correction on quote that congress can buy back the fed for 44.4 billion....its actually The U.S. Congress has the option to buy back the FED at $450 million..

noting the current fiat is actually forgeign instrument...thus it can be taxed under the tarrif acts[1933]...under the fed reserve act of 1913..

this needs be done under right of seignorage...12 cold coins to the total face value of 450 billion...and the govt debt is wiped out...
or if not wiped out...at minimum..the intrest on it..is
http://www.google.com.au/search?hl=en&rls=MEDA%2CMEDA%3A2008-36%2CMEDA%3Aen-GB&q=The+US+Congress+has+the+option+to+buy+back+the+FED+at+%24450+millions+&btnG=Search&meta=

one under god I have my doubts about including longer term policy costs which the $56.4 trillion figure does. There is a lot of scope in that to change policy. Doing so has a different set of costs but it's not money currently owed to offshore interests.

At the same time the figures I've seen don't seem to include private debt. There is also the issue of the difference between debt and assets. Does the US government own significant assets which could be sold to offset some debt? There seem to be vast area's of land tied up in government land (millitary reserves etc) but how much of that land is valuable for much else I don't know.

Even if it's a valid representation $56.4 trillion is still very different to $125 trillion.

R0bert

Forrest Gumpp,thanks for the support.I think we all need to take this to the media ad issue a national challenge to both the major parties.We have them in a corner.If they are telling the truth then they will agree to all the proceeds of this carbon tax going towards alternate energy alternatives.

I suspect Kevin wants to pay off the stimulus debt via carbon taxes.He does not want to increase the GST since this will cost him an election.

Robert,I think it's going be very difficult to find out what the real debt both private and public is.There are trillions in derivatives not backed by real productivity that are still being traded in the system.This derivative system is destroying real businesses and jobs in the West.All these bailouts are supporting a flawed financial systems.

The US Fed is bailing out all it's Ponzi scamming mates.There is no such thing as too big to fail,since a business based on a lie,is not worth saving.

We have to do something. Everyone is talking about pollution, global warming etc. but when it touch your own pockets than most of us change point of view.