William Shughart, a former economist at the Federal Trade Commission and now Senior Fellow at the Independent Institute, thinks the federal government should begin selling off its vast assets to pay off the debt. Of course, that would mean selling the land back to U.S citizens, not to foreign entities. As outlined by one constitutional lawyer in the video below, it is against our constitution for them to own all the land that they do anyway!
Right now the government owns 28% of the land mass of the United States, as well as all the mineral rights under that land.
The real treasure trove is not on federal lands … but underneath them, in the form of oil, gas and other mineral deposits both offshore and on.
Selling off rights to explore and access these oil, gas and other mineral deposits by itself could wipe out the national debt.”
Shughart has seen estimates of the value of those energy reserves ranging from $28 trillion up to $128 trillion.
He’s already been contacted by the Trump team to assess the feasibility of a structured sale of federal assets that would transfer a significant amount of land and energy reserves to the private sector.
In addition to reducing the debt, such a program could generate creation of many jobs and significant economic growth. It would move the United States closer to true energy independence. It also would shrink the size of the federal government by reducing the bureaucratic infrastructure needed to manage those land holdings.
As this constitutional lawyer so passionately outlines in the video below, the federal government cannot own all the land it currently lays claim to anyway!
Source: Financial Sense
The Constitution allows to strike 20 coins with a face value of $1 trillion each. Pays off the debt. Simple, clean and gets the job done. Now to find a fool to take those coins at the supermarket. At least they are an obligation of the US Government, and not useless paper IORs from the Federal Reserve Bank.
And just who do you think has the resourses to by all this public land
I’m for it, and if the government is not supposed to own that much, who is responsible.obama?
This is such a no brainer. Start with all he vacant buildings the govt. owns.
Obama did a lot of expensive spending and helped create this huge debt. Also brought in a lot of free loaders that expect free handouts!
Is it the necks of the left?
Simply stop spending and wasting money. We are bringing in record dollars and it is never enough.
If the all the countries file bankruptcy at the same time, it will end the federal reserve banking problem!! Bring the world’s debt to zero and we all can start again!! Better then ruining what nature we still have in this country!! But we need to take back the federal land that was used as collateral to foreign countries (China) ,Japan and Britain not to mention our national parks and monuments from the UN!!
Sounds good, but it won’t work. NWO elitists have purposely crashed economies before to their advantage. Fed Reserve, IMF, they are all about control and one way or the other, they will eventually get control. When is just a matter of time.
I say fire the senate and congress. There is the extra money!