Tag Archives: debt

Should Christians Prepare for Economic Catastrophe?

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If you have paid any attention to the news lately, you cannot have missed the signs of pending economic disaster. People are struggling to keep their homes, banks are struggling to remain solvent, and governments are struggling to remain in power. And, what is a common financial issue in all these crises? Debt. Since allowing our governments to convert us from a commodity based financial system to a debt based system, we have created an appearance of prosperity through constant … Continue reading →

Will the National Debt Destroy America?

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Thomas Jefferson warned, “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.” Ignoring Jefferson’s warning, the American people HAVE allowed private banks to control their money. And, we are beginning to see the results of that decision. The rich rule over the poor, and the borrower is slave to … Continue reading →

Why Simplicity Is So Important

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Henry David Thoreau, one of my favorite authors, once declared, “My greatest skill has been to want little.” I’ve always taken this quote to heart and have endeavored to live a life of simplicity. Now, in recent times, I think that simplicity has become even more important. When you have a look at our country, devastated with debt, you can see how the concept of simplicity and living within your means has become a completely forgotten idea. On a countrywide … Continue reading →

Bogus Deficit Reduction

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Bill Clinton claimed the deficit was reduced more than since the Civil War and that his balanced budget would protect Medicare, Medicaid, education and the environment. On the surface it might appear he reduced the deficit, but the problem was the deceptive way Clinton accomplished this “sleight of hand” deficit reduction. It’s called “cooking the books.” You see, the government keeps two sets of books… One set showed the rosy picture Clinton wanted to paint for the American public. The … Continue reading →

Credit Card Debt

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The payment mechanism that consumers use to purchase goods and services has changed dramatically over the last 100 years and credit card debt has soared in recent years. Proprietary charge cards came on the scene in the early 1900s, followed by “travel and entertainment” cards in 1950. These cards did not have a revolving credit feature, it wasn’t until 1966, that the first general-purpose credit card (such as American Express, Visa, and MasterCard) was introduced. Before credit cards, almost all … Continue reading →

A New Kind of Money: Debt

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Prior to the 17th century most money was commodity money, typically gold or silver. A commodity money is a medium of exchange the units of which are fixed amounts of an actual commodity that has value other than as money alone. The continued violation of the law of just weights and measures led to a new kind of money. This was the goldsmiths’ debt rather than silver or gold coin. This development required the acceptance in trade of the goldsmiths’ … Continue reading →