Money and Debt: Why the International Bankers Want You to Be In Debt

Is Debt Slavery a Planned Conspiracy from the Banks?

Being in debt has been for many years now, the American way. It seems that people have come to accept this state of affairs. But it has not always been this way. My father had no debt. My grandfather had no debt. My father was part of the greatest generation and they fought for freedom in WW2. We have a country now that fights illegally for oil and resources. The pie is getting smaller, and there are fewer ways for the oligarchs to make money.

So it is my contention that being in debt is a conspiracy against mainstreet. It is a conspiracy that will ultimately rest with the taxpayer bailing out banks and governments within the USA, which is, again, mainstreet. The profits, as Nouriel Roubini has said, are privatized, meaning that the banks make money. But the losses are socialized, meaning that the banks are bailed out, to lend another day. That is what keeps the oligarchs going or they would be jumping out of buildings as they did in the Great Depression. They don't want that because they would rather that you suffer the debt.

There are a couple of reasons why this oligarchy wants you to be in debt:

1. They make lots of money.

2. They control you politically.

3. They make you less free.

4. They make you open to their schemes for making money. If they can convince you that the war in Iraq is not an oil war, you will want that war.

5. They want perpetual customers as a guarantee of income.

6. They increase the money supply. In our upside down system, debt creation increases economic growth, sometimes just for the debt creators and speculators, sometimes for the economy as a whole. But consumer debt does not increase the economic health of those who borrow as a general rule.

You see, if the bankers ever got to the point where they could not make money lending, the entire system based upon debt would collapse. While a savings based economy would prosper, it would not afford the big bucks that these banksters are making. They make much more money off of a society that needs them than they do off of a society that is debt free.

Never before, in the history of the United States, has debt been such a barrier to freedom. Consumer debt, historically, has progressed from specific purchases, to installment credit, to ponzi loan credit. Each of these steps has left American people more in debt and less able to escape debt. However, the ponzi mortgage attack was the most brazen attack upon the consumer by the banksters. Never have consumers been subjected to this sort of attack.

Not only have consumers been left with perpetual debt, but so has our government. And it has been planned. Banksters make money if governments wage war. That is a crucial lesson. And they make money on the war on terror, which was a concocted war unlike the Cold War. This neocon war is indeed the scourge of our time, and was financed by ponzi lending attacks upon Mainstreet.

Never before in the history of the United States has the financial sector been larger or taken up a greater percentage of GDP.

Cost of Living Is Artificially High. This Contributes to Being in Debt

Bankers start wars to create debt. Also major companies make money, and industry makes money using borrowed money as all this activity is ramped up. And of course, with medical issues that transpire due to war and pestilence, banks make money.

And in peacetime, bankers make money by raising commodity prices, forcing an artificially high cost of living. Then companies financed by the big banks make more money, and people can't afford the added costs and borrow more, with the banks making more money that way.

Ultimately, Mainstreet Americans must realize that the conspiracy to create debt is a war against us, waged by the highest classes with the help of the highest officials in public office. We can only win on an individual basis, by shunning debt any way we are able to do so, by establishing personal responsibility and by teaching our children.

But realize this, the attack by Wall Street with the unfair loans they have given out, gives people the right to walk away from what amounts to a giant ponzi scheme that is legal but that should not be legal. I am not an attorney or invesment counselor but want people to understand the moral correctness of walking away from unfair predatory, ponzi lending.

Government Debt Feeds the Bankers When It Needs to Feed Main Street

In times of deleveraging the individual's balance sheet, government takes on more debt. This is only good if the money is used to attempt to help main street. So far, this excess debt is often used for housing bubbles and war. The Republicans, especially, want housing bubbles and war as a means to build profits for the 1 percent, the elite financiers.

Democrats are not blameless, but have shown that they want to go slow on housing bubbles. We will see how it all plays out.

IMF Debt is the Worst!

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Comments 13 comments

Mr. Happy profile image

Mr. Happy 5 years ago from Toronto, Canada

Being in debt is the 21st century form of slavery. The chains are "in being in debt" and the whip is the law which in turn is made by politicians who are controlled by the same people who put us in debt. They control the politicians through lobbyists and indirectly control those in debt.

Great blog and truly priceless!


bgamall profile image

bgamall 5 years ago from Las Vegas, Nevada Author

Thanks Mr Happy. Yes slavery is what it is. People need to be taught and gain discipline to avoid as much debt as is possible. And seniors need to look into walking away from debt, but they need to get advice first.


Mike Dale profile image

Mike Dale 5 years ago from Far northern California

It's funny, my mom and I had a similar conversation recently. She was telling me that when her and dad were young, no one bought anything with credit, other than a house, and maybe a car.

Skip forward to my generation, which came of age during the prosperous Reagan years. The 80's became the material generation, with their BMW's and numerous other symbols of status. Today, kids think it is expected and normal, and frankly, an entitlement, to have a cell phone, an iPod, the latest in fashion, and damnit, their parents had better get them a car!

Credit is now treated like cash, both by the government and the people. We're headed towards more trouble before things get better. By the time this is over, we'll have to live a different way.


bgamall profile image

bgamall 5 years ago from Las Vegas, Nevada Author

I agree, Mike. I think that in order for the kids to have the gadgets, more of them will forgo vehicles.


Hello, hello, profile image

Hello, hello, 5 years ago from London, UK

You are so right and your hub makes all sense. I am included. The question is, how to get out of them and off the dirty hands?


bgamall profile image

bgamall 5 years ago from Las Vegas, Nevada Author

It is difficult to escape the debt when you get it. If you have property it is especially difficult, unless you homestead the property which is a legal protection in the United States. However, this only accounts for some of the value of the property. The best thing to do is never, ever, take a no money down loan. The payments are too high when you don't put money down. You should put at least over 10 percent down on any loan or don't get the loan. If you take a no money down car loan, you must stay away from credit cards. The combination gets people in a lot of trouble.


amillar profile image

amillar 5 years ago from Scotland, UK

Debt is a very efficient way of controlling people.


bgamall profile image

bgamall 5 years ago from Las Vegas, Nevada Author

And they even want people to face job issues if they don't pay their debt. However, this seems to me like an invasion of privacy for employers to be able to see your credit score. It should be none of their business. But it is a way that banksters control people.


Jed Fisher profile image

Jed Fisher 5 years ago from Oklahoma

In stark contrast to what I hear and read on the news, most of the people I know personally, have no debt. The news about the number of people in debt has got to be lies and propoganda.


bgamall profile image

bgamall 5 years ago from Las Vegas, Nevada Author

I don't completely believe that. I mean, it is great that you know debt free people, but I think a lot of people are drowning in debt. It also depends upon the state you are in.

However, if you count being upside down on a house as drowning in debt, and you have already walked away from the house, it is the banksters who are drowning in that debt. There is a huge amount of debt on the books of the banks and the government in bailing out the banks.


bgamall profile image

bgamall 5 years ago from Las Vegas, Nevada Author

Here is a little proof of consumer debt. Bankruptcy is way up: http://www.reuters.com/article/idUSN03258684201101...


JackKnife 5 years ago

Generally excellent, Gary. Keep doing what you're doing. I don't know whether you're shaking it yet, or just barking up it, but you've got the right tree.

Key features not to miss:

1.) ALL money is debt, here in the US. Grasping and pounding home that systemic foundational characteristic makes many of your points for you. Debt money IS THE ENSLAVING TOOL, not so much mastercard, really. Sure there was predatory lending, but when a central bank has a gun to a government's head, demanding the issuance of debt in order to receive currency, well, that's it right there. (See Vrabel, and if you can find the "Debunking Money Series" post those videos immediately, they've gone missing.)

2.) One's personal balance sheet doesn't matter, Jed. The government GOES INTO DEBT ON YOUR BEHALF, at the local, state and national levels. Your property, your water supply and your power line are going to be the points of future extract, your personal fiscal carefulness be damned. THAT is why Matt Taibi's articles about the I-Banks utilizing graft to get monstrous (both in size and victimizing aspects) municipal bond issues is important. They've taken control of life necessities like water by way of the muni bond desk.

3.) The current meme about a VAT silently acknowledges that massive unemployment is in the cards and that very shortly income tax receipts are going to go to zero--none from the poor because they have no jobs and nothing from the plutocrats because they never have paid. VAT also creates a scheme for taxing Maslow's essential five needs, across the board, even if just meeting them represents 100% of your income. Diabolical, sure. Inhuman, duh. Inevitable, too.

4.) Keep hammering on the BIS. Follow the shares formerly owned by First National City, et al. Gary, if you were one of the members of the families Catherine Austin Fitts euphemistically calls "Senior Capital Pools" wouldn't those be just about the only shares one planet earth you'd hold? (As she points out, they control the rest of the world's assets through debt. To them, it's too much hassle to own a water-works, say; better to feed off it like a parasite by holding the bonds that makes it yours, at infinitely compounding interest.)

Nice work.

Best Regards,

JackKnife.


bgamall profile image

bgamall 5 years ago from Las Vegas, Nevada Author

Well Jack, you painted a dismal picture. We can hope it will self correct when the people cut back, and make it more difficult for the elite to make it without getting a real job.

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