THE RED FLAG OF NATIONAL DEFECITS

Today the red flag of national deficit financing flies over the capital cities of Washington, London,
Paris, Rome, Berlin, Tokyo, and Moscow. It has replaced the Stars and Stripes, the Union Jack,
the Maple Leaf, the tricolors of Italy, France, Germany, Russia, and the red globe of Japan.. Thesenoble patriotic national emblems may become symbols of the past great history and gallantry of
a people. They are all now in danger of being permanently replaced by the international flag of
Internationalists and their associated money lenders.
The United State’s Federal Government now carries a federal financial debt load of six trillion
plus dollars. Municipal, County, State, and private debt obligations would double or triple this
nation’s financial obligations. The USA is not alone in this regard. The countries of Great Britain,
Canada, Italy, Germany, Japan, and Russia are each carrying a near bankrupt national balance
sheet. These excessive national debt programs are seen as being necessary by the political leaders
of these nations. Other countries are faced with massive and ever mounting financial debt
problems which now appear to be insurmountable without facing a period of civil strife and the
ensuing political and economic reorganization requirements.
Canada’s annual televised Budget announcement with its insipid display of pomp and ceremony
by the government and its Financial Minister makes a burlesque of the House of Parliament’s
proceedings with its proposed financial program announcements. Every item on the Minister’s
agenda is met with a rousing round of desk thumping and government shouts of “here, here,”
with an occasional “foul” call from the members of the opposition. The Finance Minister and
the Prime Minister are attired in their Sunday best — complete with new shoes and lapel
bouteniers. No mention or reference is ever made of the Nation’s accumulated financial debt.
Canada has a Federal debt of six hundred billion plus dollars. — far too much for the size of
the population and the Country’s Gross National Production. Canadians would do well to
demand that a National Debt Clock be installed in a highly visible space in their House of
Commons. The government and its cabinet of ministers and the members of the opposition
would together all be aware of the Nation’s financial debt obligations as they debate spending
bills currently before the House. Buried deep in the body of this National Financial debt may lie
the seeds of Canada’s demise as an independent nation of the world.
These huge, unprecedented international financial deficits of vast amounts of repayable
loan obligations are now approaching hundreds and thousands of billions of dollars, are
designed to serve two purposes. One to create a false and exaggerated live style standard of
living for those people now living in these indebted nations. Two, and possibly what may be the
prime purpose of these debts is the creation of vast pools of financial capital debt into which
their friends and associates can safely and profitably invest their hordes of cash. The interest
payment cheques go out to these investors daily, weekly, monthly and yearly who may
eventually control the economic life, fate and future of these indebted democratic nations.
Left to their own devices all the governments of the western world will spend their nation’s wealth
into another worldwide depression. National security and terrorism now demand it?

In every well-governed state, wealth is a sacred thing; in democracies it is the only sacred thing.- Anatole France (1844-1924 ) Author Nobel Lectur