Comment: Simple?

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Don't borrow money you don't expect to repay.
With you so far... but things happen sometimes that you can't foresee. 'Expect' is the chink in that armor.

When you issue an IOU, you redeem it or you are a liar.
Agreed 100%. But when someone comes to you and says "You owed Mike money but Mike lost your debt in a card game to Milt, then Milt sold your debt to Ed. Ed turned it over to Bernie cause he owed Bernie already and then Bernie unloaded it on me rather than I break his legs..." and has no proof of anything he says...are you obliged to pay him? Simple?

When you buy something, don't commit fraud by withholding payment.
That's not what anyone is talking about here. However, if you cannot prove the debt, do I have the obligation to pay it?

If you find yourself unable to fulfill your commitment, the bankruptcy provision is available, but be aware of the consequences.
Yes that's true but you would think a lender would be aware of the market and work with mortgagees in order to keep them solvent -and paying- rather than just taking the property and flooding the market with thousands of foreclosed houses.

How in the world can people who believe in freedom from government be comfortable with schemes to defraud others of payment of debt?
It's the 'schemes to defraud others' that we are discussing. You are only focusing on the end-user:the homeowner/credit card user/borrower. The fraud exists on both sides of the fence.

We are supposedly showing the rest of the world how people can live together without government. How can we do that if we can't control our own affairs?
Living without the government would have solved most of this. The government plays favorites with the banking/credit industry and you know it. If you don't then you should get out a little more. As long as the cash kept flowing in, everything was great. When that stops, the lenders turn back to the government and scream "HELP US!"... and they do. That's all the little people are asking now. But there is no one listening. Not even you.

Pay off your credit card each month. If you can't do that, cut up the card.
Again, I agree 100%. Having said that, I am carrying a balance for the first time in my life since the construction industry is resting on it's ass right now. I work one week, then I'm off a week (or two). Shall I cut up my credit card and feed your valuable advice to my children?

I may not know the truth, but I know when I'm being lied to...