Monday, September 29, 2008

Credit: A Necessary Evil?

My grandfather, God Bless him and may he rest in peace, paid cold hard cash for anything he ever bought in life. He paid cash for his cars. He paid cash for every house he ever purchased. His philosophy was simple. If you couldnt pay cash you couldnt afford it. Back in his day, if you didnt have the money for something, you learned to go without, to "make do," with what you had, and,.. you learned to survive. Nobody liked to have to ask for anything, let alone to borrow money. It was like admitting that you are a failure. If word got out around the neighborhood that someone was looking for a loan at the bank, the people would say, "Poor Mr so-and-so, he must not be doing well." In my grandfathers time, it was an embarassment to have to ask for anything. The measure of man was judged upon how well he could provide for himself and his family on his own, so you can imagine what a humbling experience it would have been to have to go "a'beggin'" for a loan. How far we have come from those days!

Today, everybody is asking for everything that they cannot really afford, houses, news cars, flat-screen TV's, computers, IPods, stereo systems and other electronices, designer clothes, etc. We are a society based on CONSUMPTION:

(Cut & paste the link below into your web browser to see "Consumption" vid;)

and our whole banking system and economy operates on the continual issuance of credit & debt. There is no such thing as "real money" anymore and there hasent been for a long long time. There is nothing behind our money to back up its value, nothing but the "promices" of the issuer. Our money today is just printed or struck creations of new debt represented by little pieces of paper and medal coins:

(Cut & paste the link below into your web browser to see the "Money Matters" page of the New American Revolutionaries website;)

It was Thomas Jefferson who first warned us of reliance on banking,paper money & credit;

(Copy & paste this link to learn more about Jeffersons warning;)

"Neither a borrower nor lender be."

*Go Gold

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