Debt is Sinking America|The Debt Extremity in the US|Why You Are in Debt|The Problem is Credit|

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When you run short of funds what do you undertake? The idea we have been educated since childbirth is that if we want hard cash, we need to have a job. So we get a job, usually a gloomy job we don’t even admire but stick with because it pays the bills. The wealth you take in from this job doesn’t give you sufficiently to buy something you’re actually going to like, so what do you do? You get a loan. That loan is given to you with an APR (annual percentage rate), which means you will pay them back what you owe them plus more. You are now in debt. If only getting hold of bucks was as simple as saying, “give me money”.

Everyone seems to be in debt these days. We got car loans, third mortgage loans, institute loans, secret loans and credit card loans to pay all of these off! If you are not in debt, I salute you. You are one of the lucky ones. Keep doing what you’re doing and keep yourself from being a debt slave. Ever question how debt was originated? I think it’s an intriguing story.

How did the debt start?

Well the banks need the money to give you the loan, so where do they gain it from? Ever heard of the Federal Reserve? The Federal Reserve, created in December 23, 1913, is the ‘central banking system of the United States’, as reported in Wikipedia. They basically came up with the approach of paper money and begun making it the default manner of trade. The Federal Reserve borrows the money to the bank also with interest.

The Federal Reserve is making the money, right? They loan the money to the banks with interest. Well if the FR had to print the money to let us borrow it, where are we supposed to get the money to pay the interest? We have no other choice but to get additional loans. Does this make sense? I hope it does.

They are loaning dough with interest rates that don’t even exist; for that reason, impossible to pay back. The United States is in debt induced by this system. You think it was an accident? I don’t think the past presidents are that brainless. This is how the complete system works to keep us all in debt, in case you haven’t noticed.

The way things are going, I seriously would not be surprised if we hit another great depression. Unemployment rates are the highest they’ve ever been in 30 years. The power of the dollar is decreasing everyday it seems like. Food and gas prices are climbing. We have got to adjust. Not just for the debt crisis, but for our time to come. Just knowing this obstacle exists is going to help you do whatever you need to do in order to progress in this life.

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