[Vikas]

I always wanted to share my fight with debt, my opinion about different debt solutions available, my advices for people with debt problems. I wanted to share my complete experience with credit repair and credit ratings.

I wanted my own place where I can share and people can read from it and benefit from it.

Anyone else who had gone through the same thinking?


Me, Myself and My credit
(My story, my song, my advice, my experiences with credit)

A place for my own theories

I think I can contribute too

Can I know more about?

You mean I will get a space where I can share my experiences, my story and my day to day debt theories.

That will be great, will I be getting a website for it?

[roxette]

Hi Rony

Welcome to the forums.

After signing up in this forum which is free here, you will be able to share your experiences, story and your day to day debt theories. You will also be able to create a blog of your name.

This forum is divided into different segments to cater each of the avenues.

Please sign up here to enjoy each of these avenues.

Regards
Roxette

[shopaholic5]

I think it is good that there is a forum like this. It's kind of embarrassing to talk about your debt with family and friends. You don't want people to know what you owe and I feel like if my family found out they would be so disappointed. So it is comforting to know that their is a place to go to talk about it. It helps a lot. If you are in debt whether big or small it can be overwhelming and not to get all your feelings out about it is frustrating.

[Virginia-Legal-Defense]

I'm thinking about a big-picture aspect of credit. The Constitution says that only gold and silver coin can be currency, and that only the United States can coin money. But from colonial times, promissory notes have been exchanged pretty much as currency. Since 1968 when the U.S. dropped all pretense of having any monetary basis to its currency, what we've been exchanging are called "federal reserve notes". These are merely promissory notes, backed by the "full faith and credit" of the United States (emphasis on the word, "credit"). A promissory note is a promise to pay money, but there hasn't actually been any "money" since 1968. The notes used to be called gold certificates, which could be exchanged for gold coins at the federal reserve banks, then similarly, silver certificates, and now "federal reserve notes". When I use them to pay for stuff, I joke with the cashiers about how we "pretend they're money".

Well, recently, there's been a shift in the currency administration and distribution system. It started with the economic policies of the Kennedy administration, in trying to figure out ways to pay for the war in Viet Nam without having to actually get Congress to authorize expenditures. That's why we had terrible inflation through the late 'sixties and into the 'seventies. It's still getting ironed out, but basically the deal is that the federal reserve notes represent your share of the national debt, not money. And the way to shift the costs of managing the economy to the people is to encourage the use of credit cards. That way, banks issue them under the supervision of the Federal Reserve Board, the FDIC, and other thrift supervision agencies, and collect fees for their use. That way there aren't even any promissory notes. And that's good for the U.S., because it keeps costs down, adjusts with the needs of the economy without micromanagement by the Treasury Dept., and allows the secret police to track every expenditure, so that when we decide to categorize some class of people as "bad guys", we'll be able to round them up quickly and produce evidence of their evil motives. That's how they got the Oklahoma City federal building bombers, so it's clearly a useful technique. (What I worry about is the day that "they" decide that Jews, Catholics, or persons of Asian descent are "bad guys". It's happened over and over and it can happen here.)

At any rate, the credit card and consumer credit generally, represents the last phase in the shift from a monetary economy to a credit based economy. What we're trading around isn't money, anymore, it's debt. Even what we call "money" is a certificate of indebtedness. But there isn't any money. It's like when the Soviet Union was around, and someone asked a "man on the street" how the Soviet Economy works, his response was, "we pretend to work, and they pretend to pay us."

[TMD]

Vikas, I like your blog

[Vikas]

Vikas, I like your blog.

Thanks dear.


Now we have our new blogging system rolling. Keep blogging.

http://www.yesdebtfree.org/blogs.html - the list of bloggers.