Excellent work! A must-see!
– Global Financial Crisis: A World In Debt (Demonocracy):
World governments have borrowed massive amounts of money to live beyond their means. Here are the world’s largest economies, and how much they borrowed.
“There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt. ”
– John Adams
“I place the economy among the first and most important virtues, and public debt as the greatest of dangers.”
– Thomas Jefferson
“The one aim of these financiers is world control by the creation of inextinguishable debts.”
– Henry Ford
“There is no means of avoiding the final collapse of a boom brought about by credit (debt) expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit (debt) expansion, or later as a final and total catastrophe of the currency system involved.”
– Ludwig von Mises
‘Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren,” Obama said in a 2006 floor speech that preceded a Senate vote to extend the debt limit. “America has a debt problem and a failure of leadership.’
– Barack Obama (ROFL!)
“When a country embarks on deficit financing and inflationism you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
– Ron Paul
“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. … This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard. ”
– Alan Greenspan
“Capital must protect itself in every way… Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principle men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd.
– J. P. Morgan
“The dollar represents a one dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy Government Bonds from the U.S. Treasury…and has created out of nothing a … debt which the American people are obliged to pay with interest.”
– Wright Patman