Who's seen "Maxed Out"?
bigbadbill
Posts: 1,758
This is a documentary about America's growing debt problem. It's about 90 minutes.
11/6/95, 11/18/97, 7/13/98, 7/14/98, 10/24/00, 10/25/00, 10/28/00, 6/2/03, 6/3/03, 6/5/03, 7/6/06, 7/7/06, 7/9/06, 7/10/06, 7/13/06, 7/15/06, 7/16/06, 7/18/06, 10/21/06, 4/10/08, 4/13/08, 9/30/09, 10/1/09, 10/6/09, 10/7/09, 10/9/09
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The economy has polarized to the point where the wealthiest 10% now own 85% of the nation’s wealth. Never before have the bottom 90% been so highly indebted, so dependent on the wealthy.
Maxed Out on Google Video ...
... i have to say by the description, "How credit cards impose modern slavery on the people. To give people digits on their bank account and charge interest on something that is ... all » not real, backed up by nothing except debt, never had value, does not have value and will never have value." is accurate in that it seems to touch on the fundamental fraud inherent in the Federal Reserve System ... however, it is misleading to "charge" (haha, no pun) that credit cards are enslaving mankind ...
... it is mankinds own desire for more than he needs and his willingness to go in to debt that is the problem. Credit cards can be pure evil, or they can be great. It depends on how you use them, and what you settle for in a credit card company. I have an extremely low rate by the standards of my peers, and i use my card for EVERYTHING. That doesn't mean i'm a slave, it means i like to get 30 days of FREE MONEY ... and they i pay it off, or at least most of it.
Anyhow,
the point is, PEOPLE have to be accountable for their actions.
PEOPLE are the ones fucking themselves when the rack up a lifestyle on credit that is out of their means.
The SYSTEM is responsible for enslaving us ONLY in the sense that the Federal Reserve System is money based on NOTHING, and beyond that ... if you read The Creature From Jekyll Island, there are 3 or 4 MAJOR problems with the FRS in the way it abuses\ignores free market prinicples.
Example:
The FDIC insures ALL deposits up to $100,000 in the bank.
That means ALL banks contribute an identical percentage of their deposits to the FDIC fund. However, if any one bank failed, the liabilities due (depositors moneys <$100,000 per account) would be greater than the banks own share of contributing FDIC funds. That means the rest of the money is "taken" from the people ... not directly through taxes (that would be too obvious) ... no, the Federal Reserve System goes to work printing more dollars in this case, and feeds the new dollars back to the bank to cover the deposits.
What just happened?
Two things:
a. Fundamentaly, YOU just got fucked, because EVERYONE's dollar got devalued when the "government" (the Federal Reserve) printed new dollars to cover the single PRIVATE banks misfortune
b. The system SELF SELECTED FOR FAILURE! How? Well, imagine the auto-insurance industry working off of a giant pool of user fees that were IDENTICAL. Your sister who has been in 12 accidents, all her own fault, and YOU, who has NEVER been in a wreck, BOTH pay THE SAME AMOUNT in to the system. When either of you wrecks, you BOTH get the SAME coverage.
Are you going to continue to be as cautious on the road?
FUCK NO!
Same with FDIC ... the banks that want to be risky KNOW that they are on the EXACT SAME playing field as a more conservative bank ... they know The FDIC will step in and cover their ass just the same as if they were playing the safe game ... NOT ONLY THAT ... THEY ACTUALY ARE GIVEN AN ADVANTAGE! What you say !?! Yeah ... The FDIC will actually guarantee the FULL DEPOSITIED AMOUNT OVER $100,000 in MANY cases ... but ... here is the catch ... ONLY if your bank is a HUGE, RISKY bank.
WTF?
Well ... see the "american people" would never be so stupid as to think a little corner "Mom & Pop" bank needed a bailout ... fuck em ... they screwed up ... but time and time again the Federal Reserve has convinced congress that First Pennsylvania Bank or Continental Illinois or the Commonwealth Bank of Detroit ... etc etc etc ... that to let a bank of such stature ... large, important to the community, and the WORLD, that to let such a bank go under would cause such GRAVE HARM to the economy, that it is ESSENTIAL for it to stay open ... in fact, to let it close would fly in the face of the free market, and allow monopolies to be formed in the vacuum that is created.
Such hogwash practicaly ENSURES that large banks will be unscrupulous and will continue to lend willy-nilly to whom or whatever they can lend to.
They KNOW the Fed will step in and cover the WHOLE THING!
THey have and they will continue to.
It is THE reason the Federal Reserve was formed.
To FUCK YOU IN THE FACE while bailing out Mr Fat Pockets Banker Asshole!
READ "THE CREATURE FROM JEKYLL ISLAND" !
YOU WILL FREAK OUT!
If I opened it now would you not understand?
I only make that comment because the previous post says something about credit cards IMPOSING slavery on people, and that's a total farce.
EDIT: you did say that people have to be accountable for their own lives, so I totally agree with that. I was too quick to reply before reading the rest of your comments.
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.