The Beginning Of The End Ad
Gold Buying Guide: Golden Eagle Coins

Recent Posts

The Preppers Blueprint Economic Collapse Blog Get Prepared Now Ad

Enter your email to subscribe to The Economic Collapse Blog:

Delivered by FeedBurner

Money Is A Form Of Social Control And Most Americans Are Debt Slaves

Share on FacebookTweet about this on TwitterPin on PinterestShare on Google+Share on LinkedInShare on StumbleUponEmail this to someone

Money Is A Form Of Social Control And Most Americans Are Debt Slaves - Photo by Serge Melki from Indianapolis, USAIs America really “the land of the free”?  Most people think of money as simply a medium of exchange that makes economic transactions more convenient, but the truth is that it is much more than that.  Money is also a form of social control.  Just think about it.  What did you do this morning?  Well, if you are like most Americans, you either got up and went to work (to make money) or to school (to learn the skills that you will need to make money).  We spend a great deal of our lives pursuing the almighty dollar, and there are literally millions of laws, rules and regulations about how we earn our money, about how we spend our money and about how much of our money the government gets to take from us.  Not that money is a bad thing in itself.  Without money, it would be really hard to have a modern society.  Unfortunately, our money is based on debt, and debt levels in the United States have exploded to absolutely unprecedented levels in recent years.  The borrower is the servant of the lender, and if you are like most Americans, nearly every major purchase that you make in your life is going to involve debt.  Do you want to get a college education so that you can get a “good job”?  You are told to get a student loan.  Do you want a car?  You are encouraged to get an auto loan and to stretch out the payments for as long as possible.  Do you want a home?  You are probably going to end up with a big fat mortgage.  And of course I could go on and on and on.  The cold, hard truth of the matter is that most Americans are debt slaves.  Most of us spend our entire lives trapped in an endless cycle of debt that we never escape until we die, and meanwhile our years of hard labor are greatly enriching those that own our debts.

Have you ever found yourself wondering why you can never seem to get ahead financially no matter how hard you work?

Well, it is probably because you have gotten yourself enslaved to debt.

Just consider the following example about credit card debt from a former Goldman Sachs banker

On the debt side of things, how much does your credit card company earn if you carry just an average of a $5,000 credit card balance, paying, say, 22% annual interest rate (compounding monthly) for the next 10 years?

In your mind you owe a balance of only $5,000, which is not a huge amount, especially for someone gainfully employed.  After all, $5,000 is just a quick Disney trip, or a moderately priced ski-trip, or that week in Hawaii.  You think to yourself, “how bad could it be?”

The answer, including the cost of monthly compounding, is $44,235, or about 9 times what it appears to cost you at face value.

But a large percentage of Americans never pay off their credit cards at all.  They make small payments each month, but then they just keep on adding to their balances.

In the end, that is financial suicide.

If you carry an “average balance” on your credit cards each month, and those credit cards have an “average” interest rate, you could end up paying millions of dollars to the credit card companies by the end of your life…

Let’s say you are an average American household, and you carry an average balance of $15,956 in credit card debt.

Also, as an average American household, let’s assume you pay an average current rate of 12.83%.

Finally, let’s assume you carry this average balance for 40 years, between ages 25 and 65.  How much did your credit card company make off of you and your extreme averageness?

Answer: $2,629,618.64

Sadly, approximately 46% of all Americans carry a credit card balance from month to month.

How stupid can we be as a nation?

When you become enslaved to the credit card companies, your toil and sweat makes them much wealthier.  It is a form of slavery that does not require anyone pointing a gun at you.

But we never seem to learn.  Incredibly, 43 percent of all American families spend more than they earn each year.

As the chart below demonstrates, consumer credit actually declined for a short while during the last recession, but now it has turned around and the growth of consumer credit is on the same trajectory as it was before the last economic crisis…

Consumer Debt

Today, the total amount of consumer credit in the United States is 15 times larger than it was 40 years ago.

And every major “milestone” in our lives typically involves even more debt.

-The total amount of student loan debt in the United States recently passed a trillion dollars, and approximately two-thirds of all college students graduate with student loan debt at this point.

-Total home mortgage debt in the United States is now about 5 times larger than it was just 20 years ago, and mortgage debt as a percentage of GDP has more than tripled since 1955.

-Car loans just keep getting longer and longer, and approximately 70 percent of all car purchases in the United States now involve an auto loan.

-Want to get married?  That average cost of a wedding is now $26,989 which is probably going to mean even more debt unless you have wealthy parents.

-Do you have a serious medical problem?  According to a report published in The American Journal of Medicine, medical bills are a major factor in more than 60 percent of the personal bankruptcies in the United States.

Are you starting to understand why approximately half of all Americans die broke?

And I have not even begun to talk about our collective debts yet.

Government debt is a collective form of debt.  You may not have voted for any of the politicians that have been racking up debt in your name, but part of it still belongs to you.

Since the year 2000, state and local government debt has more than doubled.  These are collective debts for which we are all responsible…

State And Local Government Debt

And of course the biggest collective debt of all is the U.S. national debt.

In a previous article, I discussed how the national debt has exploded out of control in recent years.  If you can believe it, the U.S. debt to GDP ratio has increased from 66.6 percent to 103 percent since 2007, and the U.S. government accumulated more new debt during Barack Obama’s first term than it did under the first 42 U.S. presidents combined.

When you break things down by household, the numbers look even more frightening.

During Barack Obama’s first four years in the White House, the amount of new debt accumulated by the federal government breaks down to approximately $50,521 for every single household in the United States.

And as I have mentioned previously, if you started paying off just the new debt that the federal government has accumulated during the Obama administration at the rate of one dollar per second, it would take more than 184,000 years to pay it off.

Well, you might argue, none of that debt will ever be paid off in our lifetimes.

And you would be right.

But what we are doing is consigning our children, our grandchildren and all future generations of Americans to a lifetime of debt slavery.

How nice of us, eh?

Over the past 10 years, the U.S. national debt has grown by an average of 9.3 percent per year, but the overall U.S. economy has only grown by an average of just 1.8 percent per year.

How do we expect to continue doing this?

Fortunately, more Americans are starting to wake up to how foolish all of this is.

For example, the following is what Home Depot Founder Kenneth Langone told CNBC on Tuesday…

“The fundamentals haven’t changed … And we don’t know when the storm is going to hit,” he predicted. “It has to happen.If you look at our debt to GDP, eventually you reach a point where there’s no turning back.”

He used an analogy to make his point. “If you had one meal left, and you had your grandchild with you, would you eat if or give it to your grandchild?”

He said all people would say “give it to my grandchild.”

But pursuing the president’s vision, he argued, “[Is] eating the grandchildren’s breakfast, lunch and dinner right now. And the [grandchildren] haven’t been born yet.”

What we are doing to our children and our grandchildren is beyond criminal.  We are selling away their futures in order to make our lives more pleasant.

Right now, we are stealing more than 100 million dollars from our children and our grandchildren every single hour of every single day.

So where is the outrage over this theft?

Sadly, most Americans don’t even realize that all of this is by design.  When the Federal Reserve system was created back in 1913, it was designed to get the U.S. government trapped in an endless spiral of debt.

And it worked.  Today, the U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was first created.

Our society has become addicted to debt, and that means that we have become addicted to slavery.

We are not the “land of the free”.  The truth is that we are now the “land of the servants”.

Over the past 40 years, the total amount of debt owed in the United States (government, business, consumer, etc.) has grown from less than 2 trillion dollars to more than 55 trillion dollars

Total Credit Market Debt Owed

So who benefits from all of this?

I talked about this in a previous article.  The ultra-wealthy and the international bankers make enormous profits by lending money to all the rest of us.

According to a stunning report that was released last summer, the global elite have up to 32 trillion dollars stashed away in offshore tax havens around the globe.

How did they get so much money?

The borrower is the servant of the lender.  They have gotten rich at our expense.

But most people live their entire lives without ever understanding how the game is being played.

Today, most Americans see that the Dow is back above 14,000 and they hear the mainstream media telling them that happy days are here again and so they just believe that things are going to turn out okay somehow.

And it certainly does not help that most people seem to let others do their thinking for them.  In fact, about 23% of all Americans can’t even read at this point.

So is there any hope for us?

Please feel free to post a comment with your opinion below…

Money - Photo by selbstfotografiert

  • bwoboe1

    As long as the masses are entertained, they will remain willfully ignorant.

    Are you not entertained? The funny thing is, everything is entertainment today and is manufacturing consent amongst the masses.

    • Bigyimmy007

      Yes, “bread and circuses.”

      As long as the elite provide the vase majority of the fools with endless distractions and EBT cards, people won’t go apeshit.

      Just wait till the dollar loses it’s status as world reserve currency, as that’s the only reason this pathetic game is still going.

  • Tim

    I have never been in debt in my life. I have had credit cards for many years now, but I pay the balance in full every month. I use credit cards because they’re convenient, and they’ve helped me build a credit history. I’ve learned that having a good credit rating is important, not only for getting additional credit if I ever needed it, but for getting a job.

    If I don’t have enough savings to buy something, I don’t buy it. I don’t need material things to make me happy. To me, freedom from bondage to debt is the second greatest freedom. The greatest freedom is freedom from bondage to sin, a freedom that came to me over 17 years ago by God’s wondrous grace.

    • markthetruth

      “Freedom” is instead a license and an excuse to throw off the moral restraints of God in pursuit of selfish goals.

      the end…

    • John

      I could not agree more. Freedom from the debt of sin. Wow, Jesus has really paid off our debt. What a felling of relief!!!

    • Makati1

      Come here to the Philippines and marry an cute Filipina girl and live without debt. There are only about 41,000 Filipinos that have bank accounts out of 95 million. Does that tell you that you don’t need all that BS the US pushes? I’ve lived here along with about 200,000 other Americans for over 5 years. If you are married to a Philippine citizen, you can work here and live on a lot less.

      • Walter

        We get your point; you can stop your diatribe. Moving to the Philippines and marrying a “cute Filipina” girl is NOT the answer!

      • SuperUnnatural

        Is the Philippines as debt less as this person claims? I highly doubt their debt less claims. Satan enslaves the entire world not just the US but here in America it’s more obvious than the rest of the world that hell is real and those that run from Fromm village are the most pursued by it. Thank God that his plan is better than Satan’s! Amen.

    • Rock

      You should read what God has to say about money.
      You are guilty by association. Jesus worked a 9 to 5 didn’t he? READ FOR YOURSELF!

  • markthetruth


    plain and simple.

    the end…

    • Tim

      Actually, it’s the LOVE of money that is the root of all evil. (1 Tim. 6:10) Money itself is neutral.

      • markthetruth

        that why i said ,WE CANNOT SERVE BOTH GOD AND MONEY.

        Luke 16:13
        “No servant can serve two masters”

        the end…

        • WM

          According to my Greek studies on Biblical texts, the text actually reads, ” The love of money is the root of all kinds of evil” I may be wrong, but this is what I have found. Evil has many more “roots” than love of money, love of power is another root of evil. Lust is another root of evil. Not trying to be funny here, trying to correct you people, just wanted to share what I learned, as this verse is commonly misquoted as “Money is the root of ALL evil”

          • markthetruth

            Exactly ! the love of anything against the MORALS of GOD are evil.

            the end…

          • 2Gary2

            why do you always have to bring in lust to these discussions? leave lust alone.

          • __

            you don’t have a functioning penis

        • Tim

          You’re right that one cannot serve both God and mammon. But it’s not money that is the root of all evil. It’s the love of money.

          • markthetruth

            Exactly ! the love of anything against the MORALS of GOD are evil.

            But in our world money buy’s us all these evils.

            the end…

          • Money is a tool of exchange, a physical representation of our labor and of that God asks for a portion.
            Money doesn’t “buy” evil; you yourself spend the money, your “fruits of labor”, however you see fit.

            A person is not defined by how much they spend, but how they spend it.

            Therefore, money is indifferent to God. It is the heart he is concerned about.

          • 2Gary2

            show me the money!

          • __

            earn it you commie

          • markthetruth

            Jesus never carried any Money.

            and in our early days a Handshake meant more then anything.

            the end…

          • Then why was Jesus a carpenter for a majority of his life?

            I’m not going to give you any food because you can shake my hand. “a handshake meant more than anything?” Really? A handshake is a form of introduction or considered a binding contract between two people that a trade agreement has been met. Handshakes don’t get you things, its the same as money; based on good faith that what you get in return is worth something.

          • markthetruth

            All things were made through him, and without him was not any thing made that was made.

            the end…


            ok mate so do you have a job? how are you feeding your self??? if you work then you must not love god then cos you have to work for money … or why not load up ya trolly at the supermarket go up to the teller and walk out .. but dont forget to say sorry i dont care about money just my god.. take it up with the big feller.. he will sort it…. get ya head out of ya butty dude. if you were wealthy and i could nto imagine you are as you woudnt have your views you could help more people… been wealthy means you can free your time up as this is what we exhange for money.,… we exchange our time for money which then we can choose what to do with it… imagineby been wealthy all that time you could have.. all with helping people giving out money or supporting local people or communites… you will never be able to do this cos ya dont have a good mindset with money… by being free and i mean FREE no restrants you could be your own god or walk the shoes of jesuses and do hos work.. help people and do good with your wealth.. ull never see this wealth however with your mindset… so goodluck to ya.

          • markthetruth

            Psalm 37:4

            Delight yourself in the LORD and he will give you the desires of your heart.

            the end…

          • 2Gary2

            camel and eye of needle and all that. By taxing the rich hard I am advocating saving these poor MF souls.

          • __

            gary = useless dope living in mommies basement

          • davidramseur

            covet much?

          • 2Gary2

            no actually not–I have never coveted my neighbors man servant or his oxen so I can check that off the list of sins I did not commit. Its just the maid servant…

            Anyway I am trying to save the rich MF soul.

          • Robert (qslv)

            How about the sheep? Are they looking good about now?

          • bwoboe1

            It’s not about coveting, unless you covet fairness. The tax code says you are to pay this much. Unfortunately it has been twisted an turned so those with resources can avoid paying much of anything.

          • bwoboe1

            It would be nice if we could at least GET the taxes that are owed. I don’t like seeing all of these loopholes that allow someone like Romney to pay 14% tax rate while my tax rate is over 20% And every nickel is needed to live. Romney could have all but a net income of $1million taken and still be 20x richer than most people. Not needing for anything.

          • CISCO


          • bwoboe1

            Your point? I would never support Gore. He’s a megacorp millionaire too.

      • Bigyimmy007

        Thank you for pointing this out. It’s way too often misquoted.

        Unless man returns to clans and tribes, it’s nearly impossible to have a robust and complex society without some form of money.

        It’s just when people obsess over it that it turns bad.


      ignorance is the root of all evil…..God wanted us to be wealthy in all his richness.. its stated in the bible !! Who holds the wealth is in his choices of what he or she does with it!!! Having a view point as of yours does not help either you or god!!!

      • markthetruth

        having money is being selfish = ignorance so your serving money and not God’s MORALS.

        the end…

        • 2Gary2

          that’s right the selfish rich need to be forced to share–tax the rich and spread the wealth

          • markthetruth

            Wrong! Selfish means you will do anything to block someone else from getting a chance. Which is what is happening they deny other the same chance they had , with power, lawsuits to take their land, broad based patents, anything to stop anyone without money to succeed AKA Kearns vs Ford. intermittent windshield wiper

            the end…

          • __

            gary is a communist fembot living in mommies basement

      • 2Gary2

        ignorance is the root of all evil–This then proves conservatives are the root of all evil as they are very ignorant! I have been saying this like forever.

      • bwoboe1

        Seems like the world was a better place while Adam and Eve remained ignorant. Perhaps eating from the tree of knowledge is the root of all evil?

    • Robert

      Actually and in fact “The LOVE of money is the root of all evil.” I have known many people with lots of money over the years. They don’t worship or love it, merely use it as a tool to help others.


    I am happy that a had parents that raised me wisely on the down side of debt. I was told to pay cash if possible because it is not really yours till it is payed for. It is bad enough that the federal government and state taxes take a lot of our income, but to turn around and give the banks another 9% or more is insane. The problem with the people in this country is, this is NOW generation, everyone wants it now and until people learn to wait till they have the money this will never end. The banking indrustry has always been a rip off and it always will be.

    • markthetruth


      the end…

    • drlax15m

      People wouldn’t get in as much debt if they could keep the fruits of their labor up front, and unemployment would be lower if employers didn’t have to cover so much payroll tax, everyone would be happier and better off.

  • Tim

    The problem is that if you want to live the middle class lifestyle, it’s hard to not get into debt, especially for the bigger purchases like a house, automobiles, education, etc.

    I remember many years ago when I came to understand how real estate mortgages are a scam. A bank lends you money that they don’t have, charges interest on that money that they literally created, and if you default on the loan, they take your property. And if you manage to make all the payments over the life of the loan, you’ll pay MUCH more in interest than the original principal balance, especially on a 30-year loan.

    • Ralfine

      I got a loan for a house. It’s about the same amount I have on my savings account. I use my savings to have cash in case of unemployment, and to pay the rates regularly.

      The house loan has a fixed interest for 10 years, which was originally lower than the interest I got for my savings. And I can repay part or all of the loan any time I want.

      I used the loan mostly for energetic refurbishments – insulation, solar heating, heat pump, under-flor heating, triple-paned windows, etc. Now my energy use for heating and hot water is about 30kWh/sqm and year.

  • The problem is brain washing by the very institutions that know better. The first thing a student does at college is learn about credit cards. The problem is they get out of hand. Then they learn about bankruptcy.
    The credit card people get to the most vulnerable segment of our population. People between 18-24 years of age. Same people at high risk from the insurance companies.
    I call it the mating age. Because these kids are all about impressing one another with various daring things they do. Money is no object to someone in this stereotyped individual group.
    But then again they have learned from the pros. I refer to the U.S. Government that will not balance a budget within the means of the taxes they collect.
    They get graduated and guess what? No jobs out there for them to qualify for. So they have to take lesser jobs to survive.
    Meantime, they have all kinds of school loans to pay back.
    Good article, Michael. You are right, it is a form of slavery.

    • MichaelfromTheEconomicCollapse

      Thanks Dave. 🙂


  • markthetruth

    Maybe God Should come of our money as the two do not go together.

    the end…

  • 2Gary2

    If the minimum wage had risen in step with productivity growth it would be over $16.50 an hour today.That is higher than the hourly wages earned by 40 percent of men and half of women.

    This is the productivity theft that the rich MF have done to the rest of us. 16.50 less 7.25 (current min wage)=9.25 per hour for EVERY hour of work by a min wage worker. The rich owe big time! This does not take into account the effect of the productivity theft on higher paid workers. The corp owe big time!

    So you see dim witted conservatives the rich have been stealing from all of us and its time to tax the MF hard. Payback time!!!

    • MeMadMax

      Dude, go take an economics class….

      Min wage has nothing to do with rich or poor, it’s tinkering with laws of economics….

    • WarriorClass3

      See reply to your first stupid comment.

    • __

      LMAO at clueless pos libs

  • 2Gary2

    Here is how to do some of your very own wealth redistribution from the rich/banks to yourself.

    I have seen several people do this. I am not one of them but do admire their creativity.

    Get several credit cards. Charge a little and pay off the balance. When your credit line is way increased live the good life and max them all out. Then get a pay day loan for $1100 or so and file bankruptcy, using the pay day loan to pay the lawyer. Be sure to include the pay day loan in the bankruptcy. File Chapter 7 and walk away. After 7 years you can repeat. The banks will eagerly give you more credit.

    I have literally seen people walk away from over $70,000 in credit card debt. It works.

    • markthetruth

      That’s Nice promote illegal activities!

      the end…

      • 2Gary2

        There is nothing illegal about what I said. Maybe a tad immoral but not illegal.

        Your just upset as you did not think of this.

        These credit cards are unsecured. Sucks to be the bank.

        • __

          gary is a low information obama pos

    • __

      you are a pos but heck, you already know that

    • Ralfine

      In 2008 credit card companies cancelled credit cards for those who always paid back their credit without incurring interest charges.

      At the same time the credit card companies were trying to get more customers.

    • peaceangel

      You and your friends are the problem in America and because this is against the law hopefully all of you will end up in jail. You are truly one of the most pathetic losers ever.

    • TtT Engine

      This is theft/fraud if you were raised in a Judaio-Christian value system. This is creative if you are a Godless leftist that plays loose and fast with OTHER’s money. Any wonder why the U.S.A. is $17 trillion in debt and $122 trillion in debt for longterm unfunded liabilities ? Bankrupt ! Christi Fidelis !!

      • FactsOnly

        THANK YOU!

    • FactsOnly

      You write, “Here is how to do some of your very own wealth redistribution from the rich/banks to yourself.” Frankly, I think this is disgusting. We all pay the price for such greed. Also, if what you are describing is done intentionally from the get-go how is it not bank fraud?

  • 2Gary2

    It would seem that employers need to pay better wages

    • WarriorClass3

      Wages have been manipulated by increasing the labor supply via the Immigration Reform Act of 1965. It was no accident that wages started stagnating in the 70’s and falling thereafter. If you commies had any idea how the real world worked, you wouldn’t be so easily manipulated by the democrats, who actually work for the international bankster cartel, you idiot.

      • 2Gary2

        you are correct about the immigration. There are more of us progressives who want to round up the ileagels and send them back.

    • Ralfine

      Yes, that’s the only way out of the crisis. Give the people wages so they can buy goods that can be produced by people having jobs.

      Profit is still rising, but those receiving the profit won’t buy more bread and other food, or take more bus rides, or make more phone calls, etc.

  • 2Gary2

    Michael–good article. We had to live on credit cards to simply eat and keep the lights on while I was unemployed in 2009. Just when you think you have a handle the GD car breaks down and back into debt. Waged are way too low to save up for these irregular type of bills so out comes the credit card.

    I think you maybe should have pointed out that due to employers paying such crap low wages the only way to make it is to use the credit card for necessities like medical/dental, food gas/electric etc. I am used to eating and living indoors.

    Somewhat unrelated–does anyone know why dental care is so expensive?? The reason a lot of poor are missing teeth is that a crown is $1200 plus. WTF? Greedy fing dentists

  • 2Gary2

    “There is no economic reason why those at the bottom should not share in
    the gains from economic growth. And there is no economic reason why
    those at the top should be such disproportionate beneficiaries. We
    rigged the deck this way more than three decades ago. We can restructure
    the rules so that money no longer flows upwards. A minimum wage that
    again follows in step with productivity growth would be a large part of
    this reversal”.–Dean Baker

    • __

      you are a typical low information communist pos

  • K

    Debt is sometimes unavoidable. Such as medical bills. Or in my case, my first house. I had a 30 year mortgage and paid it off in 12 years. I had debt, but did not find it acceptable. So I got out of it as soon as possible. Since then I have never again had a mortgage, or even a car loan. But lets face it, most debt is because people are told,things will make them happy. And for reasons I can not understand. They just keep buying into that nonsense.

  • Barterninja

    I was lucky and managed to get a job while in college right now. I am now slowly saving up my money and hit my student debt all at once along with have enough for the next two semesters to not pull out another loan since I have a scholarship. Again, I am lucky thanks to only having pulled loans out for two semesters where as others have pulled out a lot more. I am planning to go the route of self-sufficient with permaculture and low cost tiny house as I don’t want to have to suffer from “energy debt” from the big McMansions.

  • JW

    This talk goes on and on. The accumulation of debt should end badly but when? So long as people are willing to continue to work within this system there is no reason for it to end. When they stop in significant numbers it should end of itself.

    But I doubt they will stop before there is no other choice left. Simply talking about how bad it all is will not be sufficient. People prefer the known evils of debt to the unknown evils of the aftermath. Chaos is never fun except in an adventure story.

    • WarriorClass3

      It will end when the dollar is no longer tied to oil, and that day is coming sooner than you think. The mooselim brotherhood is taking over the middle east, and then the house of Saud falls, that great whore of babylon, and with it the US dollar. Game over.

  • Anonymous

    I am so glad that I am 18 years old and so aware of what goes on in our systematic society. I do not belong in my generation. I have not received a real education from my school, because obviously majority of schools use “fluff.” I do have an education from myself, because I care and research..

    • Jodi

      Excellent. Glad to hear someone your age is not asleep at the wheel. We need more people like you!

    • markthetruth

      systematic society ? how’s about disorganized society. congress and senate is anything but systematic.

      the end…

    • Makati1

      As I said above, come here to the Philippines and marry a cute Filipina girl and live
      without debt. There are only about 41,000 Filipinos that have bank
      accounts out of 95 million. Does that tell you that you don’t need all
      that BS the US pushes? I’ve lived here along with about 200,000 other
      Americans for over 5 years. If you are married to a Philippine citizen,
      you can work here and live on a lot less.

    • NS

      Bravo to you. Live small and don’t use credit. Keep your taxes low and learn skills that allow you to earn cash and to create your own small place to live. You will be so so far ahead someday. One older book that talked about all of this 2 decades ago is called, “Your Money or your Life”. I urge you to read it. Lots of perspective on this stuff.

  • WarriorClass3

    “Government debt is a collective form of debt. You may not have voted for any of the politicians that have been racking up debt in your name, but part of it still belongs to you.”

    No, it doesn’t. The government can and will steal from you to pay off this debt, but that no more makes you responsible for it than if a thug pointed a gun at you to steal your money to pay off his debt. This is an illegitimate government, and such acts only prove the point.

  • WarriorClass3

    Beware the ides of March.

  • Marc

    I think the debts are no problem for the grandchildren etc. because the debts will at some point not being paid back to the creditors. the debts are a problem of the creditors.

    • __

      yes, the joke is, “if you owe someone 1 million dollars, you have a problem. If you owe someone 1 billion dollars…. THEY have a problem”

    • peaceangel

      No, our debt is to China and is a problem for all the generations to come. When the US dollar crashes and it will, the Chinese Army will be at your door to inform you that you now live in a communist owned and operated nation and that everything is about to change. Most nations don’t make it past 200 years without another country taking them over. We are primed and ready for a takeover and our politicians plan to give it all away to create a new world order run by the UN.

  • __

    we should all work for gary, he will give us $16.50 for flipping hamburgers, my wife and I can work in McDonalds and buy a house for $300k. oh wait…………….

  • seb

    we just get what we deserve, most people are total idiots and they’re not even willing to understand, no matter how hard you try to explain them … it’s said because people that do understand have to suffer the stupidity of this world


    First off, I say die with as much personal debt as you can. It doesn’t transfer to your children (yet) and leaves a giant hole in the banks spreadsheets, they deserve it.
    Second, looking at the Federal Reserve Note I started asking myself, if this is an IOU who pays in the end?
    The Fed creates money that is loaned to the government who in turn gives it to us (or the banks in modern experience). So if I have money saved up when it all comes crashing down it logically would go back to government and ultimately the Fed.
    All the money I have is debt I owe to the Fed then…yeah I will take another credit card! 🙂

  • So, you don’t like publishing solutions? Is that why you’re associated with Alex Jones, scare people and never tell them how to beat the elites? I doubt you have the guts to discuss this with me.

  • james

    Americans are ignorant.

    • markthetruth

      No! they are Selfish, and your own family member will Stab you in the back for their own gain.

      the end…

    • Jackson

      Yes james, they are. Why I’ll bet you didn’t know you were a dunce!

  • Jodi

    One of my favorite things someone once said to me & I nearly died when I heard this.
    “We’ve always had debt…what does is matter?”

  • Jeremy

    I’m really happy that i don’t go to college because of dangerous student loan debt and I’m poor class so I just going to find a low income job and educated myself by read a lot of stuff on internet. I’m very careful and don’t spend more than I earn and put extra money to savings.

    Great article.


    • Ralfine

      Get into an apprenticeship. Learn something useful, like plumber, carpenter, butcher, masseur, tailor, etc. not just stacking supermarket shelves.

      • Jeremy

        Oh okay. I will look those professions up. But there may be greatly limited jobs to find because I’m deaf.

        • Ralfine

          Yes, maybe difficult to work with a phone.

          I had massages in the Philippines and China by blind people.

          Deafness might be a problem in a factory setting, on the street or railway where danger is indicated by sound.

          Customer contact might be a problem. Especially since less people can read in America.

  • FounderChurch Church


    Yet the the Holy Book says that “Money answereth to ALL things.

    The difference between these two statements about money is where humanity falls headlong down the stairs of life.

    How do we respect money, without falling in love with it. How do we respect our spouse without abusing her, or him?

    Finally, the poorer a person is the more likely he is to Love Money, rather than respect it. Now, that doesn’t mean that the rich don’t Love Money, clearly they do, and clearly it is a great sin and evil.

    But, while Loving Money is bad and hurtful to the rich it is totally devastating to the poor, and it drives them even farther into poverty. Their way out is to totally clean themselves from any Love of Money and to totally immerse themselves in Respecting Money.

    As usual Democrats are the chief Lovers of Money, and the least Respecters of Money. While Republicans tend to be just the opposite.

    The cure for poverty is to stop teaching our poor people to Love Money and start teaching them to Respect Money.

  • gkjohn

    You do not Walk away from Debt!!! The banks send you a 1099 Misc. INCOME reported to the IRS Then the IRS (which is a colection agency from Pueto Rico ) takes away all or any assets, including pensions and Social Security and all bank accounts. I know I walked away on $153,000 of credit card debt. Michial when are you ever going to do a post on ::HOW many people OWE money to the IRS ???

    • markthetruth

      1 thing the IRS is holding more than $1 billion in unclaimed refunds.

      the end…

  • Ralfine

    The president didn’t ship off jobs to China.

    That was done by those rich guys that are usually defended by everyone except Gary.

    The government couldn’t prevent it anyway, since “everybody” opposes such influence by the government.

    • peaceangel

      The presidents he mentioned DID pass laws that created factory farms and closed manufacturing plants and made it way toooo expensive to do business in America compared to every other country on earth. The government is the president and congress and the senate and they all purposely did this and we let them do it. The rich guys are the business partners with the government.

  • Ralfine

    Yes, and you elected those politicians.

    • MeMadMax

      lol! Is there some point to your post?

  • Ralfine

    Did you know that a dish washer uses less energy and water than washing dishes by hand?

    • plastic guy

      This actually makes a lot of sense!

      We all need to use less plastic. It’s crazy the amount of plastic we waste. It all gets thrown in the ocean too where it just sits there and kills things. Great job humanity.

      • Ralfine

        It only lands in the ocean if you throw it away or don’t recycle it.

        Lots of plastics can be recycled now to make pavement slabs and litter bins and plastic sheets and plastic bottles and others.

        The plastic I have I use as long as possible, wherever possible I try to avoid plastic packaging, I usually don’t get plastic bags in the shop, most of my furniture is wood and comes from other people who have discarded it (except the beds).

        In regard to clothing, if you maintain the leather regularly and have the soles of the shoes patched in time, you can keep them for decades.

        Anything you don’t need to replace you don’t need to buy. And save money. And put that money into long-life products. A stone house, windows and doors that make burglary more difficult and time-consuming, insulation of walls and floors and ceilings, heatr insulation and sound insulation, an efficient heating system, smart appliances that “talk” to each other or figure out which one to interrupt in order to keep the peak load low.

  • You’re a fraud, Michael. You deleted the solution I gave you and you hid from my challenge to discuss it.

  • Mondobeyondo

    1 Timothy 6:10…..that pretty much sums it up.

  • Happy Today

    I’m happy to be debt slaver,as long as I have home,car,luxury items which my grand parents never have, even they worked much more harder. Work,live,and enjoy every thing you can have today,don’t wait until to old

  • buddha

    MIchael Perkins of “Confessions of an Economic hitmen” talks of his experience in the 70s in Indonesia. He spent a lot of time with the local people there who do not like America.

    Historian Arnold Toynbee (I hadn’t heard of him before Perkins name dropped him) wrote about the potential rise of Islam in the 1840s. He said it had everything to do with the commitment of their beliefs. Capitalism isn’t committed to anything in particular. The Muslim people have a deep devotion to God. They don’t believe in usury. They believe the United States is raping the planet. And this is stuff he was hearing in the 70s.

    Makes sense when you think about it.

  • Mondobeyondo

    How do rich people become rich?

    Well… ya know…
    Here are a few people you might want to do research on. But be very, very careful. Some of these people are rather unethical, shall we say…

    – Steve Jobs
    – Warren Buffett
    – John Dillinger
    – Malcolm Forbes
    – Bernie Madoff
    – Benjamin S. Bernanke
    – Dave Ramsey

    Good luck, and enjoy your newfound wealth!!
    (toilet.. where’s the toilet? I need to puke)

  • Rufus T Firefly

    This is how it should be. Those who have been blessed by God and have worked to become successes should have dominion over the lazy, stupid 95% who do not. Let them be satisfied in their trailer parks watching sports and the Kardashians.

  • peaceangel

    A DHS whistleblower is speaking to the Canada Free Press and has leaked the name of the gov. plan to collapse the economy and to destroy the US dollar. It is Operation Thunderdome and he says it is just around the corner.

  • peaceangel

    you are one of the truly few people who has a total grasp on what is and is about to happen and no country will be unscathed for decades to come by this collapse. 178 nations signed Agenda 21 in 92 agreeing to create a new world order and to do so they have to crash the entire world economy and close all the banks and that is happening now. The name of the plan to do this is called Operation Thunderdome and a DHS snitch is talking to the Canada Free Press about it now.

    Where do you live?

  • Handog

    Agreed. I “owned”a home for 12 years until my business took a nose dive in 2007. Looking back I didn’t own anything, the bank owned me. We now rent a small but nice apartment in another state. We don’t have a lot of nice things, no fancy furniture But we have zero debt. Little stress.
    My wife and I roll our eyes now and then upon a well meaning yet condecending remark we get from a “home owner” who is under water on their loan. Seven different credit cards maxed out and on the verge of a nervous break down. They potty us for renting even though, if their morgptgage is ever paid off they will still be paying rent to the Government in the form of property taxes forever.
    Many poor people are disguised as middle class. Smoke and mirrors.

    • frugal man

      Handog: Double agree. I’ve ‘owned’ a house for 12 years also. My business went under in 2007 due to the real estate industry taking a nosedive. I tried to keep my business afloat using credit cards. That didn’t work. Long story short, I filed a BK in 2011, losing home I ‘own’ March 1st, 2013. Never missed a payment until last year.
      As you said, the bank owned me!!!!
      Never again.
      Moving forward.. Purchased a house on land contract from a retired individual. Agreed to pay off in 4 years. After that, I plan on ‘renting’ it out to receive an income stream and tax write offs.
      I pay cash for everything now. Live within my means. No stress, financially speaking. Wishing you and your wife the best

    • Bigyimmy007

      The best part of the mortgage scam?
      Even if you somehow pay it all off, you never own it.
      Fail to pay your property taxes and Uncle Sam is there to breath down your neck and take it away at the drop of a hat.

      I seriously hope mankind someday, somehow learns to always be vigilant with it’s government and make the State fear them, and not the other way around like it happens every single freaking time.
      Even with the most benign of governments, the citizenry get complacent over time and let the corruption seep in and erode society over time.

  • >> we are stealing more than 100 million dollars
    >> from our children and our grandchildren every
    >> single hour of every single day

    I would argue that it is not we who are stealing it all – it is the banksters who are stealing the lion’s share of it. Monthly compound interest, they way they charge it is usury and must be abolished. Fractional Reserve Banking ala the Federal Reserve must go too.

    There is no rational excuse for our country & our people to go into such deep debt to these evil parasites – Treasury can & should create & manage its own money supply. Banks *could* be required to charge only simple interest on loans to individuals for basic necessities such as for housing, transportation, education & medical care.

    There’s no reason (other than it would reduce the profit of the parasite banksters) why low-income people should not be able to get simple, low interest loans for modest starter homes and basic fuel-efficient vehicles. It would be so much better for society as a whole if they could, rather than be trapped having to pay rents to slum lords or high-interest loans to banksters who gouge them to death every month, leaving them unable to save a dime for retirement and constantly living in fear of being homeless or losing their only means of getting to and from a job.

    Unless the congress is willing to free themselves from their own slavery to Wall St & Corporate pirates and place serious restrictions on the ways banksters are allowed to operate, the only other option for the people to break free of the debt slavery would be for everyone to default on all their loans, all at the same time. If 20 million people did that, say on April 1st (Jokes’ on you , banksters) the evil bastards are not capable of jailing us all or evicting us all or repo’ing all of our vehicles.

    Maybe it’s time to wipe the slate clean and start over with some new rules – that favor the common man. If the govt wont declare a debt jubilee, maybe we all need to declare one of our own, en masse.

  • Rob Roy

    I am an ordinary man living in Canada. I have been saying what you’re saying for years. I have suffered the consequences because people have looked at me as a pessimist that should be ignored. People are pretty dumb in general; until they get hit by the pain of not being able to find employment, buy what they want, go on holiday, pay for their children’s education etc. They have to be in dire straights and feel the pain before they wake up. Even then, they expect the institutions who caused their crisis to fix it. 1930’s, here we come.

  • HopeisNOTtheanswer

    You are what’s wrong with the world. God bless you. Hopefully you can work past your own darkness and realize you’re stereotyping people with money to be “evil” or “thieves”… There are MANY ways to EARN money. Also, there are many good things to do if you find a way to earn it to help others! Your comments do NOT differ from those of a racists. A racists would say they might “hate black people because of the high percent of crime they cause…” Actions are done from an INDIVIDUAL not from everyone who is in their same situation.

  • Bigyimmy007

    Exactly, the federal reserve banking squids understood this trap they created as thus:

    1. Force a society to use a currency(you need FRNs to pay taxes, pay bail, etc.) that is constantly devalued and invisibly taxed (through inflation and legalized counterfeiting by the State) and slowly degrade their morality through endless propaganda.

    2. Destroy the manufacturing base(by passing “free trade agreements”)and reduce percentage of population that has self-sustaining skills (gardening, carpentry, etc.).

    3. When said society is reduced to wage-slave jobs, they no longer do anything productive or are even able to make money, thus creating a need for credit and that leads to dependency on either the State, or to lenders.

    4. Convince the people that it’s their fault.

    So sad…especially when you consider the side-effects of step 3 and 4, whereby the first 2 steps normally lead to population decline, but 3 and 4 lead to exponential population growth (that is mostly unsustainable due to the end of cheap oil) and eventually when society collapses a blood-bath and mass die off will have to occur.

    This whole rotten system is NOT THAT CLEVER, yet…it has absolutely succeeded in destroying civilization THE WORLD OVER.

  • TK

    Is there any hope for us? Nope!

  • Elllman

    I believe that we are now positioned to experience a rash of bankruptcies – individual, company, local & state governments – like we’ve never seen before. This level of debt has to start manifesting itself in some manner. If you catch the flu you can’t avoid getting a fever. You can recover from the flu but recovering from debt can be a very lengthy and miserable process, if you recover at all.

  • Get Real

    This article needs to differentiate between responsible and irresponsible debt. Taking out loans to get a degree that enables you to pay back that loan is not in and of itself irresponsible; that debt is not “bad” – it’s a means to an end. Taking out a loan so you can have a safe vehicle to put your children in while you pay it off at .9% interest (Honda), is not irresponsible so long as you pay it off quickly (under 3 years); if you have the right degree you can do this (you need to watch the economy when you choose your educational path). There is no elite that I have seen that is not as stupid as the common person: they drink diet soda, they take Ritalin, they are in debt up to their eyeballs as well – only their debt is called “investment” – and their investments tank. Slavery implies a life of unending hardship. If you have a roof over your head, good food, access to healthcare, and a car, you are doing well; there isn’t a person on this planet who is not inextricably bound to a power contract between themselves and society. Not even kings my friend.

  • I agree, but how do we prepare?

    If this happens, the only way I see is a return to kitchen gardens and local industries. So, you might want to buy fertile land, seeds, a tractor, and knowledge from your local farmer. That is, if Monsanto doesn’t lay claim to your seeds and fields of produce.

  • nicthstic

    If we can’t dramatically reorganize than the public should demand a default. The current system is broken and more effort should not be put into trying to salvage it. It may be time for a reset, which will be very painful now but is preferrable to our current path of a long and draining descent into economic oblivion.

  • FactsOnly

    The country is in gross debt and what are they trying to pull again? REAL ESTATE the biggest debt of all. Do they actually think anyone in this 2013 economy where there are practically NO jobs young or old – that anyone is going to go into a fortune in debt over a house? My answer? NO WAY I say to them – shove your overpriced dump. When real estate crashes this time I say it is going to make 2007 look like a ride in the park.

  • techwriterguy

    The challenge of our society is that as things change and models of business and value change, the tension grows between old wealth and new wealth. Case in point: a single family house. Maybe the seller wants $200K but it is only worth $150K. The seller is very very reluctant to accept the truth of the changing marketplace. So, things get stuck and gridlocked.

  • Ll

    Too many selfish and ignorant people, who are too important to think past their nice clothes, big house and fancy car. It’d be great if everyone took an interest in the truth and finally took action. As an entire country, we have millions of people capable of millions of things. Remove money, create a network, and we could all contribute to a self sustaining society. Reliant on nothing more than one another and ourselves.

  • Holy Ghost

    The truth is money has never been worth anything. This truth also includes the illusion of debt. The problem is solved once we all start loving each other and put away these caveman ideas of you owe me something. Life has been a free gift to us all. Holy Ghost

  • Holy Ghost

    More truth.
    Something’s that only exist in imagination.
    Santa clause
    Easter bunny
    Worth of money
    The world
    To name just a few…..think about it..I the spirit of truth am in you also.

  • NS

    I’m 60 and I’m finally educating myself about this and all of what is said above is right. I’ve spent the last 3 years reading the history and the facts…. it is really horrifying what wealth transfers are doing to not only our country but the entire world – this is all transpiring on a global scale.

  • Emily

    The US dollar is no longer backed by gold, it’s backed by the debt of the American people. We ARE slaves to money, and WE back the American dollar. Support small business not large corporations. Use each dollar you spend is your vote, as our votes don’t matter anymore anyways, because a large corp can pay to have things changed to benefit them. WE need to get our power back as citizens, and people need to start thinking of the Government as OUR employees, because WE pay them. They are not using our tax dollars the way we voted them to… So frustrating… This is what I think about everyday at my pointless job, just thinking about how I can escape this type of life. It shouldn’t be like this, life should be so much more beautiful. If any of you die tomorrow would you be happy with how you spent your time? Ignorance truly is bliss.

  • SuperUnnatural

    Why does the Obama involvement wreak of the Bernie mad off scandal? Oh yeah, because Obama is part of it……

    Our Protestant Christian founding fathers deliberately made taxes illegal in our country forcing King George to back off through an Declaration of our freedom from England. Occult democratic liberals have nearly destroyed that declaration through illegal politics and satanic suggestion. The average child world wide these data is completely savage and demonically possessed. Politicians and huge businesses as described in this article represent the circle of hell known as greed or fraud which Obama comes from fraud, he is the symbol off the beast called fraud. The Egyptian Sphinx is the same symbol. Kids are brainwashed through public school into paganism using one satanic lie that ‘they can become like adults if they reject parental authority’ just like satan told eve in the garden of Eden. Parents get enslaved through money. ‘The love of money is A root to all kinds of evil’ ( but it’s not the only evil). We are now entering into the 9th circle of hell which is for the violent deliberate or malicious sins against God and humans and nature. We are leaving the 8th circle of hell called fraud. Obama or Geryon has brought you to the savage age.

    This IS our inferno. God save us from this place.

  • SuperUnnatural

    We are now entering the 9th circle of hell. Leaving the 8th circle of hell called fraud.

    Our Protestant founding fathers said in the constitution ” No taxation without representation” to make King George stop using scams and fraud to try and enslave us with. This occult government by brainwashing children ith the same satanic lie from the garden of Eden telling them they can have adult privileges too and don’t need God or parents or adults telling them what to do is the same lie lucifer told eve in the garden of Eden that she could be like God.

    And as much as you want to believe that any place on this planet is debtless, you’d be lying claiming so. The Philippines are not debtless. They have less “civilization” like access to medicine or to a court, more primitive than we are. They are more natural but also more savage than the United States. Nature is a good thing, the human heart is not. You have been blind to your journey through hell. Open your eyes and realize that this was planned not accidental.

    Obama administration has a deeply rooted connection to the madoff scandal (Bernie madoff as in made off with our money). He is the mafia boss that Obama is taking orders from along with occult organizations running our government. Wake up. Even electronic harassment is all part of the satanic torture being committed against all humans. There is no such thing as a safe place anymore. Geryon or Obama is bringing us to the cliffs that drop further into hell into the violent deliberate sins/crimes against God and nature and against humans. Brace yourselves for this next phase. This is going to get uglier come the 2016 elections and then you will see the one. You know who I am referring to…… I pray that God get us out of here and defeat the devil. Amen.

  • SuperUnnatural

    Censorship is contamination of evidence, limited liability is obstruction of justice, children’s rights or sexual rites is pagan sexual religions, democracy is pagan/satanic, electronic harassment or torture is badgering witnesses, unsupervised noisy children are terrorists, single mothers are satanic pagan ‘sacred’ prostitutes. Governments as become slavery. This is how the occult works. Special interest groups are terrorist sleeper cells who corrupt the courts through bribery using feelings or emotional bribery while electronically contaminating evidence through media manipulation and illegal censorship. Erasing comments is another form of contaminating evidence, the police and military are used to further harass the victims with while unrestrained unraised savage children are the strays who do the most damage through their forbidden fruit of ‘rights’, the satanic lie as repeated in Harry Potter, Peter Pan and through cartoons such as ‘South Park and the stick of truth’, all are from the pagan Luciferian lie that ‘your eyes will be open and you will be like gods’.

  • SuperUnnatural

    Withholding information is part of obstruction of justice as is contaminating evidenced or planting of evidence. The police, military and government ‘officials’ have been trained to commit all of the above. And then some.

  • SuperUnnatural

    They censor my comments more adamantly when I mention Bernard Madeoff or Madeoff in the same sentence as the beast of fraud called Obama, Geryon. Waste management aka the garbage man is the mafia owned identity theft ring, the IRS is the ‘Sheriff of Nottingham’, and the fbi, Nsa, cia, dhs and all other illegal mafia organizations ‘gay rights’ et cetera are the 10 corrupted kings that all are occultic slaves themselves.

    Gathering of information is identity theft. But don’t you already know this by now???

  • Evan

    An economy with money can not work unless that money is in debt. Look it up. Also an economy can work without currency, it would just be naturally economy where goods are cared for based off their inherent value and not their currency value.

Finca Bayano

Panama Relocation Tours



Facebook Twitter More...