What’s the Economy Doing to People in Debt? | DFI30

What’s the Economy Doing to People in Debt? | DFI30 | Ep. 408. 2022 has so far brought rapidly declining real estate prices, record high gas and food prices, and rising interest rates. It’s looking to be a perfect financial storm. So how are all these variables impacting indebted Canadians? On today’s podcast, Scott Terrio, Manager, Consumer Insolvency at Hoyes Michalos, returns to discuss what he’s seeing from individuals struggling with debt, borrowing trends, and the role inflation is playing in household budgets. Scott and Doug also share their thoughts on why homeowner-driven insolvencies may rise soon and give practical advice for what to do if you’re dealing with problem debt in this economic climate. Tune in for a lively discussion!

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[sharinglungs]

Despite Scott blocking me on twitter for no reason, I’ll still watch this show with him on it.

[mrme]

Our world has 3 fundamental practices that are problematic.

If we dont understand the root causes of a problem we will address the symptoms or the actors, not the causes.

The 1st is that large private and Central banks have obtained the Exclusive franchise to create ALL new Currency as Debt, with interest attached.

An increasing population needs an increasing currency, but it is all created as a debt bearing interest.
This indebts the whole world, every person, every government, in totally unpayable debts,   enslaving us all to bankers through personal debt or ever increasing excessive taxation, surcharges, permits, licences, registrations, regulations, fees, rates, duties, fines,   levies,   adinfinitum, of which an increasing volume goes straight to the debt creators, who created it for free. (At zero cost to themselves.)

2nd. Virtually no limitation plus fractional banking allows banks to create massive new Currency,   blowing massive bubbles (housing/stocks) which devalues everyone's savings and work by raising all prices.  

The fix ?

Stop all banks and financial institutions loaning out more than they have on deposit. Return legal currency creation to national treasury departments with a zero Inflation policy. 

This will not create inflation like some bankers/economists would like to have you think.  It is not WHO creates currency that drives the constant devaluation of your money & work,   it is THE VOLUME per population and productivity.
The banks increased the base currency supply by over 45 % since March 2020. This is further multiplied by fractional banking. You can't spend it off planet, and we've had no increase in population or productivity. How can it not devalue our savings, wages and retirement funds by around 50% as it enters the economy ?

3rd. Fiat currency whether paper or digital has no intrinsic value, thus it cannot be used as a long term store of value, particularly in an ever expanding fiat system.

The fix ?

Return to constitutional Silver, Gold, Copper & Nickle currency, designated by weight not cents/dollars. These will find their own local value.  These can't be printed to oblivion, have intrinsic value, and are a safeguard against selfish human nature.  Continue to keep the manufacture of Gold & Silver rounds by private mints & foundries to help keep the government mints honest as to premiums.

Correct these 3 Principles and >80 % of a nation's problems would disappear. Do not allow your masters the Debt slave creator's to tell you it can't be done. It is easily done. Beware. The WEF wants you totally enslaved with digital currency.

Otherwise, prepare for destruction.