How Dare I Ruin the Economy!

I decided to do some more research on the money issue that I’ve been writing about. I’d like to better understand inflation and how our nation got so grossly into debt. So I ordered and have started reading The Web of Debt: The Shocking Truth About Our Money System and How We Can Break Free. What an eye-opener! I have lived my entire life in complete ignorance of our monetary system. I recommend this book to anyone who wants to understand money and banking and get a healthy dose of American history as well.

This morning I found the following comment from Pamela awaiting approval on my Bank Offers No Help post (I quote in part):

Thank you for contributing to the downfall of our economy through your reckless and irresponsible use of debt. Your lenders have no obligation to help you but YOU have an obligation to pay the debts that you willingly and foolishly acquired.

How dare you think that they have to help you with your irresponsibility? How dare you abandon your debt for others to pay off? You are symbolic of the reason things are such a mess right now.

I always get a chuckle when someone says, “How dare you!” Such righteous indignation! Such superiority! This woman thinks I’m the cause of this country’s economic problem? I’m just a symptom, folks. If I asked Pamela to explain how I am symbolic of the “reason things are such a mess right now,” she would be incapable of doing so. Pamela would not be able to explain why our current monetary system guarantees that people will default on their loans.

Shit happens, Pamela. People who file for bankruptcy often do so because they’ve lost their job or become ill and incurred massive debt from medical bills. A very small portion are irresponsible or cheaters, though the bank wants you to believe we’re all crooks. It takes the spotlight off them, the real crooks. Why do you think we have laws in place to protect people filing bankruptcy? Because bankruptcy of a minority is a natural conclusion to a monetary system based on debt. The rest of you “responsible” people just trudge along in servitude to the banks.

Lurking behind the curtain of the new national bank [instituted in 1791], a privileged class of financial middlemen were now legally entitled to siphon off a perpetual tribute in the form of interest; and because they controlled the money spigots, they could fund their own affiliated businesses with easy credit, squeezing out competitors and perpetuating the same class divisions that the “American System” was supposed to have circumvented. The money power had been delivered into private hands; and they were largely foreign hands, the same interests that had sought to keep America in a colonial state, subservient to an elite class of oligarchical financiers. –Ellen Hodgson Brown, J.D., in The Web of Debt: The Shocking Truth About Our Money System and How We Can Break Free

Pamela thinks I should be ashamed. Sorry, Pamela, I’m not. And if you realized how ignorant you are about the money system, you’d be ashamed of judging me so harshly. Because it’s your ignorance, and the ignorance of your fellow Americans–I count myself as one of them–that has gotten us into this mess. But no hard feelings. I thought the same way not long ago.

This puts me in mind of a famous preacher and healer named Smith Wigglesworth. He healed a great many people but learned to stop judging others when his failing eyesight demanded he wear glasses. Up until then he had considered people with glasses as lacking faith for the healing power of God. It’s the same as saying when you point one finger at someone you’ve got three pointing back at you.

If the American people ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property, until their children will wake up homeless on the continent their fathers occupied. –Thomas Jefferson, 3rd President

We are obsessed with the acquisition of money. People lie and steal to get it. Most work at jobs they hate to get it. But most of what we earn ends up in the bankers’ pockets, first in the form of taxes and then in the form of interest on loans. How stupid is it, really, to pay $200,000 in interest to own a $100,000 home? Is that home worth $300,000? Then why are we agreeing to pay that? Because we are that stupid. But to get the $300,000 for the home, you have to earn $500,000 to pay taxes, taxes that service the national debt and again end up in the bankers’ pockets.

We buy our first car on credit. We get a credit card and charge “responsibly” to “build up credit” so we can get more credit. So we can make the bankers richer! And ourselves poorer. After a lifetime of work most people will be lucky if they have a house paid for.

If I only knew 30 years ago what I know now. I cannot believe what I’ve learned this past week. Do you understand what’s going on, how our money is created, why we pay income tax, who the Federal Reserve is, or what fiat money or fractional reserve banking are?

If the American people only understood the rank injustice of our money and banking system, there would be a revolution before morning. –Andrew Jackson, 7th President, to Congress in 1829

I’m staging my own revolution by giving it all back. Take it all. Take the house, the car, the credit cards. And let me have a black mark on my credit report so I can’t borrow from you thieves again. You have siphoned off the last of my wealth!

Folks, don’t be stupid any longer. Watch this excellent series of videos, and you will know more about money than most of the people on the planet. And you’ll probably be the only one who knows this in your circle of acquaintances. Hopefully, it’ll help you make better decisions about your finances and start you on your road to financial freedom. Then spread the word. With perseverance and conviction, we can change our monetary system. Then please, share your comments on these videos.

Money as Debt (part 1 of 5)

Money as Debt (part 2 of 5)

Money as Debt (part 3 of 5)

Money as Debt (part 4 of 5)

Money as Debt (part 5 of 5)