Consumers paying off credit card debt generates $26 billion banking crisis.
The Credit Card Hustle by the Banks & the Fed Hits Rough Spot
The Most Revolutionary Act
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Consumers paying off credit card debt generates $26 billion banking crisis.
The Most Revolutionary Act 
Ha. Ha. and Ha. When I got into debt to pay for medical school, I learned what a trap debt is. I worked overtime in order to pay off that debt and all other debt, and have since then cancelled all my credit cards.
The debt-backed financial system we have in the US is a Ponzi scheme with the federal government in cahoots with the Federal Reserve to manufacture money out of thin air for use as currency. G. Edward Griffin’s excellent book, “The Creature from Jekyll Island: A Second Look at the Federal Reserve” gives a detailed look at how the Fed came about, as well as a history of banking and the result in the US of the Federal Reserve System.
The question I keep asking, and which neither Griffin nor anyone else can satisfactorily answer, is whether the US government has the right to indebt unborn taxpayers until the sun burns out, in order to pay interest on the federal government’s burgeoning national debt. The Fed is a privately owned entity, apparently still owned by the families who originally conspired to create it in 1913.
Why is it given a monopoly on the US money supply?
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