The biggest obstable is our minds. We have been trained to think a certain way about debt and credit. Most of us have a distorted picture of what debt and credit really are. The financial institutions are literally banking on this distorted picture. Credit is simply your financial ability to obtain the currency of the 21st century. Debt is the ”goods” purchased with this new currency. We are mislead in thinking that I purchased a car on credit. What you really did was take your currency and purchased debt. The car is not yours. The debt is yours. The sticker price on the car was $20,000. The price of the debt was $26,000 using your 21st century currency. You get to keep the car once you have replaced the currency used to purchase the debt.
Filed under: Credit, Debt Elimination | Tagged: Credit, currency, debt
