Population pledges their life savings as a consequence of using credit money.
Legally, they become creditors instead of shareholders to the wealth collateral backing the credit system.
This means that when that system becomes insolvent, collateral must be delivered in order to settle liabilities.
Sheeple are pledging their own wealth, legally making themselves debt slaves.
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The collateral gets transferred from creditors (the population) to shareholders (the ruling class) in order that debt forgiveness might be permissible.
Beyond the collateral, the new system needs to provide better rights and gaurnatees to the shareholders at the expense of creditors in order to secure their business.
Serfdom.