And I've just found at least one thing that we've been distracted from: the House passing H.R. 807, the so-called "Full Faith and Credit Act," which passed the House on May 9. This piece of
Now, if the Senate passes this
Over 30% of the debt is held by "US Individuals and Institutions," which includes "regular' Americans (well, those who still have enough money to hold Treasuries), BANKS, INSURANCE COMPANIES, and other government entities, like state governments.
Another 10.8 percent, and growing with every "quantitative easing," is held by our buddies the BANKS who own the Federal Reserve.
And another 34.1 percent is held by FOREIGN GOVERNMENTS (mostly their central BANKS--their equivalents of the Federal Reserve).
My numbers are current through FY 2012 and come from here.
So, there you go. We're supposed to watch their little comedy (tragedy?) of errors while the banks are setting up the legal framework to steal what little of our money they don't already have. As I said before, when the side show is heating up, keep your eye on the main ring. You'll almost always see something interesting going on.
Don't forget to send a thank you card to Mr. Boehner, even if you can't afford to match the $2.47 million in campaign contributions he got from the insurance, banking, investment and financial services industries in the last election. I'm sure he'll appreciate just the thought.