Thread: Debt Slavery in full effect in the United States

Really eye opening please go to link and see the videos if you get a chance....they are a little long but worth the while.

Debt Slavery in full effect in the United States
News and Video: Banks 'set to call in a swathe of loans' - “The United States faces a severe credit crunch as mounting losses on risky forms of debt catch up with the banks and force them to curb lending and call in existing loans, according to a report by Lombard Street Research…

"‘We don't know what the value of this debt is because the investment banks shut down the market in a cover-up so that nobody would know. There is $750bn of dubious paper out there in the form of CDOs held by banks that have a total capitalisation of $850bn.’...

"The worst of the US property crisis has yet to hit since there is an overhang of $2,000bn of mortgages with adjustable rates which have yet to be reset. Many borrowers could see payments jump by half, or even double.â€

Yeah, that Bankruptcy bill was all for the companies..no real relief for the people. I can understand to a point about this change, but for a few, and those others who abused the system repeatedly, constantly going into debt then bankruptcy, it affected all. Punished by association I guess. The banks and other creditors made it really hard on normal people, who didn't abuse or overuse the system.

I was just reading the other day, as a large bank is of course taking over our little town local bank, (one office), how it came to be an attraction to a large bank is beyond me, other than as a foot in the door within our state.

Anyhow, on their rather tome of a disclosure, changes, etc. being instituted when they formally take over, there is a part in there, that they can take funds whenever they want for no reason from your account, and of course if checks bounce, they are not responsible. I can see if they have a relationship, i.e. loan, etc. and if late paying etc they can do that, but "for no reason" they can, is beyone me. Does anyone know they whys and hows they can accomplish this? Makes no sense to me........guess its getting time to "hide the money under the mattress" time and pay cash only for goods.