Author Archives: David

About David

Personal background: I was the owner / operator of a small corporation for many years which was sold to a telecommunications company. My businesses have included: Mortgage Banking, Commercial Real Estate, Land Development, Software Development and consulting. My Investment Analysis Software received favorable reviews in several national publications including PC Magazine and the Wall Street Computer review. Currently, I hold a PMP and do technical project and program management for various corporations.

How the Permanent Political Class Rip You Off

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by DAVID BROWN | CLEARNFO.com | MARCH 21, 2012

Just a few examples…

On February 21, 2003, Rahm Emanuel suddenly sold off all of his Freddie Mac stock (~$250,000 worth) just days before a 10% drop in share price. It wasn’t until late spring until the rest of the public realized that there was a criminal investigation of its senior executives and its earnings had been inflated and would need to be restated in billions of dollars. This Freddie Mack accounting scandal was much larger than Enron but most never knew about it thanks to our Government Media.

TARP Bailout 2008: Senator John Kerry started buying lots of troubled bank stocks: $550,000 in Citigroup in early and mid-October, $350,000 in Bank of America shares. Days later on October 28, it was announced that Citigroup was getting $25 Billion from TARP and $35 Billion from the Targeted Investment Program. On November 4th, it was announced that Citi would get loan guarantees that could total $277 billion from the Treasury, Fed and FDIC.

Big Pharma: Senator John Kerry was on the committee overseeing the prescription drug plan. In all John Kerry and his wife made 111 transactions for their own personal benefit in pharmaceutical companies and health insurance companies in 2003…all of which were great stock picks netting the couple millions in profit.

On March 18, 2008, Speaker of the House Nancy Pelosi and her husband, Paul made the first of three purchases of Visa stock totaling between $1 million and $5 million. Why don’t we know the exact amount? Because congress is only obligated to give ranges. This was no ordinary stock purchase. This was the most popular and lucrative IPO in American history. Prior to this Visa had been privately held by a group of banks. Everyone else had to wait until March 19 when the stock would be available to the public but not Nancy. Even after the 19th getting access was virtually impossible for the average citizen. Almost all the stocks were going to institutional investors and were oversubscribed –too many buyers—only special, hand-picked customers got these coveted shares at the opening price of $44. Two days later, after public trading began, the stock price jumped to $65 a share. In short, Pelosi made a 50% profit on their investment in a matter of two days. On June4, 2008, Visa stock closed at $85 a share.

Somehow the Speaker of the House and her husband happened to get these IPO share barely two weeks after a threatening piece of legislation against Visa from the House of Representatives.

The structure supporting cherished beliefs…

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by DAVID BROWN | CLEARNFO.com | February 20, 2010

All our holy water is based on epistemic systems which underlie various nouns and are supported by basic assumptions which are beyond critical reason.

Where…

Holy Water = Cherished beliefs

Epistemic System = Epistemology is the study of truth, or answers the question… at what point does something become truth, your criteria for truth, bull-shit detector or your truth system, ergo epistemic system. Everyone has a system to analyze data and this is called your epistemic system

Various nouns = variables like in algebra. The point here is that these are all “objects” either real, virtual, imagined, etc. These are words or containers for meaning.

Basic Assumptions = All logical arguments as in an epistemic system must first start with an assumption, for example If A = B and B = C, then A = C. So the assumption upon which this entire logic depends is that A= B, this is also called the ‘a priori’. If your first assumption is wrong (A does not equal B) then all your logical conclusions are suspect and cannot be trusted.

We can never prove the original or first a priori, it is just a given upon which all subsequent reason depends.

Operation Gladio A & B for your pleasure …

4 Replies

March 15, 2014 at 3:21pm

Below, you will find some good research material on Operation Gladio A & B. This will open your eyes, straighten your hair and curl your toenails as you discover the true nature of the clandestine Gladio operations that have been on going since the end of WWII. The scales will fall from your eyes and much of what you see on the news today (State or Independent) will start to make sense.

On the first link below you will find a very interesting discussion by the most gagged woman in the history of America, Sibel Edmonds. She has given up millions of dollars in bribes from the government to bring this information to you for free. Information that the Government does not want you to know.

Sibel answers questions …
http://www.corbettreport.com/interview-616-sibel-edmonds-answers-questions-on-gladio-b/

If you are not familiar with Gladio, you might want to get a better background on this topic. I would suggest the following sequence of four interviews below with Sibel Edmonds and James Corbett on Gladio …

Gladio Part One:
http://www.corbettreport.com/interview-595-sibel-edmonds-on-nato-terrorism-911-and-drug-running/

Gladio Part Two:
http://www.corbettreport.com/?p=6819

Gladio Part Three:
http://www.corbettreport.com/?p=6875

Gladio Part Four:
http://www.corbettreport.com/?p=6934

An Introduction to Gladio B – James Corbett on Breaking The Set

James Corbett of The Corbett Report joins Abby Martin of Breaking The Set to discuss “Gladio B,” the continuation of the clandestine NATO program, Operation Gladio. We talk about the history of Gladio and the transition of the program into a campaign to fund and foment Islamic terrorism in the Central Asia/Caucasus region. For more information, please consult the “Gladio B” video series from earlier this year available from CorbettReport.com and BoilingFrogsPost.com.
http://www.corbettreport.com/an-introduction-to-gladio-b-james-corbett-on-breaking-the-set/

Interview 604 – Sibel Edmonds on Turkey, the Hood Event, Israel and Gladio B

Sibel Edmonds of BoilingFrogsPost.com joins us for the third part of our series on Gladio B, the NATO-directed effort to radicalize, enable and protect Islamic terrorists to further their own geopolitical ends. In this edition we discuss the Hood Event, the Gladio A / B transition, Israel’s role in funding both sides of the regional conflict, and how the Kurds have been used and abused by every would-be regional power in the area. Sibel also takes questions on Ayman al-Zawahiri and begins to discuss Huseyin Baybasin (aka “Europe’s Pablo Escobar”) and the NATO-protected heroin operations in Europe.

http://www.corbettreport.com/interview-604-sibel-edmonds-on-turkey-the-hood-event-israel-and-gladio-b/

Interview 598 – Sibel Edmonds on Gladio B, Protected Terrorists and Stifled Investigations

Sibel Edmonds joins us for the second part of our series on Gladio B, the NATO-directed effort to radicalize, enable and protect Islamic terrorists to further their own geopolitical ends. This time we discuss recent events, like the US Embassy bombing in Ankara and the catch-and-release of Osama Bin Laden’s son-in-law in Turkey, before going back to the 1990s for more on the roots of the Gladio B operation and its tie-in to stories like that of Yasin al-Qadi. We shine a light on the FBI agents who were working on shutting down terrorist finance networks, and how they were shut down by elements of the State Department and the CIA. We also answer comments and questions from listeners of our first conversation.

http://www.corbettreport.com/interview-598-sibel-edmonds-on-gladio-b-protected-terrorists-and-stifled-investigations/

Gladio Revisited (video)
As one of the most thoroughly-documented examples of a decades-long program of officially-sanctioned false flag terror, Operation Gladio remains a woefully under-reported piece of the War on Terror puzzle. Today we go behind the trite summarizations of this program to look at it in-depth, examine its roots, and discover how it is continuing to operate right through to the present day.

http://www.corbettreport.com/episode-256-gladio-revisited/

Interview 582 – Tom Secker on Operation Gladio

23 years after it was first revealed to the public in the Italian Parliament, few are today aware of the history of Operation Gladio, the stay-behind operation that was seeded by intelligence agencies in Western Europe at the end of WWII and which was responsible for numerous terrorist attacks and outrages in the ensuing decades. Fewer still are aware of the details of this program, where it originated, who was behind it, and what it teaches us about the nature of such operations. Join us today on The Corbett Report as we talk with Tom Secker of InvestigatingTheTerror.com about this much-neglected piece of false flag history.

http://www.corbettreport.com/interview-582-tom-secker-on-operation-gladio/

And from the BBC:

Operation Gladio
The Hidden History of U.S. Sponsored False Flag Terrorism in Europe

“Deception is a state of mind and the mind of the State” – James Jesus Angleton, Head of CIA Counter Intelligence 1954-1974

Originally aired on BBC2 in 1992, ‘Operation Gladio’ reveals ‘Gladio’, the secret state-sponsored terror network operating in Europe.

This BBC series is about a far-right secret army, operated by the CIA and MI6 through NATO, which killed hundreds of innocent Europeans and attempted to blame the deaths on Baader Meinhof, Red Brigades and other left wing groups. Known as ‘stay-behinds’ these armies were given access to military equipment which was supposed to be used for sabotage after a Soviet invasion. Instead it was used in massacres across mainland Europe as part of a CIA Strategy of Tension. Gladio killing sprees in Belgium and Italy were carried out for the purpose of frightening the national political classes into adopting U.S. policies.

Director Allan Frankovich

http://www.informationliberation.com/?id=16921

You can also watch this on YouTube, just search for the BBC documentary on Gladio in 1992

Opus 018: How to change the system one trial at a time…

July 26, 2013 at 10:56pm

Despite what the judge may tell you, your constitutional duty is to judge not just the guilt or innocence of the accused but to more importantly judge the constitutionality of the law. Don’t be duped by the instructions of the judge.

The only Supreme Court Justice to ever be impeached–Samuel Chase– was impeached for what our Judges do on a regular basis in our court systems today.

What can you do to help? If called for jury duty, your constitutional duty is not just to judge the accused but the law(s) under which the accused has been charged. Your constitutional duty is to judge both the constitutionality and the fairness of the law. Judges consistently take this right from you due to your ignorance of the law. Do not take their bait or their improper instructions. Protect your rights and your fellow citizen’s rights.

DAs consistently over-charge to scare the accused so that they will take a plea to a lesser crime. Never take a plea bargain to a lesser charge (unless you are guilty); always demand your 6th amendment right to a trial by jury.

From the link below:

“[In] 1795, Justice James Irdell declared: “[T]hough the jury will generally respect the sentiment of the court on points of law, they are not bound to deliver a verdict conformably to them.” In 1817, Chief Justice John Marshall said that “the jury in a capital case were judges, as well of the law as the fact, and were bound to acquit where either was doubtful.”

In more recent times, the Fourth Circuit Court of Appeals unanimously held in1969:
If the jury feels that the law under which the defendant is accused is unjust,or that exigent circumstances justified the actions of the accused, or for any reason which appeals to their logic and passion, the jury has the power to acquit, and the courts must abide that decision.

Three years later, the D.C. Circuit Court of Appeals noted: “The pages of history shine on instances of the jury’s exercise of its prerogative to disregard uncontradicted evidence and instructions of the judge.”
In a 1993 law journal article, federal Judge Jack B. Weinstein wrote: “When juries refuse to convict on the basis of what they think are unjustlaws, they are performing their duties as jurors.”

6th Amendment:

In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury of the State and district wherein the crime shall have been committed, which district shall have been previously ascertained by law, and to be informed of the nature and cause of the accusation; to be confronted with the witnesses against him; to have compulsory process for obtaining witnesses in his favor, and to have the Assistance of Counsel for his defense.

http://disinfo.com/2010/03/juries-are-allowed-to-judge-the-law-not-just-the-facts/

Opus 017: The Reality of our criminal ‘Justice’ System

On the nature of Criminal Justice in America:

The real problem is not with the laws but with our justice system. It is not what it appears to the outsider looking in. In fact many on the inside may not be aware of all the deals that are constantly being made. Many news pundits blame judges but this really misses the point. Let me give you an example of how 90% of the cases are handled and why.

Who are the players?

·        Judge (The editor of the story)
·        Police, Detective, etc. (prosecutor)
·        District Attorney (prosecutor)
·        The Plaintiff (prosecutor)
·        The Accused (defense)
·        The Accused attorney (defense)
·        The Jury if there is one (the ones in the dark listening to a story that is usually heavily edited by the judge)

What are their motives?

·        Judge – wants to clear his docket and get on to the next case. Has a god complex
·        Police…want a conviction but not willing to do all the real work necessary to prove up the evidence.
·        DA: Wants to fluff his resume and run for office again with a 95%+ conviction rate
·        Accused: Terrified and willing to make a deal

Given the above motives, this is what happens in 90% of all criminal cases: Plea Bargain. A plea bargain is where the accused pleas to a lesser crime for lesser time if he will agree to plead guilty. This is usually a lie because the plea may be for some crime that was not even committed.

What does everyone get out of this grand deception aka lie?

·        Judge: Gets a conviction and gets one more case off his docket
·        Police: don’t have to spend a lot of time investigating
·        DA: gets a conviction which makes his resume look good
·        Accused: may or may not be guilty. No one cares except him or her but he gets a lesser penalty and a lesser charge so he is relieved and may wonder if he did the right thing if innocent.
·        The Defense attorney gets paid and on to his next case. Can show his value by getting the crime/sentence reduced.

The cake is baked and everybody is happy!

This lie is sealed when the judge asks the accused if he was given any enticement for pleading guilty. The accused swears in court that he was not. All the players in this charade know this is a lie, but this is the real world. This is not CSI, or any other made for TV hoax on the gullible American public.

So…where is justice in all this? No one cares. Sorry.

If the accused was guilty, then he gets off with a lesser charge. If the accused was innocent then an innocent person was coerced into pleading guilty. Truth and justice have no play here.

Part 2:

If you care to explore a bit deeper here are some more considerations.

1) There is little to no consideration for finding the truth or for providing justice. This system runs on the participant’s resumes, ascendancy, money and politics. Truth, justice and the American way have no room here.

Most of the accused have little to no money and thus are totally at the mercy of the judge, DA, police and his own defense attorney Just to get a decent attorney interested you must have $10,000 in cash laying around that you don’t need. After the $10K is spent the bills usually accelerate and the judge, DA and everyone else is fully aware of your ability to fight. If they sense weakness then all bets are off and you become the cause of their effect and everyone knows this.

What this means is that our justice system is generally up for sale and you can get the amount of justice you can afford.

2) One of the great powers of the judge is the ability to edit the story. As most people know, if you can determine what is told and what is left out you can make a story say almost anything. So the Judge is the storyteller here for the jury. The jury is clueless and usually has no idea that they have been denied all the facts to make a good judgment.

3) Politics also come into play here. If the accused or the plaintiff has friendly, financial or political connections with important people, this will determine how the story is edited.

3) Polygraph tests: Polygraphs are extremely accurate if you ask most people in the polygraph industry but are at best 70% accurate according to research I’ve seen. Polygraphs are also very easy to beat if you do a little research prior to taking a test. Polygraphs are not admissible in court simply because they are NOT accurate– but are routinely used to coerce a confession or used as leverage under the false promise that the accused (person of interest) will not face indictment. This is a ruse to gain more true or false incriminating information that will ultimately lead to a conviction. The person and company doing the polygraph are usually under contract with the county which represents: the Judge, the DA, the Sheriff, Police, etc. The polygraph company is at risk of losing this contract if they don’t please their pay masters and so it is never a good idea to take a polygraph provided by the prosecution.

4) If you are innocent, never talk to the police and never give any information to anyone without competent legal representation. The reason for this is that the prevailing motive of the justice system is to convict and close cases. You will be under great pressure and feel obligated to absolve your self and prove your innocence but if you violate this fundamental rule, you will be very sorry. You don’t want to become another statistic on their resume. Always be pleasant and respectful and just explain that you want to protect your rights and you therefore require an attorney.

I have mixed thoughts about the ACLU because I disagree with most of what they do. However, with the deck stacked against anyone who finds themselves caught up on this assembly line of easy and convenient convictions it is nice to see the ACLU protecting the rights of those who don’t have the financial means to put up a just defense.

If you have ever observed what happens to a weak chicken who has been pecked to death in a chicken coup you will get a good idea what the accused face here in the USA if you don’t have the financial means to hire and pay for a good attorney, not to mention the deposition and court costs.

This, my friends is the current state of our fine justice system here in the good old USA. So, the next time you see someone do a perp-walk in an orange jump suit, just realize that most of these poor slobs had a court appointed attorney and were used to fluff several resumes.

For additional reading on this topic please see Paul Craig Roberts’ excellent book entitled ‘The Tyranny of Good Intentions’.

Opus 016: Do we have a democracy or a republic?

Opus 015: Sapir-Warf hypothesis…

May 8, 2011 at 1:13am

Sapir-Warf hypothesis – George Orwell, Linguistic relativity… A good example is the modern use of the term Liberal. Liberals are anything but liberal. They want large, powerful governments that control every aspect of our lives but of course this control aligns with the liberal theology. An example would be labor unions wherein you must join or at least pay dues and these dues are automatically deducted from your pay check. They are against the secret ballot; read card check. These dues are spent many times against the will of the dues payer for agendas the union member may totally abhor. This is anything but liberal. Likewise in our “liberal” universities, they are very dogmatic. Either you believe in their “well established facts” or you will be ostracized, rejected, ejected and never receive tenure or a lucrative government grant. Just look at anyone who questioned man-made global warming after Al Gore’s Oscar-winning inconvenient truth. The pseudo intellectuals running our universities, media and news organs are mostly thought Nazis. Their fundamental unexamined assumption is that they know best.

Opus 014: The Hoax of Materialism

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by DAVID BROWN | CLEARNFO.com | June 22, 2013

. . . materialism is not your friend.

The Hoax of Materialism | The Machine Wins (left); The Human Spirit Wins (right)

It’s been said you know a man by his choices. One of our most important and fundamental choices is a choice between a belief in materialism, or a belief that something more exists than is presented to us in the physical world; if you choose materialism you have unwittingly established a partnership with ‘The Machine’ and your future will necessarily be a stark, gray, dry, dusty moonscape devoid of the juice of life or meaning; because after all, materialism tells us we are merely cause and effect of the material world. Such is the dreary life of the man who chooses materialism to the exclusion of all else. Mistaken as truth or science, the belief in materialism provides a naïve and short-sighted pathway to the religion of death where concepts like infanticide become a reasonable choice for family planning.

In the material world there is no right or wrong; no good or evil just cause and effect. We have shirked our responsibility; we fail to take ownership of our actions, and so we are turned over to our own devices and sent strong delusions by the machine.

Like cackling hyenas over a recent kill, we feast at the hoax sold to us as sexual freedom, we choose death over life, debauchery over love and are left howling into the vast existential abyss of meaninglessness. The machine wins.

Wikipedia: Materialism holds that the only thing that exists is matter or energy; that all things are composed of material and all phenomena (including consciousness) are the result of material interactions. In other words, matter is the only substance, and reality is identical with the actually occurring states of energy and matter.

“Then came our Quantum theory, which totally transformed our image of matter. The old assumption that the microscopic world of atoms was simply a scaled-down version of the everyday world had to be abandoned. Newton’s deterministic machine was replaced by a shadowy and paradoxical conjunction of waves and particles, governed by the laws of chance,rather than the rigid rules of causality. An extension of the quantum theory goes beyond even this; it paints a picture in which solid matter dissolves away, to be replaced by weird excitations and vibrations of invisible field energy. Quantum physics undermines materialism because it reveals that matter has far less ‘substance’ than we might believe. But another development goes even further by demolishing Newton’s image of matter as inert lumps. This development is the theory of chaos, which has recently gained widespread attention.”
— Paul Davies and John Gribbin, ‘The Matter Myth’,Chapter 1

“As a man who has devoted his whole life to the most clear headed science, to the study of matter, I can tell you as a result of my research about atoms this much: There is no matter as such. All matter originates and exists only by virtue of a force which brings the particle of an atom to vibration and holds this most minute solar system of the atom together.We must assume behind this force the existence of a conscious and intelligent Mind. This Mind is the matrix of all matter.”
— Max Planck, ‘Das Wesen der Materie’, 1944

Plato, the Sophist: “Some of them drag down everything from heaven and the invisible to earth, actually grasping rocks and trees with their hands; for they lay their hands on all such things and maintain stoutly that that alone exists which can be touched and handled; for they define existence and body, or matter, as identical, and if anyone says that anything else, which has no body, exists, they despise him utterly, and will not listen to any other theory than their own.”

More on Materialism from James Corbett (10/02/2023): I READ YUVAL NOAH HARARI’S BOOK (SO YOU DON’T HAVE TO!)

The Language of Creation: Cosmic Symbolism in Genesis by Matthieu Pageau

September, 2022: Mattias Desmet provides additional insights into this topic: MATTIAS DESMET, PHD (OUTTAKE) ON DEL BIGTREE’S HIGHWIRE

Science Unshackled: Restoring Causality in a World of Chaos Paperback – November 9, 2023 by Matthew Ehret (Author)

Additional Reading from ClearNFO:

Contact: ClearNFO on MeWe, Gab, VK, BitChute; or via email at ClearNFO@gmail.com

Opus 012: My Monkey Thought Experiment . . .

March 21, 2012 at 11:48pm

During thought experiments, I’ve often turned to my fictional idea of a poor little monkey being chased through the jungle by a tiger. Heart pounding, looking over his shoulder and running for his life; any false step or missed tree branch could be the one mistake meaning the grisly end to this little fellow. It’s a real horror show for me since I can easily identify with the monkey. Nothing focuses the mind like fear. I find this scenario useful because it seems to strip away most of the variables and the multiple levels of abstraction most of us face in the complicated society we work our way through today. Life is not as simple as a monkey running from a tiger in a jungle but I think this anecdote captures something special about the human condition we all face. This story captures most of the fundamental elements contained in our daily fight for survival, and can serve as a tool to advance our understanding when distilling the complex down to the understandable.The monkey is completely outmatched in terms of power and force, and both the monkey and the tiger are completely aware of this simple fact. The monkey is terrified and has everything at stake; in fact, he has the most to lose. And so he is completely committed to the task at hand; he is focused and will do whatever it takes to succeed. He will do the best job he is capable of doing at that particular point and time. In human terms, this is not a practice session, proof of concept or a computer game. This is real. This is up close, in your face and very personal.

We could say that the monkey has a primary interest in the outcome and the tiger has somewhat less than a primary interest since if he doesn’t catch this monkey he may go hungry but most likely won’t lose his life in a grisly act of violence and maintains the future opportunity of catching another monkey or maybe a nice Wild Boar later on.

So, if the monkey is primary, his mother or any immediate dependents might be secondary and the other members of his troop might be considered tertiary, and so on. We might call primary p1, Secondary p2, Tertiary p3 and everyone else p(n); where “n” is a variable depending on how far removed one’s interest is from the nexus of our story about our monkey, Mr. Primary.

While those in his troop who are not in the primary position might be interested in the outcome, it is doubtful that they would be as focused or animated by the immediacy of the moment or fear or concern to assure a positive, beneficial outcome as Mr. Primary.

So when I look at some of the complex problems facing our country today, I think about our little monkey story and how it might be used to see clearly through the foggy layers of unintelligible political, social and financial decisions & agendas that smother us in controversy. It seems that the further we get away from the primary, the more waste and malfeasance we create for ourselves and our fellow citizens; since those who are not primary, are not as focused on a positive outcome as those of us who have so much at stake.

Opus 011: Fractional Banking System explained

December 28, 2012 at 8:41pm

I’m assuming that most of us learned about fractional reserves in Jr. High or high school. I think that Jr. High is now called Middle School and Libraries are now called Learning Resource Centers but I digress. Anyway, most of us learned about one way banks create money out of thin air called fractional reserves and if you were like me, I was taught this was a good thing.

To refresh our memories, I thought I’d explore how this works yet again but this time I’d add the front end of this equation where a large part of this money creation occurs.

So here’s what happens:

The US Government calls up the Federal Reserve (which is not Federal and has no Reserves) and says we want to sell $10 billion in T Bonds. The Fed says okay you have a deal. The US Government sends the Fed some pretty paper that has the number $10 billion printed on it and then the Fed issues $10 billion in Federal Reserve notes and trades this for the bonds. The money the Fed created didn’t exist an instant before this transaction and was created out of thin air. And in fact they don’t even bother to print these Federal Reserve notes, they just make a few entries on their computer and presto $10 billion dollars shows up in a US Government bank account. So you can see that money was created out of debt and in fact money is debt and debt is money.

When the Government bank receives the $10 billion, the bank can now loan out 90% of the $10 billion (or $ 9 billion) that was deposited to other customers and charge interest. The 10% of the $10B must stay in the bank because of fractional reserve requirements.

Now let’s say that the bank loans out the $9 billion to a customer and this customer takes this money and deposits it into yet another bank. Using the same formula, this bank can loan out 90% of the 9B or $8.1B…$7.29B… and so it goes theoretically forever. The practical limit in the real world however is about 9X the original amount or $90B has been created from the first $10B borrowed by Uncle Sam.

Now notice that all this money is created from debt so money in our current monetary system is debt.

If you look historically at the Money supply and debt, the curves are the same. Every single dollar in your wallet is owed by someone to someone. Debt is money and money is debt. But there is a problem here and that problem is the interest that banks charge. There’s never enough money supply to pay the interest since debt = money. What this means is that some one has to go bankrupt and the banks take ownership of their real assets. It’s like playing musical chairs except when the music stops someone goes bankrupt.

Last time the national debt was paid off was in 1835 when Andrew Jackson shut down the central bank that preceded the Federal Reserve.

So what gives all this new money value? It steals its value from the money that already exists. In fact our money has been devalued this way by 96% from 1913 – 2007.

Federal Reserve Modern Money Mechanics

Fractional reserve banking system

http://www.rayservers.com/images/ModernMoneyMechanics.pdf