Letter: Federal debt is a form of theft
The Congress and the Executive go round and round about raising the current debt level.
With a debt level estimated to be in excess of $50 trillion, both funded and unfunded obligations, every dollar of debt that is allowed is a form of theft. First, it will never be paid. So instead the government will slowly or rapidly inflate away its value so that any part of the debt is paid with less than the original. This steals from the debt holders even though they do get some interest.
Due to the reserve currency status of our money, it steals from all who hold our dollars on a worldwide basis. This would include a small businessperson who might accept U.S. dollars for a service in some far third-world country and who might expect it to be more valuable than it is. It is theft from all who are on a fixed income and who depend on Social Security for part or all of their support. It is even theft from those who receive free support from welfare and food stamps. It is theft from those who save as the value goes down rather quickly. As an example, just since 2000 the dollar has fallen in value 25 percent.
It is theft from every person who saves for retirement or has a retirement account.
It is theft from all except the Elite Ruling Criminal Class who have been embezzling, swindling and extorting from the American people since 1914 when the Federal Reserve became functional. It has been enhanced by the removal of the dollar from gold backing and silver from our coinage. Every single person in this nation is being swindled by this debt and by the fact that this worthless paper is backed by nothing but dishonesty of a corrupt, on-the-take government and its fascist/Marxist supporters on Wall Street and the Banksters around the country. Yes, of course, there are others. These criminals have instituted a new system, an American fascism on this nation where the losses are passed on to the people, the taxpayers, and the profits are passed on to the Banksters or corporate elite. The losses, if too large, are bailed out by the government, also at taxpayers’ expense. This criminality must be stopped. This international consortium of gangsters must be brought to heel. It must stop and it must stop now.
Peter Courtenay Stephens