Debt and America, the two seem to go hand in hand. The current debt of the United States government sits at 18.6 trillion dollars and rising by the minute. As for the citizens of these United States, the average American has over 7,000$ in credit card debt. The average homeowner owes about 164,000$ to banks on their mortgages. The average student has nearly 29,000$ in student loan debt. Over the last 6 years, the unemployment rate of college student graduates has fluctuated between 26 – 30%. The national unemployment rate is 10.5%. It is no secret in 2015 that America is a nation of debt. In 2015 America the average citizen is drowning in debt.
According to FederalReserve.gov only 1.39 trillion dollars exists in circulation. However the United States of America has 18.6 trillion in debt. This means that only 7.4% of all money exists in physical form. More then 92% of all ‘money’ literally does not exist! 92% of all money exists only in cyber space as numbers transferred computer to computer. “If there were no debts in out monetary system, there would not be any money” – Marriner Eccles Govenor of the Federal Reserve 1941 –
This past August a survey was conducted and the results were astounding. According to the polls over 80% of Americans admit they are burdened by some form of debt. Over 70% of those same people said they could not afford their lifestyle without the active use of debt. It is estimated that each month 43% of all households in America spend more money then they make. Approximately 41% of all Americans either have an active medical expense or hold medical bill debts. Additionally, as of 2014 there are 1.17 million foreclosed homes in America. Disheartening considering that Amnesty International; and others cite that almost 3.5 million Americans will battle homelessness each year.
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson –