I’ve mentioned debt slavery a few times now throughout my blog posts, but I’ve never gone into detail about it. I think it is an important subject you should know about, since many in the developed world, keep themselves locked up in the never ending rat race without ever realizing that they’ve sealed their own fate.
Debt slavery is not hard to get into. As soon as we reach adulthood, the expected culture is to go to college and get hooked up to massive student loans. After that we are hit with a barage of credit cards. Then we have new reliable cars to pay for, and of course the life mortgage of buying a house. After all is said and done, and we have kids, we have locked ourselves into a never ending cycle of paycheck to paycheck debt repayments for the rest of our working lives. Our whole life flashes before us as we carry our debt balance from one month to the next, never really getting far ahead in life.
Of course, certain loans can be beneficial, but why does it seem mandatory that to ‘get ahead’ in life, we are required to take a loan out on everything we do?
It seems like this process of taking out loans, having more money printed, and then paying back to the same people who print our money, devalue it, and then expect us to pay back with interest, all seems like a bit of a scam. And that’s because it is. Eventually a debt based society will collapse in on itself.
In one of my previous articles I talk about the gold standard. Our standards of living slip when we print more money. A return to values will ensure that our money has value, and everything we buy will be worth more. Loans may become harder to obtain, but our money will have more value, so we will not have to become so indebted to buy everything.
Debt slavery is a plague upon society, it helps to frame the farm that we live in, and keep us all in bondage. The only good thing about it, is that it is optional. The bad thing is, that so many people take the option to carry it. Personally, I will be debt free at the end of the year, and I plan never to return to it. I’d rather live out on the street and be free, than carry debt like a slave from month to month, paycheck to paycheck.