"Redeeming" Credit

[David Merrill]

Originally Posted by David Merrill

I find it convoluted in the world of credit card and identity theft that companies are finding credit cards more secure? ANSWER: It is an insurance scam.

Having a name and an SSN associated with the card allows them at least to develop the card as an unsecured (i.e. secured by no particular thing but but everything of the person) credit card as if they actually lent something. It seems rather silly to ask for SSN's and other information for prepaid debit cards when the FRNs in the system are already underwritten by assets.It might also be helpful to consider that the notion of separation between the world of bankers and that of actuaries might only be mythical and misleading. Actuaries might be "king" rather than serf.


Yes! Search out "debit card" here and you will find my experiences a couple years back with VISA. I have phone recordings showing how they would finally relent that I did not owe them a SSN for a debit card. But certainly so if I wanted any credit.

That is an eye-opener how all credit goes back to social security as an insurance policy.

Originally Posted by David Merrill

However I might insist on more honest currency, at least a little bit.

Perhaps through knowledge and application of knowledge we have the power to make that happen with or without Congress.

Trebilcock v. Wilson comes to mind. If you can insist that legal tender is enforceable then the converse is that nobody can refuse legal tender.

[David Merrill]

I'm just thinking in the echo chamber.

Great post but I really like your insight. Even though you are not a suitor you understand what a great well of knowledge we have going in brain trust. We build as we go.

This article has shown me a lot, especially about how Canada performed shock testing for 50 years prior to Congress forming the elastic currency here in 1913. The Crown Dominion Notes are for all intents and purposes your current Bank of Canada notes. Your central bank has been dealing in reserve banking and fractional lending so long you probably have no sense of it in the academic teachings as being criminal syndicalism.

I noted your other post about the non-endorsement stamping. I will address that there.

[amosfella]

I read that article before. It's basically what I read about in a book called "Tragedy and Hope".
I was reading about the British history of fractional reserve banking, and how Barclays (?) began the fractional reserve process that was used to build the British empire in the 1600s. According to the book, the had core gold holdings, and then they issued pledges 10x the amount of gold that they had in the reserves. After that, they issued more paper that was redeemable in gold certificates only to the tune of 10X the amount of the gold certificates issued. They effectively multiplied their gold reserves for pay of soldiers and other military items by 100X what a strict gold standard would have allowed them to build. Their ability to beat the French and Spanish in wars was built around this as was their wars of conquest that made it possible to way "The sun never sets on the British Empire."

[David Merrill]

Yes. I doubt Congress will do anything. I watched Ronald Ernest PAUL try three times and all he got were a few colorful labels.

Amosfella;

I heard a great quote from Deepok CHOPRA - If you like material things, teach others to be prosperous.

[amosfella]

"Without recourse" looks like it would be handy to put on the back of a check that the payee is afraid might bounce. It looks like it would make the bank liable to collect on it, rather than clawing back funds from the payee....

[amosfella]

If what you're trying to do is hold oneself ataint, one could set up a company, and get the company to handle the credit cards in your place... As your agent. Was a technique taught by a group that were using common law trusts...

[allodial]

Also when you give billing information you indict yourself. So the credit card is the situation where you must provide the billing information, not the debit card.

Perhaps they need confession of being in a corporate venue where they can charge you twice and get way with it?

[Moxie]

Very true. However a lot of times you will be conditioned to bill yourself; as in bill of indictment. Did you give any billing information with your debit card?

What's the worst that can happen?

[David Merrill]

By giving the Information, against yourself you are identified in the same manner as if you are carrying a credit card. Overall, the metaphysics is quite astounding, but you might just tend to fit in with the crowd; and therefore not notice a thing. Everybody is in debt who is conditioned to think that debt is money.

[Moxie]

By giving the Information, against yourself you are identified in the same manner as if you are carrying a credit card. Overall, the metaphysics is quite astounding, but you might just tend to fit in with the crowd; and therefore not notice a thing. Everybody is in debt who is conditioned to think that debt is money.

What about when men/women fill out a W-4 or other gov form with an employer and fill it out correctly so as to be employable and not rock the boat with HR? Seems like the same type of information is being revealed there too. This is what I don't get. Any stories about what monsters come out when this happens?

Plus I thought this ID info was for the monopoly game piece name used in commerce, in the two-dimensional world, not the actual man or woman.

[David Merrill]

I prefer to stick with the basic truth.

It became so I dread the 45-minute phone calls in order to use my debit card funds without Information. I have to convince an attorney at VISA that since I have already paid for the card funds - debit card - and VISA is not extending me any credit, I do not owe VISA anything, even credit information.

[selenahill21]

Thanks for the helpful information. For those credit card users, I have always had a single recommendation. The PenFed Promise has become the credit card for people who hate banks besides, it is a rarity among charge cards. How so? Try its no-fee structure, for starters. If you or a member of your household is a member of the U.S. armed forces or affiliated group, you are eligible to join Pentagon Federal Credit Union and make an application for the card.

[David Merrill]

Welcome Selena; Thanks for that kind of insight.

This is a long shot, but in context of the post above it would be inspirational to get a PFC debit card without giving information.