AT: The great federal-debt Ponzi scheme

Charles Ponzi in 1920 (Wikipedia)

COGwriter

The USA continues to increase its official debt.

Back in 2009, then US President Barack Obama stated that the deficit spending at that time was “unsustainable” (https://joewilson.house.gov/media-center/press-releases/president-obama-do-as-i-say-not-as-i-do May 15, 2009) yet the USA has continued down that path.

Debt will end in disaster for the USA.

In 2021, Asia Times reported the following:

The great federal-debt Ponzi scheme

July 5, 2021

As long as the Fed is willing (and the market allows it) to buy arbitrarily large amounts of government debt, the price of US government debt is whatever the Fed says it is. It’s like the pump part of a pump-and-dump scheme in the stock market, except without the benefit of an exit strategy.

This Ponzi game can continue until inflation rises to the point where investors flee the Treasury market, yields soar and the economy falls back into recession. If the Fed and Treasury are willing to stake the credit of the United States of America on this game, it can last for a while. No matter how big a player you are, though, no one will take your marker at the craps table forever.

Without exaggeration, the US federal debt market is the most manipulated market of importance in the world at this writing. …

I examined seven important categories of “core” inflation (leaving aside energy and food prices): shelter, medical care, new cars, used cars, durable goods, nondurable goods, and urban transportation. The “breadth” index is simply the number of those indices where inflation is two standard deviations above the twenty-year mean, and the present score is six out of seven. The “surprise” index is the average of the standard deviation of each component relative to the mean: on average, year-on-year inflation of these components is four standard deviations above the mean. In other words, we have the highest and broadest-based inflation in twenty years.

There’s nothing transitory about this. On the contrary, inflation will get worse, as the bubble in home prices feeds into consumer inflation. The median US home price at sale rose 23% year-on-year as of May, according to the National Association of Realtors. https://asiatimes.com/2021/07/the-great-federal-debt-ponzi-scheme/

Yes, despite its size and impact on the world economy, the USA cannot continue to indefinitely do what it has been doing regarding debt and financial manipulation.

The amount of official federal USA debt is expected to currently be about $35 trillion. And, yes, inflation has gotten worse since that 2021 article came out.

As far as being a ‘Ponzi’ scheme by the US Treasury, here is information about Charles Ponzi:

Charles Ponzi (/ˈpɒnzi/, Italian: [ˈpontsi]; born Carlo Pietro Giovanni Guglielmo Tebaldo Ponzi; March 3, 1882 – January 15, 1949) was an Italian swindler and con artist in the U.S. and Canada. His aliases include Charles Ponci, Carlo, and Charles P. Bianchi.[1] Born and raised in Italy, he became known in the early 1920s as a swindler in North America for his money-making scheme. He promised clients a 50% profit within 45 days or 100% profit within 90 days, by buying discounted postal reply coupons in other countries and redeeming them at face value in the U.S. as a form of arbitrage.[1]:1[2] In reality, Ponzi was paying earlier investors using the investments of later investors. While this type of fraudulent investment scheme was not originally invented by Ponzi, it became so identified with him that it now is referred to as a “Ponzi scheme.” His scheme ran for over a year before it collapsed, costing his “investors” $20 million (inflation adjusted to $250 million as of 2020). (Charles Ponzi. Wikipedia, accessed 07/05/21)

Basically, a Ponzi scheme is to pretend something is more valuable than it is in order to con others to support it financially.

With Treasury manipulation and military power, along with corruption in international governments, the USA has been able to pull this off for a lot longer than Charles Ponzi could.

Notice that event the US Treasury secretary sees problems that she is not publicly willing to admit:

Janet Yellen Quietly Admits Serious U.S. Dollar Collapse Fears …

U.S. Treasury secretary Janet Yellen has warned countries around the world are moving away from the U.S. dollar—as the spiraling $34 trillion U.S. debt pile fuels fears of collapse—with bitcoin and crypto slowly chipping away at dollar dominance.  … Yellen has said she fears U.S. financial sanctions will reduce the role of the dollar around the world …

“We have very powerful sanctions that are available because of the important role of the dollar in international transactions,” Yellen told U.S. lawmakers on the House financial services …

“The more we have used sanctions, the more countries look for ways to engage in financial transactions that don’t involve the dollar.”

The U.S.-led western financial sanctions “will have a certain impact on the international status of the U.S. dollar,” Zhao Qingming, a Beijing-based financial expert told the China newspaper Global Times. “In the short term, the position of the U.S. dollar should remain stable, but over time, its position may weaken.” https://www.forbes.com/sites/digital-assets/2024/07/14/janet-yellen-quietly-admits-serious-us-dollar-collapse-fears-as-trump-primes-bitcoin-for-a-4-trillion-price-surge/

Furthermore, the time will come, according to Bible prophecy, when the nations of the world will no longer accept the pledges (US Treasury Bills and Notes) of the indebted one:

2 Then the Lord answered me and said:

“Write the vision
And make it plain on tablets,
That he may run who reads it.
3 For the vision is yet for an appointed time;
But at the end it will speak, and it will not lie.
Though it tarries, wait for it;
Because it will surely come,
It will not tarry. (Habakkuk 2:2-3)

6 “Will not all these take up a proverb against him,
And a taunting riddle against him, and say,
‘Woe to him who increases
What is not his — how long?
And to him who loads himself with many pledges’?
7 Will not your creditors rise up suddenly?
Will they not awaken who oppress you?
And you will become their booty.
8 Because you have plundered many nations,
All the remnant of the people shall plunder you,
Because of men’s blood
And the violence of the land and the city,
And of all who dwell in it. (Habakkuk 2:6-8).

Please pay attention to the fact that that above is a prophecy for the appointed time of the end–essentially the time of the Great Tribulation (Matthew 24:21; watch also Great Tribulation: 2026 or 2027?). The USA has been accumulating pledges in the form of US Treasury bonds and notes, and is the most indebted nation of all time. It is descendants of Israel, like the USA, that are prophesied to have debt issues with foreigners if they turn from God’s laws (cf. Deuteronomy 28:43-44)–that is consistent with Habakkuk 2:6-8. The above prophecy is NOT a reference to the nation calling itself Israel as it has nothing compared to USA debt.

Notice that the prophecy in Habakkuk says what will happen is so bad, that people should run who read it. That is, they should seriously consider what this means and take the appropriate steps.

Foreign creditors will rise up.

The Bible clearly warns that an indebted people will be destroyed by people whose language that they do not understand, and that the destruction will be fairly total:

43 The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. 44 He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail. 45 Moreover all these curses shall come upon you and pursue and overtake you, until you are destroyed…47 “Because you did not serve the LORD your God with joy and gladness of heart, for the abundance of everything, 48 therefore you shall serve your enemies, whom the LORD will send against you, in hunger, in thirst, in nakedness, and in need of everything; and He will put a yoke of iron on your neck until He has destroyed you. 49 The LORD will bring a nation against you from afar, from the end of the earth, as swift as the eagle flies, a nation whose language you will not understand, 50 a nation of fierce countenance, which does not respect the elderly nor show favor to the young. 51 And they shall eat the increase of your livestock and the produce of your land, until you are destroyed; they shall not leave you grain or new wine or oil, or the increase of your cattle or the offspring of your flocks, until they have destroyed you. 52 They shall besiege you at all your gates until your high and fortified walls, in which you trust, come down throughout all your land; and they shall besiege you at all your gates throughout all your land which the LORD your God has given you (Deuteronomy 28:42-45,47-52).

7 The rich rules over the poor, And the borrower is servant to the lender. (Proverbs 22:7)

13 And the Lord said, “Because they have forsaken My law which I set before them, and have not obeyed My voice, nor walked according to it, 14 but they have walked according to the dictates of their own hearts…16 I will scatter them also among the Gentiles, whom neither they nor their fathers have known. And I will send a sword after them until I have consumed them.” (Jeremiah 9:13,14a,16)

12 One-third of you shall die of the pestilence, and be consumed with famine in your midst; and one-third shall fall by the sword all around you; and I will scatter another third to all the winds, and I will draw out a sword after them. (Ezekiel 5:12)

Most will not believe, but that was expected:

6 “Don’t say such things,” the people respond. “Don’t prophesy like that. Such disasters will never come our way!” (Micah 2:6, New Living Translation)

16 … You say, ‘Do not prophesy against Israel, And do not spout against the house of Isaac.’ (Amos 7:16)

People will not want to hear! See also Preparing for the ‘Short Work’ and The Famine of the Word.

The ‘Ponzi’ scheme that the USA has been pulling off will not go on forever–even though politicians act like it can.

Watch also the following:

14:44 

And the Debt Goes On…

On June 3, 2023, US President Joe Biden signed a bill to increase the official debt-ceiling of the United States. According to its Treasury the “ceiling” has been changed, increased, or delayed 78 other times. The official debt has nearly tripled since the Obama-Biden Administration. The official debt increased about $2 trillion per year under Donald Trump’s Administration and has done close to that in the Joe Biden Administration. While the USA has been able to increase debt with limited consequences (like inflation) so far, does the Bible show this can end in destruction? What did God warn about debt through the prophet Habakkuk? Is getting into high amounts of debt a blessing or curse according to the Bible? Do Democrats or Republicans currently have a plan that will now be implemented to pay off the debt? Has the USA been functioning as an international “leech” consistent with statements in the Book of Proverbs? Does the Bible say it is wicked to borrow money you do really intend to repay? Steve Dupuie and Dr. Thiel cover these matters.

Here is a link to our video: And the Debt Goes On…

Furthermore, the Bible is clear that the USA will be taken over (cf. Daniel 11:39) and debt will be a factor per Habakkuk 2:6-8.

Do not believe in Ponzi schemes.

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