So very true that our worst enemy is our own indebtedness to society. Talk about the chains that bind us. Self sufficiency is the only way to protect ourselves from the corruption of financial institutions that would like nothing better than to see us fail. 🐓🐓
You are viewing a single comment's thread from:
Hmm.. I tend to think of the debt as being mostly fake and being 'owed' to a tiny number of people, so I don't tend to think of it as a debt to society, but a 'debt' to criminals. A real debt to society is an odd concept to me since I aim not to judge or control people - I can't see how it can be a genuinely good thing in any situation!
But we don't have to do what they want, we can take their money and use it for our benefit. You can look at a zero percent credit card as a trap or an opportunity.
You can check out this post for more on this.
will do
the 'credit' 'loaned' by such companies does not actually exist until you sign the contract - your signature is used to create a promissory note that you are not privy to. The assumption is that the company has a pile of money that you are borrowing, but that is not how it works. The reality is that when loans are made, the fractional reserve system results in more interest being charged than the total amount of money in circulation allows for - meaning that it is 100% guaranteed that not everyone will be able to 'repay' their 'loan' - this is technically criminal as far as I am aware, yet it is the foundation of 'our' system.
there are a lot of reasons people have but there is not anyone who does not pay their credit card bill because there is not enough money in circulation to allow them to do so. They don't pay because they don't have the money, not because it does not exist.
The system is built on people borrowing more than they can easily repay but that does not mean you can't use it to your advantage. I use credit cards for everything all the time, I have had several zero percent cards over the years. I pay on time and as I result I never pay a dime in interest, I get miles and points and cash rewards and discounts and free tickets and all sorts of crap, the credit card companies call people like me "deadbeats". They are giving away free money, you can choose to take it or not, you can also choose to put yourself into debts you can't easily repay and be the one of the people paying the credit card companies so there can be the free money for me.
I also used interest free cards for a few years a long time ago. Then I learned that the 'credit' is not a valid loan in law and that actually the entire industry is an elaborate form of fraud.
and yet here I am sitting on a couch I purchased interest free. ;)
but if you were paying attention you would see that I didn't pay the bank one cent and that I don't owe them anything for the free money they gave me.