Why Pay Down Debt ?

1) keep credit cards paid off (you can maintain a very high credit rating - actually even w/o a credit card.
2) if you use credit card, never go above 30% of the credit card limit
3) if you are buying a home, take a 30 yr. mortgage as you are paying off that debt with inflated dollars and so you can have more money today (opposite of what banks and financial planners tell you. Even do an interest only loan, if you feel secure in this decision - all tax deductible!
4) auto insurance and homeowners should be on the same policy with an umbrella policy (contact your carrier to discuss)
5) take $1000 deductible to decrease your auto premiums drastically - How may times, if there is a small accident, do we pay for it ourselves anyway because 'we don't want our premiums to increase" For those who live in fear, put the $ saved in a separate savings account to utilize, if necessary - you'll save hundreds of dollars
6) I got out of the stock market because it is gambling and I don't choose to gamble with my money. Plus, when it goes down, it takes years just to recover from that loss. You never really get ahead, unless you do this for a living.
Invest in your future with assets and privately.
7) buy (large and small) canned food in bulk and store (this is noted in the Bible too) not only for yourself, but so you can help others. Be sure to rotate this stock and put dates on the cans. The more you help others the more you get in return - unintended consequences, so to speak. Also, storing bulk water is good idea (can buy large containers and rotate this also)

I PAID my Estate Engineering advisers for the following information I am providing out of concern for my fellow human beings and supporters of Freedom. For more insight on FINANCES, go to www.leapsystem.com. The things "THEY" the ordinary financial advisers tell you are bogus (to keep you in financial bondage). Read everything there, can also buy the book, 'LEAP, The Key to Financial Success" by Robert Castiglione.
(Lifetime Economic Acceleration Process)

Another GREAT book which dispels the financial myths with which we were trained, taught, and educated is "KILLING SACRED COWS" by Garrett Gunderson and Steve Palmer.

I PROMISE you, that with a little reading, you will reap HUGE rewards on your road to financial freedom, security, and prosperity!

When you are in debt you are a slave to the debtors.

At a minimum you must own your house, car, and have living expenses for several years in liquid assets / cash.

They will repo your stuff or take you into recievership.

Besides, it is an integrity issue. Borrowing without the plan of repaying is THEFT. Theives and liars never prosper. Subconsciously they know they don't deserve it and end up punishing themselves. This is the road to misery.

True prosperity is being able to look yourself in the mirror.
Be a person of integrity...

but it will not benefit the country. i have children to think about what country we will leave them.

or later? A lot of people in our neighborhood are trying to sell their houses without much luck. Frankly, because they are trying to sell at the market high prices. They keep them high because like most Americans they think this is temporary and don't see the impending collapse. My husband and I go back in forth on when would be the best time to sell.

Get so fat?

"I have found an honest man."

Diogenes of Sinope

Debt has to be paid and the destruction of paper is a very slow process. That is why some call it invisible. But it slowly destroys jobs and income.

Without a job you will have to create more debt to feed the monster.

That is what is happening to debt created companies as Countrywide.

Debt is alive while gold is not. Debt needs to be paid while gold yields no income.

Like holding a rental property (real Asset)
without a tenant (Income)
using debt (mortgage)

Not vey smart.

Good debt and bad debt. But there is no such thing as good debt and bad debt, so the pop-economist mentality must be dropped.

Let's start by breaking it down into those terms though so we have a common point of reference.

Bad debt - Debt used to acquire assets which are guaranteed to depreciate *AT ALL*.

Good debt - Debt used to acquire assets which are guaranteed to appreciate at a greater rate than the interest applied to the debt.

Do you see fallacy of the term "good debt" yet? It should be obvious, if you could guarantee a rate of return, greater than interest acquired, you would have found the holy grail of investing. It does not exist.

In addition, the term investment is a mis-statement in most cases. It is a legalized form of gambling in 99% of the cases.

Even the purchase of gold as an investment is a gamble. Purchasing gold as wealth preservation and hedge against inflation is 100% valid. Gold will always have SOME value. But if you are gambling on it increasing by greater than 10% in order to make cash on margined investment than you are still playing the fools game even if a little more intelligently.

Get out of debt, buy gold and silver and whatever other hard commodity that you like, but to attempt to "invest" by creating "good debt" is a dangerous thing to do at any time, but especially now.

Suppose you buy gold, and The Money Masters (plug) decide that gold is getting too high and so open up supply thereby devalueing your stockpile, what will you pay your debt off with?

Fiscal bankruptcy and moral bankruptcy go hand in hand. The two cannot be logically separated, except in the case where someone was doing everything right but got blindsided by force majeure (an "act of God"). With that one notable exception, fiscal bankruptcy is preceded by moral bankruptcy, especially when we are talking about an entire society. So, it is extremely important to think in terms of proper morality. Going into debt when it can be avoided is immoral.

Also, as a practical matter, you could end up outfoxing yourself because you can't know precisely the timing of any currency crash, or the degree of any currency crash, and there is even the possibility that things might move in the opposite direction first, and THEN crash. You could get hurt very badly during the phase where things are moving against you.

I have been both a goldbug and a Christian since 1980, and have always been big on emergency preparedness since I live in an area prone to serious earthquakes, so I have had plenty of opportunities to think about and act on matters just like what you are talking about now. Believe me, the absolute best thing that anyone can do to prepare for the possibility of an impending crisis is "get right with God" and strive to live morally, and being as free from debt as possible is a big part of that.

We would not be facing our present crisis if the majority of Americans thought along the lines I just outlined above . . . let's be part of the solution, not part of the problem!

This is the kind of info. we need to have going here...

educate

educate

educate

thank u