THE BIG CON How the government rips you off with nonmarketable bonds
		Nonmarketable bonds should be outlawed and stricken from the books. They are a curse and a plague on the American people. Nonmarketable bonds are promissory notes where no promises have ever been made by those responsible for their redemption. They are not valid contracts between lender and borrower. They have no legitimate place in the world other than to be the invention and tool of crooks. Congress and the Administration always take all of the overpayments that we make to entitlements. They take these surpluses as soon as this extra money comes into their coffers. They then place nonmarketable bonds in the entitlement's trust fund, supposedly to account for the cash stolen. Taxpayers would be better off if this didn't happen, if Congress just took the money and ran. These nonmarketable bonds are the setup for a nonpartisan system of double taxation that should be punished by getting rid of the perpetrators, all of them. Currently, 35 percent of the nation's $5.7 trillion national debt is composed of these nonmarketable bonds. Face facts The working, taxpaying public pays off all Treasury securities, all promissory notes held by the government, marketable and nonmarketable alike. We pay them off with taxes collected by the federal government. When establishment economists and commentators tell you that the government can pay off part of the national debt or cover Social Security payments by running deficits, by borrowing money through the sale of more securities on the open market, by borrowing more money from other nations and the public—they are lying to you. They cannot retire one cent of the debt by borrowing more money elsewhere, by robbing Peter to pay Paul. At best, such borrowing does nothing more than forestall payment against principal, like moving debt from one credit card to another. The only way that the national debt can be reduced is by paying off maturing securities and not issuing new ones to take their place. There is no other way. The only source that the federal government has for money to pay off maturing securities is the general fund tax base held by the Treasury. There is no other place for them to get unencumbered money. The general fund Treasury holds both income taxes and the taxes we pay to entitlements like Social Security, Medicare, gasoline, airport and airlines and other user taxes. The superstition that federal trust funds hold cash is another lie. Of the 164 federal trusts, only the Thrift Savings Plan Trust Fund holds any real money. The rest are all debit accounts holding nonmarketable bonds. If there ever was any real cash (and in many cases there never was any) that could have been placed in trust, it was stolen long ago and used wherever Congress and the Administration pleased. Whenever the federal government takes money out of the Treasury to redeem debt, or to pay interest on that debt, we do without some portion of other services that could have been provided in that particular year. In other words, the more they take out to pay against the debt, the less we get in terms of education, agriculture, defense or other services that year. The only solution to this is to raise taxes. Double taxation You have heard that Social Security's problems lie thirty or forty years in the future, when Social Security exhausts its trust fund. This is another whopper. Social Security becomes a major problem the minute it must draw on its trust fund. For Social Security, this is currently estimated at the year 2014. For Medicare, it's much sooner. The money to redeem the nonmarketable bonds held by trust funds will come out of the general fund of income and corporate taxes. In the case of Social Security, it will be paid by the very same people, their children or grandchildren, who paid this money in excess in the first place. The very same people who had it stolen and replaced by bogus UOU bonds placed in trust by the thieves. This is double taxation, plain and simple. In the case of the Airport and Airways Trust Fund, The Inland Waterways Trust Fund or other user taxes originally stolen, the general working taxpaying public will be repaying money originally collected from fewer people. But in the case of Social Security, Medicare, or gas taxes we all pay, it's double taxation for every worker, dollar for dollar. This is the greatest rip-off that has ever been perpetrated on the many by a few. We're talking about hundreds of billions here. Don't forget, one billion is equal to one thousand million. There has never been greater theft. There has never been a greater economic injustice done to the people of a country by its leaders. And it will continue until you do something about it.