How the Banks Destroy you

[Burroughs]

http://www.youtube.com/watch?v=hE5Sw8qJ-g0

everything you need to know is in the video

"I, however, place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared."
Thomas Jefferson to William Plumer, July 21, 1816

 

[MaddXMan]

ok so, this is the Anything Else forum now? Half of the posts here don't have anything to do with women, relationships, getting laid, etc.

Guess mods are awol or don't care.

 

[Burroughs]

maddxman you say you are 45 years old but you seem to be stuck on stupid

You are not getting any younger

Learn something or shut up meatstick

 

[pdx1138]

I like you Burroughs, but agree with Madd.

Too many unrelated posts in mature that are not related.

 

[Burroughs]

any *mature man* that is not interested in knowing more about the money around us and the history of it

is neither *mature* nor a *man*

remember women love money

connect the dots stupid

 

[Fatal Jay]

yeah I remember that cartoon, I seen it like two years back, I always wondered why America wasn't in slaved by England when we lost the revolutionary war.

I also agree with my main man burroughs, you aint a man if you not making and worried about your finances.

I seen plenty of ugly cats with hb10s because of it.

 

[PeakIV]

I agree with Burroughs..........


Thats why I owe the banks nothing.

Thats a grand total of NOTHING $0 £0

and I mean not even a mortgage......

Thats what you do after a breakup, earn the dosh and get some freedom and when the phone calls from you know who........ it's too late and you have bigger fish to fry.

Remember if you want to fly with the eagles, stop running around with the turkeys..

 

[PlayHer Man]

Burroughs this is great stuff.

Most people are ignorant and they're slaves as a result. And often they're willfully ignorant because when you try to educate them, they block it out, get pissed off or dismiss you with some half-baked argument. Its a shame.

I'm one of the few people I know who didn't get into loads of debt after college to buy status items to show off and look "rich". As time goes on I'm watching more of my friends become debt slaves living paycheck to paycheck, while my wealth increases. The same dudes who made fun of me for not having the newest car or smart phone a few years ago are moving back in with their parents to pay off debt or forced to live with 5 people in a house to save money.

Debt is modern day slavery. A person in Debt Slavery never gets ahead, since as soon as one debt is paid off, another is incurred. A person in Debt Slavery never owns anything, they only owe. Most, if not all, people who fall victim to this condition willingly sign up for it. In exchange for shiny consumer goods (cars, boats, televisions, clothes, etc.) they sign their lives away, so that they can have it all "now" rather than later. But they end up with NOTHING in the long run.

This is what happens when you listen to the idiot media, stay ignorant and engage in d!ck measuring based on "things" you have. :crazy:

 

[Fatal Jay]

I'm like peak, I don't owe the bank a damn thing, nor do I have any payments on anything. I buy $hit cash money, and if I can't buy it I don't need it.

This system we live under make it seem like debt is a good thing. Be a sheep if you want to, I rather be a Tiger by my damn self.

Big ups to plAYHERMAN, I did the same ****, I'm still driving a used car, while all my buddies have went to the broke house, for buying new cars and houses.

Do these idiots understand interest rates?

 

[taiyuu_otoko]

Debt is modern day slavery.

Not always. In the current climate, interest rates are effectively less than zero. Meaning that if you borrow some money at 1% interest, buy some asset that will appreciate along with inflation, such as an ETF indexed to metals, and then pay back your loan and keep the difference.

I say that debt is slavery only if you don't understand what you're getting into. Sure, if you're buying things like houses or other assets that are going to significantly depreciate in the near term, you're an idiot, playing into their hands.

On the other hand, with a solid understanding of how the game works, and some well thought out risks, one can use banks to one's advantage.

As big and complicated as the world is, there's always an angle to be taken advantage of for the discerning player.

 

[Burroughs]

one can use banks to one's advantage.

Not really

In 1970 maybe

In 2013 not so much

No one is getting loans at 1% (without major collateral)...No one that doesn't have 20 mil in the bank

ETFs have been quite unstable as of late...you miss on them you take a bath

Unless you are an institutional investor 100mil+ taking advantage of bank intra-lending rates banks are not really lending anymore..

Even those with 800 scores and above large down payments are required for residential purchases...

Unless you have significant capital to begin with you are not gaming the system....and if you say you are you are lying.

 

[Aristippus]

People are brainwashed into believing a house is a good investment. It isn't. Houses are overpriced, especially if you get a loan on one because then you're paying double or triple the cost of the house in interest. If you get a loan on a $100,000 house you're really paying somewhere around $200,000 or maybe $250,000 for that house.

Think about it for a minute. The materials probably cost around $20,000 to build a house that costs around $140,000. To build a house yourself should take no more than a year. So in reality, $20,000 worth of supplies plus a year's work, if you make $20,000 a year = $40,000 or TWO YEARS worth of work.

Yet it take 30 YEARS to pay off a house? If you buy a house by using a loan, you're slaving for 30 years for something that should only take 2 years worth of work to build, if you include working one year to buy the materials.

 

[Burroughs]

Yet it take 30 YEARS to pay off a house? If you buy a house by using a loan, you're slaving for 30 years for something that should only take 2 years worth of work to build, if you include working one year to buy the materials.

Ahhh if only it were that simple

there is also the question of the LAND and its proximity to your job

remember in the house price the value is in LOCATION, LOCATION, LOCATION

land in a prime neighborhood is not available as an open lot

for that you will have to go to the rural areas....very far from your job

so you get cheap land, build a cheap house, and now have a 5 hour daily commute :box:

not feasible for 99% of wage slaves

modern man is a slave in so many ways from his job, to his marriage, to his loans....and he never sees it is all by design

 

[Boilermaker]

once upon a time the MM was about discussing women.

Now Burroughs et. al have taken over.

 

[Aristippus]

not feasible for 99% of wage slaves

I'm not writing a "how to" guide for becoming a wage slave. I'd rather think of ways to avoid it. So far I've avoided complicating my life with loads of debt. It's nice not to owe anybody anything. You bring out some good points though.

By the way, the man who had the corporate job with the cubicle could always live rural and commute. Or rent in the city instead of buy. But with the cubicle job, he could even build his own house. Put up a small single or double-wide trailer on a piece of land and build the house on the same piece of land, using the trailer as a temporary residence.

Really, that would put banks out of business. If nobody borrowed money and only paid cash, buying what they could afford, the banks would have to become honest establishments that simply house people's money for a storage fee. It would be more like a storage unit than a bank.

 

[hansol]

Haha Burroughs. The sky is falling, and The Man is doing it all to keep you down. Damn those blasted Corporations/Governments/Boogeymen eh?

I'm tired of the conspiracies. Go post over at the Black Flag Cafe if you really want to get into it. I like to keep my women-philosophizing and my business-philosophizing seperate. Or in your ever-continued case, the fear-mongering and ignorant nonsense.

Oh, and save your breath, I'll do it for you: "**** yourself Hansel, you faggot/queer/ass rammer/generic gay slur" etc. Even your insults follow the same boring routine. Aren't you tired yet from deciphering all the ways The Man is ruining your life Burroughs?

 

[Burroughs]

Really, that would put banks out of business. If nobody borrowed money and only paid cash, buying what they could afford, the banks would have to become honest establishments that simply house people's money for a storage fee. It would be more like a storage unit than a bank.

aristippus you are already ahead of the game in terms of most men.

most of the traps 99% of men fall into you will not and have a better life as a result

but as always when considering weighty matters we must consider the ignorant cretins who would prefer ignorance over wisdom....then again it may be too late for them.....oh well :crackup:

 

[Aristippus]

Burroughs,

You'd probably like the book "How I Found Freedom in an Unfree World" by Harry Browne. He talks about how people can take steps to be free without waiting around on governments and institutions and how to do so without organizing groups or movements. He talks about a lot of the traps in life that many people unwittingly fall into. These are psychological traps.

It's more about being free now and using existing circumstances to your advantage. Then things like corrupt governments and institutions don't really matter. You no longer feel you have to change the system. You can change your own actions 100,000 times faster than waiting around for a bunch of people to organize and "give" you your freedoms. Instead you TAKE your freedom. One way is by avoiding the traps that rob you of freedom. The other is by choosing how to use your freedom the way YOU want to. Everyone is different. What's worthwhile to me may seem like a complete waste of time to you. It's YOUR freedom. Do with it what you like.

 

[betheman]

Good Find Burroughs, depressing watching though however much truth is in their. the question I ponder are what the hell (apart from staying out of debt and being as self sufficient as possible) can we do to addrress it? its a monster and its got so much power and momentum.

and now starts the money grab....http://www.guardian.co.uk/world/2013/mar/16/cyprus-eurozone-bailout-anger

 

[Ruleit]

and now starts the money grab....http://www.guardian.co.uk/world/2013/mar/16/cyprus-eurozone-bailout-anger

Yup, this is the tip of the tsunami that is heading towards the good old US of A.

FYI: I'm one of the people who's just been f*ckud out of 10% of his life savings. I'll be withdrawing all my money out of the Eurozone ASAP.