The Debt Ceiling: A Joke? An Alternative View.

[Megiddon]

I large percentage, nearly a third, is owned per foreigners. That's a lot of debt.

[blackplight4u]

@Megiddon The vast majority of the debt is owned by American private interest. The Federal Reserve has printed a huge sum of currency to advance the economy. This is a private institution that now the S&P is asking to honor the production of these monies to ensure compounded interest are covered by our equity. In short it is not our foreign creditors who is asking for debt payments. It is our own home grown institutions who are asking for payment or our credit rating will be downgraded.

[Megiddon]

@blackplight4u

What do you mean by private interest? The Government is not private interest, the government isn't some elite group of billionaires that own all the money, it is the people of America.

Do you think the foreign creditors are not interested if they get their debt repayments?

[blackplight4u]

@Megiddon Private interest is how the trillions of dollars has been extracted thus far from the Social Security Fund. How this money was taken is the question? It was not legislated as an IOU so it was allocated for use privately. As I stated the biggest private interest is the Federal Reserve. This institution is not legislated as a governing body as dictated by of the Constitution. Meaning it is not in there. Try reading the Constitution it is a fun document to read.