Why Keep Paying The Banks?

Video - Dylan Ratigan with Ryan Grim - Feb. 3, 2011

Why keep paying the banks?: Examining the pros and cons of walking away from an underwater mortgage.

First found at:
http://dailybail.com/home/why-keep-paying-the-bank.html

http://www.msnbc.msn.com/id/21134540/vp/41414453#41414453

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[englishvinal8]

The whole "American Dream" was to total hoax. It was a disgustingly successful way to enslave 85% of the entire nation... "I owe, I owe, so off to work I go"....

Yeah right, the American Nightmare... for THIRTY YEARS you live in indentured slavery.

.

Sure serves to keep you subserviant and humble doesn't it... and it keeps you too busy to SEE the other thefts that the politicians and bankers were foisting off on you.

.

Human beings (not human resources), GET OFF YOUR KNEES!

[mark32811]

The whole legal/banking system is a con, IGNORE these criminals in mass. Forget your mortgages, forget your 5 over speeding tickets, forget all fictitious debts. We are immortal, spiritual beings. No more.

[CosmosPrivateer]

@myhipsi

So what do we do when the machines make the machines????? What do we do when we have nothing to do and can earn no money to survive???

Look up RepRap, Self Replicating Machine.

Some day we will make our own products at home.

[CosmosPrivateer]

@myhipsi

Not when the creditors themselves created the money or debt out of nothing in the first place.

Fractional Reserve Banking.

[myhipsi]

@CosmosPrivateer

No, indirect human interaction is still required, because it requires a human to build a new machine/device that can produce without direct human interaction. Eg. An automated factory still needs maintanence, electricity, and people to build the machines that build the widgets, etc.

Once products are produced for very little cost, you can buy them for much cheaper, so these products reach the poorest in the market. (eg. cell phones)

The cost of printing money is irrelevent.

[myhipsi]

@CosmosPrivateer

I understand perfectly. They won't get that money back because that is the same money that has been lent out to other people who now owe that money back. If we simply "reset debts to zero", then those with investments will loose. It's simple economics. If it was as simple as reseting the debt, then it would already be done. For every dollar of debt on the market, there is a dollar of credit. If we reset debt, those creditors will lose out.

[CosmosPrivateer]

The more efficient we make it to produce product the less human interaction we will have.

At some time maybe even now we will produce products so efficiently that no one will need to work and using our current economic system there will be no one with money to buy the product.

The cost to print money is very small and even smaller if you create money out of data which most of it is.

The internet has changed everything our minds just haven't caught up yet.

[CosmosPrivateer]

@myhipsi

I never said they would lose that money, they can keep it.

You don't understand how simple this would be.

[myhipsi]

@CosmosPrivateer

IN response to your other questions:

Whether you create money or borrow it, there is a cost associated, either in the way of interest (on borrowed money) or inflation (on created money). You can't just print money and expect that it will hold its value.

The only true way of getting out of debt is to produce more with less, aka efficient production. Production is where real wealth is. Eg, If you produce food and mine gold, you are creating real wealth.