The World Is Now $217,000,000,000,000 In Debt And The Global Elite Like It That Way

Tyler Durden's picture

Authored by Michael Snyder via The Economic Collapse blog,

The borrower is the servant of the lender, and through the mechanism of government debt virtually the entire planet has become the servants of the global money changers.  Politicians love to borrow money, but over time government debt slowly but surely impoverishes a nation.  As the elite get governments around the globe in increasing amounts of debt, those governments must raise taxes in order to keep servicing those debts.  In the end, it is all about taking money from us and transferring it into government pockets, and then taking money from government pockets and transferring it into the hands of the elite.  It is a game that has been going on for generations, and it is time for humanity to say that enough is enough.

According to the Institute of International Finance, global debt has now reached a new all-time record high of 217 trillion dollars

Global debt levels have surged to a record $217 trillion in the first quarter of the year. This is 327 percent of the world’s annual economic output (GDP), reports the Institute of International Finance (IIF).

 

The surging debt was driven by emerging economies, which have increased borrowing by $3 trillion to $56 trillion. This amounts to 218 percent of their combined economic output, five percentage points greater year on year.

Never before in human history has our world been so saturated with debt.

And what all of this debt does is that it funnels wealth to the very top of the global wealth pyramid.  In other words, it makes global wealth inequality far worse because this system is designed to make the rich even richer and the poor even poorer.

Every year the gap between the wealthy and the poor grows, and it has gotten to the point that eight men have as much wealth as the poorest 3.6 billion people on this planet combined

Eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by Oxfam today to mark the annual meeting of political and business leaders in Davos.

This didn’t happen by accident.  Sadly, most people don’t even understand that this is literally what our system was designed to do.

Today, more than 99 percent of the population of the planet lives in a country that has a central bank.  And debt-based central banking is designed to get national governments trapped in endless debt spirals from which they can never possibly escape.

For example, just consider the Federal Reserve.  During the four decades before the Federal Reserve was created, our country enjoyed the best period of economic growth in U.S. history.  But since the Fed was established in 1913, the value of the U.S. dollar has fallen by approximately 98 percent and the size of our national debt has gotten more than 5000 times larger.

It isn’t an accident that we are 20 trillion dollars in debt.  The truth is that the debt-based Federal Reserve is doing exactly what it was originally designed to do.  And no matter what politicians will tell you, we will never have a permanent solution to our debt problem until we get rid of the Federal Reserve.

In 2017, interest on the national debt will be nearly half a trillion dollars.

That means that close to 500 billion of our tax dollars will go out the door before our government spends a single penny on the military, on roads, on health care or on anything else.

And we continue to pile up debt at a rate of more than 100 million dollars an hour.  According to the Congressional Budget Office, the federal government will add more than a trillion dollars to the national debt once again in 2018…

Unless current laws are changed, federal individual income tax collections will increase by 9.5 percent in fiscal 2018, which begins on Oct. 1, according to data released today by the Congressional Budget Office.

 

At the same time, however, the federal debt will increase by more than $1 trillion.

We shouldn’t be doing this, but we just can’t seem to stop.

Let me try to put this into perspective.  If you could somehow borrow a million dollars today and obligate your children to pay it off for you, would you do it?

Maybe if you really hate your children you would, but most loving parents would never do such a thing.

But that is precisely what we are doing on a national level.

Thomas Jefferson was strongly against government debt because he believed that it was a way for one generation to steal from another generation.  And he actually wished that he could have added another amendment to the U.S. Constitution which would have banned government borrowing…

“I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.”

And the really big secret that none of us are supposed to know is that governments don’t actually have to borrow money.

But if we start saying that too loudly the people that are making trillions of dollars from the current system are going to get very, very upset with us.

Today, we are living in the terminal phase of the biggest debt bubble in the history of the planet.  Every debt bubble eventually ends tragically, and this one will too.

Bill Gross recently noted that “our highly levered financial system is like a truckload of nitro glycerin on a bumpy road”.  One wrong move and the whole thing could blow sky high.

When everything comes crashing down and a great crisis happens, we are going to have a choice.

We could try to rebuild the fundamentally flawed old system, or we could scrap it and start over with something much better.

My hope is that we will finally learn our lesson and discard the debt-based central banking model for good.

The reason why I am writing about this so much ahead of time is so that people will actually understand why the coming crisis is happening as it unfolds.

If we can get everyone to understand how we are being systematically robbed and cheated, perhaps people will finally get mad enough to do something about it.

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Bigly's picture

That number hurts my eyes 

Beam Me Up Scotty's picture

Wasn't a 1 with 100 zeros after it called a "Google"??

HowdyDoody's picture

You owe the bank $100, that's your problem.
You owe the bank $1 billion, that's their problem.
So suddenly us supposedly owing the banks $217 trillion is our problem?

A 'Google' is (or should be) 1 followed by 666 zeros.

Beam Me Up Scotty's picture

I had a college professor 30 years ago that said you aren't the winner if you make 20 million dollars in your life--you can't take it with you. You win if you are 20 million in debt. Of course today, they just go after your spouse or your kids to get the money back.

asteroids's picture

Look up Roman Empire and Taxes.

GreatUncle's picture

Aristocracy don't pay taxes ... yup we got that.

Poor farmers flee the land can't afford it ... if that is an ordinary worker we got that too.

playit's picture

I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.jobproplan.com

OpTwoMistic's picture

The elite will not "like" it when the dollar fails and they have no more than us and NO security forces.  We know where you live. 

sleigher's picture

"The borrower is the servant of the lender, and through the mechanism of government debt virtually the entire planet has become the servants of the global money changers. "

 

And all that could change overnight by dragging about 100 specific people into the streets and shooting them.  What have we become?

Mr. Universe's picture

If only it were that easy. Those 100 people have the special protection of thousands of loyal minions, the .gov, and the MSM.

We have become meat Popsicles.

Krungle's picture

That is only because the minions presently think the monopoly money is actually worth something. When it becomes apparent that it isn't, the scenario changes slightly....

GUS100CORRINA's picture

The World Is Now $217,000,000,000,000 In Debt And The Global Elite Like It That Way

My response: Looking at the number, I am now ROFL! We look to be headed for a GLOBAL RESET which will most probably be kicked off by some sort of DIVINE EVENT!!!

Goodnight IRENE!!! This NUMBER is surreal.

Tarzan's picture

Honestly, who had

$217,000,000,000,000 to lend?  It's a fantasy that will only grow, never shrink, until it pops, AND ITS GONE...
sleigher's picture

No one and that is why it's funny.  Except so many take it all so seriously.  I really want them to make a trillion dollar coin so I can get a good look at it.  Wouldn't be that hard to reproduce...

HardAssets's picture

Yep . . . the banksters made it up outta thin air with the help of their paid off whores in government. The ignorant populace fell for it. Their labor and real wealth was stolen from them. The crooks had a good run of their con game.

Now its time to tell them to Fuk Off.

Luc X. Ifer's picture

This number hurts my brain. The idiots of today undersigned their own descendants into perpetual serfdom to the descendants of the today's 1%, the aristocrats. This was a very smart strategic move by the today's aristocrats to ensure that their descendants keep the ruling in the family and the serfs remain serfs without any real chance to overthrown and replace them. Good job, kudos!

mike_king's picture

Please let the deflation of the Greater Depression start soon. Crash, NASDAQ, crash!

HRClinton's picture

Nice mind-jacking trick: "The world is in Debt..."

LOL.  The truth is, the world simply racked up a bet with a cartel of private bankers, who are allowed to conjure currency and credit out of thin air.

Roll the guillotines and get out the pitchforks and rope, or nothing changes. Until then, it's...

"These are not the Banksters you're looking for."

"These are not the Banksters we're looking for."

AlexCharting's picture

If people collectively just said "fuck it", then it would collapse. Its all a big social contract, and nothing more. 

GoinFawr's picture

collectivists may suck collectively, but when they succeed....

A Man of Wealth and Taste's picture

In other news the net worth of the Rothschild family was recently estimated at 217,000,000,000,000.

Glyndwr will return's picture

I would bet that that is in inverse proportion to the percentage of the planet they feel safe walking on. For sure they all have pseudonyms. No way can they walk a Thai beach or English pub and say " yeah I'm so and so Rothschild". Never going to happen. Even their servants will be enemies when they see the world

UselessEater's picture

In other news the net worth of the Rothschild family was recently estimated at 217,000,000,000,000.

Plus 5%

Plus your forskin and your first born.

(5% subject to retroactive change and illusory algo's to create Wiemar austerity just for giggles)

HRH Feant2's picture

This is not going to end well for most people. Others of us have been prepping, and waiting, for many years. Bring it on. Fuck the central banks.

Crypto-World-Order's picture

You better have a years worth of food and water, the elite want a depopulation scenario more than anything

Sonny Brakes's picture

Jesus Christ died for our sins. If it was good enough for him then it'll be good enough for me. I'd rather be dead than a slave to debt.

Sonny Brakes's picture

If your net worth is exactly zero consider yourself in the 1%.

Dilluminati's picture

It is a mean spirited, desperate world, where as the people drown in their debt they reach out onto others.  I hope God and Satan convene and make sure all of em pay, that no human hand is needed, but that a realization of just what the fuck they have been reduced too is tattoo'd upon their retina's as that judgement is made.

All of em...

 

bobert727's picture

It's all transitory...........

consider me gone's picture

And that  IS  "The Big Picture."

VWAndy's picture

thats how much money they swipped,printed aka magiced out of thin air.

Glyndwr will return's picture

We are almost at the time where most people want to kill central bankers. Not there yet , but getting close. Politicians who want to borrow money however, are starting to look like utter clowns . It's all warming up nicely . Especially when people wake up to who exactly these bankers are.

GreatUncle's picture

They need the transitional event ... it has to be for them to survive is how I see it.

WW3 or some other such scenario to flip the economic system and then ... do this fucker all over again.

Nah once is enough.

bluez's picture

A million Americans are going to march on Washington DC to demand life in prison for anyone who has a fallout shelter.

There Will Be Those Who Perish In the Next Crisis, And Those “Who Survive In Underground Luxury”

http://www.shtfplan.com/emergency-preparedness/there-will-be-those-who-p...

Going Inside A Billionaire’s Apocalypse Shelter

https://www.youtube.com/watch?v=VZ7DPi1hZSY&feature=youtu.be

Sparkey's picture

Pity the poor Billionare destined to die in his bunker, better to stay on top and face the future there!

" If this war starts,  we enter a new phase of history and although our old Pals ignorance, arrogance, hubris, and greed are all saying; "Go ahead take what you want,We can do anything, always have, always will, as long as you believe, the qualifier is believing, belief is not inclined to self inspection, but rather to demonstrations of the power of belief and this is the message we are conditioned to think we want to hear, Have confidence, we are invincible, go take what ever you want--it is God's gift to you!

This has worked so far, so it is well confirmed as realistic behavior, but, does it pass the test of being relevant in these times? 

The War hasn't "really"started yet, but if it starts it will, I think, quickly escape from the beliefs of those who think they can create chaos and guide it to the outcome they desire, minor chaos, we seem to have some tolerance for, but, critical mass?! when Chaos reaches critical mass it leaves the spectrum influenced by human thought and must be experienced as a force we are impotent against, when Chaos ceases to rule, the World will in some ways be unrecognizable and those who imagined that their Fortune and fame would deliver them to the World of luxury they are leaving, they will, like all of us who might survive, stand figuratively naked before the unknown future, then we will know what it is to be alone! "  

Bobrsta's picture

No, we're at a time when most people are absolutely clueless. It's how a Nation gets to a time like this.

VWAndy's picture

  Whats the true value of all fiat again?

I am Jobe's picture

Go wave the fucking flag this 4th and yell Freedom and USA USA .

GreatUncle's picture

Gonna say this ... on the 4th, free fireworks, yep love the freedom part, USA, UK whereever you live in the world freedom is the same concept of mind.

It's my birthday! Yay ... fitting I do believe.

DuneCreature's picture

What if everyone just said as of Monday morning we're not paying?

Would there be instant chaos?

Live Hard, Full Disclosure - No Repo Men Will Show Up Here At My Place, Die Free

~ DC v7.3

cossack55's picture

Too many slaves do not realize their status

DuneCreature's picture

They will if the music stops.

Live Hard, I Think The Gird And The Internet Might Be The Music In The USSA, Die Free

~ DC v7.3

Chupacabra-322's picture

Slavespeak

All Slavespeak is based on the premise that there exists external authority and that the individual must subordinate himself to that higher power. Since reality shows us quite clearly that those claiming “authority” over others are just human beings—the same as those over whom they claim to have power—then any such claim can be identified as being merely an inadequate attempt to justify a master/slave relationship. But once this concept of external authority has been accepted, then an avalanche of supporting words and terms can follow: Government, tax, war, citizen, democracy, Constitution, legislator. All rely on the premise that authority justly resides outside of individuals and must be obeyed. Slavespeak is dedicated to utilizing, while at the same time disguising or explaining away, this invalid concept of external authority. It hides the widespread master/slave relationship that exists in today’s societies by calling it a government/citizen relationship. The Slavespeak definitions for “government” and “citizen” make this perfectly acceptable to the citizens/slaves, many of whom actually take great pride in their citizenship.

LotUnsold's picture

Good stuff!  And all ultimately depemdemt on force (punishment, guns, imprisonment).  There is, at least in English Law, the notion of Consent, though that is never reagreed with each generation.  Funnily enough Mark Passio does a very good hour or so on why Authority and the lack of individual decision making is at the heart of all evil, especially when it comes to killing people in war.  It's the one that circumstances around the Roswell incident though, like me, doesn't draw any conclusions about what was going on there; just how it happened and how the stories got mangled.

VWAndy's picture

 That would be fun to watch and see who would panic. I myself dont have many honest enemies.

GreatUncle's picture

You got loads of dishonest ones? That's a joke.

Meaning understood though.