Wednesday, July 28, 2010

5 Reasons NOT to Pay Your Credit Cards

Are you one of the millions of Americans trying to decide between paying your credit card bills and eating?   

John Galt -- Activist Post

We live in a matrix that goes to unspeakable expense to nurture us from the teat to be good consumers. You are issued a tax collection number at birth (SS#), another artificial number for your credit worthiness (FICO), and then you're extended a certain amount of tokens to play "life" based on those numbers.  This virtual currency, not unlike your earned Farmville coins, only has value because you give it value.  

It is a brilliantly designed game:  the banksters create a unit of money out of thin air; lend it to people with interest attached; get them to buy real items; then raise the rates, force people to work harder, hover like a vulture until expected default occurs, and rake in the forfeited assets.  Best of all, when the whole Ponzi scheme comes crashing down because they drunkenly gambled with your interest payments, the very people who destroyed you get bailed out by you with tax money.  And they call you the thieves when you can't pay them back.  The game is rigged for the house and it's always a Win/Win for them and a Lose/Lose for you.

Sure, you get to "rent" a flat-screen TV, a car, or a home from them, making life in the matrix almost worth it.  But, ultimately, you only temporarily use that stuff at great expense to you and massive profits to the banks.  After years and years of paid interest, you still never truly own anything.  The TV is now obsolete and worthless; you still must pay increasing property taxes and insurance on your homes and cars, even when your done paying the bank three times their value, all while they bought your years of servitude with nothing real or tangible.

In truth, if there was real justice in America, the criminal banking cartel would be arrested under the Federal Racketeer Influenced and Corrupt Organizations (RICO) Act, and their assets should seized and returned to their victims.  After their arrest and the unconditional release of all debt prisoners, a new, fair, and sound money system should be put in place for the benefit of all (See The Secret of Oz).

For the many who are contemplating dropping out of the corrupt debtor system, the least impact from the mafia will occur by ignoring your unsecured credit cards.  Before you take this action, be warned that you may have to return the signing bonus gift you received when got your contract to play in the big leagues. 

Here are the top five reasons not to pay your credit cards:
  1. If you owe $6,000 on a credit card with a 20 percent interest rate, and you only pay the minimum payment each time, it will take you 54 years to pay off that credit card.  During those 54 years you will pay $26,168 in interest rate charges in addition to the $6,000 in principal that you are required to pay back (Source).
  2. Under the legal fractional reserve banking system, the banks NEVER actually had the fake money for the credit they extended you in the first place.  They added you to their stable of debt slaves with a simple accounting key stroke.
  3. The cartel of the large private banks are a proven criminal entity at the heart of most global problems including, but not limited to:  wars, genocide, famine, and resource plundering.  It's immoral to continue to support such a system on any level.
  4. You won't need a good credit score to live outside of the matrix. It's a place in your mind where it is okay to not ever "use" anything with bank financing for the rest of your life.
  5. Not paying your credit cards may be one of the only ways to make the matrix feel the weight of your protest without drawing too much oppression.

Since the foxes guard the chickens on Wallshington Street, the citizens may have to take justice into their own hands through peaceful resistance -- by simply dropping out of the matrix.  In other words, don't pay your phony debts to criminal banksters.

not paying your debts, you should expect the system's goons to rain down fear by way of phone calls and mail to you.  Additionally, you will certainly risk losing your esteemed Farmville status and, these days, you may even win a free trip to one of the oligarchy's private jails

However . . . you could just wind up gaining some independence from your manufactured stress and servitude.

5 Reasons to IGNORE Collection Agencies, The Henchmen of the Banking Mafia

This article may be re-posted in full with attribution.


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William said...

Interesting article. I like the way you try to convince people to deny the responsibility of borrowing and repaying the debt. Are you going to put on your credit card statement "I'm not paying you back because I don't like you anymore!"?
Is it ok to borrow money/debt or whatever to buy a new flat screen television and not pay back the credit card company but still keep all the goodies? No, it's not.

In your rantings and comments on the promotion of irresponsibility you seem to leave out the part about personal accountability. If you want to condemn someone, at least have the decency to condemn the correct people and they would be the ones who used the cards. The ones to borrowed the non-existent money, the ones who kept borrowing more and more. Those people who signed the contract for the card and the priveledge to incurr the debt. Yes, the people who just couldn't resist the siren song of consumerism. The sheeple with low self esteem from not being able to keep up with the Jonses.

No one put a gun to their heads and told them to incurr enormous debt or else. But now that the orgy of mindless consumerism is over, you are crying foul at the people who agreed to participate.

I like the way you try to convince people that stupidity is acceptable, to sign an agreement without reading the terms, to act with complete disregard for the consequenses. Do you remember that old movie with Mathew Broderick? "War Games"? at the end the computer said that the only winning move is not to play. Unless you know the game, you are always going to lose.

phishna said...

Everyone should default on their debt because the entire debt structure is a fraud perpetrated by Jewish banking elite to enslave the world.

They have taken over our money and substituted their fiat currency, inflated the supply of notes and ruined our nation through inflation.

Inflation destroyed savings and pushed everyone into credit as a means to exist. It's time to stop this insanity and default. No one needs credit cards, we need sound money.

And its time to arrest the central bankers and charge them under the RICO act as organized criminals that they are, not to mention treason for acting against the citizens of this nation.

The Federal Reserve must be nationalized and the private cartel disbanded. No one owes when fraud is involved, it is moral to default because the credit was never real, those that accepted the credit as payment are equally guilty and should also suffer a loss.

ShdwmnkyX said...

I agree with both the poster and comment above. However there really should be more of a focus on educating the youth on why not to use credit cards and why saving is better. It would be easier to break this cycle if they understood that. Of course then we would need to teach them values, and how not to be superficial...

RoyLamx said...

Instead of defaulting, why not learn the legal truth of the fraud behind our debt-based currency and what you can do about it:
Read and understand who you are and who the G'ment isn't and you won't have to be afraid of them anymore.

Thebes said...

I we all stopped paying our credit cards the system would collapse within a month. Thats all the reason anyone should need!

Frank said...

I can't stop paying my credit cards because I don't have any. I pay in cash (sometimes debit card), which means when I buy something, I own it, without interest.

But without credit, I was unable to get a cell phone through Credo Mobile (though it ended up working out in my best interest because I ended up with a better phone and cheaper plan with month-to-month Metro PCS - and no contract!)

But what if I want to buy a house, it might be hard for me to save a few hundred thousand dollars in the near future.

Jay said...

@ Frank - The reason it costs you so much to buy a house is because of all the fools who get duped into buying everything on credit.

@William - The reason it costs you so much to buy a house is because of all the fools who get duped into buying everything on credit.

At least Frank had the honesty to question this article with a genuine sense of inquiry. William's comments, on the other hand, are pure idiocy. All kinds of people like myself, who have never been in debt, suffer direct and indirect consequences of the fact that the banks lend out more money than is in circulation. To say the banks have no share in the blame, to ignore the corrupt bailouts and theft of the hard-working people is a vile shame; William you are a despicable human being. I wonder if you are an employee in the financial sector, mindlessly repeating your boss's talking points.

Adam Chalmers said...


It's not Jewish banking elite who are perpetrating this on the world. These are Zionists. Look up the difference between a Jew and a Zionist then retract the beginning of your post.

Lazy DBA said...

If you're only making minimum payments, you're doing it wrong. Minimum payments are deliberately designed to maximize interest payments. They also don't help your FICO score because you have a larger revolving debt over the moving average.

Credit cards should be treated as short-term loans, not long-term loans. If you need 54 years to pay back $6,000@20%APR you have serious financial issues (and are paying just $98.36/mo, or only 1.6% of the original loan value every month). I'd expect the actual minimum payment to be no less than 2% of the balance, which would be $120. $120/mo means you'd take 8 years and 8 months to pay off the balance, in which you'd pay back 207% of the value of the original loan.

If you need 5 years to pay back $6,000, you also have serious financial issues. That's a monthly payment of $156.36. You'd end up paying 156% of the value of the original loan.

I might see 2 years being an acceptable upper bound. That would require $300.37 for those 24 months, in which you paid $1208 in interest on the $6000 principal, or about 120% of the value of the original loan. If you need more than 2 years to pay off a loan, you're better off talking to family who aren't going to be usurious.

Steven G. Berry said...

I think we need to outlaw the taking of interest before we can even hope for economic recovery. Barring that simple step, world-wide bankruptcy is a mathematical certainty. The future looks to me to be a painful reset followed by further boom and bust cycles due to our own greed.

When a loan is created out of thin air, the money does not exist until the ink dries on a loan contract. Such money has not been earned by anyone, yet. It cannot exist until the borrower proves it can be repaid. Money, therefore, is created by debt authorized by credit that will be made good through work.

You might say, “Money is sweat.” I think bankers should be damned glad other people do all the real work for their pay! Bankers live on the sweat of those not born into wealth.

Unearned taking is usury. Usury is cheating. Nobody likes a cheater.

defenestration01 said...

Wow, did you realize this article made an add pop up on my computer for "AccountNow Prepaid Visa® card is issued by MetaBank?"

Oh the irony

Sol said...

If the credit was created when you draw the money on the card, surely only the interest is payable. But they have you paying back the full amount and the interest. So these banksters get 2 lots of the credit and the interest.

enquiries said...

The only way to prevent this is to stop using the cards and pay cash and if you don't have enough save. the house issue is a different matter most can't afford to simply shell out a hundred thousand or so, taking a mortgage is the only way. Some might even argue that the companies are not at fault, afterall nobody is forced to sign up even though it's pushed on to us 24/7! And to get everyone to stop paying won't happen because too many people are scared of the consequences.

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freeannie33 said...

Well, my take on the whole debt issue is this: The entire world is in debt. America alone is 13 trillion dollars in debt. Employers want their employees to have good credit to get a job; insurance companies want you to have good credit to get a good rate; it's completely backwards! How can you pay your debt if no one will give you a job because you have debt and 'bad credit'? A person whom has bad credit or debt is viewed as irresponsible in the insurance industry and is given a higher rate. What on earth does bad credit have to do with safe driving you say? NOTHING. The truth is, these individuals and these corporations, owe huge sums of debt themselves! And they have the audacity to expect their employees or clients to be different from the rest of the world? The only ones in the populations that are largely debt free are our young people; whom they eagerly want to enslave with their debt as well. No one should feel bad for not paying money back that was created out of thin air. So you bought things! Are you supposed to live in misery while those that pull the strings enjoy all the comforts of the matrix? Hell no. Fiat monies are illegal! Pay them back? WHY? I say don't pay them back, don't pay your taxes, JUST REFUSE TO PLAY THEIR GAME AND IF ENOUGH DO IT: IT'S GAME OVER.

Gary said...

This is a great idea, but those considering this should first know the risks involved and hire a company like: to help protect you from the risks.

Some consequences of not paying your debts are:
1. Lawsuits
2. Asset Seizures
3. Wage Garnishment
4. Bank Levies
5. Bench Warrants for arrest (Yes, its happening now! for not answering court summons).

To understand the risks and how to be safe & protected check out:

Vatic said...

If they throw you in jail for a civil offense such as not paying your debt, then we are back to where we were when our forefathers left england and came to America, to get away from that situation.

Fraudulent banking and we go to jail??? Now isn't that just a perfect example of the "perversion" of the entire system? What kind of perverted mind would dream this one up???

No wonder we have the largest number of prisoners in the globe, most are in there having committed no crime at all. Rather civil offenses, so its just another way to be like China and have a slave labor work force within the prison system.

I say if that happens refuse to work and if they insist than sabotage their equipment and products. There that should do it. lol

ReasonForLife said...

Vatic, they don't throw you in jail for the unpaid debt per say, but they use a loophole and turn it into a criminal matter if you fail to show up to court.

So the arrest is for failure to appear aka Contempt of Court, not the debt itself. Pretty crazy but very avoidable. Just show up! Don't matter if you win or loose.

Lee Murray said...

Short circuit the whole system by filing bankruptcy Completely legal and same result

Lee Murray

Kate said...

It should take an immature moron only a year and a couple of thousand dollars in debt to realize the fact of the broken debt machine.... it is not something to toy with. It is a fact and a harsh reality that you need to make money in order to spend money. That's what our parents did and some of the odd balls got into debt real hard and were never able to get their way out of it. Just spend what you can afford and that way the machine does not get choked with millions of dollars in debt. Face the facts, everyone has it tough when they start out... start out small and work your way up don't take credit for granted.

se7ensnakes said...

private companies called banks create most of the money necessary for a functioning economy. This is a tremendous power, because they can, with intent, create or break the economy. The base money supply is a small portion of the money. what is even more amazing is the ignorance by the general public. So i disagree with anyone that says: you borrow the money so pay it back. Specially when they start to go into the: you bought a big flat screen television so cough up the money. What they dont understand is that due to inflation, anyone paying back the credit card is actually paying back an additional percentage. Because banks create this money using the fractional reserve scheme, everyone is paying for this money creation. The way out of this mess is education. I believe that no one should run for office, no one should vote until they fully understand how money comes into existence. Not just the base money supply, but the M1, M2, M3 money supply.

peacefulwarrior said...

For those in Canada/US Check out

We've been had and its time we took back our power and reclaimed our dignity from those who want us enslaved!
check out also a great free e-book by Mary Croft on your search engine and get enlightened! We can use spiritual economics to break free by knowing who we are! The commerce game is rigged and by getting out of it we are free from the Powers that control our lives.

Turd Sandwhich said...

I dont really plan on paying a 1 of mine back for sure, those people made it so hard for me to ever pay the card payments. And the interest was so High. So fuck uhm, and credit cards in general, never going to use credit cards every again.

Anonymous said...


Marks Spencer said...

It happens to just about anyone these days - no matter how regular a life they live. They think they're managing their finances just fine until one day, they realize that they have $20,000 in credit card debt and no way to make even the minimum payments. When things get rather out of hand, your credit card company will usually schedule for you a free debt counseling session where they run all your options by you.

No Debt said...

Way ahead of you here. I defaulted on my credit twice. Not because I could not pay it back, but because this was my way revenge on the banks. By the way - I do not pay taxes ether - for the same reason. The government and banks are in it together to screw everyone and kill millions of people with unjust wars. I will not participate in that kind of society.

Clinton Waller said...

not sure about this advice

choosing to ignore your debts enters you into the court system as a loser by default, which can add to your total indebted balance, cause you to have your assets seized, lock you out of ever owning a car or a home, make it difficult to travel (try renting a car or hotel room without a credit card these days), deny you a cell phone, deny you access to electricity, natural gas, cable, internet, etc.

can you really live off the grid the rest of your life?
are you really ready to get pulverized by the legal machine?

i took a good hard glare at this option, and went back to paying my debts. i did, however, cancel all but one of my credit cards.

Anonymous said...

Not me. I've been living semi-'off the grid' for years. No bank account, no credit cards. If I can't afford to pay cash for it - I don't buy it. Personal choice.

Anonymous said...

If I understand correctly a contract/agreement MUST have two (2) signatures to be legal/lawful.
I don't believe you can get a CC bank to give you a copy of the agreement/contract with two (2) signatures on it, yours and theirs. Why not ???
(FRAUD has no statute of limitation I understand.) What is credit ? They lent you credit. Do you pay them back with credit ? Some one better take a closer look at things, and don't assume anything !
It is written: "for lack of knowledge my people are DESTROYED". WISE UP, wake up.

Anonymous said...

So let me get this straight.

1. Ask someone if you can borrow some of their money.
2. They let you borrow some money.
3. You never pay it back.

And then you complain about how *they're* the bad guy? You're the morally correct one? What a bizarro world I've stumbled onto.

Trav said...

if you get a loan from a bank the money didnt exist until you created it by getting the loan. the people are the creditors really because without the person initiating the loan the credit would never exist. the bank needs the people to be materialistic consumers who live above their means. GW bush said after 9/11......"go shopping" lol. No debt here, no CC here, stuck with bank account because customers write me checks. working on way out of that currently

Anonymous said...

If I wrote $10000 on a napkin and told you it was real money and made you pay me back with real money, would you?

Anonymous said...

Usury is a sin...

Anonymous said...

if you show up in court.... then what happens ?
any imput here on this ?

I too am sick and tired of the credit card game and am appauld of the amount they made on me in finnance charges thru the years ... and they still want more !! and then they tell you the worst thing you can do is nothing, and then tell you to set up an auto pay from your bank account ... to pay them what ? money you don't have ...

I have refused to pay my credit card payments.... wow .. I can buy food and auto fuel now ... and pay the important bills ... rent .. electric ... car payment on time ...

Anonymous said...

When I was growing up, my parents taught self-responsibility and how to use money, along with honesty and trust and other good moral behavior. As an adult, almost half a century old, I hold to those values. I still have never paid interest on a credit card, though I've always used one. While working as a civil servant for twenty years (now retired), making functional minimum wage, I managed to provide free room & board to a woman and her children as she spent the six years getting her college degree and settled in a job, I paid off my thirty year mortgage in eight years, I paid off a five year car loan in four years, I renovated my house, and I saved/invested approximately $350,000 (much of which was used by the banks to make loans to financially irresponsible people who can not imagine where the money for loans comes from).
Though I have not read all of the comments here, the ones I did read seem to imply a serious lack of self-responsibility along with deep desires to justify immoral and criminal behavior...not to mention a profound ignorance toward the facts of life. We can all share in a deep and justified hatred for bankers and politicians. But, if we want to make things more fair in the world, then we have to start by taking responsibility for our own actions. Teach our children to be financially responsible. Don't buy houses, cars, televisions, cable services, cellphones, pc's, games, vacations, etc. that are outside of the buy-as-you-go budget. And, just as important, don't blame everyone else when you find yourself in financial straits. As a final thought: You can never be angry enough toward someone else, or sympathetic enough, to make yourself happy. Therefore, look inward for success; and, let all the other stuff serve as tools in achieving your goals. (Thodeas)

Anonymous said...

Wow what an interesting article. I've read all the comments and well, thanks, your input has helped organized my thoughts.

1) Leaving morals and the big picture out of it. On a personal level, If I do not pay my debt, can They break me?
*I don't want to move out of the city to an off-grid lifestyle BUT I also do not wish to to ever own my own house or car. Just rent.

I am only 21 and would love your factual opinions. Seems like the government is dangerous to play with no matter who is in the right.

Anonymous said...

I bailed on my credit cards... I refuse to play the banks game and participate in the economic fruad. There is not much they can do it you don't owe enough for anyone card to sue. Even if they do sue what can they really get? Bankruptcy is a crock default is better, since in 7 years you are clear and don't have to say you filed bankruptcy to any lending institution in the future. What do you gain from bankruptcy except the fleecing of what ever you have left. Buy gold and silver to hold your maintain your wealth

Anonymous said...

To the anonymous commenter who said "I paid off my thirty year mortgage in eight years, I paid off a five year car loan in four years, I renovated my house, and I saved/invested approximately $350,000"
Tell me how someone who makes minimum wage does all that..
Explain that in detail so I can go share that with the ladies at McDonalds!!!
I as a child of GOD would like to give those ladies the same opportunity you had...
How exactly did you manage all that..not everyone can get a postal job, or a warehouse job. Someone has to cook your hamburger...

Of course you are probably like the average rich man who will not disclose the methods behind your small fortune because you are selfish.
Let's see now in today's terms.
Let's use a Wage of $9/hr x 40 hrs $360 wk gross, minus social security tax, medicare tax, income tax may net one $260...$260 x 52 weeks = $13520...
Rent $9600 yr leaves $3920. Who can live on that?
Anyone who has a roommate who pays partial, and eats noodles, and rides the bus..?
Come on dude..tell the truth the whole truth.
I know of a 80 yr old man who worked for 3 times minimum wage and barely got by with a family..
"free room & board to a woman and her children"
So a little was added to your water bill and electric..did you feed them too?
Tell us almighty one how you did that..or are you too almighty to share the details.

You wanna talk about "immoral and criminal behavior"
How about the charge cards sending you offers daily in multiples of 3 at a time to susceptible and vulnerable college kids that say "here spend me for nothing."
Why do you think they put fine print...because they know the average Joe never reads fine print. They are out to intentionally deceive because they LEARNED human nature and JOE did not. They are criminals out to trick you from the get go. Some take the bait some do not..
They thrive on un-educated, un-learned people..don't you dare act like it's totally our fault.

Why are you hoarding $350,000 ???????????
Your checks will not stop coming...why do you need all that extra?
Because you are a greedy bastard that's why.

Blame GOD for that. Don't punish the less fortunate telling them they are not to equally enjoy the same things a rich man can enjoy.
GOD formed not just one type of animal. Not just one type of man. he made it so all are unique. He would expect everyone to be able to enjoy his world that he gave to you.
You don't even own the dirt under your house.
GOD does...yet he shared his dirt with you but you don't share your hoard?
Be thankful you were blessed with the skills to get a job brother...enjoy hell rich man.

Anonymous said...

It sure is nice how the psychopathic masters of usury got the law changed so that they wouldn't have to be put to death for doing what they do to their fellow Americans.

Anonymous said...


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