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Subject: personal story of hardship in the U, S, of A.
From: AnonyMint
To: "Armstrong Economics" <
armstrongeconomics@gmail.com>
Bcc: Anonymous
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Ebola pandemic is quite likely:
http://armstrongeconomics.com/2014/07/31/ebola-virus-the-next-plague-due-2019/Armstrong's A.I. computer model was calling for a pandemic after 2016 since well before this Ebola outbreak started.
The 'grinding halt' comment was mine.
You've failed to remember the key fact about the marginal-utility-of-debt, which is that eventually it goes negative and no one is in control, not even the globalists, because productivity has been suffocated in layers of spaghetti obligations and misallocated life directions. The negative educational inertia debt, etc.. can't be unwound without collapse into a gridlock low.
You assign power to the globalists which they could not mathematically possess. Nature is in control now, they are bystanders.
What the elite hope to do is manage the "creative destruction" towards their aims of globalist hegemony. They do understand the west is lost, so they need to create war in the west to have something to blame the gridlock on other than debt. This way at the end of WW3, they can call for globalist solutions to end the possibility of nation-state discord which they will say in their propaganda was the cause of the crisis (causing the sheepeople to forget that the declining marginal-utility-of-debt sustained past the point of no return by socialism was the real cause).
The globalists understand that all real productivity is coming from the developing world, they are trying to use the levers they do control in order to be sure they gain the most leverage into this rebalancing process. They have shifted the oil revenue from Russia and the Middle East to the USA, so they can leverage the developing world to sustain the west, with them in control of the spigot through a much more Technocratic controlled socialism.
This is why they need the NSA hunting everything down, and the FACHA, so as to prevent any capitalists in the west from competing with them for opportunities in this rebalancing process.
Anonymous wrote:
> BTW, don't you think perhaps the steady debasement of the dollar with year
> over year inflation in many sectors is a de facto or indolent version of
> "hyperinflation" such that debt will have much less consequence? This
> would be a primary reason TPTB in the US have been running up the national
> deficit, they know it won't particularly matter much at some point and it
> can also be leveraged initially for austerity and more taxes. And you
> know LaGarde has already used the term "global currency reset".
> I can't tell if you made the "grinding halt" comment, but given the level
> of centralized control and the plan to incrementally install a global
> technocracy, there doesn't need to be a halt. A sharp sudden painful
> contraction will only take place if it is so desired for "shock and awe"
> purposes to temporarily paralyze the masses as new radical policies are
> implemented. I've heard Catherine Austin Fitts express the same view.
> More concerning than debt is the increase in environmental chaos
> (Fukushima, Gulf Oil, geoengineering, fracking, etc.), showing the elites'
> position of moving ahead with soft kill and contriving another excuse for
> world government.
In case I wasn't clear before, because I was sleepy. Let me expound a bit.
Defaulting on a student loan (or any loan) should have no power to put a
lien on your bank account nor any asset which you did not specifically
assign as collateral to the loan when you signed the loan contract.
The concept of assigning all your future unknown earnings and assets as
collateral to a loan is an egregious abomination that only the most evil
society could possibly be fooled into thinking is rational.
If the lender has no risk and all the risk is transferred to society, i.e.
destroy the productivity of everyone in gridlock liens on everything when
the debt bubble contracts, because excessive loans were made because the
lender assumed no risk, then the mathematically sure outcome is a Dark
Age.
I hope the high IQ people amongst us can interpret what I've just written
and explain it layman's terms. I don't have time to break it down more at
the moment.
In short, you should have been able to default on the student loan, had
your credit rating wiped out, but not lost your business nor had your bank
account sequestered.
But Western Civilization is in an irrational, evil apex at the moment and
destined to crash and burn.
That is why we in the crypto-currency arena are developing technological
solutions to put a stop to this mess.
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Let me clarify.
I mean that it is an abomination for default on a student loan to make all
your assets and incomes encumbered collateral by default.
A personal loan should always be defaulted with the only recourse of the
lender being lowering your credit rating. It should have no claims on your
assets and income, except for assets you put up specifically as
collateral.
This system the bankers have devised in the western countries, is going to
bring the western civilization to a grinding halt.
P.S. You see adding more debt was not the solution, rather the solution
was default but they won't let you default. They want to hold you in
perpetual debt servitude instead. We've regressed to the feudal system
again.
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bcc: all
So the loan was just to be able to pay off the student loan so you
wouldn't go into default. Not for expansion.
But the real culprit here is not the refusal to give you a loan (debt is
always bad, default is better), rather the stupidity of a bankruptcy
system that doesn't allow you to protect your business (or at least not
continue to garnish your bank account) in a default so you can continue to
be productive. Maybe you got bad legal advice?
But seems you are saying the bankruptcy system preferred you to be
unproductive (or you are saying it is not discharged yet, so maybe you
will get relief soon). And that is an abomination (to the Lord or even to
atheists).
If you are trying to argue for debt, I will have to disagree with you. You
overextended and the correct thing is default. But default means
everything is liquidated, then you can start over fresh, not continue to
hold your bank account hostage so you can't be productive again.
yeah (un)employees get laid off in defaults. But default is always better
than debt. Bible says borrower is slave to the lender.
So we try with crypto-currency innovation to take away the power of the
system to garnish payments and bank accounts. Society shouldn't have so
much power because society can't be entrusted not to abuse it.
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I don't mind if you share.
I place 100% of the blame on myself, it was my mistake in that I saw
opportunity in expansion disproportionately to the risk of overextension.
However, 5 people became unemployed because of my 580 credit score... The
fact that I had turned an initial 10,500 investment into a small-medium
sized business meant nothing... Nobody had anything to say to me except,
"we're sorry but you don't meet the minimum credit score requirement."
Nothing good can come from a system that operates this way...
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Do you want me to keep your story private or share it?
Might be motivational to all if you feel comfortable being so naked. Some
people like more privacy which is understood.
It is an abomination that the government passed a law a few years ago
making student loans ineligible for discharge in bankruptcy (with rare
exceptions).
Is the sales tax dischargeable in bankruptcy?
This is your mistake of course, but the system is too harsh. How can they
expect for you to pay them if they take away your ability to earn. This is
how the western civilization will destroy all productivity. The system
should at least allow you to continue and take a small amount from your
bank account each month larger than the market rate of interest on the
principle owed. But the western system is punitive now. I even see they
put a mother in jail for allowing her 6 year old son to walk down the
block unescorted to the park to play. When society reaches this stage, the
collapse is near.
Any way you will come out of this much stronger. But I do beg of you,
don't only blame it on the system. Use it as an opportunity for
self-inspection to be more diligent in the future to discharge your loans
and much better always avoid debt, and grow within your cash flow means
always with some savings.
One of the fundamental teachings in the Bible (in the second book) is
always prepare for 7 lean years after 7 good years. Savings is very, very
important. Always hold some in reserve.
Recently I paid down all my loans in cash with 50% settlement offers. I
had about $20,000 in credit card debt which is now paid down.
Unfortunately I will have to pay income taxes on the portion of the debt
forgiven!! What racket the system has!
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I'm not in a good financial situation at all. I just recently lost my auto
repair shop, throwing me into a bankruptcy which hasn't been discharged
yet. I'm forced to work only for cash by word-of-mouth since I have a
government lien on my bank account. I owe for the last 3 months of sales
taxes which are more than I could expect to make in 6 months working full
time for somebody else... I'm not wealthy at all, I had my moment of
wealth but now I'm down. I have about 1 ounce of 24k gold left to sell and
a few cars which I'm in the process of flipping for a profit. Everything
else I make is just to sustain my family. I currently have enough of a
customer base to work about 4 days a week, at least a few hours a day at
$60 per hour. I'm unable to advertise because of my circumstances.
I still have my knowledge, reputation (which is very strong), and my
desire to be free of this nightmare monopoly game. This system isn't fair,
nor just, and I'm not subscribing to it anymore... I had a great business
for 4 years, 4 employees below me, a great reputation in the community,
but my credit was too poor to get a loan from the start. I reinvested too
much of my cash flow into equipment without saving for a rainy day.
Everything I had to offer and nobody at any of the banks would even look
at my plan or business history. I had a 580 credit score because of a
collection on a phone contract, I wasn't a home owner, and late payments
on a student loan (my dad surprised me one day and told me that he had
taken over the student loans for me and my older sister, but apparently
there was a problem with the consolidation loan he took and neither of us
were aware of it until collections.)
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