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The role of the Credit Reporting Agencies in the destruction of America

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posted on Jul, 3 2009 @ 05:46 PM
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How the scam works.

- The central bank gives money to big brother
- Big brother gives money to little brother
- Little brother gives money to consumers

- If consumers attempt to stop giving money to little brother, little brother resorts to extortion by using of the credit reporting agencies and/or the legal system against consumers.

- Big brother threatens little brother with expulsion from the system if little brother fails to successfully dominate consumers.

- The central bank bribes big brother to protect itself from little brother and consumers.

- Knowledgable little brothers and consumers within the system own pieces of big brother and know how to manipulate the entire system to thier advantage.

The credit agencies favor the central bank, big brother and little brother in said order.

Consumers are totally dominated by the credit monster. Those consumers who maintain good credit become puppet mouth pieces who support the monster. The system is inheirently designed to be devisive and self destructive in nature, beacuse people are separated into castes that can be easily controlled by each successive order above it. The model is designed to centralize control of society into the hands of the few. The power is effectively removed from the masses and the entire society is effectively put into bondage as everyone feels powerless to do anything.

It is this system of societal domination that breeds an environment that encourages the breakdown of traditional family values and beliefs. The only thing that becomes important is worshipping the central bank as GOD. This effectively elevates the few who control the central bank to the status of GODS. It is they that have the power to create and destroy. It is obvious that thier intentions are hostile towards the entire human race.


[edit on 3-7-2009 by In nothing we trust]




posted on Jul, 3 2009 @ 06:27 PM
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Give us more blood.



posted on Jul, 3 2009 @ 06:31 PM
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Interesting perspective.

After got laid off 6 months ago, I stopped paying all my unsecured debt. I had a very high credit score before this happened and by now it must be in the negative. The thing is, I DON'T CARE.

I have made a lifestyle change going from obsessed with credit to being repulsed by it.

I do not need to buy anything on credit. I have a car, furniture, a place to live, etc. I will SAVE and buy things. This is why I am not scared or intimidated by my credit rating going into the dumps.

It is all just a big scare tactic to get you to fear that you will pay more for money you don't need.



posted on Jul, 3 2009 @ 06:41 PM
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Originally posted by SuperSecretSquirrel
Interesting perspective.

After got laid off 6 months ago, I stopped paying all my unsecured debt. I had a very high credit score before this happened and by now it must be in the negative. The thing is, I DON'T CARE.


You might start to care when the collectors receive judgements from the legal system and start garneshing your wages.

I suspect that there is a bad credit tidal wave in the works that will completely finish off the system that is sufforcating America. This has most likely been thier plan all along. It is likely that they fully intend on motivating the people of this nation to destroy it for them, making way for thier one world government.


[edit on 3-7-2009 by In nothing we trust]



posted on Jul, 3 2009 @ 06:43 PM
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Originally posted by In nothing we trust

Originally posted by SuperSecretSquirrel
Interesting perspective.

After got laid off 6 months ago, I stopped paying all my unsecured debt. I had a very high credit score before this happened and by now it must be in the negative. The thing is, I DON'T CARE.


You might start to care when the collectors receive judgements from the legal system and start garneshing your wages.

[edit on 3-7-2009 by In nothing we trust]


Nah, Im still unemployed. As soon as I finally find a job I will file Chapter 7 =)



posted on Jul, 3 2009 @ 06:45 PM
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Originally posted by SuperSecretSquirrel

Nah, Im still unemployed. As soon as I finally find a job I will file Chapter 7 =)


You might want to do that before you find a job. After you start working again you will have a source of income that they can go after.



posted on Jul, 3 2009 @ 06:47 PM
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I have heard from several professionals in the real estate, banking and insurance fields that eventually a restart button on credit will have to be pushed due to overwhelming defaults on unsecured credit, medical bills, reposessions and forclosures. the reason for the restart?
America with bad credit is an America without consumerism and the economy will never rebound esp. the real estate market, they have to move the unbelievable excess in order to stop the down fall.
Makes sense to me but sucks for those who work so hard to keep their 800 credit scores.
We gave up credit a while ago, our scores are high but we just dont want it.
If we cant pay cash we dont need it.



posted on Jul, 3 2009 @ 06:49 PM
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Originally posted by SEEWHATUDO
I have heard from several professionals in the real estate, banking and insurance fields that eventually a restart button on credit will have to be pushed due to overwhelming defaults on unsecured credit, medical bills, reposessions and forclosures.


So why would anyone with current unsecured debt continue to pay on it?



posted on Jul, 3 2009 @ 06:56 PM
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The economy isn't getting better it's getting worse.

Remember it's built on people borrowing money.

This is gonna get steadily worse for years, maybe a decade or more.

Which is ok by me.

I'd actually like to see the size of our governments shrink as thier tax revenue is cut off and they are choked out of existance.


[edit on 3-7-2009 by In nothing we trust]



posted on Jul, 3 2009 @ 06:57 PM
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reply to post by In nothing we trust
 


I dont know...
Just what I heard.
Kinda goes along with the traditional (read not subprime) and the million plus loans forclosing not because of affordability but lack of equity and in most cases owing more than house is worth. So peeps are just going to stop paying and at that point they have bad credit so why not let all of the other chips fall. If you have bad credit why would you continue to pay those credit cards, why not just declare bankruptcy and ride it out for 7-10 yrs since the forclosure would have done pretty much the same damage.



posted on Jul, 3 2009 @ 07:56 PM
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Originally posted by In nothing we trust

I'd actually like to see the size of our governments shrink as thier tax revenue is cut off and they are choked out of existance.


So I've added another thread for our federal friends.

"How do you combat interstate racketeering by corporations involved in consumer credit extortion?"
www.abovetopsecret.com...

[edit on 3-7-2009 by In nothing we trust]



posted on Jul, 3 2009 @ 08:17 PM
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FYI I hate the credit bureaus. I tried to close my Paypal account, and had to verify my identity before I closed it. Paypal obviously had access to my credit report even though I had NEVER authorized them access to my social security number or credit report. When I confronted the agent on the phone, she panicked and got off the phone. I then called back and spoke to a supervisor who promised me that they didn't have access to my credit report....I asked her how they knew what my mother's maiden name was? She was supposed to call back and didn't.

Paypal is dangerous, deceitful and breaking laws because they don't consider themselves a bank, but a service. Merchants and Credit Bureaus have each others backs- and you are the pathetic idiot to be exploited.



posted on Jul, 3 2009 @ 08:23 PM
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Originally posted by lostviking

Merchants and Credit Bureaus have each others backs- and you are the pathetic idiot to be exploited.


They are working together to exploit the masses there can be no doubt.

The sad part is they are digging thier own graves as well. I suggest that everyone make thier own red list.

[edit on 3-7-2009 by In nothing we trust]



posted on Jul, 3 2009 @ 08:29 PM
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people are slaves to their credit numbers. how it got this way is irrelevant. fact is it did.

and the ONLY way to beat them at their own game would be for EVERYONE to let their rating go to to hell. but of course that would require everyone doing it and we all know that's never going to happen.

a lot of people who are out of work are already feeling the slide in their number...and are getting caught in that good old catch-22 of prospective employers checking their rating. too bad so sad.

and of course those who still have jobs are going to keep feeding into and perpetuating this monster and it will make them feel so much more superior and "special"...for a while. till it happens to them.



posted on Jul, 3 2009 @ 08:32 PM
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Originally posted by ~Lucidity

a lot of people who are out of work are already feeling the slide in their number...and are getting caught in that good old catch-22 of prospective employers checking their rating. too bad so sad.

and of course those who still have jobs are going to keep feeding into and perpetuating this monster and it will make them feel so much more superior and "special"...for a while. till it happens to them.


It's the perfect model of 'divide and conquor' don't you think?

They control everything and the whole time they get the slaves to authenticate the system of thier own incarceration themselves.

Welcome to the matrix. Everyone is a slave, no one is free, nothing is real.


[edit on 3-7-2009 by In nothing we trust]



posted on Jul, 3 2009 @ 08:34 PM
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reply to post by In nothing we trust
 


it sure is. and there is a way to beat it but the ones still in and using (as in the case of the neo-socialist corporations) the system on the plus side will never, ever see how truly evil it is.



posted on Jul, 3 2009 @ 08:40 PM
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Originally posted by ~Lucidity

... there is a way to beat it ...


The only way to beat it, is to destroy it from within.

We want blood.


Give us blood.




[edit on 3-7-2009 by In nothing we trust]



posted on Jul, 3 2009 @ 09:21 PM
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- The central bank gives money to big brother - Big brother gives money to little brother - Little brother gives money to consumers

I would like to clarify the original post.

First, consumers borrower money from banks - Wells Fargo, Chase, etc. These banks have money to lend because they have money on deposit from ordinary checking accounts and from the money earned on investments --- primarily loans on commercial real estate.

Banks earn interest from their loans - mortgages, lines of credit, credit cards, etc.

The whole "money out of nothing" idea is just plain silly. Banks have money on deposit, and lend it out at interest. If they borrow temporarily from the Federal Reserve system, they have to pay interest to the Federal Reserve.

This whole notion that banks just "magically" lend money "out of thin air" is just nonsense. The money lent - real money - comes from the bank's wealth of deposits and the interest earned on loans.

Now, let's discuss credit reports.

Personally, I have looked at thousands of personal credit reports. And, I can tell you, that there are 3 major reasons that are legitimate as to why people have low credit scores. First is a medical emergency. Second: a divorce. Third: a business failure or job loss with extended unemployment.

The reasons noted above are legit reasons for a low credit score. These borrowers are honest people caught in difficult circumstances. Because of their good character, they usually bounce back once the event passes because they pay their bills on time.

Then, you have a whole other breed of people that have bad credit scores for "bad character" reasons. Basically, they don't pay their bills either because they spend too much - or they are just plain crooked. These people will always have credit problems, and will never bounce back from their credit issues because of the fundamental flaws in their personal character. They believe that they have the "right" to defraud everybody and everyone - from their cell phone bill to their landlord. They have a long track record of abusing credit.

A small minority fall into credit problems because of their lack of competence and/or intelligence - They just don't know any better. These people are rare.

Most people - in general - fall into these 2 categories: Either you pay your bills, or you don't pay your bills. It is really that simple. The people that don't pay their bills make the cost of living ten times more expensive for the people that do. Because when someone charges off a credit card for say $10,000 and never pays the credit card company back, the credit card company has to make up for this loss somehow. They make up for the loss by building the loss into higher interest rates from their good customers that do pay on time.

A good percentage of the population has credit scores at 700 or above. I would estimate 50% or more of the population has decent credit scores. Again, it's usually black or white. People pay their bills or they don't.

Now, occasionally you do find someone that slipped up or had a dispute over a credit item, and has 1 or 2 credit blemishes on their credit report. They had a dispute with their electric company, for example, and the issue was never resolved. Or they had a few slow pays in the past because they lost their job temporarily. This is generally rare - Most of the time, the credit report is either clean as a whistle, or it's horrendous. Very few people fall in between.

Personally, I have little empathy for people who don't pay their bills and abuse the credit system in this country. Are their legit reasons for credit issues? Yes, absolutely. But most of the time, the issue is a character issue and a person has trashed their credit report because of their own character flaws.

As a lender, character is by far the most important criteria for a bank. Credit reports are simply historical records used to make a credit decision.



posted on Jul, 3 2009 @ 09:34 PM
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Consumers are totally dominated by the credit monster. Those consumers who maintain good credit become puppet mouth pieces who support the monster. The system is inheirently designed to be devisive and self destructive in nature, beacuse people are separated into castes that can be easily controlled by each successive order above it. The model is designed to centralize control of society into the hands of the few. The power is effectively removed from the masses and the entire society is effectively put into bondage as everyone feels powerless to do anything.

Consumers do have more control than they think.

Here's the issue: First, consumers have borrowed money too much, unlike their grandparents that grew up in the Depression.

Secondly. American consumers are notorious for overspending on everything from concert tickets, ball games, lipstick, cigarettes, etc. and other non-essentials.

There are people who do buck the system and never borrow a dime. They rent and save their money before they make a big purchase. They never use credit - ever. They don't have credit cards, but might have a debit card. You find a lot of frugal multi-millionaire business owners in this category of living.

Many families - if they put their mind to it - can be out of debt entirely within 2-3 years of determined effort. This excludes the home mortgage, which can be wiped out within 10-15 years if a family is determined to do so. Just listen to Dave Ramsey's radio station sometime, and hear all of the families that are now living a debt-free lifestyle - no credit cards, no car loans, no lines of credit, etc. It can be done if you educate yourself and take action. You also have to have strong willpower to say "No!" to non-essentials.

As far as "caste" systems go, I don't see it in America. Most people who get into credit trouble live pretty large because they have financed all their goodies. When they file bankruptcy, if they don't change their spending habits, they will return to their old mode of "living beyond their means".

If more people hadn't bought into this nasty credit culture we have in America, our economy would be in ten times better shape. Even our government can't control their spending.

There is no caste system in America. People are hurting right now - Yes, that's true. And this recession is very severe. It was primarily caused by greedy bankers and Wall Street tycoons, and gullible borrowers that borrowed beyond their means. We have had a long ride of easy credit and good times.

The smart people that are surviving this recession saved their pennies for a rainy day. It's tough out there.

[edit on 3-7-2009 by CookieMonster09]



posted on Jul, 3 2009 @ 09:42 PM
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reply to post by CookieMonster09
 


What? Wells Fargo, Citibank, American Express, Bank of America, Wachovia (Now WF), etc. etc. are NOT looking at your character they are looking at that "historical" data and if that "historical" data defines your character what a sad world this is.
Those 2 categorys you have are generalizations that do not even take into account character, character gives us individuality but you just lumped everyone into 2 categorys oh except for the inept, mentally slow category so 3 categorys.




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