6 EASY STEPS to Burying America's Students In Debt
STEP 1: CONTROL the money supply;
STEP 2: charge interest on EVERY DOLLAR circulating;
Make everyone (including the government!) PAY for the benefit of using money that the government issues ONLY by authority FROM THE PEOPLE!
STEP 3: promise that if they LEARN more; they’ll EARN more. (note: no guarantees)
STEP 4: make education SO EXPENSIVE that in order to LEARN students must BURY themselves in DEBT (Repeat STEP 2)
STEP 5: Once buried, they must FIRST live their lives for YOU;
STEP 6: Then, and only then, can they live their lives for themselves and their families.
TOO BAD (SUCKERS!), we each have only one life to live!
PLEASE, think about it, long and hard.
He who controls the money supply, calls the shots.
He who calls the shots; decides who lives and who dies.
posted by qrswave @ Monday, November 28, 2005
38 Comments:
Great Post, and I am checking out the other posts as well!
Thanks!!
the more people that shed light on this kind of crap (that they pull!) the more people will start to fight it.
Thanks, again!
Tracy V
Here's a viable campaign promise, one that would get more young people to vote; some politician should pledge, if elected to push Congress for a bill to forgive all student debt.
I'm fifty-five, and debt free, BUT, not because I whipped the world into a money-maker, but because I've never borrowed.
Neither a borrower, nor a lender be. Compound interest is a wonderful thing, if it's being paid INTO your account.
Don Robertson
Camden, Maine
“Those unaware are unaware of being unaware”—Merrill Jenkins, M.R.
"If governments should refrain from regulation...the worthlessness of the money becomes apparent and the fraud upon the public can be concealed no longer"
--John Maynard Keynes
I just graduated with my doctorate and I have so much student debt, that I doubt I will be able to even think about helping my two small children go to college when they are ready. I am not sure I will even promote higher learning for my two kids as the cost of education might even now be at a prohibitive level, where the returns are not worth the investement. Of course learning is of extreme importance, however, not being able to make ends meet, when you have a doctorate and you rent a small home, in a rural community just to squeak by...not sure it was worth it. Sign me up for the lifetime of slavery...nice!
You're missing a key point and one of the founding reasons for the student loan systems. The kind of radicalism that overthrows governments depends on student movements. In places like France, where many more people attend university than graduate, and cafe culture is lively, students are a potent radical force. The year or two after graduation, or the year that students take off, are the times when they're most likely to become radicalized and protest inequities. Both student loans and widespread redesign of college campuses in the seventies are containment strategies, triggered by massive student protests against the Vietnam war. Student loans contain protest by making it very difficult for students to become "free radicals." Loans are like colonial laws against vagabonds, forcing students either have to be in school, looking for a job, or working, to service their debt. I counsel everyone I know to avoid them at all costs.
The Federal Reserve (and its member banks) needs to be completly ended, and a new, transparant entity ("owned" by Americans) needs to replace it.
The CIA is Wall Street.
Wall Street is the CIA.
"Don't let education get in the way of learning."
In this "anti-civilization", education is designed to trap you, learning will free you.
http://www.financialoutrage.org.uk/returning_the_money_to_the_people.htm
I got a partial scholarship based on economic status (my father was the victim of a corporate lay-off in the early 1990's, this brought my family's income low enough for me to qualify).
But even with this scholarship, I still owe about $20,000 and I haven't even graduated yet. I don't even know what kind of job I'll be able to get that would help me pay that off in a reasonable amount of time. I've been reduced to moving back in with my mother, and having to scrounge for any available job near me.
I feel lost in America. What a fuckin' drag...
A Conversation With Catherine on M3
Source: Liberty Forum
URL Source: http://www.libertyforum.org/showfla ... view=collapsed&sb=5&o=21&part=
http://www.solariactionnetwork.com/phpBB2/viewtopic.php?p=9796
Published: Nov 26, 2005
Author: Catherine Austin Fitts
A Conversation With Catherine Austin Fitts on M3 [ Post 294178555 ]
Synopsis: The discontinuance of M3 stats by the FED might cover massive fraud and currrency inflation Source: Solari Action Network Published: November 26, 2005 Author: Catherine Austin Fitts For Education and Discussion Only. Not for Commercial Use.
A Note from Catherine on the Fed's Cancellation of M3
I have been asked by several network members to comment on the cancellation by the Federal Reserve of the publication of its broadest series of aggregate monetary statistics, known as "M3."
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http://www.federalreserve.gov/releases/h6/discm3.htm
Discontinuance of M3 On March 23, 2006, the Board of Governors of the Federal Reserve System will cease publication of the M3 monetary aggregate. The Board will also cease publishing the following components: large-denomination time deposits, repurchase agreements (RPs), and Eurodollars. The Board will continue to publish institutional money market mutual funds as a memorandum item in this release.
Measures of large-denomination time deposits will continue to be published by the Board in the Flow of Funds Accounts (Z.1 release) on a quarterly basis and in the H.8 release on a weekly basis (for commercial banks).
Last update: November 10, 2005
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In a nutshell, here are my thoughts:
1. The twelve federal reserve banks -- that together run the bank clearing and currency system -- are privately owned. If you call them up and write to them -- as I once did-- and ask who owns them, who manages their data and whether or not their owners have access to their data, you will be told that this is private information. Fed bank data is arguably the most valuable databank in the world.
2. The flagship Federal Reserve bank is the NY Fed. The NY Fed is the depository for the US government and manager of a powerful slush fund -- the Exchange Stabilization Fund.
3. Significant efforts have been made to ensure that citizens do not have easy access to data about how all the government revenues and expenditures, credit and regulations work within the areas from which they vote for political representation. In short, you do not get annual financial statements that document the most basic government financial performance within your Congressional District. This means you have no basis for assessing performance or providing for citizen based accountability.
4. What 1-3 in combination mean is that corporate profits and stock, mortgage and bond markets (and other capital markets) can be invisibly rigged using taxpayer funded and backed resources in the form of government contracts, subsidies, asset sales and transers, tax benefits, credit guarantees and market intervention and manipulation -- all in a manner that perpetually increases the wealth of a few insiders and drains the many outsiders. This process steadily lowers overall productivity by switching power and money from the productive to the unproductive.
5. There is over $4 trillion missing from US government agencies that we know about-- this is $14,000 per US resident -- who knows how much is missing in total. This disappearance was financed by presumably trillions in debt securities for which the US government and government agencies are liable. As total debt outstanding explodes, it becomes more and more challenging to refinance outstanding debt let alone issue more. Grossly oversimplified, our financial dependency on other nations channeling greater and greater amounts of their total retirement savings to financing our military expeditions and consumer purchases of their manufacturing output becomes ever more politically sensitive.
6. The way to keep the game going is for the Federal Reserve system to simply buy increasing amounts of debt issued by the US government and for the US Treasury and Congress to use the proceeds to protect "insiders" from the resulting inflation while squeezing everyone else while the NY Fed manages market interventions that help do the same.
7. The cancellation of M3 helps accomplish #6 by cancelling some of the statistics (particularly on "repos") that would help market analysts see what is going on.
8. The Federal Reserve's explanation that this is a cost cutting move does not compute given the nature of the Federal Reserves rich resources and the importance of transparency to the functioning of markets.
9. In short, a small group of people continue to use US government debt to finance a war machine to build and consolidate global empire and to use inside information along with the US government budget and credit machines to ensure that this war machine is richly profitable for them and their global allies while draining and depopulating everyone and everything else.
10. The cancellation of m3 is Tapeworm Economics at its best.
For some useful pieces on the M3 cancellation, see:
http://www.solariactionnetwork.com/phpBB2/viewtopic.php?t=3060&highlight=
(Response from a solari network member)
I have been thinking that the banks will use the discontinuance of M3 statistics to cover 2 things. My idea is that they know now that there are several large corporations that are going bankrupt. They can sell their soon to be worthless bonds to the FED at the discount window. They will be monetizing the debt but in 2006 they will be able to hide the surge in money supply becasue M3 will no longer be divulged. I am thinking that since they know the dollar will collapse that they will be using this new money to buy commodities, such as, gold, oil, silver and copper. We might want to watch for a spike in commodity prices over the next 6 months. I should point out that when they unload their junk corporate bonds they will leave American pension funds holding the bag when those major companies do declare bankruptcy. And the ensuing inflation will devalue what is left of their pensions and savings to zero. Now you know why they need to pass even more Patriot Acts. Tens of millions of people will become destitute and might want to say bad words about the banks and the government they own.
Catherine's Response (Note Catherine used to be the managing partner at Dillon Read and worked at HUD under the first President Bush. She is an expert on mortgage fraud.)
When I first got to FHA, my analysis of historical financial performance indicated that whenever the real estate market dropped...everyone put their bad mortgages "back" to FHA/HUD. We were a dumping ground for the private guys losses so to speak.
Over the years, I have watching the private banks put many of their losses back into the federal credit....so your idea about bad bonds fits with the historical patterns.
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Daniel237 writes: "Catherine mentioned the trillions of dollars in federal government spending that was intentionally never sudited so that billions of dollars could be stolen each week. The refernce material for that is here: http://www.solari.com/learn/articles_missingmoney.htm "
anon gave this link above
http://www.financialoutrage.org.uk/returning_the_money_to_the_people.htm
here is something from that site:
According to a January 2005 Asia Times article:
"All Beijing has to do is to mention the possibility of a sell order going down the wires. It would devastate the US economy more than a nuclear strike."
When China withdraws its support from the US account deficit, the US could be facing the sort of currency devaluation that ‘crashed’ the German mark and turned it into worthless paper in the 1920’s. If the United States has to declare bankruptcy, its foreign loans will dry up, and it will be thrown back on its own resources.
If you are willing to spend $30k on a car to drive around in you should be willing to spend that much on your education. Besides, if you are smart about it, school pays for itself. I'm working on a Doctorate. Tuition is waived, I earn about $15k in TA salary, and supplement that figure with a modest amount of debt ($5k/year). What's the alternative? Plumbing? Telemarketing? Get real. If you want a decent job (unless you are satisfied operating your own lawn-care business), you need a diploma. If you want a decent job in a science field, you need a graduate degree.
Cheers
"Neither a borrower, nor a lender be. Compound interest is a wonderful thing, if it's being paid INTO your account."
That's essentially a paraphrase of Ben Franklin (aka Poor Richard). Ironically, he was CONSTANTLY in debt.
American college used to be nearly free for those willing to attend. Only when Gov. Ronald Reagan put down the student activists in the 1960's did the Student Loaners get their ride. As an anti-gov. campaigner, Reagan fought for reducing the student power and increasing military power. Consequently, once elected, the US military began promoting the "Be all that you can be" crap for students to get money for college. The two worked hand in hand. I always that Reagan to be the worst thing for America, aside from Clinton, Nixon, LBJ and the Bushes of course.
TOO BAD (SUCKERS!)...Damn righ, too!
As far as I'm concerned, higher education is one of the great scams of the last hundred years. It's OK if you want to be someone's bitch after 4-8 years at the great Brain Drain. As for me, I'll make my money growing weed.
If the discontinuance of publishing M3 is intended to hide massive inflationary infusions, the resulting liquidity will eventually allow easy pay off of all debt with discounted dollars. The key is to have your debt at a fixed rate.
"As for me, I'll make my money growing weed."
You probably think you are making the world a better place, too. Do you think you might look back on your life in thirty years and wish you had taken the other road? You add about as much to society and human advancement as a politician or insurance salesman.
I went to a public University when I was around 25 years old. I had taken out loans not only for my education, but to help pay expenses like rent, food and gas. Since I wasn't living too well like that, I took a full time job and tried to go to school part time. The University expected me to give up my job in order to take classes (only offered during the day). I ended up dropping out and hoped to pay off my loans. That was ten years ago. Since then, the economy in this area has tanked and taken me with it. The loans are in default and I cannot get financial aid (other than loans) to further my education in order to get a better job.
That's the one thing I can't wrap my head around: If I had a degree, I could get a better job - If I had a better job, I would have better wages - If I had better wages, I could pay on my school loans - If I could pay on my school loans, I could get a degree - so on and so forth. Why the government would withhold collegiate financial aid to people who could use it to better themselves to pay off their government debts is beyond me.
Goto my website at http://www.davidduke.com and learn about the Federal Reserve System.
The biggest scam ever.
Gonna really need some weed when it all tanks
Great post, but it just skimmed the surface. The money that the student owes, was borrowed from where?
Investigate fractional reserve banking and you will understand that almost 90% of the monies re-paid by students are actually clear profit.
A gross simplification of fractional reserve banking would be; if I had a thousand bucks in my pocket the law would let me lend out ten thousand on the strength of it, and then be re-paid the ten thousand plus interest on the full amount calculated in advance and not based upon a depreciating balance. Fractional reserve banking operates at or about the ten to one ratio, thus for every thousand on deposit they can lend out ten thousand, and you wondered what was wagging what.
Don't you guys get it? The educated with student loans are at the mercy of the lenders: have a low wage job and can barely feed your family? SCREW YOU, I WANT MY MONEY. Get sick and or disabled? SCREW YOU, I WANT MY MONEY. Just get laid off from GM or life destroyed by a natural disaster? SCREW YOU, I WANT MY MONEY.
Education is the biggest legal (and that is questionable) racket in existence today. How does it work?
First Step: A market has to be created; the market is created by having everyone from a high school gym coach to the President of the United States tell students how “important” education is.
Second Step: Make education so expensive that most students can’t afford it. However you don’t want the lion’s share of your market to walk away from the “racket table”, so you toss out an incentive to get the educational wheels turning, you toss out a PELL GRANT bone.
Third Step: Now that the wheels have been greased, and the suckers have bought into the game with the pell grant, it’s time to pull the rug out by forcing the “drop out” or “get a student loan” hand. The student thinks—I’m almost finished with my degree; it would be a shame to quit now. What’s two and a half years of loans compared to the earnings I’ll make once I have my degree in hand? Heck! I have a high GPA, and I’m even a National Honor Society member; I’m bound to make the big bucks after graduation. HA!
Voi la, sheep led to financial slaughter.
Ever wonder why college books change every semester, usually by edition with the older edition not usable the following year? Ever wonder why a book purchased at the beginning of the semester is almost worthless by the end of the semester (no mater the condition) when attempting to sell back to the book store? Smell R-A-C-K-E-T?
Closing thoughts to a long rant. I tell every high school-er I come into contact with to avoid college until you have a MARKETABLE SKILL. A marketable skill is what will get you through life, not a BA, BS, or even a MA. How is a marketable skill acquired? Go to a Community College, Junior College, Trade School, or Technical School and get a TRADE. After successfully learning a trade (in most cases two years), Mason, Auto Mechanic, Carpenter, Electrician, HVAC, Plummer to name a few, you can pay for a four year degree without getting student loans. Additionally, once the four year degree is obtained, it isn’t necessary to depend on that degree for income; you’ll have a trade remember?
Don’t think this is the way to go? Ask a Plummer, HVAC Person, or Auto Mechanic what their annual earnings are. Conversely, ask around to see if anyone knows a person with a BA or BS working as a substitute teacher, bussing tables, or a cab driver.
Can you say Rothschild/Schiff/Warburg
...These are the Zionist controlled Federal Reserve owners....Google: Federal Reserve Act of 1912 for the truth as to how we have ALLOWED for ourselves to get into this situation.....More importantly,this has been going on for 1000's of years...And it was all granted to the Jews by YAHWEH...Read Deuteronomy 15:06!!!
This is just the "tip of the iceberg",You foolish GOYIM".
Also-READ THE TALMUD if you want to know how your Jewish friends are allowed to treat non-Jewish humans...CATTLE!!
They do NOT want you silly white&black&red&yellow folks(non-Jew cattle) to know about this!!!!
Interest is a tool of oppression - invented by the Jews, our dark masters. It doesn't stop at student loans, it keeps going with mortgages, car loans, credit cards etc. Our freedom is not threatened by terrorists, but by a mountain of debt that keeps us scared about jobs, economy, a shrinking savings accounts. How do we cope? Prescription drugs that give us the will to go on. Abolish interest and the hard earned money is yours. Sleep better at night my fellow Americans.
Sincerely Debt-Free.
Yes sad but true, I've one of each degree (BA, BS, MS, PhD) and sitting under a load of student loan debt, 5 years deferred thus far. How I'm going to pay them off, I am not sure...
I haven't read through your whole blog, but I can certainly relate to this post. Here's a site I came upon recently that explains about Islamic beliefs regarding interest and usury:
http://hazariba.com/
I'm not Muslim, but I found the site very thought-provoking.
I went into debt for a teaching credential, figuring I'd surely get a teaching job. But then No Child Left Behind hit the schools, and the district where I live hasn't been hiring for the past few years. It's a very bad situation, and I agree completely that it's a control mechanism. People are being indentured to pay for "educations" while the university executives treat themselves to increasingly high salaries - with many pricey perks like allowances for housing, travel, transportation, etc.
Check this out if you want to see an example of how the universities are spending their students' money - I'll give you a hint, they aren't buying textbooks:
http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/11/13/MNGHFFNMAC1.DTL
oh crud it cut off the url to the article on UC salaries:
here try this
very good article and comments thank you
I too had student loans, but unlike much of America, I did not run off and buy a big house or fancy car after graduation. I lived frugally and paid off my student loans. I do not see any reason why the rest of America can’t do the same thing.
Despite my top of the class status and upper middle class family, I never made the decision to go to college. Now I have money through labor that I love and learn from. I don't own a car, house, degree, wife (sorry), kids, etc. and for the most part don't fit in like the interchangeable part my parents are. What I got going for me is a sense of freedom that I wouldn't compromise for a gaurantee of all those other things. Today I closed my only bank account.
Thanks all for the comments which make me feel more valid as a nomadic drop out. I raised three kids while working as a preschool teacher, carpenter, cabinetmaker, health food store owner/manager, graphic designer, and journalist. Most skills I learned on my own. I do not own a car, have a bank account, and my total debt is just over $1,000. I eat the highest quality organic foods and have enough time each week to bicycle and rollerskate more than 200 miles, and play music every day. Debt = lack of freedom; lack of debt = freedom!
In the EU university is free for everybody (but taxes: something like $1500 per year). And yes, as you can see we have great scientist, engineers and lawyers all around the world doing a good job.
So why aren't you coming to EU to study?
Living in EU for 4 years is going to cost you the same of 1 year US education.
Sorry for my bad english.
It is the great training robbery!
-why not pick up where JFK was right before being shot, let the actual government (not central bank) issue currency backed by physical assets rather than debt
-as for education, you can always buy the same textbooks and read them yourself
I highly recommend the book "Going Postal" by Mark Ames, who has a very entertaining online newspaper www.exile.ru
It's valuable to point out how we are getting absolutely screwed by the plutocracy.
However, what next? I think a mass economic movement based on localized production and localized trade is the answer. This way we keep money "in the neighborhood" like damming a river.
Right now our economy is like a raging river -- we get our wages, and give 'em right back to large corporations.
Damming up our money by developing and patronizing local producers and traders (for example, local farms, or become a cheesemaker see www.cheesemaking.com or a home beer brewer), this sort of Economic Organizing can then lead to Political Organizing.
Economic Organizing gives you a Captive Audience; people have to interact with one another.
Right now we spend all our time and energy working working working.
If we set up Economic Organizing that relieves some Financial Pressure on people, they will be happy to interact with you, or at least compelled to do so.
You use this opportunity to work on Political Organizing, and Replicating.
I am willing to work with people in my area. I live in CT. My blog is:
http://locallygrownct.blogspot.com/
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Managements
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How I Got My Loan From A Genuine And Reliable Loan Company
I am Mrs.Irene Query i was in need of a loan of $150,000 and was scammed by those fraudulent lenders and a friend introduce me to Dr Purva Pius,and he lend me the loan without any stress,you can contact him at (urgentloan22@gmail.com) Approvals within 2-4 Hours
1. Name Of Applicant in Full:……..
2. Telephone Numbers:……….
3. Address and Location:…….
4. Amount in request………..
5. Repayment Period:………..
6. Purpose Of Loan………….
7. country…………………
8. phone…………………..
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Managements
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