US FOREVER CREDIT CARD

Your New Credit Card
It is Magical
You Like It

How would you like to have a credit card and you could charge anything on it you want? Don’t worry about the limit. It will just be increased any time you reach the limit. Just ask.

Let’s call it the “US Forever” card.

When you charge something on it, it will increase the amount you owe. Each month you will have to pay interest on your debt. But at the end of the year the credit card company will give you their profit for the year. Would you be inclined to control your spending? Why would you? Go ahead buy $1,000,000 house and the $350,000. Anything else – just buy it.

Believe it there is such a “US Forever” card.

What is the catch you ask? I will tell you.

It is called the US Treasury borrowing. The US Treasury sells its increase in debt every month except a very few months when it collects more than it spends. The US government has increased its debt every year since the year 2000 and before.

Anybody can buy US debt. It’s called a bill, note or bond, depending on the length of the debt. Citizens, banks, foreign countries (try China) buy what ever amount they have an appetite. Each year the US Treasury sells more debt than all those groups buy.

Call the Federal Reserve. It will buy all the US Debt that nobody else wants. Where does the Federal Reserve get its dollars? Why guess what, it just prints it. That is right the Federal Reserve prints the US currency. It accommodates whatever the US Treasury needs. Yes, the Federal Reserve returned profits of $88,500,000,000 to the US Treasury in 2020. But that was less than 17% of the interest the US Treasury paid. The additional interest was just added to the Debt – no problem.

What a deal. But the catch?

There are two catches. 1) the economy is flood with excess dollars which increases inflation and what you pay. 2) In 20 years more or less at the rate of increase in US debt, the interest alone will be more revenue collected by the US government now. Now, today every single US citizen share of US debt is $67,000, a family three $200,000. This isn’t the plot of some Orwellian novel. It is real.

Not a citizen, then don’t worry you will receive from the government what it takes from the US citizen or just add it the bill to be paid later.

Voters – Demand very candidate stop the spending addiction.