by Tim Williams

Created on: April 04, 2010

It is a time of great uncertainty for millions of Americans who continue to suffer from the consequences of some actions of a few individuals and organizations. In almost every instance the actions of these same few have brought catastrophic disasters to many. The recent bombings in Moscow is just another example of how only a few can inflict such enormous devastation and horror on so many. More insidious are the almost every day occurrences of financial recklessness by so many nations that through their actions continually impose harsh realities of financial hardship on millions of citizens.  

 In the United States the reactions taken by the Federal Government to help ease the financial crisis that almost brought this country and other nations to the brink of total financial disaster has only created another more alarming and lurking calamity that could actually bring about financial Armageddon upon all nations of the world.  

 The official national debt of the United States is 12.8 trillion equal to 88.5% of all the goods and services that our economy produces in a year. Our current internal debt { that's money owed to all U.S. citizens through current obligations like Social Security, Medicare, Medicaid, Veterans, and pensions } stands at over $108 trillion. State, county, and local governments are $3 trillion in debt. Still the majority of State, county, and local governments can't pay or even come close to balancing their budgets and will ultimately demand that the Federal Government assume responsibility for their debt as well. This brings a total of Federal, State, and Local governments indebtedness to over $123.6 trillion. Last year alone Washington added $1.4 trillion while the first quarter of 2010 the Obama Administration added another $1.6 trillion. In addition to funding the current trillion dollar plus deficits the United States Treasury now must borrow more each year to replace bills, notes, and bonds that are maturing. With all this colossal borrowing by the Treasury has resulted in a giant Tsunami of Treasury obligations that are being dumped onto the markets which results is vastly reduced bond prices which hikes up interest rates.  

 In a desperate attempt to keep interest rates low the Federal Reserve created  { printed } $1.25 trillion to buy mortgage backed securities, another $300 billion to buy U.S. Treasuries, and another $171 billion to buy other government bonds totaling over

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