Why do you think the credit score system prioritizes debt enslavement over financial stability?
Discussion
awful system, my credit score was ruined because of medical debt. i donāt have a credit card and only use cash. i canāt even get a credit card because of all the medical debt.
š And you canāt raise your credit score without credit cards. Awful.
:( i know, luckily my parents have had their house paid off since 2010, and have promised to hand it down to me when they move back to iran. if it wasnāt for that, i would have zero chance to own a home and be forced into rent slavery.
Credit score sucks,why am I being monitored by 3 credit companies without my consent.
Itās crazy.
Because I paid off my vehicle loan early and within 2 months my score dropped 30pts. That was 9 months ago and it hasnāt improved. That is fine, I canāt imagine needing any new credit for anything in my remaining years of lifeā¦
Drug dealers need drug addicts
Because debt slaves are easier to control, now be be a good little slave and pay 25% interest on your 1$ pack of chewing gum...
"Money printer go brrrrrrā is done via fractional reserve banking.
Every time a bell rings, an angel gets wings is a cute line from It's A Wonderful Life, but banks get a better deal.
Every time a loan is made, a bank get's new money created out of thin air.
The banks simply make more money on loans than they do on people parking their fiat it a savings account.
because credit is debt
Itās supposedly a measure of credit worthiness. If that is true, paying off debt should positively impact your credit score, but it doesnāt.
A fiscally conservative person who pays off their debt and doesn't take on more debt, destroys credit which puts deflationary pressure of the Fiat system. This is harmful for the current financial system, which relies on ever increasing amounts of credit(and therefore debt). The credit scoring system exists to identify economic actors who are capable of taking increasingly larger amounts of debt(without defaulting).
ie Keep you in debt
Enslave the goy.