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  1. #1
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    What's wrong with debt?

    Just wonder how many so against the debt are actuall free of personal debt.

  2. #2
    Answer this question with none of your mumbo jumbo thrown in.

    How is new capitol created ?
    FEN

  3. #3
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    Quote Originally Posted by acmanko View Post
    Just wonder how many so against the debt are actuall free of personal debt.
    Every one has debt, but I am not carrying excessive debt. I have comfortable payments that do not strap me. I am not borrowing money to pay for the money I borrowed previously. It all becomes a viscous cycle when that happens, try and dig your self out.

  4. #4
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    Quote Originally Posted by the mojo View Post
    Answer this question with none of your mumbo jumbo thrown in.

    How is new capitol created ?
    New capital is not created, it's either earned or lost. With debt, you take one person's money and lend it to someone else.

    I only owe on my home and will not take on debt unless I get 0% for a set amount of time and pay off the balance before interest kicks in. I will change if the rate is under 4%.

  5. #5
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    Quote Originally Posted by EugeneTheJeep View Post
    Every one has debt, but I am not carrying excessive debt. I have comfortable payments that do not strap me. I am not borrowing money to pay for the money I borrowed previously. It all becomes a viscous cycle when that happens, try and dig your self out.
    I paid off about 13,000 in credit card debt just by paying more than the minimum. I'd take the minimum payment, add in the interest for that month ,plus another 50.00 to 100.00 added on. It really makes the balance go down. If financing for a long term, I take the payment and round up to the nearest whole number in hundreds and make that payment regardlee of what they adjust the payment to, i.e. a 467.00 payment will round up to 500.00, this really knocks off balance due extremely fast.

  6. #6
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    Quote Originally Posted by the mojo View Post
    Answer this question with none of your mumbo jumbo thrown in.

    How is new capitol created ?
    I did'nt know I knew mumbo jumbo, how coy.

  7. #7
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    Quote Originally Posted by acmanko View Post
    I paid off about 13,000 in credit card debt just by paying more than the minimum. I'd take the minimum payment, add in the interest for that month ,plus another 50.00 to 100.00 added on. It really makes the balance go down. If financing for a long term, I take the payment and round up to the nearest whole number in hundreds and make that payment regardlee of what they adjust the payment to, i.e. a 467.00 payment will round up to 500.00, this really knocks off balance due extremely fast.
    I don't carry credit card balances. OTOH I have used credit cards like a personal loan on a large purchase with the 0% checks I get in the mail, the balance goes to the full rate in 6 months, then I just use a competitors balance transfer check for another 6 months of 0% until the debt is gone.

    Funny this thread went from political to persona debt in a few posts. Maybe you should tell Obama how you pay off your credit cards?

  8. #8
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    Quote Originally Posted by acmanko View Post
    Just wonder how many so against the debt are actuall free of personal debt.
    It all depends who you owe the debt to, and why we have debt in the first place.

    The real question is this, where did all that money go, and to whom or what.

    Until you understand what happend at Jekyl Island so many years ago, you will never understand anything thats happening today.

    Our money is being stolen by a bankers Mafia, and its being done worldwide.


    Give me control of a nation's money and I care not who makes the laws



    Roy
    "The perfect Totalitarian State is one where the political bosses, and their army of managers, control a population of slaves, who do not have to be coerced, because they love their servitude"

  9. #9
    Quote Originally Posted by acmanko View Post
    New capital is not created, it's either earned or lost. With debt, you take one person's money and lend it to someone else.

    I only owe on my home and will not take on debt unless I get 0% for a set amount of time and pay off the balance before interest kicks in. I will change if the rate is under 4%.
    http://www.webofdebt.com/

    So you say there is no new capitol created.
    FEN

  10. #10
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    Quote Originally Posted by the mojo View Post
    http://www.webofdebt.com/

    So you say there is no new capitol created.
    I said basically the same thing that link say's. Money is created by taking one person's money and lending it out with an interest rate.

    I'm not trying to make fun , but the correct word is capital. Capitol is like a State Capitol or Washington D.C. is the Capitol of our country. It was built solely from capital raised by import duties.

  11. #11
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    Quote Originally Posted by royc View Post
    It all depends who you owe the debt to, and why we have debt in the first place.

    The real question is this, where did all that money go, and to whom or what.

    Until you understand what happend at Jekyl Island so many years ago, you will never understand anything thats happening today.

    Our money is being stolen by a bankers Mafia, and its being done worldwide.


    Give me control of a nation's money and I care not who makes the laws



    Roy
    with time, all debt is forgotten, no one can remember who they borrowed so much from.

    I'll google Jekyl Island to see what you are refering to.


    This is what I found, it seems as if a Republican and a bunch of bankers devised the Fed

    Jekyll Island was the location of a meeting in November 1910 in which draft legislation was written to create the U.S. Federal Reserve. Following the Panic of 1907, banking reform became a major issue in the United States. Senator Nelson Aldrich (R-RI), chairman of the National Monetary Commission, went to Europe for almost two years to study that continent's banking systems. Upon his return, he brought together many of the country's leading financiers to Jekyll Island to discuss monetary policy and the banking system, an event which was the impetus for the creation of the Federal Reserve.

    On the evening of November 22, 1910, Sen. Aldrich and A.P. Andrews (Assistant Secretary of the Treasury Department), Paul Warburg (a naturalized German representing Kuhn, Loeb & Co.), Frank A. Vanderlip (president of the National City Bank of New York), Henry P. Davison (senior partner of J. P. Morgan Company), Charles D. Norton (president of the Morgan-dominated First National Bank of New York), and Benjamin Strong (representing J. P. Morgan), together representing about one fourth the world's wealth at the time, left Hoboken, New Jersey on a train in complete secrecy, dropping their last names in favor of first names, or code names, so no one would discover who they all were. The excuse for such powerful representatives and wealth was to go on duck hunting trip on Jekyll Island.

  12. #12
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    Here is the Reasoning behind the FED

    http://en.wikipedia.org/wiki/Panic_of_1907

    The fed might not be perfect, but do we really want what preceded it again.

  13. #13
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    Government debt and personal debt is not the same thing. The government does things like borrow money from the social security fund which is paid for by tax-payers.
    When you borrow from the bank to pay for a car, you don't then have the bank make the payments for you.

    Our politicians have screwed us royally.

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