This article was originally published by Michael Snyder at the Economic Collapse blog.
Editor’s Note: Last night’s clearly-orchestrated Ferguson circus is a reminder that highly publicized riots, civil unrest and injustices are often provoked that way, while the real institutionalized evils rarely make headlines. The real causes are obscured by the symptoms, and the worst cases of abuse are typically swept under the carpet, while a few token cases are “vented” publicly to let out the rage. Debt slavery and the systematic abuses of the Federal Reserve system rank at or near the top of these injustices, as few individual families, impoverished communities or members of the shrinking working/middle class have linked their conditions to the effects of the banker’s illusory game of monetary power. The few headlines the Federal Reserve generate fail to resound widespread outrage among the populace, while those behind the curtain use it as a tool to concentrate wealth and power at the expense of everyone else.
The Federal Reserve Is At The Heart Of The Debt Enslavement System That Dominates Our Lives
From the dawn of history, elites have always attempted to enslave humanity. Yes, there have certainly been times when those in power have slaughtered vast numbers of people, but normally those in power find it much more beneficial to profit from the labor of those that they are able to subjugate. If you are forced to build a pyramid, or pay a third of your crops in tribute, or hand over nearly half of your paycheck in taxes, that enriches those in power at your expense. You become a “human resource” that is being exploited to serve the interests of others. Today, some forms of slavery have been outlawed, but one of the most insidious forms is more pervasive than ever. It is called debt, and virtually every major decision of our lives involves more of it. For example, at the very beginning of our adult lives we are pushed to go to college, and Americans have piled up more than 1.2 trillion dollars of student loan debt at this point. When we buy homes, most Americans get mortgages that they can barely afford, and when we buy vehicles most Americans now stretch their loans out over five or six years. When we get married, that often means even more debt. And of course no society on Earth has ever piled up more credit card debt than we have. Almost all of us are in bondage to debt at this point, and as we slowly pay off that debt over the years we will greatly enrich the elitists that tricked us into going into so much debt in the first place. At the apex of this debt enslavement system is the Federal Reserve. As you will see below, it is an institution that is designed to produce as much debt as possible.
There are many people out there that believe that the Federal Reserve is an “agency” of the federal government. But that is not true at all. The Federal Reserve is an unelected, unaccountable central banking cartel, and it has argued in federal court that it is “not an agency” of the federal government and therefore not subject to the Freedom of Information Act. The 12 regional Federal Reserve banks are organized “much like private corporations“, and they actually issue shares of stock to the “member banks” that own them. 100 percent of the shareholders of the Federal Reserve are private banks. The U.S. government owns zero shares.
Many people also assume that the federal government “issues money”, but that is not true at all either. Under our current system, what the federal government actually does is borrow money that the Federal Reserve creates out of thin air. The big banks, the ultra-wealthy and other countries purchase the debt that is created, and we end up as debt servants to them. For a detailed explanation of how this works, please see my previous article entitled “Where Does Money Come From? The Giant Federal Reserve Scam That Most Americans Do Not Understand“. When it is all said and done, the elite end up holding the debt instruments and we end up being collectively responsible for the endlessly growing mountain of debt. Our politicians always promise to get the debt under control, but there is never enough money to both fund the government and pay the interest on the constantly expanding debt. So it always becomes necessary to borrow even more money. When it was created back in 1913, the Federal Reserve system was designed to create a perpetual government debt spiral from which it would never be possible to escape, and that is precisely what has happened.
Just look at the chart that I have posted below. Forty years ago, the U.S. national debt was less than half a trillion dollars. Today, it has exploded up to nearly 18 trillion dollars…
But the national debt is only part of the story. The big banks which control the Federal Reserve also seek to individually dominate our lives with debt. We have become a “buy now, pay later” society and the results have been absolutely catastrophic. 40 years ago, the total amount of debt in our system was just a shade over 2 trillion dollars. Today it is over 57 trillion dollars…
The big banks do not loan you money because they want to help you achieve “the American Dream”. The elitists loan you money because it will make them wealthier. For example, if you only make the minimum payment on a credit card each month, you will end up paying back several times as much money as you originally borrowed. It is a very insidious form of debt enslavement that most Americans simply do not understand.
Meanwhile, the Federal Reserve is also systematically destroying the wealth that you already have. If you try to buck the system and actually save money, the purchasing power of that money is continually being eroded by the Federal Reserve’s inflationary policies. The following chart comes directly from the Federal Reserve and it shows how the value of the U.S. dollar has plummeted over the past 40 years…
Overall, the U.S. dollar has lost approximately 98 percent of its value since the Fed was first established in 1913.
Most people seem to assume that if we could just send the “right politicians” to Washington D.C. that we could get our economy back on the right track.
What those people do not understand is that our system is fundamentally broken. We are trapped in a perpetual debt spiral that is destined to end in a horrifying collapse. Just “tweaking” a few things here or there and adjusting tax rates a bit is not going to fix anything. The vast majority of the “economic solutions” that our politicians talk about are basically equivalent to rearranging the deck chairs on the Titanic.
And of course the elite don’t want the rest of us to truly understand what is going on. Just think about it. Even though the Federal Reserve is one of the most important institutions in our society, and even though it is at the very heart of our economic system, our kids are taught next to nothing about the Fed in school. The vast majority of them have absolutely no idea where money comes from.
Isn’t that pathetic?
But the elite know that if we did understand what they were doing to us that most of us would start to get very upset. Henry Ford, the founder of Ford Motor Company, once said the following…
“It is well enough that people of the nation do not understand our banking and money system, for if they did, I believe there would be a revolution before tomorrow morning.”
Please share this article with as many people as you can. The truth sets people free, so let us do what we can to wake our fellow Americans up to this insidious debt enslavement system which dominates our society.
Michael T. Snyder is a graduate of the University of Florida law school and he worked as an attorney in the heart of Washington D.C. for a number of years.
Today, Michael is best known for his work as the publisher of The Economic Collapse Blog and The American Dream.
If you want to know what things in America are going to look like in a few years read his new book The Beginning of the End.
It is a blessing to be debt free…
Being debt free is a goal all of us should strive for. I am not there yet, but I work on it daily. And God willing, I will see that happen.
its a shame most people know nothing about money and being responsible with it and that fault lays on parents mostly as the govt, employers and businesses usually want to part you from it; dam the consequences.
achieving an easy retirment is really easy, you gotta live like a pauper until you can pile up 25K into a mutual fund and then manage it for 40 years and throw in extra money here and there and you retire with a 1/2 mil. easy, i think driving an old clunker for 3 additional years is worth not having to take what you are given at 65.
Nice change of scenery. Now we can talk about the actual real enemies instead of little blips on the radar.
Yea… like the Federal Reserve!
Ferguson, Ebola, and Amnesty are scripted distractions for Boobus.
And the sad fact… the psyop works… It works!!
USA… USA… USA!
BTW: Don’t forget to vote in your up-coming local election for Dog Catcher.
Every vote counts!
USA… USA… USA!
On the surface I agree with your post about saving for retirement. However, I see no chance of the economy not tanking and then there goes your money. And in 40 years 1/2 mil won’t be worth shit. IMO
Eppe says: “It is a blessing to be debt free…”
I still owe the Federal Reserve a kick in the azz.
P.S. I read somewhere that Chuck Hagel warned Obola about the “New World Order.” At face value that means that Obola is not part of the NWO. Or at least he wasn’t at the time that Hagel warned him. Or that he didn’t tell Hagel that he actually was part of the NWO.
Anyways, some folks have been arguing that Obola is part of the NWO. This argument may not be the case after all. Thoughts?
You don’t want the truth. There is NOT a candidate appointed to run for president of the US without knowing who owns them lock, stock and barrel.
Like I said if the story of Hagel warning Obama of the perils of the NWO is true, Obama and V.Jarrett must have fell to the floor laughing hysterically when Hagel left the meeting.
No way does Hagel not know what the game is in DC with their AIPAC owners.
You must live under a rock, FreeSlave. It is all there waiting for your ‘doubting thomas’ fingers to ferret out the truth. Truth is you do not want to know.
Debt free and brain cell free. Welcome to GA.
Is that why you post up to 25+ posts per article?
What kind of jerk needs to do so?
No offence to the Floridians here, but what is WWTI problem?
Can ANYONE answer that question???
Gee eppe you frightened of real info or substance in your life. You are just a joke. 2 words for you punk. F-off!
Don’t you have a joke to plagiarize from somewhere?
Nobama, eppe although probably a nice guy in real life sharing a beer, is really just a cyber squatter troll that rarely adds any relative info the posted subject matter. I called him out on that, “cut and paste Jokes” which he never posted a link, as acting if he is some how the author or funny himself. Then he got his green thumbs taken away, and runs away for a couple of weeks, and now is is pretty much down to eppe snail status. He is in his last throws, lashing out at me, for his own ineptness of any relative substance. It is what it is.
eppe – great feeling isn’t it?
The world is built on debt and it cant last. What will start as a minor tremor will become an earthquake the size and severity of which the world has never known. When it reaches critical mass, meltdown, TSHTF – call it what you will – what you (and we on TV) are seeing happening in Ferguson will be the norm and it wont stop for quite some time.
If the meltdown starts in the US as I kinda think it will we will not be immune here – we are just as in debt up to our ears as anyone else in the world. When you crash, we crash.
I just about have all my ducks in a row, all the basics taken care of. Slow slide and some semblance of order can and will be maintained – but when it reaches tipping point you don’t want to be in an inner city apartment 6 floors up. You might think you are safely hunkered down behind kick proof doors but a fire at ground level and you are toast – literally – and there have been lots of fires in Ferguson.
Look at Ferguson (an internet search says only 21,000 people, is that right?) and if that can happen in what is not a big town and should have a country mentality and outlook what will it be like in NYC, LA, Chicago etc.
What happened in Ferguson is a result of people not being prepared to abide by the legal system – they want to rewrite the rules to suit themselves and given the chance that’s exactly what they will try and do.
All the best guys.
Amen Aussie, it is a great feeling, saving up to 32k tax free yearly.
And with all the crap going on here, makes one wonder where to go?
As Be Informed once said, there is nowhere that is safe, except for outer space….
Eppe, I’ve been debt-free for my entire life because I’ve never been AUTHORIZED BY ANYONE to go into debt on anything. I’ve always bought my vehicles WITH CASH FROM A PRIVATE OWNER, but they’ve always been something that was 20 to 30 years old. The only reason I’m in a company vehicle is my employer back in 2001 wanted me to get away from “vehicles on life support”, as he called them. Well, I didn’t want to pay or even have the money to give up for any new vehicle or even something close to it. Paying tens of thousands of dollars for a vehicle is not my cup of tea. There is a way to make do with an older vehicle. Don’t tell me it can’t be done because I’ve done it for my whole adult life. From a financial standpoint, I’ve had no other choice. I’ve lost count of how many people over the years have laughed at me driving around in yesterday’s technology and have even called me stupid for doing so. So I shoot back with, “I’m not drowning in debt or sacrificing anything else I do to pay for a high-dollar vehicle. I’m not rich.” People don’t stop and think that there are certain criteria in the credit policies that have to be met in order to get any kind of loan, credit card, etc. And even if you meet all of the criteria, you will still have trouble trying to get what you’re after. I refuse to use credit for anything. I refuse to sacrifice anything I do, especially prepping, to pay off on any kind of loan, credit card, etc. As long as I can use cash to get something, I’m just fine. Braveheart won’t go into debt with anyone on anything, period! Being debt-free is awesome and for those who are working toward that goal, keep at it and don’t give up. Once you reach that goal, you won’t know how to act!
Debt is not slavery, it is voluntary servitude. No one holds a gun to your head while you count the money you borrow.
Eppe; Do you have a dollar in your wallet? If you do, then you owe the Bank of Rothschild, aka, The Federal Reserve,one dollar! How can you pay this debt? You can’t, you can only discharge your obligation to pay. The debt itself, cannot be paid for there is no money. The Bank of Rothschild, aka the “Federal Reserve”, stole the gold of America in 1933 and the silver of America in 1965 and you and I and all Americans are left with nothing other than DEBT that these wonderful Globalist Bastards have left us with! You think that you are out of debt? You owe for everything you have because you can’t pay for anything!!! You discharge your obligation to pay so they don’t take your property as long as you pay your rent, aka “property tax”! The shirt on your back, you have discharged your obligation to pay for so will the Rothschild Bank aka, the Federal Reserve, seek to take it from you? No, they don’t want your shirt because you have discharged your obligation to pay for it. Do you own it? that is the question! The answer is that you do not own the shirt or anything else. NOTHING, my friend do you own! They own everything, you, I and everyone else because we trusted the scum of government when they told us that it was necessary to take our gold and silver! Debt free eppe? I’m sorry my friend, but you are in the same boat as we all are!
Eppe only understands childish jokes. Economics is beyond his 65 GA IQ. Ask him how that fishing invention is coming along. And his daughters inviting nigs over to his house. Next they will be dating them. LOL. So much for OPSEC or parenting.
Oops, that was meant for Nobama above, not you Aurelius…
The REAL Looting Is Happening On Wall Street … Not In Ferguson, Missouri
“Corruption and lawlessness by our “leaders” encourages lawlessness by everyone else.”
this says it all
you can control people with chains and whips
and debt is a whole lot easier
You have to give the bankers credit for setting up this system and making it stick all these years. They have used their influence to shape the political climate that makes it legal for them to break the law.
That is the truth, and it is amazing than probably over 90% of the people in this country even have a glimmer of a clue to what is going on….
This something I’m working very hard on. The problem I have is I would be debt free only if I wasn’t spending so much on preps.
“Better to have it and not need it than not have it and need it”!!!
It is a balancing act Sgt. Dale. I am at the point where I am fairly well supplied, so now I round out my preps when I can pay for them in full.
I’ve been doing this for almost 30 years now. Replacing the old stuff with new now. Thank God I had over 90% of my preps ready before I retired from the Force. I’m still adding new thing and better things every month.
Yep, those tractors don’t buy themselves! But zero interest Is ok by me and a tractor is a very necessary tool. I can complete the work needed that much faster which makes me feel that much better.
Im debt free. We have avoided debt like the plague all our lives. why buy a tractor on credit even if there is no interest? My tractors where all bought at farm auctions for cash. Today I used my 1944 M farmall that cost $325 and cut and hauled two loads of firewood. Mt huskavarna chain saw I bought new paid $200 cash for it 15 years ago.
You got a helluva a deal on your saw. I paid $498 with an extra bar, chain, gallon of bar oil, 2 files and a sixpack of oil for my 254XP 23 years ago. I still have the receipt in the pack of manuals I got with it. That Husqvarna has cut hundreds of cords of wood since then with nary a hiccup.
Best saw I ever owned.
Sarge, keep at it and you will eventually reach that goal. I use cash to get all of my preps so I don’t owe anyone a damn dollar.
The jaw-dropping inequality of wealth in the U.S., in charts
“the share of overall wealth held by the top 0.1% of those in the U.S. had grown to nearly equal the bottom 90%.”
you read that right
anyone who thinks there isn’t class warfare going on
is a freaking brain dead idiot
and our class is losing as Warren Buffet has so famously said
I was debt free in 70’s when I only used cash. Got a credit card in 1980 and have only been debt free once since then. I got an insurance settlement and payed off all debts, then my son got very ill and after that he went college, Oh NO. Slavery.
Slavery it may be, but nobody is FORCED to accumulate debt.
To become a debt slave is high-order idiocy.
Old Coach, oh so true. People do have the option to NOT SIGN ON THE DOTTED LINE OF ANY TYPE OF CREDIT APPLICATION. IF YOU PUT YOUR JOHN HANCOCK ON THAT DOTTED LINE, THAT’S WHEN YOU BECOME A DEBT SLAVE. NOBODY HAS TO USE CREDIT IF THEY DON’T WANT TO.
If you don’t own your home and pay rent, is’nt that debt too? They raise the rent every year where I live, taking all the cost of living adjustment on VA disability just on rent increases alone. Everything is overpriced and continues costing more each successive year. Now the government will attempt to implement the chained consumer price index to lower the Cola further, driving poor and disabled seniors deeper into the poorhouse. Young people have it even worse, no jobs, no affordable housing, no positive hope for economic security and virtually no chance to get ahead. If you can’t earn enough even to support a basic cost of living existence, what hope is there for your future? It’s such an evil world and system that most do not care about those who are unable to afford life’s basic necessities. Don’t blame people who are too lazy or on food stamps for the problem. The problem comes from the greedy psychopaths at the top. Something must change. Eliminating the Fed will be the start. But, do you really see that happening? I don’t.
When you buy on credit the item isn’t really yours. Until the very last payment is made you are nothing more than a glorified renter.
When you can buy a house today at only 4% interest it is almost free. As long as it appreciates. Then add property taxes insurance and maintence costs in and you wonder if it is still worth it? My house pmt is still cheaper than any rent for the same house. Pluse couple hundred thousand in equity built up. Still it is tangible property opposed to worthless cash in the bank.
Hey Federal Government. I want to loan you money. I can print money out of thin air too! And I ‘ll offer a better interest rate than the old Federal Reserve!!!!
You said you’re against monopolies. Isn’t that what the federal reserve is?
I want a piece of the action!!!!
HINDSIGHT and off topic. But seems the Ferguson thing was way over played by the Media, and WE the people on SHTF. And we must remember that Tens of Millions of Black people didn’t participate in any rioting or looting. Trekker Out.
Yupper, nice comment. I think a few of us said this was being over played……and …..for a reason.
It hasnt been 24 hours yet,
The roaches dont like the light
They don’t like COLD either. It’s close to freezing in STL. May even snow tomorrow.
Just saw a map of all the cities that will have protests tonight. Being smug that this thing is contained could be foolhardy.
MT and BJ, good points, but we have yet to see how this is really playing out. I sincerely hope you’re right about it being overplayed, but I’m not holding my breath on that.
That’s because those tens of millions of black people that did not participate are already in prison.
little speech about taking over a population using debt.
Most people don’t understand that EVERY FRN printed or digitalized into existence is a debt note with usury attached.
This usury is the most insidious thing about the monetary system. It requires that the debt grow by around 3% annually to pay the interest, employ the new young workers, pay the .gov debt and retire the old folks. It may actually be more than that.
3% growth means a doubling of everything in about 20 years. Picture this…every car, every power plant, grocery store, house, etc. etc. you see and add one more.
Subtract one of each to see how it was 20 years ago.
It’s called exponential growth and it’s what the anglo-zionist empire is built upon. If growth slows or stops like it did in 2008, the system fails. The empire is in decline and things will get no better…only worse.
Better learn to provide for yourself while you still can. See that guy on the corner with the sign that says “The end is near”? He’s right.
Off your ass
And on your feet.
Out of the shade
And into the heat.
Yes, that stash of 10 dollar bills you have buried in #10 cans represents someone else’s debt.
If all the debts in the system were paid off, there would be absolutely no FRNs in existence.
If you’re using credit cards pay it off monthly. The credit card companies want you in debt,that’s where they make their money. If everybody did that there would be no credit cards(no profit). Don’t retire with any debt or you’ll be working til you die.
Back up here. You are better off with $10,000 in preps and food than No debt and No preps. When the Grid crashes most all that unsecured debt will be wiped away. Pay off your secured debt first like Autos and Homes and Property. If you miss a payment they take your entire car away. Sell your car to their car lot buddies and a cheapy auction for pennies on the dollar and you get nothing. You miss a credit card payment it take years or never for them to get that money back from you if you dispute it, or you let it fall off your credit score after 7 years.
If you consider inflation like Food at 15% to 20% a year lately, it is cheaper to buy thousands of dollars on a credit card at say 8%. Or you go buy Guns or Ammo as much as your credit card can handle and wait till next year and sell it for 2 to 3 times as much than any 8% credit card. There are advantaged to leveraging debt and using your credit to your advantage, but you need to be smart about it and do the math.
Just being debt free with zero credit is a Killer in today’s world. Smart people know how to use credit to their advantage. Debt is only bad if you can’t pay it off. And don’t take on more debt that you can handle. Having no debt or credit for years, and a credit score of only 300 is just like being Bankrupt, ain’t going to get you jack shit in today’s world. And you will just keep on driving that 1970’s rusty ol’ Chevy truck.
I don’t often agree with you, so when you write something that I do agree with, I want to let you know.
Good advice on this one!
There is no such thing a unsecured debt. Your debts will still be owed. The laws allow for a deficiency judgment to be placed on your person. Trying to figure wasy to not pay your debts is dishonest. You wont get away with it. Karma will make you pay double.
Thanks Free Slave. Old Guy. When you owe more than any amount of assets. The State lets you file bankruptcy. You win fair and square. I will also say after the court issues you a discharge for a bankruptcy. Lenders will be all over you again to lend you money, because they know you cannot file bankruptcy again for another 7 yrs. States and Feds have been tightening up the rules on discharging debts. I never filed any bankruptcy but worked with clients who did and that’s the way our credit system works.
WWTI, I’ll take that 1970s ol’ rusty Chevy truck over any mickey mouse vehicle built today. Plus I can pay cash for that same truck and be done with it. I have a fortune in preps and they’re all already paid for with cash every step of the way. No credit cards for me ever! I laugh whenever someone says “but you can’t live without a credit card.” OH, REALLY? I’ve already been on this earth for 57 years without a credit card and I’m still alive and kicking. It is possible to live your whole life without going into debt on a damned thing. I am living proof of that. anyone who says otherwise is feeding you BS.
I hear ya RG. Whatever works for you is a good thing. I bought a Brand New $28K Vehicle, recently paid it off and still only have 20K miles on it. I will drive it now until the wheels fall off, another 10 years maybe. Most any quality vehicle will last for ever if you keep up on the maintenance. Since I bought this vehicle New, I am fully aware of all the upkeep and maintenance from mile#3 forward, and not some used mystery car that was beat up every day by a kid. I had a BMW prior to this new vehicle, and feared keeping that with a lot of miles out of warrantee, the maintenance and parts would be a killer and sold it. Your older vehicle parts can be found in many junk yards. I have worked that program before.Nothing wrong with it. Especially common 350 Chevy engines and trannys.
Sitting with a 2002 Ranger bought new I have to agree. Reasonable maintenance and the truck is in excellent condition for 12 years old. I plan on being buried in it. 🙂
Debt is an instrument of evil used to destroy and control all. End the Federal Reserve and institute sound currency. This country would be far better off.
I find legal ways not to pay much in taxes and not be a slave to credit card banks and government. I did not make this national debt, nor am I a part of entitlement programs even though I qualify. I have no CC debt and will pay off mortgage in 3 more years. When the economy crashed from bad banks deals, I never stopped paying my bills and mortgage. I stayed within my means and balanced my budget even if I had to go without some needs. I am not responsible for an outrageous national debt that an irresponsible congress and president made. It goes against all that I believe in, so I must be the enemy.
Adolf preached against interest slavery which made the powers that be unhappy with him. Inflation and rising prices on Real Estate make it less likely people will ever own their homes and people will have to pay higher property taxes which benefits some govt agencies who thus have a vest interest in keep values high. Once you have equity in Real Estate medical costs come along and wipe that out in one slash. so in the end you end up in a nursing home that attaches your real estate equity that remains. What really is the point in paying off the Bar Soap Ranch when in the end id is Doctors and Hospitals that will benefit from it not your kids Once land was free but now it is a fake dream to milk your money and in the end enrich everyone else but you
I have always wondered if some poor Japanese sitting in the ruins of Hiroshima got a monthly mortgage bill in the mail,