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Liberty News ForumLNF Forums HereEconomics, Financial News › Debt Equals Slavery
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Possumpoint
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Debt Equals Slavery
Jul 2nd, 2017 at 12:05pm
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What would you do if you weren't in debt? How would you be living your life? This is, of course, a rhetorical question in that the answer is different for everyone. We have been brought up in a country and society where debt has been promoted as a lifestyle, a means to acquire the material things wanted in life. It has also been promoted as a means to gain additional wealth. Debt isn't frowned down on. To a certain extent, savings is.

I submit that debt is a means to control you. Among other things, it is being used to keep you in line working and producing the tax revenue the government is dependent on. At the onset of the previous recession, President Bush and the Federal Reserve had helicopter money thrown out and he went on TV asking the American public to buy more stuff to reinflate the economy. Not said was to acquire more debt.

Debt is being used to control our governments at both the state and federal level. The threat of banks being too big to fail and economic chaos is sufficient to have the government do additional borrowing and supporting the banking industry. The establishment of central banks has resulted in their controlling government decisions.

When the central banks have succeeded in lending enough to governments and the point of bankruptcy is approached, the banks start forcing the transfer of wealth and government property to the banks and bankers. The banks begin to demand that the government change their laws to the banker's demands before they'll agree to extend any further credit.

Look at the bail in Spain where depositor's money was used to stabilized the bank's balance sheet and then the bank was sold to a wealthy investor for one Euro. I understand the two banks in Italy are facing the same process. Greece is being forced to go on an austerity program and to transfer government property to the IMF.

I suggest that you get out of debt as soon as possible. Because of the very poor returns offered by banks and with the threat of confiscation of funds under a bail-in, you may want to explore other means of savings.

Despite opposition received from a number of posters I still feel we should do the following:

     1. Abolish the Federal Reserves.
     2. Default the Federal Debt.
     3. Return to the Gold Standard with the denial of paying physical gold to debts outside the United States.

Yes, I'm well aware of the chaos that defaulting the debt will result in. I believe that will be the end result anyway and this way, we control the process, not the IMF. If you feel like it, you should research the made up bank crisis and back room deals made to create the Federal Reserve in 1913. They have succeeded in devaluing the 1913 Dollar down to 6 cents currently.


  

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michiganFats
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Re: Debt Equals Slavery
Reply #1 - Jul 3rd, 2017 at 6:48am
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Possumpoint wrote on Jul 2nd, 2017 at 12:05pm:
What would you do if you weren't in debt? How would you be living your life? This is, of course, a rhetorical question in that the answer is different for everyone. We have been brought up in a country and society where debt has been promoted as a lifestyle, a means to acquire the material things wanted in life. It has also been promoted as a means to gain additional wealth. Debt isn't frowned down on. To a certain extent, savings is.

I submit that debt is a means to control you. Among other things, it is being used to keep you in line working and producing the tax revenue the government is dependent on. At the onset of the previous recession, President Bush and the Federal Reserve had helicopter money thrown out and he went on TV asking the American public to buy more stuff to reinflate the economy. Not said was to acquire more debt.

Debt is being used to control our governments at both the state and federal level. The threat of banks being too big to fail and economic chaos is sufficient to have the government do additional borrowing and supporting the banking industry. The establishment of central banks has resulted in their controlling government decisions.

When the central banks have succeeded in lending enough to governments and the point of bankruptcy is approached, the banks start forcing the transfer of wealth and government property to the banks and bankers. The banks begin to demand that the government change their laws to the banker's demands before they'll agree to extend any further credit.

Look at the bail in Spain where depositor's money was used to stabilized the bank's balance sheet and then the bank was sold to a wealthy investor for one Euro. I understand the two banks in Italy are facing the same process. Greece is being forced to go on an austerity program and to transfer government property to the IMF.

I suggest that you get out of debt as soon as possible. Because of the very poor returns offered by banks and with the threat of confiscation of funds under a bail-in, you may want to explore other means of savings.

Despite opposition received from a number of posters I still feel we should do the following:

     1. Abolish the Federal Reserves.
     2. Default the Federal Debt.
     3. Return to the Gold Standard with the denial of paying physical gold to debts outside the United States.

Yes, I'm well aware of the chaos that defaulting the debt will result in. I believe that will be the end result anyway and this way, we control the process, not the IMF. If you feel like it, you should research the made up bank crisis and back room deals made to create the Federal Reserve in 1913. They have succeeded in devaluing the 1913 Dollar down to 6 cents currently.




What if I need some cash and I have a lot of equity sitting in a house doing nothing?
  
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Possumpoint
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Re: Debt Equals Slavery
Reply #2 - Jul 3rd, 2017 at 11:07pm
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michiganFats wrote on Jul 3rd, 2017 at 6:48am:
What if I need some cash and I have a lot of equity sitting in a house doing nothing?



You have to make the decision based on how badly you need the money.


  

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Re: Debt Equals Slavery
Reply #3 - Jul 5th, 2017 at 10:08am
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Possumpoint wrote on Jul 3rd, 2017 at 11:07pm:
You have to make the decision based on how badly you need the money.




So it's not necessarily a bad thing?
  
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Possumpoint
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Re: Debt Equals Slavery
Reply #4 - Jul 6th, 2017 at 10:29am
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As I said, this is a decision you have to make. For me it would be a no go. Being debt free is so important to me that the last time I accepted a new credit card to receive a $40 discount on goods purchased, I felt an oppressive feeling till I received the bill a month later and could pay off the credit card. I had the money to buy the goods outright but the thought of using someone else's money for a month and getting a discount was appealing.

Being debt free gives you the chance to accumulate wealth or not. You decide where to put your money. You are not obligated to give a portion of your money to someone else. You decide if you have to or want to work.
  

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Re: Debt Equals Slavery
Reply #5 - Sep 20th, 2017 at 1:26pm
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You should read the Shock Doctrine. It says similar to what your saying but applied to entire countries. We see this in Puerto Rico already...hurricanes are devestating the region and the bankers are licking their chops hoping to subjugate the country via privatization - and eventual debt.
  
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Re: Debt Equals Slavery
Reply #6 - Sep 20th, 2017 at 8:02pm
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Borrowers make out like bandits during periods of high inflation.  In hyper inflation, like Germany after WWI, borrowers who financed the purchase of real property REALLY did well.  But you gotta be lucky.  No one can time things that well.

The Book does say the borrower is the slave of the lender.  But there are times when debt is okay.  Gotta put that in context.
  

non sumus stulti
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