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Untitled
The following reflects my opinion. It is not to be construed in any way as advice of any kind. The e-book I share at the bottom of this page was not written by me, but I have used similar methods contained in this e-book. I have not paid my previous credit card debts and I have no intention of paying them. All negative marks on my credit report will be gone by lawful dispute (though you should be aware that even if you simply stop paying your CC's, after two years they don't affect your credit score anyway - don't be fooled, and learn to be annoyed by that freecreditreport(dot)com singing guy). As I learn about the "system" (our banking system, where our "money" comes from) farther, I am convinced that terminating student loans can be done in the exact same way. I won't go into mortgages here, but I will mention that these are fraudulent contracts that you can "get out of" legally and lawfully also, without paying another payment, and still keep your house legally and lawfully. Mortgages are a bit different as they are "secured debt," but much of the following still applies.
I am going to explain a little farther where I am coming from - I DO NOT believe, even though I have used the technique described in the following e-book, that it is the best way to handle debt or banks of any kind. However, it is the simplest method and it works. Once you stop paying these thieves, you can easily remove all marks from your credit report. If this is good enough for you, then it's good enough for me - for now. Perhaps I will explain my "more advanced" understandings of this system at a later date - or if you are interested you can e-mail me and I will answer any questions and point you in what I feel to be the relevant direction.
HOWEVER, the following is the most basic approach. That is why I share it here. There is much more to this "system," (again, "system" here is not the process described in this e-book, I am referring to the monetary system itself - where our "dollars" come from) and as I learn more about it I am more comfortable telling you that there is no need to pay your wages towards your debts - and in fact it is also illegal for the IRS to collect "income tax" on your wages.
Before you neglect this out-of-hand, or read this e-book, I will briefly explain:
Our monetary system is seriously flawed - do not underestimate this fact or the negative effect is has on all of our society. In 1933 the United States of America confiscated it's citizens' gold - removing "money of substance" from use. What replaced it (in the mainstream system) is "money of account." All money, all "dollars," are borrowed into existence. Money is legally "created" by those who own banking licenses - under a system known as Fractional Reserve Banking ( wikipedia link), hereon referred to as FRB. Under this construction, a bank can create money to lend "out of thin air," and what they use, quite simply, is YOUR signature. A bank cannot lend you it's own money, nor can it lend you the money of its depositors. Let me repeat that:
A bank cannot lend you it's own money, nor can it lend you the money of its depositors. It is literally against the laws governing the use of banking licenses pursuant to Federal Reserve Banking Regulations.
I apologize I don't have the exact regulation at hand - but if you study this out you will find it to be accurate. You can start with the wiki link to fractional reserve banking above - this will show you how the money is actually created. Under FRB, a licensed bank is authorized to lend over NINE TIMES the amount of its deposits. (Technically it is 9x, but study reveals that the Federal Reserve its permitting its members to loan out much more than 9x).
What happens with your credit card, for instance, is that you sign an application. That application creates an account in your name (though you didn't authorize it). When you make a purchase with that card, say for $375.63, the bank receives a piece of paper with your signature. That piece of paper itself is worth more than $375.63, due to FRB. The bank now has an asset worth $375.63, and can now create more than $3380 in new money. It takes $375.63 and pays the merchant that you purchased from. So first notice that the merchant is paid, second notice that the bank used your signature to create $3,000 additional dollars. Now they want you to give them MORE! And they WANT YOU TO THINK that you also owe them INTEREST! HA! I know this is hard to believe, and potentially difficult to find the logical conclusions, but you can start to see why there is so much money in the stock market, and how the rich get richer (investors), while the poor get poorer (wage earners). It is not wrong to want to be wealthy, it is wrong to appropriate others' hard earned money without their knowledge or consent, which is what most "wealth" in our society is today. The only valid path toward more material wealth is to invest your own hard work, and to pay those who help you "appropriately."
Perhaps you can also start to see why the economic growth and calamity in the last 10 years (and longer) our system is going through is essentially an illusion at its core - and how ridiculous it is that millionaires and billionaires receive taxpayer funded bailouts to make up for money that shouldn't have even existed in the first place. Also take note that when our benevolent government [sic] creates the funds for these bailouts, they are simply borrowing against your signature again - most people are completely in the dark of why "the rich get richer, etc." It is because they know something they DO NOT want YOU to know. :-)
Anyways, the info in this book is very practical and easy to understand and follow:
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questions, comments: laverty_patrick@yahoo.com
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