are some ridiculous TV signup no credit card no you didn't have to get the credit card sound like great andcan get a credit card in a house sosign up for itsigned up for it and a month latergot a credit card a m 2000 dollar send Michael it was you know 500 beforedid this Sony watch the video do it yourself and it knocks self out alright people out there who are fighting yourself not able to pay your credit card debt butgot in the mail here is a company that says ifgo to them it can get me out of this credit card debts they can settle this debt for me well nowwant to listen to me becausedo not want you to do that you can do something on your own that will cost you a lot less listen up when you go to a debt settlement company what they do is they have you not pay your credit cards for a long. Of time now thats not a big deal because you re not paying your credit cards but you take whatever money you can you give it to them so they save it for you you usually have to pay them $700,000 upfront they've been finally make a settlement with the credit card company usually for 40 50 60 cents on the dollar whatever they settle for you then have to also pay them a percentage so they make money that way you've settled with the credit card company and you're off and running every buddy when you don't have money $7,800 upfront is a lot of money it's more money than you have number one number to the credit card companies are willing to settle with you directly to the right now and it shows a clip from zeitgeist to come to show you how to paint the Fed Reserve works better understand about that and I'll go back to Suze Orman in the second finisher skill up and you can get it right this is howdid whatdid now you can do it you do it never works out paid you get paid when you get your credit card back you don't you don't have to be stuck in a****** all the time and everything's beautiful again by number of years ago the Central Bank of the United States the Federal Reserve produced a document entitled of modern money mechanics this publication details of the institutionalize practice money creation as utilized by the Federal Reserve in the web of global commercial banks it supports on the opening page the document states its objective the purpose of this the exchange is complete the government didn't take the 10 million in Federal Reserve notes and deposited into a bank account and upon deposit paper notes officially become legal tender money adding 10 billion to us money and there it is 10 billion in new money has been created now government bonds are by design instruments of debt and when the Fed purchases responds with money is essentially created out of thin air the government is actually promising to pay back that money to the Fed in other words the money was created out of debt service changes been made and now 10 billion dollars sits in a commercial bank account here is where it's really interesting for is based on the fractional reserve practice that 10 billion dollar deposit instantly becomes part of the bank's reserves Justice all deposits due and regarding reserve requirements as stated in modern money mechanics a bank must maintain legally required reserves equal to a percentage of its deposits if/then quantifies this by stating under current regulations the reserve requirement against the most transaction accounts he's 10% this means that was a 10 billion dollar deposit 10% of 1 billion is held as the required reserve while the other nine billion is considered an excessive Reserve and can be used as a basis for new loans now it is logical to assume that this 9 billion is literally coming out of the existing 10 billion dollar deposit however this is actually not kiss what really happened is that the nine billion is simply created out of thin air on top of the existing 10 billion dollar deposit this is how the money supply expand as stated in modern money mechanics of course they the banks do not really pay out loans for the money they receive is deposits if they did this no additional money would be created what they do when they make loans is to accept promissory notes loan contracts in exchange for credits money the borrowers transaction accounts in other words the nine billion can be created out of nothing simply because there is a demand for such a loan and that there is a 10 billion dollar deposit to satisfy the reserve requirements now let's assume that somebody walks into this bank in Barro's the newly available now I am doing dollars they will most likely take that money and deposited into their own bank account the process then repeats for that deposit becomes part of the bank's reserves 10% isolated and inter deficit built into the system caused by the need to pay the interest what this also means is that mathematically faults in bankruptcy or literally built into the system and there will always be poor pockets of society that get the short end of the stick an analogy would be a game of musical chairs for once the music stops somebody left out to dry and that's the point so if you find that you are in a situation where you are already behind its already been charged off warts gone to a collection agency worth about two if you do have some money let's say you are $17,000 $24,000 to some credit card company that's now in collections if you have six thousand seven thousand dollars don't be surprised if you called the collection agency directly settle with you of course they will they rather get something rather than nothing so it is very very important to understand you have what it takes to do this on your own if you do do it on your own I want you to follow these steps if you make a settlement you are not to pay that settlement with a check from your personal bank account do you understand either a cashier's check or money order I do not want these companies to know your bank that you happen to be baking with the check you are to write if this check is cashed that makes this how to put your account number settled in full number to when you do that you are too also ask them if you are to settle this debt you want it to appear on your credit report that this debt is paid in full you do not want the words settled you want paid in full because if the credit report says settled future creditors will know that this is an account that you obviously settled on and that therefore you are a high risk so you don't want that to happen next if you are settling a deck yourself with a collection agency that purchased at dad for the original creditor you also want to know that the original creditor can never come back at you for the difference of what you settled and what you originally o2 you need to get all of that in writing and last but not least you need to understand that it is possible that you will owe income taxes on the amount of money you settled for me original amount of money that you owe to let's say you owed $20,000 you settled for 7000 it's possible that you could thirteen thousand dollar difference there for you should always ask the collection agency to please state that you will not auto taxes on that money won't stay that also understand that if you are is solvent which means you owe more than what you have technically the IRS is not going to make you pay taxes on it so check it all out so you don't spend money that you don't have if you do all that you don't need one of these debt settlement companies and it will save you a lot of money so that's it in a nutshell take with it what you want I'm telling you that it did work for me and I've done it about three times that with me and my wife passed the high interest loans offered by the European banks and decided to do with the founding fathers advocated was to create an independent and inherently debt free currency it was called the greenback shortly after this measure was taken and internal document circulated between private British and American banking interest stated slavery is but the only have labor and carries with it the care of labourers while the European plan is that capital shall control labor by controlling wages this can be done by controlling the money it will not do to allow the greenback as we cannot control them
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