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May 12, 2023 - X22 Report
16:37
Ep. 3068a - Conspiracy No More, Debt Ceiling Apocalypse Is Another Fear Tactic
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Welcome to the episode of The New York Times.
Welcome to the New York Times.
You're listening to the X22 Report.
My name is Dave in this episode 3068 AM. Today's date is May 12th, 2023.
And the title of the episode is Conspiracy No More.
debt ceiling apocalypse is another fear tactic.
Let's talk about protecting our wealth.
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Let's get right into the economic collapse financial news.
Now, the deep state, the corrupt politicians, the private West Central Bank, the World Economic Forum, as they continue down their path trying to bring us into the great reset, the Green New Deal, trying to push fear and tell us that we need to go to solar panels, windmills, that we need to be full electric.
We need to be driving electric cars.
We we should be flying on electric planes, making our entire lives controlled by electric.
People have been saying, well, if you control everything with electric, won't it be easy to shut everything down?
Won't it be...
Very easy to centralize, control over everything, and they would have full control over everything.
Actually, add on top of that, placing certain chips into certain products, which it runs through the electrical system.
You can control all different devices in your home from a centralized location.
Everyone say, no, that's a conspiracy.
They would never do anything like that.
Well, if you look at California and look at Germany right now, you can see these conspiracies.
Well, they're no longer a conspiracy.
The powers that be that are trying to bring us into the Green New Deal...
In the end, what they want is they want full and utter control.
And they don't care what the people say.
If you look out in Germany, which I do believe is the model for the European countries, from 2024, network operations in Germany will be allowed to limit electricity without the consent of their customers.
So if your entire house or apartment Is electric.
There's no gas.
They are allowed to limit electricity to your home and it doesn't matter what you say.
Think about this for a second.
Think about if you say something that's politically incorrect.
What happens if you say something that's not part of their narrative?
What do you think they're going to do in the end?
They're going to shut you down until you comply, until you submit to what they want.
And this is what people are seeing now.
Since they have these two models, California and Germany, people can see in real time what they're trying to do.
And as they continue to do this, it's not going to work.
The people are awake now, the people see what's going on, and the people are going to push back like we've never seen before.
Just like this whole debt ceiling fear tactic that they're trying to push out in the United States.
This isn't going to work either.
And it looks like the Biden administration in the end, they're probably going to end up folding on this entire thing.
We already have Senator Joe Manchin.
He said his fellow Democrat, Joe Biden, has staked out a hypocritical position in recent debates over how to raise the US debt limit.
Biden has repeatedly called for a so-called clean bill to raise the debt limit without any additional conditions on matters such as spending reforms.
It's not rational, he says.
It's not reasonable.
And it's not practical.
Manchin argued that the only times there aren't contentions over a debt limit increase is when one political party controls the White House and both houses of Congress.
And this time, that's not what they have.
Actually, if you remember, they controlled the House.
They controlled the Senate.
Why didn't they just raise the debt ceiling when they controlled the House?
They could have done it very, very easily.
Why did they wait until now?
Because their entire plan was to blame the collapse of the economy on the Republicans.
This isn't going to work because the people, they realize who's accountable, who's responsible for this, and they don't believe that the Republicans are because they're saying, listen, we're going to raise the debt ceiling.
Yes, what we got to do is cut spending.
And that's very, very reasonable.
You don't even want to negotiate.
Manchin went on to say that it's not reasonable to insist that there be no spending cuts or conditions attached to a debt limit increase.
So right there, Manchin is calling Biden out on this.
A lot more Democrats are probably going to come to the side of Manchin, and they're going to start to push back.
Biden trapped himself in all of this.
And when we look at the Constitution, the Constitution vests in Congress and withholds from the executive the power to commit to spending to raise revenue by enacting taxes and to incur public debt.
The 14th Amendment does not alter this congressional control of borrowing.
And this is coming from the Conservative Heritage Foundation, which they wrote this back in 2011 when Democrats floated the 14th Amendment theory as a way to circumvent a previous debt limit impasse.
The Heritage Foundation further argued that a default on the national debt does not actually constitute questioning the validity of the debt.
The Foundation noted that debtors may commit to repaying a debt even after declaring bankruptcy.
Insolvency in itself does not impugn the validity of debt, but only the debtor's present ability to pay.
So right there, Biden is trapped in all of this.
And he's starting to realize this.
Yes, they're trying to push the 14th Amendment.
Yes, they're trying to get around this.
Yes, they would like to blame this on the Republicans.
But now they are trapped.
And when we really look at the debt apocalypse as Yellen is saying that everything is going to fall apart, it's going to be a complete and utter disaster, it is one gigantic fear tactic.
This is coming from the American Thinker.
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To the Treasury Department's proverbial ceiling.
$31.4 trillion worth of them.
Over $5 trillion of those dollars have been purchased and are held by the Federal Reserve Bank, meaning the federal financial system, in effect, lends money to itself.
Now back on May 1st, Treasury Secretary Janet Yellen, she articulated the entire situation in a letter that she wrote to Speaker of the House Kevin McCarthy.
And here's the important part.
After reviewing recent federal tax receipts, our best estimate is that we will be unable to continue to satisfy all the government's obligations by early June.
If Congress does not raise or suspend the debt limit before that time, if Congress fails to increase the debt limit, it would cause severe hardship to American families, harm our global leadership position, and raise questions about our ability to defend our national security interests.
Since Secretary Yellen mentions federal tax receipts, it is worthwhile to note that in fiscal year 2022, the federal government collected $4.9 trillion in revenue, which Primarily from personal and corporate income taxes spent $6.27 trillion and financed a deficit of $1.38 trillion.
This means approximately 22% of government spending was done with borrowed money in 2022.
It was the borrowed $1.38 trillion that brought the national debt to its ceiling and has forced the Treasury to fund government operations through extraordinary measures.
In her letter, Secretary Yellen is unclear about which hardship she thinks American families will suffer if the nation defaults on its obligations.
So when you really think about this, what does she really mean?
Because right now people are suffering.
They're suffering from what?
Inflation.
They're suffering from the collapse of regional banks.
They're suffering from the diversion of taxpayer dollars, two millions of migrants flowing over the southern border.
They're suffering over the billions of dollars that are being sent over to Ukraine.
They're suffering with higher fuel costs.
They're continually suffering with the borders.
So when she says that people are going to suffer, how are they going to suffer?
Because if you really look at what she's talking about, we had to borrow $1.38 trillion to pay for The other part that the tax revenues couldn't pay for.
So doesn't that mean that we need to cut spending somehow?
Because right now, what are we really losing?
She hasn't really explained it.
What is this extra $1.3 trillion going to?
Is this the money laundering?
Is this programs that we really don't need?
Because if we go back in time with all the stimulus and everything else, do we really need to monitor the bees on highways?
Do we really need to have gender care or gender education in other countries?
Do we really need to send all this money to Ukraine?
Do we really need to do all of these things outside of this country?
So when she says there's going to be a problem, where is there going to be a problem?
If we cut all these things around the world and we just focus on America...
I don't think we're going to have that much of a problem.
Or is a lot of this money going through their money laundering schemes?
That's what they're really worried about.
They're not going to have the funds to launder anymore.
And this is what they're trying to stop.
Because remember going back to the time...
When the entire government was shut down under Obama, what really happened?
How many people suffered?
Because if you're really looking at the accounting records of the government, I'm sure we can cut all these different programs that are happening all around the world and we would be absolutely fine here in the United States.
But once again, we know why they're doing this.
It's a fear tactic.
And they're trying to push this to try to convince the population that if the Republicans don't pass the debt ceiling, your lives are going to change dramatically.
And once that time comes and we get past that point where the debt ceiling isn't raised, the people of this country are going to see there's really no problems here.
No one's suffering.
Nothing's really happening.
And this is what they're afraid of.
And I do believe this is why Trump has been predicting that they're going to fold and they're going to say, okay, let's negotiate some spending cuts and let's raise the debt ceiling.
And once they do this, they are screwed.
They're screwed either way.
But once they hit that marker, they are screwed because moving forward, all eyes are on Biden.
All eyes are on Obama.
All eyes are on the Federal Reserve.
All eyes are on Yellen because they said, if we can get this, everything is going to be fine.
Well, do you really think the economy is going to be fine once they get this?
Or do you think the economy is going to start to break down and it's going to start to implode on itself?
Of course it is.
Because energy costs are going to continually rise.
They're pushing us into the Green New Deal.
That means you're going to see energy inflation, which means they are pushing us to where they want us to go, and that is the Great Reset.
And if they're going to do this, they have to bring the economy down.
They just don't want to be blamed for it.
They were going to bring down the economy no matter what.
No matter how you look at it, no matter what you say, they were going to do this no matter what.
And Trump and the Patriots, they decided, you know something, if they're going to do it and they're going to destroy their own system, we might as well put them on the pedestal, let everyone see who's responsible, let them do it, And then we can use this against them because now the people from that poll know that Biden, Yellen, and Powell, they are responsible for all of this.
And Trump, he'll just come in with a solution and say, you know something?
You can either go with them.
Did you like the economy that you're in?
Or remember my economy?
When fuel prices were really low, inflation was really low, it brought back jobs, everyone was working, you had a lot more money in your pocket, we placed tariffs on China, we sent that over to the farmers.
You can either take that, and I'll even make it better now, or we can go where they want us to go, which is the central bank, digital currency, full control, green new deal where electric will be on some days, off the other days you won't be able to travel.
You decide where you want to go and let me know.
And what do you think the people are going to do?
The people are going to say, you know something?
We had enough of this.
We don't have money.
I lost my job.
Can't pay my bills.
I'd rather go to the guy that has solutions than this person that's telling me that this is going to be great.
And I'm looking at California.
I'm looking at Germany.
And those two areas are a complete and utter disaster.
And look at all the other blue states in this country.
They are imploding.
Businesses are leaving.
Why would I want to go with them?
With the people that are saying the Great Reset, the Green New Deal is fantastic.
You don't want to go with them because you're looking at the real-time model.
This is what they want for the rest of the country.
Why hasn't it worked out in all the blue states?
Why hasn't it worked out in California?
Why hasn't Germany worked out?
Because their policies don't benefit the people.
Their policies hurt the people and benefit themselves.
That's the difference.
And that's why people are going to go with Trump.
And I do believe as Trump gives more solutions, he might even say, you know something, maybe we should go back to the Constitution.
Maybe we should go back to physical metal, like our founding father said.
Maybe we should do that because once we do that, once we peg the currency, either be Bitcoin or paper, whatever it's going to be, once we do that, What happens to the fiat currency, not just here in the United States, but around the world?
Does it show everyone the true nature of the fiat currency?
Does it show everyone how it's absolutely worthless?
Yes, it does.
The fiat currency.
Does it destroy the Federal Reserve?
Absolutely.
That's what people are going to experience.
And once they see this, they're going to say, yeah, you know something?
We can't go with them.
That's not where we want to go.
And you're going to see the rest of the world follow, which will in turn then destroy the entire central bank system.
Listen, everyone, thanks a lot for listening.
Be well, be safe, and especially be prepared.
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