Banks have been leading unsuspecting Americans down the path toward massive debt for decades.
They really don't care about our well-being at all - bottom line profit is the ONLY consideration.
Some folks just call that "capitalism".
I think we need to eliminate credit debt.
In my view, capitalism needs checks and balances to ensure reasonable profit for services rendered.
Reasonable profit, I said.
A fellow called Lord Acton said, many years ago, "Power tends to corrupt, but absolute power corrupts absolutely.
" And that is what we have today.
We HAVE to eliminate credit debt because the banking system has an ignorant populace by the throat and they are shaking us up big time.
Did you know the Federal Reserve System that seemingly is concerned for America, is actually a private organization that wags its finger at the government? Did you think the government controls the Fed? Think again.
The money controls us.
Who is it that prints money? Surprise, surprise..
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A bank is valued, in simple terms, by how much money it has out there that folks have borrowed.
The more that is owed, the bigger the bank - so to speak.
Let's not forget they charge a rate of interest that is just a teeny little higher than inflation.
I almost forgot - they do pay you massive interest on your deposits, checking account, CDs, etc.
don't they? They don't! Really! Do you get the drift? Reasonable profit? Back to the point - and that is that when a company issues a credit card, they are in effect printing money.
The whole process is just an accounting maneuver.
Making it simple for us to understand - they set up the books so only they understand what they are really doing.
Very simplistic explanation - but true.
Do you suppose that, the desire to grow bigger, then being more highly valued and printing money have any remote connection? Consolidation of the banks has lead to a small number of massive banks that have swallowed up all the little guys.
I call it the Wal-Mart effect.
Surely, you know what that is.
Now with credit cards - wow - they hit the jackpot! Look up Ponzi scheme on the web, and think about that.
Enough bad news.
The good news is that there is hope.
It is possible to fight back and eliminate credit card debt ...
using 100% legal, ethical means.
Using the laws that bind us, to break the same chains, so to speak.
Why all this? Because millions of Americans have been lured into debt by brilliant marketing, mail boxes full to the brim with exciting FREE offers at zero interest, bla, bla and thousands of words in little print that nobody (except the elect) written in tiny print - why is the print so tiny? Let's think some more..
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Think, think..
..
think.
Because they can write the contract, confound you with legaleze, (that's a foreign language that only lawyers speak), make it so hard to understand that you need 2 masters and a Ph.
D in whatever - then they can re-write clauses, and re-write clauses at will.
You have no control over their actions - like moving due dates, raising rates, calling in the full balance, etc.
They have ALL the power and you have zero checks and balances.
Lord Acton..
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in action? And there is where we can turn the tables.
Contract Law is powerful.
But it has two edges and we can choose to cut the cake with our side of the blade.
HOW? We're almost there.
Here is the tip of the Iceberg: Iceberg Tip - Important Fact - every valid, legal, and enforceable contract must contain five major clauses or elements - and they are absolutely obligatory.
Look long and hard to see which one is missing in our credit card deal.
Don't go read the contract; you'll never come back here! This is a test now.
If you were reading carefully until this point ..
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"Competent parties "Subject matter "Legal consideration "Mutual agreement "Mutual obligations You got it? Right - I was confident you would.
So let's slice the cake our way.
If any of these five elements is missing - any - the contract is invalid, it's not legal, and it cannot be enforced.
It's always easier to avoid pain than cure it.
Eliminate Credit Debt is the way to go - it would have been better never to get into debt - but we know why it happened.
Go check out this site below, where you can find help.
Don't consult your neighbor - they're in worse shape than you! But, BBB - Better Business Bureau is always a good idea.
Make sure you're in good hands.
If you found this article useful, pass it onto your friends.
Easier to avoid than cure ...
*All information contained herein is for informational purposes only and is not to be construed as legal, financial or tax advice.
Consult your trusted professional.