The rise of Neofeudalism

Posted on July 10, 2011 by

This is how the modern loan shark credit industry works:

  1. They decide that money should not be backed by gold.
  2. They create money out of air.
  3. They loan you that money (even if you can’t afford it) and earn interest on it.
  4. If you can’t pay the interest and/or the principle back, they offer you loans to pay back your other loans.
  5. If you that doesn’t suffice, they take your collateral.
  6. If you offered no collateral, or they decide the collateral isn’t sufficient (maybe it’s just a bunch of overpriced houses, or something), they say, “Give me all your other stuff. How about some gold?”
  7. They own all your stuff and loan it back to you for your use.
  8. You work as a serf to repay the debt to your bankster masters.
  9. You can never pay back the debt because it increases while you pay it. You cannot pay it back, your children cannot pay it back, your grandchildren cannot pay it back… you have a new lord.
  10. If you complain at the injustice of it all, you are told that their superior position was earned by their greatness.

Up next: The divine right of Bankers.