The federal government blew the roof off the U.S. debt ceiling — again.
The RT reports that in May 2013, the U.S. Treasury exceeded the federal legal borrowing limit of $16.7 trillion. America’s outstanding public debt is already $38.82 million above the statuary debt ceiling and now at $16,738,220,000,000.00, according to Treasury data.
Do you know how the Obama regime finances the debt and manages to stay “afloat”?
Answer: By looting federal employees’ retirement accounts.
Back in May 2011, the Obama regime first tapped into federal retirement funds.
Hesh Goldstein reports for Natural News that on May 17, 2013, America’s chief bankster, Treasury Secretary Jack Lew, announced that the Obama regime (in order to avoid default) would tap into and suspend investments into the Civil Service Retirement and Disability Fund, as well as halt the daily reinvestment of the government securities (G) fund, the most stable offering in the Thrift Savings Plan’s portfolio.
This is the same Jack Lew about whom I had asked FOTM readers in October 2011, whether you would hire this man who signs his signature in this childish easily-forged scrawl:
The G Fund is invested in interest-bearing Treasury securities (i.e. bonds) that make up the public debt. The Civil Service Retirement Fund finances benefit payments under the Civil Service Retirement System and the basic retirement annuity of the Federal Employees’ Retirement System, and those investments are made up of securities also considered part of the public debt.
Goldstein explains that:
“In other words, for you people who have cushy federal government jobs, Lew is telling you that the government controls your retirement. They own it and they own you. And you people who thought serving the New World Order was a such a good idea, are you reconsidering your loyalties now? Military and law enforcement personnel take note on how you will be treated for your subjugation of the American people, followed by the total obliteration of the Constitution.
The government says they are just borrowing the money. How much of the bailout money has been paid back by the banks? Is MERS still in existence?”
Goldstein concludes that “Iceland had the right idea” when they threw bankers like MF Global’s Jon Corzine and Jack Lew (Lew had worked in Wall Street hedge funds before he became Obama’s OMB director, then White House chief of staff, and then Treasury secretary) in prison for their crimes against their fellow citizens. “Iceland struggled for five years and is back stronger than ever. We should have told Wall Street to go to hell in 2008. We should have already arrested the CEO’s of the six megabanks which created MERS.”
MERS is the Mortgage Electronic Registration Systems, Inc., a privately held company that operates an electronic registry designed to track servicing rights and ownership of mortgage loans in the United States.
Alas, people in Iceland have a better awareness of how the world works, whereas Americans only know how American Idol works.
- “Federal Reserve governor: If large financial institution fails, there’ll be no bailout of depositors,” May 2, 2013.
- “State of Illinois wants a record of your gold & silver purchases,” April 8, 2013.
- “Obama takes first shot at retirement IRAs,” April 8, 2013.
- “How bankrupt govt steals your money in 8 steps,” April 3, 2013.
- “The Left approve of stealing your bank savings,” March 21, 2013.
- “Confiscation of bank deposits: Can it happen in America?,” March 19, 2013.
- “U.S. fed-state governments eliminating private pensions, retirement plans,” Nov. 27, 2012.
- “Retirees and savers are the Feds’ sacrificial lambs,” Sept. 7, 2012.
- “Why the Collapse of MF Global Should Frighten You,” Nov. 23, 2011.