Posted 5 years ago on Feb. 9, 2012, 4:53 p.m. EST by martink
This content is user submitted and not an official statement
I summon to abolish lending system. It's an illusion that it helps poor people to buy something.
Let's see how it works. Mortgage/loan makes houses more affordable -> demand rises -> price rises -> now, people HAVE to take loan, including these, who would be able to buy a house for cash, if there would not be any loans.
Enslavement cycle is now shut: loans inflate prices -> people have to take a loan, because the price is high -> loans inflate prices.
It's obvious, that if there would not be any loans, the product would not be traded and according to a market economy(supply-demand), the price will fall to "traded" levels and the bank would not be able to get our hard earned money doing nothing. They are "middle mans", parasites.
I will tell you a real story from the Russian economy as an example. Up to approx 2001-2002 prices for apartments in St. Petersburg, Russia were about 15-20 thousands in US dollars for 1 bedroom apartment. Then they introduced mortgages approx in 2003. Prices jumped to 100 000! Now, 15-20 thousands is just an initial deposit. People who had 20K and could buy an apartment for cash, now have to take a loan too! So, how the hell banks helped people with purchasing a house? They just enslaved us for up to 30 years!
Bank is interested in high prices on products, because if prices are low and people are able to afford it without getting into debt, then nobody would not take loans.
So, loans actually inflate a price, making already expensive product more expensive.
What is a mortgage? Do do know the word mortal or immortal? It's a French word, meaning: "Mortgage is an old English term derived from two French words "mort" and "gage" meaning "dead pledge." " http://legal-dictionary.thefreedictionary.com/mortgage
So, it means "you owe to the death". Or even better saying - you are a slave to the death!
I still don't understand why US is calling itself as country of wealth and prosperity, while most people live in debt to the end of their lives.
I 100% support Wall Street occupiers. Lending the money to whoever without verification - is their responsibility. It inflated the housing prices without any fundamental reason, thus it lead to a crash. Did some of them go to a prison, even due to the multiple protests? They where rewarded instead with tax payer money, these who they robbed. And now, after the crash, they can buy everything for nothing using tax payer's money and huge reserves of newly printed money! Where is a fairness???
Here is a good idea for Wall Street Occupiers. Peaceful Revolution against Banks Cartel: Pull your money on some date in the same time. This is what should be advertised. If no one hears you, you should bite! See, what black people did when they fought for their rights? Like riots? It worked. So, when they loose money, they start worry and think about us. These people have no moral, no shame, no ethics, etc. Money is their God.
I would also suggest to stop taking loans. Prices will fall because of that and we would be able to afford "out of pocket prices". We either should make a law that outlaws lending, it's a best idea. Should be done world-wide for best results. In other case, if some of us decided to stop taking loans, it might now work. Because even if the prices will fall, someone will still be tempted to take a loan and it will start price inflation again. It will start the enslavement cycle again. It might not happen, if people are educated with this flaw system, what is a hard work - to bring this idea into the masses.
I know it's kinda painful when your house falls in price, but think about a future, your kids, think about what is right, when your nation, no matter where you live, is free.
Watch this movie "Money Masters" and educate yourself about the brutality of the system. These people saw it coming a in 90s.