Full Faith in Credit ? The Real Ponzi Scheme...

It would seem the majority of Americans have allowed themselves to become complacent, and consequently mostly ignorant of the meaning of the word "Debt" and how those in power use or misuse it according to their agenda. Put simply, debt is the amount of money our gov owes to its lenders. Those "lenders" hold US debt in the form of notes, T-bills, bonds, and the like. According to an article penned by Jim RIckards,for which I am paraphrasing and which the statistical content of this post is derived from and based on, the amount of US debt held in securities alone is approx. $ 20 Trillion dollars. This number does not include "Contingent Liabilities", meaning it excludes student loans, guarantees on Freddie and Fannie mortgages, Social Security and a few other minor and immaterial categories of debt. So unless and until we wake up and read the WSJ's front page headline and news coverage stating: "$ 100 Trillion dollar debt now makes up 500% of GDP" it seems very difficult to have full faith in the promise of the very same people who spend 5x more than their citizens pay in taxes, and who have patently misled the public for decades with regard to the true state of the economy, and the value or lack thereof of their almighty "dollar".

Postscript: For the so called experts and media pundits claiming Bitcoin is a Ponzi scheme, backed by "nothing" in one breath while touting the strength of the greenback backed by the Full Faith in Credit Clause in another, I pose to you this question: how much faith can you have in the promise of a liar ?