The following is Part 2 of a 6 Part Series on

Getting Out of Debt

Presented by the Consumer Defense Corporation


Which is best for me?

How about Debt Elimination?

That term was popular until as recently as a couple of years ago. Buy some set of documents on line, fight the banks in court, and prove to the court that the banks never loaned you any money, that they created money out of thin air, and that it’s all smoke and mirrors. Bring up the Mandrake Mechanism, quote from Modern Money Mechanics… OK, so the arguments are sound.

In fact, they’re totally correct. There’s only one problem. It won’t fly in court. There’s not a judge in the country who is strong enough to bring down the banking system. And that’s what this set of arguments tries to do.

I’ve seen people really get worked up over these points. It sadly reminds me of arguments from the 70’s and 80’s when people argued that legalizing and heavily taxing pot would be good for the economy. The arguments were solid, but the logic failed.

On the internet today there are hundreds of companies still pushing ideas and programs that stopped working years ago. Debt elimination not only doesn’t work, it has a bad reputation as being a scam that it is

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