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MORAL ARMOR'S Economic Warning for
Americans |
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by: Ronald E
Springer |
Copyright 2005 Ronald E
Springer
For years we’ve suffered under recession, prompting
us to ask, When will it end? My answer is, “It’s only the
beginning.”
Historically, recessions are the result of high
interest rates, pushed up as the result of loose money policies.
Recovery comes when citizens begin to spend more wisely, save money
and pay off their debts, but not this time. Never before have credit
policies been so loose for so long, and there has been no decrease
in consumer debt. It’s still on the rise, but Americans are NOT
fundamentally to blame; immoral monetary policy is.
Banks
used to consider a safe loan applicant to have a 36% or less Debt to
Income Ratio (debt divided by gross income). This percentage is a
time-proven figure indicating the financial health of an individual.
Now, during the worst economy in twenty years and with no signs of
recovery, our banks gladly loan to applicants with a 56% Debt to
Income. What has changed? Are banks suddenly more generous? I don’t
think so. One good question to ask is, Why are banks willing to
accept the additional risk? But the real question to ask is, Where
is this money coming from?
Not one in a thousand Americans
knows the true nature of our banking system, so they have no idea
that what happened in 1929 is about to happen again. Nor do they
know that it was done deliberately then, and is being done
deliberately now.
We have in this country one of the most
corrupt institutions known to Man, and I refer to the Federal
Reserve. Since it’s inception in 1913, every dollar created has
interest being paid on it as if it were borrowed. This debt cannot
be extinguished without destroying the currency itself, and has
spawned a nightmare of debt that presently amounts to over $360
Billion in interest paid per year, accounting for half the personal
income tax of the nation. Due to this, America is forced to create
$7 Billion daily to cover the $1 Billion it pays in interest daily
due to the Federal Reserve System. This is where the public comes
in.
Federal Reserve bankers have to find a way to spend $6
Billion every day while masking the inflation it causes. Throughout
the nineties it was done through real estate and the stock market.
Now it is almost exclusively being put into real estate. How on
Earth could so many mortgage companies be offering interest only, no
money down, multi-hundred thousand or million dollar loans with high
applicant debt ratios?
Here is a hypothetical example of
what’s going to happen: Your mortgage banker tells you that with a
56% debt ratio, you can afford a $300,000 home, no money down. You
secure the loan at 4%, costing $1432 per month. A few years later,
you’re thrown out of work for three months. Back payments amount to
$4296 plus late fees, legal fees, etc., and another $5k on cars,
credit cards and everything else. Unable to catch up, you’ll try to
refinance, but interest rates have moved up to 7%. A $310,000 loan
now costs $2062 per month—more than you can afford, but banks will
have tightened lending policies back to 36% and you no longer
qualify for the home you own anyway. Accounting for all other debt,
you now qualify for a shocking $360 per month. You are trapped, and
the new bankruptcy laws they pushed for will never let you walk
away.
You owned this home in a perfect numbers scenario, but
any complications—unemployment, salary reduction, interest rate
increase, debt ratio change, bruised credit rating, depressed home
values--and you’re cooked. One mishap and every financial measure
works against you. Your financial angel has suddenly become your
greatest enemy. Welcome to the Federal Reserve System and their
freshly engineered worldwide depression.
If you were to
approach the housing market fresh, you would find that you only
qualify for a $55k house now, along with the market of buyers you
were hoping to unload your balloon-house on. The bank forecloses,
auctions it off and you’re personally responsible for the
difference, which could be massive. Bankruptcy is right around the
corner, and deplorably, you are the only one who will be held
accountable. You will then be a debt slave as the Federal Reserve
intends, and game over.
My advice is to get as financially
stable as you can. Mathematically, our situation is much worse than
that of the Great Depression. No matter how generous these bankers
appear, pare down monthly outlays to 36% D/I or less. Set aside
three to six months of mortgage payments in case you become
unemployed. Make sure you can ride out the storm.
We are
coming to a point in American society to where it’s either them or
us, and mass awareness is the key to our survival. Most believe the
Federal Reserve is a part of the government, but it’s just a name.
The Fed is a private corporation set up for private gain, with a
dark history of stock market crashes, financial panics, political
manipulation and ultimately, mass poverty and hunger riots. Our
struggle is not new: currency control has switched from public to
private hands EIGHT times since our country’s inception, and needs
to be reclaimed by the people, one last time.
Don’t think you
can play helpless and expect our political leaders to protect you
from financial calamity; they never have. You must become Morally
Armed on your own. Don’t be coaxed into believing the system is
optimized for the good of all. The Federal Reserve System is not an
equitable institution, and it was never intended to be. They believe
if they have us strung out on debt, we are no threat to them. Let us
prove otherwise.
Currency reform is the most important issue
facing Americans today. How it plays out will determine whether you
and your children eat or not, whether you have a place to live or
even a future to look forward to. The major media will ridicule
anyone speaking against the Fed, so to validate history’s greatest
moral dilemma for yourself, just google “Jackson bank veto.”
America must abolish the Federal Reserve System to regain
control over the economy and our government. For a concise history
of world monetary policy and how it shapes world events, see Moral
Armor. Then share this knowledge with your friends. Email this
article to everyone in your address book and stay tuned for further
developments. We’ll change the system together and bring a brighter
dawn to Mankind.
About the author:
Ronald E. Springer
is the Author/Philosopher of Moral Armor, the world's first
fully-integrated moral philosophy based on the nature of Man.
Featured on The Mitch Albom Show, NBC and FOX News radio affiliates,
Mr. Springer is available for interviews, speaking engagements,
philosophy workshops and seminars. Please contact
RonaldESpringer@MoralArmor.com or visit www.MoralArmor.comfor details.
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