Comments on: The Credit Card Trap: How U.S. Credit Card Companies Are Sucking The Financial Life Out Of The American Consumer

By: Anonymous

Anonymous — Wed, 11 Jun 2014 05:53:00 +0000

Shouldn’t usury be illegal?

By: Anonymous

Anonymous — Wed, 11 Jun 2014 05:52:00 +0000

I’ve always objected to credit cards and so far I’ve been able to get along without them, though sometimes it’s inconvenient when making reservations for airlines or hotels. And yet I still object to the financial insanity of our national financial irresponsibility that mirrors the credit card habits of the majority. Please realize the slavery that you put yourself into when you have to get someone’s authorization to make a purchase! If not, it could be forced on all of us and set us up for the worst kind of tyranny by someone like an Adolf Hitler II on steroids.

By: Rex Murphy

Rex Murphy — Sat, 04 Sep 2010 17:43:59 +0000

An absolutely chilling read. It’s completely insane the way what was originally designed to be some sort of convenience has turned into a way to increase profits to staggering levels. All at the expense of the taxpayer and consumer, no less.

http://findingdebtsolutions.com/average-american-credit-card-debt

By: Fred Walker

Fred Walker — Wed, 24 Feb 2010 02:22:46 +0000

People begin using credit cards with the best of intentions. They begin using them for the convenince they offer and then life happens. It is difficult for most of us to plan for the future. That is why Social Security was initiated. The government should protect its citizens from corporate greed but instead it has sold out to special interests. The problem is not the banks. They are supposed to look out after their own interests and make the greatest profit they can for their stakeholders. The problem lies with our elected leaders who have failed us. Just look at what they have allowed the peddlers of niccotine to get away with if you have any doubts. Look at the so called Bankruptcy Reform and Consumer Protection Act they allowed the banks to buy in 2005. The fault lies not with Citibank or Phillip Morris. It lies with our legislators. The system is broken. The Dollar is loosing its status as a reserve currency. We will survive; but only after the great day of reckoning has humbled us all.

By: M2

M2 — Sun, 21 Feb 2010 11:45:13 +0000

Your social security number has a bond number on the back (if you got your card in the last 25 years). When you applied for the SSN, you gave power of attorney to the UNITED STATES corporation to access your bond, trade it, and make its proceeds available to financial institutions.

Credit card companies offer you access to your OWN credit. How ironic is it that you have to APPLY for a credit card, when you already HAVE the credit used to fund the card? It’s called a blocked credit access system. Think about it: How could credit card companies give all of the those cards and credit to folks a few years back? Remember when you’d get 3-4 offers every day? WHERE did the credit come from? It came from YOU! That’s the scam you should be investigating.

Your credit is backed by the bond on your SS Card. That bond is used to back Federal Reserve Notes which have serial numbers identical to the bond on the back of your card. Why do you think that the Government wants illegal immigrants to get SSN’s? Their bonds capitalize the Government and fund its operations. Ask your self why Walmart and Blockbuster want you to fill out applications that require a SSN? Yup, they are accessing your exemption account/ssn and using it to fund their business operations.

Oh Yeah, CHASE offers 100 bucks for you to open a new account. Yup, they just got your SNN and dinged it for at least a million bucks. And you thought you were broke!

And to think that every pensioner suffereing on $600 a month in social security is worth hundreds of millions on paper. It’s a crime.

Guess who collapses the SS account and liquidates the bond when that pensioner dies? Yes, its a rhetorical question.

By: 7towers

7towers — Sun, 21 Feb 2010 01:36:04 +0000

I would just like to point out that since the 1980’s up to the present moment the cost of living for the average american has increased substantially. Each year we have had to endure rising costs in all the essentials. Adding to this the Employee contribution towards health care was subjected to increases in the last 3 to 4 years yet each time covered even less while the out of pocket and deductibles increased.
The only problem is our annual salaries barely increased. For 30 years I have watched this unfold with each year living costs rising exponetialy.
For the last 15 years I have been wondering where is all the money going???
Salaries and what companies offered for benefits decreased in at this time as well.
These banks and financial institutions have been robbing us since the 1970’s. While its hard to imagine , irrational even, that they would suck the life out of their cash cow middle america but I do believe we are dealing with addiction in the form of greed. Money/Power create an insatiable appetite for more replacing the “reasoning humaness” with an addictive driven insanity.
http://ampedstatus.com/the-economic-elite-vs-the-people-of-the-united-states-of-america-part-i

By: ajay

ajay — Sat, 20 Feb 2010 15:40:22 +0000

Credit Card Industry Promotes New Card Based on Slavery to Stem Mounting Criticism

http://wp.me/pIP1s-34

By: fred gorsline

fred gorsline — Fri, 19 Feb 2010 20:12:31 +0000

Credit cards are supposed to be used as a convenience when shopping–the CC companies are in business to make money–if everyone paid their balances each month they’d make a heck of a lot less. With that said it is a lack of DISCIPLINE and RESPONSIBILITY among consumers that is the real problem here.