[Roccland]

Really...stop paying your debts...I agree...your FICO means ZERO...really.

What prevents America from deciding that it has had enough Ben? What prevents the people from descending on Washington DC and camping outside your home, hundreds of thousands or even millions strong? What prevents The American People from deciding to go on a general "debt paying strike", flatly refusing to pay any principle or interest to any creditor, all of which are directly and indirectly your banking buddies, until you leave and we get someone responsible to take your job?

Denninger

[Cashmere]

Really...stop paying your debts: I agree...your FICO means ZERO...really.

What prevents America from deciding that it has had enough Ben? What prevents the people from descending on Washington DC and camping outside your home, hundreds of thousands or even millions strong? What prevents The American People from deciding to go on a general "debt paying strike", flatly refusing to pay any principle or interest to any creditor, all of which are directly and indirectly your banking buddies, until you leave and we get someone responsible to take your job?

Denninger

I'm a big supporter of the bankruptcy system.

What should be the punishment for living beyond your means?

I'd say impecuniousness is a punishment that fits the crime.

If you re-use the bankruptcy system, you will be impecunious.

[vision-master]

Really...stop paying your debts:I agree...your FICO means ZERO...really.

What prevents America from deciding that it has had enough Ben? What prevents the people from descending on Washington DC and camping outside your home, hundreds of thousands or even millions strong? What prevents The American People from deciding to go on a general "debt paying strike", flatly refusing to pay any principle or interest to any creditor, all of which are directly and indirectly your banking buddies, until you leave and we get someone responsible to take your job?

Denninger

I'm a big supporter of the bankruptcy system. What should be the punishment for living beyond your means?
I'd say impecuniousness is a punishment that fits the crime. If you re-use the bankruptcy system, you will be impecunious.

What if you have no means?

[Roccland]

Really...stop paying your debts: I agree...your FICO means ZERO...really.

What prevents America from deciding that it has had enough Ben? What prevents the people from descending on Washington DC and camping outside your home, hundreds of thousands or even millions strong? What prevents The American People from deciding to go on a general "debt paying strike", flatly refusing to pay any principle or interest to any creditor, all of which are directly and indirectly your banking buddies, until you leave and we get someone responsible to take your job?

Denninger

I'm a big supporter of the bankruptcy system. What should be the punishment for living beyond your means?
I'd say impecuniousness is a punishment that fits the crime. If you re-use the bankruptcy system, you will be impecunious.

Independent of whether one files BK (as an individual or corporation OR NATION)....we are quickly approaching a point where most all will be penniless.

I say default now...

Mail the keys in.

Stop paying your CCs.

and enjoy the show.

This ship is going down...why create more stress then already exists...

Really - stop paying your debts off...buy food, guns, gold, ammo...whatever.

Your FICO really means NOTHING.

Banks cannot lend to you.

Really - they can't.

Text deleted per COC: Messages exhorting others to commit illegal acts-FL

[Cashmere]

I'm a big supporter of the bankruptcy system. What should be the punishment for living beyond your means? I'd say impecuniousness is a punishment that fits the crime.If you re-use the bankruptcy system, you will be impecunious.

What if you have no means?

Then you're dead already.

[vision-master]

Stop paying your CCs.

Too late, don't own one red cent to them bastages......

[Cog]

What prevents me from defaulting on my debts? I gave my word that I would repay them. Otherwise, I am just as big a liar then the people in government and banking system that I criticize.

[vision-master]

What prevents me from defaulting on my debts? I gave my word that I would repay them and regardless of whether the government or bank lied, I keep my word.

Excellent, exactly what white boy middle class drone is conditioned to do.

[Cog]

What prevents me from defaulting on my debts? I gave my word that I would repay them and regardless of whether the government or bank lied, I keep my word.

Excellent, exactly what white boy middle class drone is conditioned to do.

Call me a white middle class drone if you wish. When I give a man my word, I go into it knowing I will keep my word regardless of the personal cost. If I was guarding your back, wouldn't you want it to be that way?

[Roccland]

What prevents me from defaulting on my debts? I gave my word that I would repay them. Otherwise, I am just as big a liar then the people in government and banking system that I criticize.

Ok - then keep paying.

[Cog]

I certainly intend to.

[Roccland]

I certainly intend to.

See - here's the deal. You are being lied to.

When the rules are changed... One should feel no obligation to stay in the game.

There will come a time when you will 1) lose your job or 2) it becomes too dangerous for you to go to your job...and you will default on what you owe.

#2 would be best for you as the blame can be placed somewhere else.

[Cog]

I certainly intend to.

See - here's the deal. You are being lied to. When the rules are changed... One should feel no obligation to stay in the game. There will come a time when you will 1) lose your job or 2) it becomes too dangerous for you to go to your job...and you will default on what you owe. #2 would be best for you as the blame can be placed somewhere else.

You obviously think you are talking with a noob in reference to the government and the financial industry. When I can't make my mortgage payment then I won't. Until such time as I can't, I will keep my word.

Now maybe you are used to lying to people on a daily basis but I certainly wasn't raised that way. If I am out on an LP/OP and my job is to stay awake, then you can be damn sure I will be awake. Lying is something I avoid whenever possible.

[Roccland]

You obviously think you are talking with a noob in reference to the government and the financial industry. When I can't make my mortgage payment then I won't. Until such time as I can't, I will keep my word.
Now maybe you are used to lying to people on a daily basis but I certainly wasn't raised that way. If I am out on an LP/OP and my job is to stay awake, then you can be damn sure I will be awake. Lying is something I avoid whenever possible.

Naw COG - you seem like a resonable guy...make a promise ...keep a promise. Hey that's good. But times are changing.

Going on a debt paying strike is a good way to send a message to our liars in DC. The constitution, I served while in the Marines, says that when a government lies to me I have a right to change that government. Just trying to do my part.
You are not ready yet ...and that is ok...but someday you will be.

[Cashmere]

I certainly intend to.

See - here's the deal. You are being lied to.

Sure, but about what?

911? The economy?

When you bought the 400k house on your family income of 50k a year, no money down, with a 1/5 ARM, you weren't being lied to about the loan.

Unless, of course, you count yourself as a source of information.

[Cog]

@Roccland
My father gave me 3 truths to live by and so far in my 51 years on the planet, I've tried to live up to them:
1) When you give a man your word, you keep it no matter what the cost to you.

2) When a man hires your for a job, you give it your best. If you can't give it your best then move on.

3) Never hit a woman. You just prove you are a less a man by doing so.

Now I understand what you are saying with this thread. I really do. When it comes time for this government to be overthrown, dissolved, or made to be gone away, then I will be there. But until that time comes, I will prep, keep my word, and continue to protect my family by all means necessary.

[Roccland]

Sure, but about what? 911? The economy?
When you bought the 400k house on your family income of 50k a year, no money down, with a 1/5 ARM, you weren't being lied to about the loan. Unless, of course, you count yourself as a source of information.

911 - yes
the economy - yes
Iraq - yes
Afghanistan - yes
food supply - yes
ITO the "loan"... That loan says if you stop paying...we take the house. I say take it.

Now - if you get into one of these "work arounds" the non-recourse part of the contract has been removed...they will follow you to the grave. DON'T DO IT!! Just mail them the keys and rent.

Also - don't tap your 401K to make loan payments - your 401K is protected under BK laws.

And some more lies for you to ponder from the link above from benny and the inkjets bernanke:

Just like you said "subprime is contained"? (3/07)
Or "we do not expect spillovers from the subprime markets to the rest of the economy or to the financial system"? (5/07)
Or "monetary and fiscal policies are in train that should support a return to growth in the second half of this year?" (4/2008)
Or "our baseline forecast is for moderating inflation"? (7/06)
Or ".... expect energy and other commodity prices to flatten out"? (7/07, right before the insane run in these prices began!)

Riddle me this Cash...when F&F are bailed out using your money...are you gonna still think you are not being lied to.
What will it take cash for you to "get it"?

[Roccland]

@Roccland
My father gave me 3 truths to live by and so far in my 51 years on the planet, I've tried to live up to them:
1) When you give a man your word, you keep it no matter what the cost to you.
2) When a man hires your for a job, you give it your best. If you can't give it your best then move on.
3) Never hit a woman. You just prove you are a less a man by doing so.
Now I understand what you are saying with this thread. I really do. When it comes time for this government to be overthrown, dissolved, or made to be gone away, then I will be there. But until that time comes, I will prep, keep my word, and continue to protect my family by all means necessary.

Your dad was a smart and admirable man...you should be proud to have him as a father.

[kpeavey]

Debt, as defined by Chris Martensen in his Crash Course video series, is a claim on future human labor.
When the money goes down, the only way to recover the debt will be to be place the debtor into indentured servitude until the debt is repaid.

You owe the credit card company.
The credit card company owes the bank
The bank owes the Federal Reserve.

The Federal Reserve becomes the de facto clearing house for conscription.

Get the hell out of debt.

[basil_hayden]

Debt, as defined by Chris Martensen in his Crash Course video series, is a claim on future human labor.
When the money goes down, the only way to recover the debt will be to be place the debtor into indentured servitude until the debt is repaid.
You owe the credit card company.
The credit card company owes the bank
The bank owes the Federal Reserve.
The Federal Reserve becomes the de facto clearing house for conscription. Get the hell out of debt.

AHA! If I owe the credit card company, and they own the bank, and they own the Fed, and the Fed uses taxpayer money to bail the rest out, and I'm a taxpayer, then I've already paid the credit card company.

SO THERE!