Old Project Avalon Forum (ARCHIVE) - View Single Post - Clear Your Debts 70% of Credit Agreements Are Unenforcable Therefore NON repayable.

peacelovinman · 11-09-2008, 03:08 PM

Hi everyone

I'd like to add my two-penneth worth into this discussion.

Some years ago I managed to get myself out of all personal debt by selling a house that had apprecaited in worth. The reason was three fold:

1) So I didn't waste time working just to pay interest on what I borrowed.
2) To ensure as few people/organisations had any hold over me (when you owe someone, they have power over you).
3) Because I DETEST the immoral banking system.

Let's get one thing straight here: the majority of money in our economy HAS BEEN CREATED FROM THIN AIR! Where did the billions come to bail out the banks? It was created from nothing! Nobody put anything of worth into the deal - the money was simply created from nothing. This money is backed by nothing of worth - it is "fiat" currency.

Now, I don't have any credit card debts so I can't test out the fact that the agreements are uneforceable. But for those of you that, like me, would like your view of how the financial world works blown apart, I suggest you read "Spiritual Economics: How I Clobbered Every Bureaucratic Cash-Confiscatory Agency Known To Man" by Mary Elizabeth: Croft. You can download it for free from various places on the net.

For those of you who argue that, if you borrow $ 10,000 and don't pay it back, someone loses out show a naive understanding of how our economy works. If I spend $ 10,000 on my credit card, who has actually loaned me the money? No-one! It's just credit that has been created by my signature. That's why the contract is unenforceable. If you ask the credit card company to show you the actual accounting to validate the debt, they can't! They do not sustain a loss if you do not repay because the credit was created from nothing!

Lastly, a question for Mike. I quite like the sound of the Liberty Wealth Club but I have fallen victim to some of these network marketing scams before. Does the club offer something of real value or does it just teach people a "system" whereby you get paid for recruiting people into the system?

In other words, does it provide worthwhile financial information to their members in return for a fee, with those members that recommend others to join being paid a small commission or residual on their subscription (nothing wrong with that in my book)...

or...

Do they simply show you how to make money by recruiting people into the system who, in order to make money, have to recruit others with no actual worthwhile service or product being offered (a con, in my book)?

11-09-2008, 03:08 PM	#80
peacelovinman Avalon Senior Member Join Date: Sep 2008 Location: Essex, UK Posts: 141	Re: Clear Your Debts 70% of Credit Agreements Are Unenforcable Therefore NON repayabl Hi everyone I'd like to add my two-penneth worth into this discussion. Some years ago I managed to get myself out of all personal debt by selling a house that had apprecaited in worth. The reason was three fold: 1) So I didn't waste time working just to pay interest on what I borrowed. 2) To ensure as few people/organisations had any hold over me (when you owe someone, they have power over you). 3) Because I DETEST the immoral banking system. Let's get one thing straight here: the majority of money in our economy HAS BEEN CREATED FROM THIN AIR! Where did the billions come to bail out the banks? It was created from nothing! Nobody put anything of worth into the deal - the money was simply created from nothing. This money is backed by nothing of worth - it is "fiat" currency. Now, I don't have any credit card debts so I can't test out the fact that the agreements are uneforceable. But for those of you that, like me, would like your view of how the financial world works blown apart, I suggest you read "Spiritual Economics: How I Clobbered Every Bureaucratic Cash-Confiscatory Agency Known To Man" by Mary Elizabeth: Croft. You can download it for free from various places on the net. For those of you who argue that, if you borrow $ 10,000 and don't pay it back, someone loses out show a naive understanding of how our economy works. If I spend $ 10,000 on my credit card, who has actually loaned me the money? No-one! It's just credit that has been created by my signature. That's why the contract is unenforceable. If you ask the credit card company to show you the actual accounting to validate the debt, they can't! They do not sustain a loss if you do not repay because the credit was created from nothing! Lastly, a question for Mike. I quite like the sound of the Liberty Wealth Club but I have fallen victim to some of these network marketing scams before. Does the club offer something of real value or does it just teach people a "system" whereby you get paid for recruiting people into the system? In other words, does it provide worthwhile financial information to their members in return for a fee, with those members that recommend others to join being paid a small commission or residual on their subscription (nothing wrong with that in my book)... or... Do they simply show you how to make money by recruiting people into the system who, in order to make money, have to recruit others with no actual worthwhile service or product being offered (a con, in my book)?