Sometimes when you are out of options for very decent reasons, the last option is debt with unreasonable interest rates from banks that were bailed out by our tax dollars. Wrong me once shame on you. Wrong me twice, shame on me--so you betcha that a lot of people will walk away from credit card debts if the banks keep sticking it to them, and then get another bailout.
Now we are getting somewhere! So its not just the banks… we sign contracts with them willfully and in many cases under financial duress. So the boogie man is really the enablers that allow them to operate in such fashion.
Please don’t think that I am standing up for the Banksters in any way, I am not. My point is simply Integrity, honoring agreements. The same men that allow the banks to take advantage of us (our leaders) and the men buying and yielding that power (Bankers) are driven with greed that has eroded or dissolved their integrity.
In my eyes, this is where trouble begins and the first steps that lead men to where we are. Which leads me back to my original response.
I support what our man is trying to do to the financial system and the many other challenges we all face together. If it winds up being a bailout or debt forgiveness so be it and thanks to those that make it happen. But I don't see any way of separating that cost from the populations pocket book, just as the college loan bailout would have ended up on our backs….
To me the end of this vicious cycle were in starts with integrity.
I see your point. I don't disagree. But, there is something wrong with exceedingly high interest rates... similar to gouging when there is a crisis and a store jacks its prices for a gallon of bottled water. Its immoral. But some people under duress (or possibly without understanding--there's a lot f that) sign up for the agreement. That's not right.
It could be argued that a large chunk of the population lacks the foresight to make sound financial decisions. The average IQ has been dropping for decades.
Banks prey on stupidity. Money changers have caused societal problems since antiquity.
This sector doesn't actually produce anything like food you can touch. They prey on others labor. Its sleazy.
Ideally we'd move to something like some Muslim countries have where they ban earning interest. I'm not well versed on this but I think the Saudis have this system in place.
Cash is the way! I recently saw a good explanation on this. If you pay your Barber $30, then they pay their grocer the same, and grocer pays their lawn service etc,etc,etc all in cash. That $30 always stays $30…. . If the same transactions are done with credit, every transaction takes 3-5% fee, therefore, after 30-50 transactions the same 30 dollars reduces to -0- in the consumers hand while the financial services gain $30.
Before interest or membership fee’s. Brought to you by whom?
Legislation.
Surcharging fee’s were a burden of the seller or the financial institution by law for the convenience prior to 2013. The changes created a whole new industry of processing. Think about this every time you swipe. It is not theft if you participate.
You also "willfully participate" with a mugger when he asks you for your wallet. Doesn't make it right. When circumstances are forced upon you such that you have no other choice but to participate, victim blaming is hardly a fruitful endeavor. Some people make better choices than others, but that doesn't mean those who make poor choices deserve it.
Better to not use credit cards at all or pay them off each month to avoid paying any interest. If the banks fail many innocent people would be hurt. It would be better if Trump could find a solution that didn’t require many to be ruined. People are having a hard enough time making ends meet without that piled on.
Did you see the tweet from World LibertyFinancial ?
Trump is planning a financial revolution. Thing is, why bother stop a system from collapsing? This system was designed to collapse. Issue is, lots of people are going to be hurt. Let’s see how it goes.
The banks will fail. If they do not then we are not going to be free of the banking masters. The fiat dollar is going to fail. There is no getting around that, in fact it must. Have no idea what's going to replace it. If they tell is now people will become greedy and screw it up.
Some like Greg Mannarino speculate that if he's allowed to be selected then he won't necessarily take down the whole financial system otherwise he wouldn't be allowed to take power.
That would be even better... There are people who have had to make ends meet via CC due to the current Admin. policies. CC debt is threw the roof.
Also CC interest rates are crazy high, even for people with excellent credit. Most states if not all have a Usary law where the interest rates are not allowed to be above a certain percentage. Then a long time ago the CC banks got the government to let people behind in payments to have their rates increased. Now they can charge everyone above the user rates. Look at the rates by state. Below. The Feds have no stated rates.
Would be more concerned about having money in a non-BASEL3 compliant bank after Oct.1 given that after that date Basel3 banks are unlikely to even accept a money transfer from a non-compliant bank.
(meaning non-compliant banks will crash and burn and many are likely to pilfer and run rather than go down with the ship...)
Long term goal is to have all currencies have near 1:1 parity and have prices creep back to 1955 level (pre-fiat gold-backed currency prices that were actually reflective of actual material+labor+profit cost of production...).
People won't have more money(short of those that own the first currencies to shift over and will find themselves millionaires over night(IQD...)), they will just get a LOT more for the money they have...
Transition is however likely to be ROUGH in many countries, including the US.....
He backs up his stuff with referencing actual articles from governments/major finance and official statements but some people have already made up their minds about him based on too little and hearsay....
Basically Iraq is about to re-evalute their currency into one backed by gold and doing that means changing the value and basically moving the decimal point forward to reflect what is now it's true gold-backed value(1$= 1300IQD now changing to 1$= 130/13 or even as little as 1.3 IQD after.....)
Realistically, when the big banks start failing and don't worry they WILL fail, most peoples credit card debt is either probably gonna be reduced or done away with anyway.
Look at Lehman Brothers (the big bank that collapsed in 2008 that caused the great recession). A lot of "normal people" simply had their debts wiped, because there was no feasible way of collecting on those debts and it was prioritized to go after corporate debts and assets in order to pay back all of Lehman's debtors.
As far as I can tell, this is the most likely scenario again, just turned up to 11.
Kinda like a bailout for a debt you signed up for?
Not trying to be harsh.
Given the banks have been stealing from us for years...no. Not a bailout.
Reparations.
I am curious how the banks are stealing from us if we willfully participate. Not trying to be contradicting, I truly want to understand.
Sometimes when you are out of options for very decent reasons, the last option is debt with unreasonable interest rates from banks that were bailed out by our tax dollars. Wrong me once shame on you. Wrong me twice, shame on me--so you betcha that a lot of people will walk away from credit card debts if the banks keep sticking it to them, and then get another bailout.
Now we are getting somewhere! So its not just the banks… we sign contracts with them willfully and in many cases under financial duress. So the boogie man is really the enablers that allow them to operate in such fashion. Please don’t think that I am standing up for the Banksters in any way, I am not. My point is simply Integrity, honoring agreements. The same men that allow the banks to take advantage of us (our leaders) and the men buying and yielding that power (Bankers) are driven with greed that has eroded or dissolved their integrity. In my eyes, this is where trouble begins and the first steps that lead men to where we are. Which leads me back to my original response.
I support what our man is trying to do to the financial system and the many other challenges we all face together. If it winds up being a bailout or debt forgiveness so be it and thanks to those that make it happen. But I don't see any way of separating that cost from the populations pocket book, just as the college loan bailout would have ended up on our backs…. To me the end of this vicious cycle were in starts with integrity.
I see your point. I don't disagree. But, there is something wrong with exceedingly high interest rates... similar to gouging when there is a crisis and a store jacks its prices for a gallon of bottled water. Its immoral. But some people under duress (or possibly without understanding--there's a lot f that) sign up for the agreement. That's not right.
Agree 💯%
It could be argued that a large chunk of the population lacks the foresight to make sound financial decisions. The average IQ has been dropping for decades.
Banks prey on stupidity. Money changers have caused societal problems since antiquity.
This sector doesn't actually produce anything like food you can touch. They prey on others labor. Its sleazy.
Ideally we'd move to something like some Muslim countries have where they ban earning interest. I'm not well versed on this but I think the Saudis have this system in place.
Cash is the way! I recently saw a good explanation on this. If you pay your Barber $30, then they pay their grocer the same, and grocer pays their lawn service etc,etc,etc all in cash. That $30 always stays $30…. . If the same transactions are done with credit, every transaction takes 3-5% fee, therefore, after 30-50 transactions the same 30 dollars reduces to -0- in the consumers hand while the financial services gain $30. Before interest or membership fee’s. Brought to you by whom? Legislation.
Surcharging fee’s were a burden of the seller or the financial institution by law for the convenience prior to 2013. The changes created a whole new industry of processing. Think about this every time you swipe. It is not theft if you participate.
You also "willfully participate" with a mugger when he asks you for your wallet. Doesn't make it right. When circumstances are forced upon you such that you have no other choice but to participate, victim blaming is hardly a fruitful endeavor. Some people make better choices than others, but that doesn't mean those who make poor choices deserve it.
Debt for money that they invented out of air...
Money cannot be made out of thin air. Only debt can be made that way.
Better to not use credit cards at all or pay them off each month to avoid paying any interest. If the banks fail many innocent people would be hurt. It would be better if Trump could find a solution that didn’t require many to be ruined. People are having a hard enough time making ends meet without that piled on.
Did you see the tweet from World LibertyFinancial ?
Trump is planning a financial revolution. Thing is, why bother stop a system from collapsing? This system was designed to collapse. Issue is, lots of people are going to be hurt. Let’s see how it goes.
The banks will fail. If they do not then we are not going to be free of the banking masters. The fiat dollar is going to fail. There is no getting around that, in fact it must. Have no idea what's going to replace it. If they tell is now people will become greedy and screw it up.
Debt is how the banks enslave you
You enslaved yourself by taking a loan from the bank.
Some like Greg Mannarino speculate that if he's allowed to be selected then he won't necessarily take down the whole financial system otherwise he wouldn't be allowed to take power.
Is there any DS outfit he hasn't made furious yet?
He has been trying hard to piss them all off thats for sure.
Makes sense; banks or holding companies still get a positive spread and 2-3 % on processing while consumers get untrapped by usurious rates.
You would also see a tightening of allowable credit perhaps saving many from becoming owned by the bank.
He says Temp, but maybe perm is a good idea.
If they did dishonest people would become thieves. My take is tat the C.C. should go to 0 interest.
That would be even better... There are people who have had to make ends meet via CC due to the current Admin. policies. CC debt is threw the roof.
Also CC interest rates are crazy high, even for people with excellent credit. Most states if not all have a Usary law where the interest rates are not allowed to be above a certain percentage. Then a long time ago the CC banks got the government to let people behind in payments to have their rates increased. Now they can charge everyone above the user rates. Look at the rates by state. Below. The Feds have no stated rates.
https://worldpopulationreview.com/state-rankings/usury-laws-by-state
Would be more concerned about having money in a non-BASEL3 compliant bank after Oct.1 given that after that date Basel3 banks are unlikely to even accept a money transfer from a non-compliant bank.
(meaning non-compliant banks will crash and burn and many are likely to pilfer and run rather than go down with the ship...)
Long term goal is to have all currencies have near 1:1 parity and have prices creep back to 1955 level (pre-fiat gold-backed currency prices that were actually reflective of actual material+labor+profit cost of production...).
People won't have more money(short of those that own the first currencies to shift over and will find themselves millionaires over night(IQD...)), they will just get a LOT more for the money they have...
Transition is however likely to be ROUGH in many countries, including the US.....
Thanks for all that info. I will be checking into all of that.
I had a friend mention buying Dinar a couple years ago, but I never looked into it.
If you happen to have a link to an article, or something that explains the thesis behind this, would you mind sharing it? Thanks.
Kinda hard to find a single one that concisely sums it up..
@Prolotario1
He backs up his stuff with referencing actual articles from governments/major finance and official statements but some people have already made up their minds about him based on too little and hearsay....
Basically Iraq is about to re-evalute their currency into one backed by gold and doing that means changing the value and basically moving the decimal point forward to reflect what is now it's true gold-backed value(1$= 1300IQD now changing to 1$= 130/13 or even as little as 1.3 IQD after.....)
Thanks!
Well if your in a position that your looking at bankruptcy, run those cc debts to the limit first.
LOL only if I'm terminally Ill or Kamala wins!
Realistically, when the big banks start failing and don't worry they WILL fail, most peoples credit card debt is either probably gonna be reduced or done away with anyway.
Look at Lehman Brothers (the big bank that collapsed in 2008 that caused the great recession). A lot of "normal people" simply had their debts wiped, because there was no feasible way of collecting on those debts and it was prioritized to go after corporate debts and assets in order to pay back all of Lehman's debtors.
As far as I can tell, this is the most likely scenario again, just turned up to 11.
I wish I knew for sure! I have a lot of CC capacity! Kek