Not only is the concept of credit a corporate scam inflicted on the working class to create a debt-ridden society, but the institution of interest on borrowed money is a biblical transgression. If America was truly a Christian nation, charging interest would be a crime and debt would be forgiven after so many years. But this is not the case in America.
Credit is a business model of capitalism and central to keeping the wheels of residual income rolling for the scammers. If the country was based on basic cash transactions, like it once was not more than 70 years ago, the corporations would have less power over workers and consumers. But since the creation of credit and the scores that come with it, the transfer of wealth has moved toward a small few and away from the general public.
Just recently reported in CNBC economic section; “Americans increasingly turned to their credit cards to make ends meet heading into the summer, sending aggregate balances over $1 trillion for the first time ever, the New York Federal Reserve reported…”
And this is just credit card debt.
More companies joined in the debt peonage scam through education with high interest student loans, vehicle loans, health insurance bills, and the housing market. “Newly originated mortgages rose to $393 billion though total mortgage debt nudged lower to just over $12 trillion. Auto loans increased by $20 billion to $1.58 trillion and student loans decreased to $1.57 trillion ahead of the lifting of the moratorium on payments.”
The cost of living has gotten extremely burdensome with the introduction of credit and debt into society. Debt has created a separate class of people apart from the once upper, middle, and lower class of workers. It has created a debtor’s class made up of all of the above classes; and credit has created the ultra-wealthy class of a few billionaires.
They call it the America dream. To make six figures, own a home, get a university education and be in good health. But the America dream has only become a nightmare to the working people of this nation. Though it seems normal, this lifestyle is highly irregular and drains the natural ambitions of any normal human being.
DISCLAIMER: The content of Pro Liberation is firmly opinionated and is not meant to be interpreted as official news. We glean facts and quotes from mainstream news websites and abridge its meaning for readers to relate. We do not indulge in misinformation, conspiracy theories, or false doctrine but choose to express our right to free speech as citizens of this country and free born under God the Creator. We represent Nu Life Alliance Inc. a non-profit organization in the battle for social and economic justice. Donate to our cause at the following link. DONATE
