Jails / Prisons : Enslaved to a Debt Prison

Discussion in 'Law Forum - Prisons - Gun Ownership' started by Da Street So'ja, Dec 30, 2006.

  1. Da Street So'ja

    Da Street So'ja Banned MEMBER

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    this may not be about you but there are millions of people who are affected by this



    Enslaved to a Debt Prison

    Posted: 2006-12-23
    By: Lee Rogers

    What really bothers me about our current economic system is how technology has been used to efficiently turn this country into a debt prison powered by computer databases that track purchases and credit worthiness. Through the use of our debt based fiat currency, most wealth exists as binary digits on a computer hard drive. It is nothing more than an illusion as binary digits on a computer hard drive have no real value. This illusion has allowed banks and credit card companies to build databases that contain information on where you shop and how much you spend. It has turned the average American into an economic slave.

    In the 1970’s credit cards were primarily reserved for the wealthy. In addition, obtaining mortgage loans were difficult unless you had the ability to put down a huge down payment. Fast forward to the 21st century and we see first year students at colleges and universities get bombarded with credit card offers. We see banks giving away home loans using all sorts of creative financing packages. There are a couple of key reasons why I believe these things have changed so quickly.

    The first reason is because the system needs people to become a slave to the fiat debt prison as early in life as possible. The U.S. educational system leads students to believe that unless they get a college education that they won’t be able to succeed. This is of course a lie, but it is a good way to get people into debt at a very early age. The higher educational system in this country is ripping people off with tuition and housing fees just for the privilege of earning an undergraduate degree. Most students end up majoring in something that is of little to no value in the marketplace. In fact most of the undergraduate degree programs fail to provide students with any desirable job skill. The grade point average system actually discourages students from pursuing challenging degree programs with difficult courses. A class in sports management is given the same weight as a class in chemistry which is simply not a fair comparison. The chemistry class is obviously more difficult but someone earning an A in the sports management class is considered to have a higher GPA as opposed to someone earning a B in the chemistry class. This is one of the reasons why we see the science and engineering programs in this country filled with students from India and China. It is a common practice that schools base scholarships contingent upon a student maintaining a certain GPA. Additionally there are many parents in this country who expect good grades from their kids even if it discourages them from taking more difficult classes. As a result, the science and engineering programs which would give students truly desirable job skills are simply not being pursued by those born in this country. These distortions leave many graduates swimming in debt with a degree that has little value.

    Already in debt with student loans, many graduates are burdened with finding a job that will enable them to find a place to live and pay for the basic necessities of life. On top of that, they have to deal with the Internal Revenue Service stealing their money through the communist inspired income tax system. They also have to deal with the Federal Reserve which devalues the purchasing power of the little money that they are able to save. This forces them to take on additional credit card debt and loans in order to maintain a decent standard of living. This brings me back to the main point. The whole system is designed to put people into debt at an early age. By bombarding students with credit card offers and making student loans readily available it puts them into debt right away. Credit card companies know that the average student will not be able to make a sufficient income while they pursue their degree so they become a perfect target. The more people who are in debt, the more people there are that are forced to provide labor to the debt prison.

    The second reason why we have seen an explosion in credit issuance is because when people use credit and debit cards it enables institutions to track what people do. Almost everything can be purchased with a credit card today. Credit cards are the main method of choice used to purchase items on the Internet. Credit cards can even be used to purchase fast food, gasoline and almost anything else you can think of. Even just a decade ago, you couldn’t use a credit card to buy food from McDonalds. Now, it is common practice for someone to use their credit card to buy fast food and all sorts of items. We are quickly turning into a cashless society which gives more power and control to the private banking and credit card companies. It doesn’t sit well with me that all of my cash withdrawals, deposits and credit card transactions are stored on a computer database. It is a total invasion of privacy. Unfortunately in today’s society it is very difficult to maintain a good standard of living and function without a bank account and a credit card. Invasion of privacy is essentially imposed upon you in order to operate with any sort of efficiency.

    This is not the way our economic system should be. Transactions should be private business between the buyer and the seller. Technology is enabling banks and credit card companies to create a cashless society that can be used to track what people buy and sell. People have voluntarily entered into this system because credit cards have been sold as an easier way to buy things on a line of credit. You also need to establish a line of credit in order to obtain loans for cars and homes. The only catch with this is that by using these debt instruments you give up the anonymity of any transactions you conduct.

    As technology advances, privacy will be eroded even further. Even cash transactions may no longer be truly private. The European Central Bank (ECB) announced several years ago that they would be putting RFID tracking chips in Euro bank notes by 2005. RFID chips are small computer chips that emit a radio frequency enabling the bank notes to be tracked wherever they go. It is almost 2007 and it is safe to believe that all of the new Euro bank notes have the RFID chip embedded in them. It would not surprise me if the same plan is or has already been implemented by the Federal Reserve in new Federal Reserve Notes.

    Implantable RFID chips for humans have already been developed and approved for use by the FDA. RFID chips are already being used on animals. It is not hard to see a future where these chips are implanted in people and you will need to use them in order to buy or sell in modern society.

    This brings me to gold and silver. As our financial privacy continues to erode with all of these technological tracking mechanisms put into place, gold and silver can be used to escape from the system. Unlike binary digits stored in a database, gold and silver are real tangible items that store value and protect privacy. If the cashless tracking grid really starts ramping up, I wouldn’t be surprised to see an underground black market form where bartering tangible items like gold, silver, guns, food and water becomes a common practice. It would be a way for people to work around a society where debt enslavement is common and financial privacy is becoming a thing of the past.

    http://www.funnymoneyreport.com/article_view.php?id=21
     
  2. mrron

    mrron Well-Known Member MEMBER

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    No debt slave here!

    Debt enslavement is an interesting way to describe the current economic system. I remember as a child being enslaved to poverty having none of the things we now consider to be essential, such as television, cars, telephone, supermarkets to shop for food and clothing and other conveniences. Having economic choices is a blessing to me, I like having access to money. Credit card debt can be real bad if used irresponsibly. I used to credit cards to purchase some delipadated buildings some years ago. Fixed the buildings up and refinanced them and paid off the credit cards. I now rent those buildings out. One must be business savvy in this econmic environment in order to benefit from the numerous opportunities it presents. One thing for sure, no one is forced to take credit cards or to borrow money from any lending institution. They can use the banks to save money to make their purchases, it might take forever, but at least you won't be a "slave" to debt.
     
  3. Therious

    Therious Banned MEMBER

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    Our children shoulkd be taught proper use of credit and good spending habits in grade school. not water boils at 212 degrees and greek folklore.
     
  4. Monetary

    Monetary going above and beyond PREMIUM MEMBER

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    Therious

    I agree with that. We need to teach our children how to use debt, what it's for, and how to pay it off. Most importantly, we need to teach our children discipline so that they won't give in to their impulses to buy items they don't need or don't have the money for at the time. Understanding debt and how to use it should be a part of their investment teachings as well.

    Peace.
     
  5. KWABENA

    KWABENA STAFF STAFF

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  6. phynxofkemet

    phynxofkemet Well-Known Member MEMBER

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    Your analysis

    of the eradication of transaction privacy was right on target. I believe you illustrated the purpose behind the cash money system, and the strings of control that are behind it. I also see the validity in the black market system that you visualize being a reality - yes this very much makes sense for those rebellious enough to escape the system of chip implantation.
    Which, if I can mention it, is supposed to have been a biblical prophecy right? The mark of the beast? Anyhow, we don't have to go there either.

    In terms of managing debt, there is of course what they consider good and bad debt. Bad debt is when you borrow to invest money in a commodity that cannot give you back a return, or is a depreciating item such as a car, or a vacation. Good debt is when you borrow to invest in an investment vehicle that gives either interest, or captial returns or dividends, all of which are taxed differently. Simple interest having the highest rate of tax, and capital returns the lowest.

    Student loans are decimating the credit scores of thousands of Canadians, and for myself they have been a thorn in my side. Unlike car loans and mortgages, Canadians cannot declare bankruptcy and have them pardoned, and once they mark your record, good luck to you. The damage is incredible. Action groups have been formed to try and challenge the monopoly of student loan money in Canada, which is now controlled by some American corporation I believe. So, borrowing $$$ for an education is also a bad debt.

    The reason for the economic depression is that corporations and loaning institutions are permitted to loan out money they don't actually have.
    So, if I take $300 and put it in savings account, the bank is allowed to leverage that up to 25x, which they do. They will loan out that money at a higher interest rate, pay me nada for the deposit, and reap in huge rewards when they collect on the loans.

    Anyways, I'm not an analyst and that's about the extent of my knowledge on that subject, but I sure enjoyed your post.

     
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