As most citizens have already noted, our economy is in shambles. Our government owes 2 ½ trillion dollars, conservatively, to China alone. The average American is $8000 in debt to credit card companies, and 43% of us spend more than we make each year.
If every working person in the US was forced to make payments towards our national debt, we would all pay in excess of $600 per month in order to pay it off in 15 years.
Proverbs 22:7
“The rich rules over the poor, and the borrower is the slave of the lender.”
Does being in debt make us slaves? Yes, both on an individual basis, and as a nation.
By implication, a nation state that is beholden to another in order to pay the bills must necessarily adapt a different foreign policy than one without debt. Additionally, the lender takes on a position of authority over the state which is borrowing. Because the lender has made an investment, they have a keen interest in the internal politics, policies, laws, and the monetary decisions of the borrowing nation. This is especially true when a powerful and militarized country is the lender.
An indebted state can never be truly free.
The Parasite :
A powerful nation that is owed money could easily invade the borrower, seize all assets equaling the amount owed, and in so doing satisfy the debt. However, this is not profitable.
Imagine a tapeworm. Does this tapeworm attempt to kill the host? No. It feeds off of them for a long period of time, stealing nutrients away at a slow pace. Why? Because if it siphoned off too many nutrients it would kill the host, and then would itself promptly die. It is better for the parasite to take small amounts over a long period of time, than to take large amounts of nutrients over a short period of time.
This is also true in regards to debt. The lender stands to gain more money over a protracted period of time, if it can keep you in long term debt. It is in their best interest.
Likewise, a lending nation is more profitable if it can keep the borrowing nation indebted, preferably over many generations. This guarantees an economically enslaved state that is not only indebted, but also malleable when threatened with not being allowed to borrow further.
The Drug Dealer:
A nation, once indebted, considers borrowed money as part of that nation’s budget. When this occurs, the populace will revolt if any austerity measures are taken in order to lessen the debt. Because of this, nations simply pile on more debt in order to appear strong, and to appease the citizenry.
Consider a drug dealer. They will often offer up their illicit substances for free a few times in order that a person become addicted. After addiction has occurred, the drug dealer will start charging, knowing that the buyer is now enslaved to the drug, and will do almost anything to be able to pay for it. The addicted person has now become guaranteed income for the dealer.
After addiction, the drug becomes part of that person’s body chemistry. The body needs it to function. If a person attempts to deprive the body of this drug, the body will revolt by entering into a phase of withdrawal. Not wishing to experience the pain and torture of the withdrawal, the addict will often return to using the drug.
This is just like cheap and abundant credit. This is why you see credit card advertisements for “ 0% APR” or “No Payments For 12 Months!”. They want you to become addicted, enjoy the life lived outside of your means, and for you to offer up payments for the rest of your life. This is all done to your detriment and to their betterment.
Credit is the drug, and borrowing the disease.
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