate. We, the financial elite will be sure and structure the money supply so that you will always be paying interest to us, and hence we will always be in surplus, while you are being drained. Ha Ha Ha, it is so good to be a financial plutocrat.