Developing Countries Emulate The US, Turn Citizens Into Debt Slaves

This applies to Africa too; every time a ‘loan’ is made the banksters conjure the ‘money’ out of thin air via book-keeping entry; once a loan is made, the debt bubble can NEVER be properly offset/contracted; it adds to the national debt in a fraudulent debt-based economy operating under revolving foreclosure bankruptcy laws; resulting in runaway compound interest that can NEVER be paid back using the current global Ponzi scheme; money created via book-keeping entry [money of exchange] can never be paid by money of account; apples and pears;

ACTIONABLE FRAUD. Deception practiced in order to induce another to part with property or surrender some legal right; a false representation made with an intention to deceive; may be committed by stating what is known to be false or by professing knowledge of the truth of a statement which is false, but in either case, the essential
ingredient is a falsehood uttered with intent to deceive. Sawyer v. Prickett, 19 Wall. 146, 22 L. Ed. 105.

sentinelblog

From DollarCollapse.com

Emerging markets are emulating the US by encouraging their citizens to borrow, spend and become debt slaves. This is a bad idea that will cause immense pain

One of the big advantages of being a Latin American or Asian country used to be — somewhat counter-intuitively — the lack of credit available to most citizens. The banking system in, say, Brazil or Thailand simply wasn’t “advanced” enough to offer credit card, auto, or mortgage loans on a scale sufficient to turn the locals into US-style debt slaves.

But that, alas, is changing as those countries adopt their rich cousins’ worst habits.

Brazil, for instance, was once seen as a Latin American success story and future world power. But then it ramped up government spending and started encouraging its people to become “consumers.” And the rest is familiar, if depressing, history.

The following article is from 2015, about the…

View original post 710 more words

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