Wiping everyone's debt

[Skarekrow]

Yeah that was more how i thought it would be

In the UK there was a cut off year and before that year anyone who earned less than £15,000 a year didn't need to pay it off and once they reached the age of 50 (i think it was 50) the debt was written off

That law does not stand anymore

I worked my butt off one year living like a monk and managed to pay off my student loan but they did not make it easy for me. Each time i went to them with the money they would find some new reason to prevent me from paying off the final amount...they were deliberately awkward.....they clearly wanted to keep me in debt

I'd had enough by that point though. I was getting mucked around by the banks, the phone company, the council etc so i took action...i needed to for my sanity.

I got rid off all subscriptions, all direct debits and standing orders, got rid of virtually all the contracts in my life, paid off both banks and closed my accounts with them in protest, and paid off my debts

I realised around that time that the main strands of the web that they use to wrap us into the system with are: contracts and debt

The regulators weren't protecting people from the sharp practices of the phone companies so they would ring up and say do you want a new contract for 18 months (you used to be able to get one for 6 months thereby giving you a greater ability to shop around for deals) and if you said no they would go ahead and do it anyway and you would get a letter through the post; so then you'd have to ring them up to cancel it and you'd go through the options and then be put on hold etc

All the coporations and government bodies do that now....if you ring them up you go through recorded options, then you're put on hold, then you're transferred to another department who say that it has nothing to do with them so they punt you back to the original dept who keep you on hold again before hanging up, or putting you though to another incorrect department etc

It is clearly policy to hamper the efforts of citizens and consumers

I try to limit any sort of involvement with those sorts of groups and if i have to deal with them to try and get face time...its much harder for them to brush you off then

After i got them to correct the descrepancy they had created out of thin air I told my bank manager as i closed my account that i hoped their rotten bank collapsed and it did...unfortunately the government bailed it out with tax payer money (it's funny how their 'computor errors' are never in favour of the customer!)

I once had a Visa card, when I was about 19 or 20 (I have no credit cards now nor will I ever get another credit card)...anyhow, not a large amount of debt around $1500...so it was the same thing...I told them I wanted to pay it off completely and asked them if I paid it on this date how much the payoff would be....was quoted an amount....but not before they tried to keep me there with bullshit incentives. Anyhow, I sent them the money and low and behold a month later, I received a statement from them showing that the payoff amount THEY quoted me was .50 cents short and they tacked on a $50 late fee....I was furious! I called up and was immediately told that there was nothing I could do, that I would have to pay it off....so I played their own game....I called them about 8 times that day asking to speak to various supervisors until one finally relented, agreed it was a bullshit charge that should have never been and removed it.
Now if someone had moved...or didn’t get their statement...and those late fees kept coming all while they thought they had it paid off....the Visa folks could and probably DO make a nice extra bit of change that way....assholes.

 

[muir]

I once had a Visa card, when I was about 19 or 20 (I have no credit cards now nor will I ever get another credit card)...anyhow, not a large amount of debt around $1500...so it was the same thing...I told them I wanted to pay it off completely and asked them if I paid it on this date how much the payoff would be....was quoted an amount....but not before they tried to keep me there with bullshit incentives. Anyhow, I sent them the money and low and behold a month later, I received a statement from them showing that the payoff amount THEY quoted me was .50 cents short and they tacked on a $50 late fee....I was furious! I called up and was immediately told that there was nothing I could do, that I would have to pay it off....so I played their own game....I called them about 8 times that day asking to speak to various supervisors until one finally relented, agreed it was a bullshit charge that should have never been and removed it.
Now if someone had moved...or didn’t get their statement...and those late fees kept coming all while they thought they had it paid off....the Visa folks could and probably DO make a nice extra bit of change that way....assholes.

Yeah that's the racket

The problem at the moment is that the regulators themselves are crooked.....so there's no one protecting the consumers from the predatory corporations except the consumers own awareness

 

[Skarekrow]

Yeah that's the racket

The problem at the moment is that the regulators themselves are crooked.....so there's no one protecting the consumers from the predatory corporations except the consumers own awareness

Well, we do now have Elizabeth Warren heading up the Consumer Financial Protection Bureau...that is a start...she is a good woman, perhaps one of the few honest politicians out there...she honestly wants to help the American people and protect us from being screwed, gouged, bankrupted, etc.
Our congress however, especially the political right, has done everything within its power to pull any figurative “teeth” the Bureau has at it’s disposal.

 

[muir]

Well, we do now have Elizabeth Warren heading up the Consumer Financial Protection Bureau...that is a start...she is a good woman, perhaps one of the few honest politicians out there...she honestly wants to help the American people and protect us from being screwed, gouged, bankrupted, etc.
Our congress however, especially the political right, has done everything within its power to pull any figurative “teeth” the Bureau has at it’s disposal.

There's a danger now that with the bank bailouts already having been carried out that any improvements to the system done now is closing the stable door after the horse is bolted because the money transfer has already taken place...it was a heist

If there are any reforms they can't just be about protecting the public from anymore exploitation they also need to help the public get back some of the wealth that has been sucked out of the real economy by the parasitical banksters

 

[Skarekrow]

There's a danger now that with the bank bailouts already having been carried out that any improvements to the system done now is closing the stable door after the horse is bolted because the money transfer has already taken place...it was a heist

If there are any reforms they can't just be about protecting the public from anymore exploitation they also need to help the public get back some of the wealth that has been sucked out of the real economy by the parasitical banksters

Exactly...and that was part of what the Occupy Movement was about...taking back the money that was legally the “people’s”. It was OUR tax dollars...OUR retirement plans...OUR 401-K plans...we didn’t vote to use it to bail anyone out...it wasn’t theirs to play with....it wasn’t theirs to gamble with...they out and out STOLE it from the American people. And what happened then?
They patted each other on the backs and passed out a round of million dollar bonuses while at their “conference” in Aspen...pieces of dog-shit.
Our media did it’s very best to make the Occupy protesters look like dirty, jobless, homeless, drug using, schizophrenic, hippies...when it couldn’t be further from the truth.
There were soldiers, there were police officers and Captains, there were people who worked and have families, own a home, pay their taxes...every religious denomination...retired seniors...etc. etc.
The people have had enough of their hard earned money being stolen out from under them! They are tired of the bankers having a double standard of prosecution...if I stole millions of dollars out of someone’s retirement account I would go to prison for the rest of my life.
What happens to them?
NOTHING.
They paid some fines that amount to pocket change for their organizations.
They gave more bonuses to each other.
People like Mitt Romney stash Billions and Billions of dollars in tax havens while the working class pay through the teeth...hoping that they will have enough to pay the power bill and go grocery shopping....fuck those guys!

If there is ANY justice in this life or the next, then there IS indeed a HELL for them to sizzle in one day.

 

[muir]

If there is ANY justice in this life or the next, then there IS indeed a HELL for them to sizzle in one day.

I think we might already be in it

At the moment they are the ones moulding our reality

The game changer will be when the people start thinking the way we are so that they become the moulding force

They have the money but we have the numbers

Also money only exists in the mind...paper money is based on confidence; it only has value if we believe it does

Some people might say that they also own hard assets and land...well yeah...but only through certain laws..and laws also exist only in the mind; those laws can be changed

That's the main thing the public need to realise....reality is what we want it to be...but we need enough of us to agree to it. At the moment too many people are reading off the script that is given to them by powerful people

We need to write our own script and start reading off that

If enough people decided tomorrow that they were not going to recognise the dollar and were instead going to use a totally different interest free currency the banksters would lose all their power....their money would be worthless and because it was worthless they wouldn't be able to pay politicans, police or military to do their dirty work....they'd just be a bunch of bitter old men

 

[Skarekrow]

I think we might already be in it

At the moment they are the ones moulding our reality

The game changer will be when the people start thinking the way we are so that they become the moulding force

They have the money but we have the numbers

Also money only exists in the mind...paper money is based on confidence; it only has value if we believe it does

Some people might say that they also own hard assets and land...well yeah...but only through certain laws..and laws also exist only in the mind; those laws can be changed

That's the main thing the public need to realise....reality is what we want it to be...but we need enough of us to agree to it. At the moment too many people are reading off the script that is given to them by powerful people

We need to write our own script and start reading off that

If enough people decided tomorrow that they were not going to recognise the dollar and were instead going to use a totally different interest free currency the banksters would lose all their power....their money would be worthless and because it was worthless they wouldn't be able to pay politicans, police or military to do their dirty work....they'd just be a bunch of bitter old men

The only problem is the lack of information available to the masses.
All the major media outlets are tied to big money...so of course they don’t want us to know certain things...
Like this for instance that I just posted - http://www.infjs.com/forums/showthread.php?t=27907&page=3&p=743495&viewfull=1#post743495

 

[muir]

The only problem is the lack of information available to the masses.
All the major media outlets are tied to big money...so of course they don’t want us to know certain things...
Like this for instance that I just posted - http://www.infjs.com/forums/showthread.php?t=27907&page=3&p=743495&viewfull=1#post743495

It's leaking out there and percolating down into the collective consciousness...it just takes time

 

[just me]

Don't pay your property taxes a few times and they sell your property to the highest bidder on the courthouse steps for non-payment. Seems they should just lien the property rather than steal it for a pittance.
maybe a lot of stealing goes on in the gov and nobody wants to be a snitch...

 

[Barnabas]

Yeah makes sense

Jeez i was dumb around that age too...before 2008 banks were just handing out credit to anyone and i didn't have a responsible view to money at that point.

The stupid thing about credit ratings is that if you don't borrow at all you will have a worse credit rating than someone who's sticking things on their credit card all the time. They reward borrowers by extending more credit

I knew some people who were able to get a string of mortgages because the bank liked that they already had a mortgage...never mind the fact they had barely paid any of it off!

100% mortgages they were giving out! Crazy times...

Tell me about, even harder to build your credit back up when no one will extend you credit because of your bad credit. Hopefully these are lesson I'll be able to ingrain into my kids heads someday.

 

[j654dgj7]

Last night I dreamt that the banks were hacked and everyone's debts around the world were wiped clean.

What do you think would happen at an individual, community, and world level if this happened?

Sometimes banks pay out a lot of money by mistake to small groups. It's humans behind the computers, and people make mistakes. When that happens, usually the banks will try to intimidate the small group of people into giving the money back. If they refuse, they have to let you be and keep the money. They often get the money back, from what I've heard.

Now, if everyone had a substantial amount of money paid out to them, what would happen? If it happened in the 1950's or 1960's, the small banks would go bankrupt and the big ones would probably be fine in the end, because they made their living off of keeping people's money and investing in bonds.

Now, however, nearly all of the money that the banks make go into the stock market. What that means in reality is that they have an unbelievable control over the world economy. Back to your question, what would happen? The banks would lose a substantial amount of money. That substantial amount of money would disappear from the stock market. A monetary subtraction of that amount would cause terror and, very likely, another financial crisis. If another crisis came, millions of people would lose their jobs, the government would readjust their speculative economic forecasts, and if we listened to the news, the world would end.

We can blame the middle class all we want, but wouldn't it make a lot more sense to make it illegal for the banks to buy a substantial part of the stock market? Wow, that got very political, I'm sorry.

I would love if that mistake happened. Millions of people would be free to open businesses, start pursuits of better lives, getting qualified to get the jobs they've always wanted. Of course a lot of the people would get right back where they started, too. People are different and do with opportunity what they see fit. I just think that it's a beautiful thought and dream that you had.

War? Chaos? Joy? Freedom?

Life and society are all of these things at once. We're just being told that life and society isn't complex, as I see it. For some there is more chaos than others, same with war, joy and freedom. Ask a hispanic janitor who cleans prison toilets how full of freedom and joy his life is. Ask a guy who is in the top 10 of the Fortune 500 list how much war and chaos he experiences. We're all going through these things all of the time. We're not different at all, we're the same animal, but we come from different places. I'm rambling, I apologize.

How would impact country level debt?

Here's a controversial statement for you:

The direct consequences of a substantial amount of money being paid to the entire population by the banks would not impact the banks or the government all that much. It would suck for the banks, because their budget could have just been cut by a third of maybe even half, depending on the size of your bank. Look at the amount of money that your bank has in their banks and on the stock market. They would be fine.

Think of it this way: Harvard University had $20.7 billion dollars endowed by the US Government in 2011. If they had to pay for all of their student tuitions ($34.000 a year at the time) they would be left with only $20.6 billion dollars. It's sort of the same thing with the banks. So if they have so much to deal with, why would a payout be a big deal? Because they make out speculative budgets for themselves and spend the money before they have them. That's the weird truth to why millions of people lose their homes, jobs and families. Banks can't wait to spend their money in highly speculative stocks.

What would happen to economic growth?

Another crash would be terrible for the government and working people. Economic growth is a sham, it's not an accurate measurement of people getting more money. Rich people run the economy and they receive 90-95% of the money that the economy grows by each year.

What would you do it you woke up one day and weren't in debt?

At this point I'm practically not in debt at all as it is. I hate debt. I will be saving money with my girlfriend/wife until we can buy a house outright. Renting a house is very cheap these days, anyways. Everything is possible, and you can live a great life if you're patient. You don't deserve anything, basically, you have to earn it. That's what the world is telling you. Any bank or financial institution telling you otherwise are trying to get you to sign a very expensive loan. I consider loans with more than 10% interest to be very expensive, don't go above that. Save money. When you've got enough money to go to Europe every year with your kids one day, you'll thank me

Now if you just blatantly gave me $50.000, I would first go visit [MENTION=9054]BrightWhiteHeart[/MENTION] and take her on a trip across America, then I would go home and buy a Gretsch and a Martin guitar, and finally I would buy ridiculous speakers from my apartment. Oh yeah, baby!

I don't think that I've ever gone this political on this forum before!

 

[Skarekrow]

Don't pay your property taxes a few times and they sell your property to the highest bidder on the courthouse steps for non-payment. Seems they should just lien the property rather than steal it for a pittance.
maybe a lot of stealing goes on in the gov and nobody wants to be a snitch...

It seems funny to me that greed is a GOOD quality in today’s day and age. What?!
Nothing else really matters to them but making the most money possible....even if becomes an unnecessary amount.
It reminds me of my brother’s dog that I watched for a few months...she wouldn’t chew her food...even if it was dry food...she would just gulp it down in about 10 seconds...and I know that if more were presented to her, she would keep eating and eating until she threw-up...then she would eat that too given a chance.
That is exactly how these hedge-fund managers and wall street tycoons are...eating themselves sick and then eating their sick.
Except that food wasn’t theirs to eat...it was put there by others trusting that no one would eat it!
These are people who need that food...because they have no other stash for the winter other than that...food that has been gathered over their lifetime!
They ate it anyhow...and were given no punishment other than to give the government some of the food that wasn’t theirs to begin with!
WTF?!
Have we gone so cuckoo-banannas with greed?!
It IS a deadly sin...when did it become something other than that?
And what was that about a camel through the eye of a needle?

 

[just me]

It seems funny to me that greed is a GOOD quality in today’s day and age. What?!
Nothing else really matters to them but making the most money possible....even if becomes an unnecessary amount.
It reminds me of my brother’s dog that I watched for a few months...she wouldn’t chew her food...even if it was dry food...she would just gulp it down in about 10 seconds...and I know that if more were presented to her, she would keep eating and eating until she threw-up...then she would eat that too given a chance.
That is exactly how these hedge-fund managers and wall street tycoons are...eating themselves sick and then eating their sick.
Except that food wasn’t theirs to eat...it was put there by others trusting that no one would eat it!
These are people who need that food...because they have no other stash for the winter other than that...food that has been gathered over their lifetime!
They ate it anyhow...and were given no punishment other than to give the government some of the food that wasn’t theirs to begin with!
WTF?!
Have we gone so cuckoo-banannas with greed?!
It IS a deadly sin...when did it become something other than that?
And what was that about a camel through the eye of a needle?

You can call it greed, and it may be just that, that empowers certain actions against others. Looking at what it is, rather than what impels it, makes me think of thieves. That means I feel they are stealing. Hand in the cookie jar, you know. Thou shalt not steal.

 

[Skarekrow]

You can call it greed, and it may be just that, that empowers certain actions against others. Looking at what it is, rather than what impels it, makes me think of thieves. That means I feel they are stealing. Hand in the cookie jar, you know. Thou shalt not steal.

They are 100% thieves....maybe not every single banker on Wall Street is...but I feel confident in saying that there is a huge group that are thieves.
They probably don’t see themselves that way I’m sure...they either are lying to themselves about what they are doing by justifying it some way or another...or they just don’t care that they are stealing so long as they get theirs.
It makes me sick to think about.
I just don’t get how it became not only something acceptable in our society, but it is something many aspire to reach.
So sad.

 

[just me]

That's why I quoted a friend of mine: Nobody likes a snitch. He was told he had to lie to get something he wanted. What's that all about, huh? People are scared to stand up for what is right, or there are not enough of them.

 

[Skarekrow]

That's why I quoted a friend of mine: Nobody likes a snitch. He was told he had to lie to get something he wanted. What's that all about, huh? People are scared to stand up for what is right, or there are not enough of them.

It just blows my mind some of the crap going on behind the scenes in this country...lobbyists, super-pacs, front-running stocks, etc. etc....all while we have children going to bed hungry in this country...veterans coming home from war shell-shocked and seeing our country turns it’s back on them...our bridges and roads are falling apart...I could go on and on and on...
I just don’t get it...where is the compassion? How did our priorities get so backward?

 

[just me]

In the meantime, our country is being given away(or traded). Is it for personal gain? Are they really seeking a world government? Why? So they can steal from everyone? It just isn't going to keep happening like that.

 

[Skarekrow]

In the meantime, our country is being given away(or traded). Is it for personal gain? Are they really seeking a world government? Why? So they can steal from everyone? It just isn't going to keep happening like that.

I really don’t think most of them are part of a giant conspiracy...perhaps there is...but I think most of these guys are just trying to grab as much as they possibly can up as fast as they can because they know that it is unsustainable to continue in such a way...once the middle/working class cannot afford the goods being manufactured then our economy will crash...and crash hard...we are almost there....our wages have stagnated since the late 70’s while inflation has risen to obscene amounts.
Wait for it....

 

[just me]

No; not going to just wait for it. If I can think of something to help, then maybe it can be thrown together with something other people think of. Maybe we can figure how to turn it around. I don't believe in massing in the streets, though.

Tell me: who could we trust to help us?

 

[Skarekrow]

No; not going to just wait for it. If I can think of something to help, then maybe it can be thrown together with something other people think of. Maybe we can figure how to turn it around. I don't believe in massing in the streets, though.

Tell me: who could we trust to help us?

I didn't mean it like that...sometimes things get lost without vocal intonation and such...
I AM trying to make a difference...albeit, I feel like there is very little I can do personally...that is why I have been trying to at least spread awareness of what is going on...because the media for the masses certainly isn't reporting on it...and if they do...then they make it seem like those who are trying to fight back are all just nut-jobs or dirty hippies...it is very frustrating.
That was part of the reason I started the "How can we take it back?" thread...to at least post stories about what is going on...if only one person is enlightened about some of the nonsense that is going on then that is one more person to stand against them.
If enough people are made aware of the situation, then maybe we WILL reach a point where we won't be so powerless...then perhaps a positive change can take place.