Some may argue that this debt is backed by the full faith and credit of the United States government. What does this mean? It means, in very insidious terms, the ability of the United States Government to infinitely tax the hell out of American citizens to pay back debts. But, if the system fails (i.e., government default, bankruptcy of the country, and other similar SHTF events) and that taxpayer base no longer exists, that debt still needs to be satisfied; as of October 2010, the major foreign holder of treasury securities is China with 906.8 billion dollars. Second is Japan with 877.4 billion dollars, and third is UK with 477.6 billion. It is noteworthy to mention that oil exporters are fourth with 213.9 billion dollars (http://www.guardian.co.uk/news/datablog/2011/jan/18/us-federal-deficit-china-america-debt).

While a little over 900 billion dollars is only a fraction of our debt, it is still significant, especially since we continue to borrow more and more from China. In 2009, Speaking at his annual press conference at the close of China's parliament, Chinese premier Wen Jiabao said: "We have made a huge amount of loans to the United States. Of course we are concerned about the safety of our assets. To be honest, I'm a little bit worried." He called on Washington "to honor its words, stay a credible nation and ensure the safety of Chinese assets" (http://www.guardian.co.uk/world/2009/mar/13/china-us-economy).



Let me explain what the premier of China means. In the United States, external federal debt has been collateralized with our national lands, though the vast majority of the population is unaware of this (http://ireport.cnn.com/docs/DOC-197641). Yes, I know that this article is from 2008, but stay with me. It all started in the Johnson administration when we allowed foreign investors to buy part of our debt. During these years, beginning in 1964, more and more of our land was set aside in various categories, such as wilderness and endangered species. Since all original wealth is derived from the land, what it boils down to is that the natural resources of this nation are being used as a collateral base for our national debt (http://www.cblpi.org/resources/speech.cfm?ID=28).

In an article by former Congresswoman Helen Chenoweth-Hage, she elaborates on the United Nations involvement in the land grab:

One insidious program that has been eating away at our private property, as well as at our sovereignty as a nation, has come from the United Nations. It is called the "American Heritage Sites" and the "Man and Biosphere Reserves Sites." As a freshman in Congress, I went one day to visit Independence Hall in Philadelphia in order to see the Liberty Bell. I discovered that the Liberty Bell is now incased in a building that was built by the National Park Service. As I stood in line waiting to go in, I noticed two plaques in the brick walkways, one of which commemorated the site where John Kennedy stood when he gave a speech for a certain occasion, a great tribute to a great patriot. I then went over to the second plaque, which commemorated the dedication of this site to the United Nations Educational, Scientific and Cultural Organization, UNESCO. I was stunned––Independence Hall was under the jurisdiction of UNESCO!

Realizing UNESCO uses one of two designations when targeting a site for its control–– (1) Rural Heritage Sites, and (2) Biosphere Reserves––my staff and I did some research. We discovered that exactly forty-seven sites in America have been designated under the Man and Biosphere Reserve, and twenty sites have been designated as Rural Heritage sites––all under the jurisdiction of UNESCO. Among the sites designated as Biosphere Reserves are the Coast Ranges in California, Cascade Head in Oregon, the Central Gulf Coastal Plain in Florida, the Central Plains in Colorado, the Adirondacks in New York and Vermont, the Everglades in Florida, the New Jersey Pine lands, the Rocky Mountains in Colorado, the Three Sisters in Oregon, and Yellowstone National Park in Wyoming and Montana––and those are just a few examples of the stretch of the Biosphere Reserves. Among the twenty World Heritage Sites are the Carlsbad Caverns National Park, the Grand Canyon National Park, the great Smokey Mountains in Tennessee and North Carolina, the Hawaiian Volcanoes National Park, Independence Hall in Pennsylvania, the Liberty Bell, the Olympic National Park, the Statue of Liberty in New York, Yellowstone National Park, and Yosemite National Park––that is, our national heritage and national treasures. After some studies, we found that all the land that has been taken––land given away by the government and currently under UN jurisdiction––would fill up the entire state of Colorado. Hundreds of thousands of American lives have been laid down, have been sacrificed to protect the sovereignty and land of our nation, and then our government just turns around and gives our land away; its jurisdiction has been handed over to others. This was too much (http://www.cblpi.org/resources/speech.cfm?ID=28).

What happens when The United States government refuses to pay up? Do you really think that we can continue borrowing based on full faith and credit? I cannot imagine China would buy more paper without some sort of collateral. As much as I dislike him, Glenn Beck had an interesting take on this issue at http://www.foxnews.com/on-air/glenn-beck/transcript/americas-banker-how-will-china-treat-deadbeat-borrowers



Look at some other countries that have defaulted or went bankrupt. Ireland http://www.sovereignindependent.com/?p=8324, Iceland http://www.scoop.co.nz/stories/HL0904/S00068.htm, and Greece http://www.thedailybell.com/1162/Greece-Sells-Islands.html



These types of events can happen to the United States if we go bankrupt. Don’t think for a moment that the IMF, World Bank, and a consortium of other nations couldn’t get together and pull the same shit on America. There has never been a country in history that was too big to fail. While I don’t know the eventual outcomes, I can predict possible outcomes based on what information I have. The only way for the United States to financially save itself is to stop spending what we don’t have. For those reading, as much as you might want to dismiss this as a case of overly wrapped tinfoil, ask yourself this question: Do you believe that the United States government truthfully cares about the rights and freedoms of all American citizens? If you do, I’m sorry you wasted your time reading this article.