Clency, have you forgotten all that SERARA taught us concerning the US debt and world debt and how to fix it? Probably so when we run across articles like the one you excerpted statements concerning how huge debt is for America alone.
SERARA HERE: "I am a Magisterial Son. I also happen to be a financial expert the world needs me in charge of redefining the word debt. That alone will remove about half of it.
"If we define debt only what we owe because we bought a lot of goods we used a credit card to buy it, that is the true debt. It is not debt because we did not pay China all we owe it in gold, but in promissory notes called Federal Reserve notes. If you would look at a printed one dollar bill, please note at the very too it says "Federal Reserve Note." They used to say "Silver Certificate" or a long time ago, a "Gold Certificate," but no longer since President Nixon took us off the gold standard in 1974, I believe it was. The United States was the last nation in the world to maintain a gold standard until then.
To move the United States to Federal Certificates, Nixon relied on the United States currency to stay afloat regardless of how much people demanded gold to back it with real value. He made the mistake of making it Federal Reserve instead of Silver Certificates, and that is because he thought it would just settle back as THE reserve currency of the world and no one would argue further about it.
However, in 2008, the entire matter was brought up by China, and China asked the US Government to buy its goods with gold backing. The United States does not have enough gold in reserve to do that due to a shortage of gold mining deliveries. The United States then said it would deliver debt debentures in gold when it had enough gold to do that, and China flew into a rage and refused to export more than it had to to the United States. The US then decided that was find and curbed imports from China because people in the United States saw no particular reason to buy from China, and then the economy in China went sour too. China relented and went back to the old system, but the scare resulted in a deep recession in the United States and the rest of the world.
Now that is the history up until now. Trump comes along and says to China, you started this fight, but we are going to finish it, and we are going to charge a small fine on your goods call tariffs to import them from you. That sent China reeling over debt again, and this time China insisted on gold payments once more and Trump said, "in a pig's dink!" That is an old American expression which says, get it if you can catch me or find me to collect it. However, China now realizes it has a huge problem. It holds about 14 trillion dollars in collateral notes of payment by buying US bonds and not redeeming them at all. That makes the US a huge debtor nation by any standard and that is how that article you quote sounds so astounding to hear.
Finally, true US debt is about eight (-8-) trillion dollars. Six trillion of it belongs to China and the bonds it holds from the United States which are really promissory notes to pay for the US buying goods in the United States itself such as airplanes and other means of self defense. The carried Abraham Lincoln now on its way to the Gulf region to force Iran back in its cage, cost the taxpayer nothing since it was all borrowed money of about sixty two billion dollars to build it. That is an astounding amount of money, but the US defense industry rules the world yet and it will never pay debts back to an enemy but forgive itself of ever doing so and that China has learned is to its great jeopardy.
Failure of the Untied States to look upon China as a true recipient of seven trillion dollars in gold payments is ridiculous for china to expect in the first place, but it has a case it reasons is fair and equitable and makes life miserable for the American Federal Reserve. All in all, the Magisterial Mission, once it is running fairly and equitably, will press the Federal Reserve to redo its debt structure and we will back it with gold ourselves for the true amount of debt owed, and the insist that all nations accept the gold standard once again, and force Americans to live withing their means. That will reduce the debt itself by another five to six trillion dollars, and for the first time since 1974, the United States is debt free. We conclude this takes more than just imagination to understand, but it will work like a charm once we insist that the United States pay all its debts in gold and we make enough of it available, gratis (more or less a gift to the US and other countries of enough gold to pay debt off) and we then can reset the entire world federal reserve back into the black for a change.
That article inflates the actual debt by half, and that debt internet site that runs without stopping is wrong by about sixteen trillion dollars because it is based on income loss to people around the world and loss of payment in gold for most goods sold around the world. How countries like Great Britain get away with it is hard to explain, for GB holds no debt whatsoever, and that is because they pay everything in promissory notes and has no gold reserves whatsoever. Ron thought their central bank had plenty, but the Falklands War depleted the little they had and the United States has never give GB a single cent in gold for payment to it for its help in Iraq or other wars GB has helped the US win. It is never going to live down the fact that the US gave it twenty two trillion dollars after 1975, and then reneged on all other debts between the two countries. GB has every right to decide there is no real power left in the US to make up for what GB spent to be the US's best ally. The US will repay it to GB when it can afford to do so, but right now GB and France and Germany shoulder the EU debit themselves almost alone as Italy and Cyprus and Greece are getting away with murder and stand away from servicing their national debts alone. That is how bad this all is, and when it falls down as it will, there will be a depression so deep, we doubt the world can ever recover unless we move in with debt relief as a divine way to reset the priorities of world governments toward peace and prosperity once again. I am SERARA and thank you for taking that all down Ron. SERARA."
MOTHER SPIRIT = "Clency, Ron is aware of the mischief articles like this do to scare people. You and other should at least be aware we are never sure what the United States is going to do under Trump, as we know Trump studies ways to out do the worst of the debt problems it has by releasing tickets of despair to places like China, that if it fools around with challenging the US for its first place in the world and the only true reserve currency on the planet, it will suffer the consequences from the United States, and drill China out of its rightful debt collection money. But the truth is that China has overspent in its own right too and will falsify that by saying it is owed gold reserves from the United States, and if the US does not pay it in gold, it will cash in its bonds to the US to the tune of sixteen trillion dollars. The US will bulk and force the entire monetary plans of the Federal Reserve to reclassify the bonds China holds as debentures and pay it off 10 cents to the dollar as that is its true worth to the US. That results in reducing what the US owes for those bonds by 90%! It has every right to do that but China may go to war over such a move and that is what really concerns the Magisterial Sons at this point and the US has the upper hand in reality as not power on earth can touch the US military for its prowess in war games and so on.
"Therefore, the US is in the position to dictate the rules of the debt game by forcing china to realize it is indeed unfair in its trade practices by demanding the US pay only in gold for what it sells to the US. The US pays no one else in gold and it stops that now as Trump has decreed no more gold bullion for China ever again. China feels snubbed badly and that is the crux of why those two cannot get a fair trade agreement. China insists in payment in gold. The US says no. It will not be worked out easily I am sure. Mother Spirit. K"
Ron here -
Clency the entire matter of articles like this one, and they are repeated over and over all the time, is that the writers seldom understand the trade imbalance in true debt terms. I throw my hands up at the entire matter as well because how we keep track of debt is on account balances, yet the Federal Reserve keeps that tally as gold owed to such and such country. We now hold about sixteen trillion dollars in gold reserves in Kentucky, and that is a drop in the bucket for other nations still demand gold for debt in the US, and their demands are ove sixteen trillion dollars alone. add that to China and what it holds in US bonds, you can add another sixteen trillion dollars of debt. It is not true debt but insistence that we pay in gold, and there is not enough gold on Urantia to pay it with non existent gold. The Magisterial Mission will call the false inflation of debt to be useless and reward all nations with enough gold to settle the true amount of genuine debt calculated to be about six trillion gold dollars at this time in the world.
Trade balances are minor debt. The US trade balance is always negative these days because we import almost all clothing and almost all electronics and even automobiles from others. Japan is owed about six trillion in US dollars on any given day but we do not pay them in gold but in bonds and then they let it ride since they are not in the mood to ever challenge the US again in anything. China may learn this the hard way and they must decide what they want in the world besides being top, top dog beating the US in everything standard. They can do that with one hand tied behind their back soon, but why bother when dollars still pervade the institutionalization of debt payments around the world? I am still undecided to deliver any of this to anyone but you Clency, but you should at least understand that money plans by our American Federal Reserve, never lose money at all, and that includes the debt amounts we charge but pay off only in Federal Reserve Notes and not in silver or gold certificates as we always used to do.
Thank you
RON
