Credit card debt is mounting
Debt of what exactly? Debt is as real as trans. In fact, we should call it trans-debt. The bankers can call ledger entries whatever they want. But nothing was borrowed or taken.
The average annual percentage rate is now more than 20%
It's dangerous playing games with jews. They pull the rug from underneath you all the time, like Lucy does with Charlie brown.
Borrowers agreed to consume resources they didnt have now in exchange for paying those resources back to the lender later with interest. The ledger entries quantity their agreement.
We might both question their wisdom, but their consumption is quite real.
I only question the resources. I work in the finance industry and understand derivatives pretty well. Basically, the entire system is based on derivatives of derivatives of derivatives. It's not until you start to unwind this crazy shit you realize there's nothing there.
Our currency is all derivatives of nothing. It used to be gold. But thanks to Nixon, it is no longer true. Your statement is true, people agreed to replace the currency with more currency. However, connected people don't need to do that, only deplorables.
You do have a point - it's baffling to me how many layers of highly notional derivatives. E g. Jane Doe the public school teacher borrows money to buy a house she can barely afford upon the hope and dream her govvie paycheck will continue for 30 years. The lender bundles a bunch of them together into a CDO and tells pension funds that they're a great long term investment. The underfunded and usually government dependent pensions then pour the funds they do have into these crap MBS upon the assumption that the govt will bail them out when their shitty MBS dont meet their unfunded obligations.
Anyone with an ounce of sense is going to catch on like you did - Jane Doe is dependent upon fiat for her income to pay the loan. The pension funds are dependent upon fiat to backstop them to lend in the first place. There's not a lot of Rockefellers involved here who are actually producing stuff to fund this on either end.
It's going to be hysterical when fiat goes tits up and bitcoin goes to the moon.
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