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They are Just Throwing Lines of Credit Out Like Candy.

Discussion in 'Central Banking & Fed Reserve' started by MIavatar, Apr 5, 2017.



  1. MIavatar

    MIavatar Seeker

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    So I just incorporated a c-corp. Almost all the banking institutions around these parts has given me an incentive of $200-500 to open up a business account. The stipulation is almost always to make 10-20 debit card purchases within a certain period. Then if I accept their lines of credit there's usually another $100 incentive on top of that.

    Is this a massive increase in the velocity of money and inflationary? Is this Trumps way to stimulate the economy? Where I live it definitely is in a deflationary spiral so I'm definitely tempted. Not bragging or anything cause I really just have small potatoes comparatively. As of now I'm almost completely debt free and live within my means but I also live in one of the poorest locations in the US.

    Just wondering if any one else is getting offers like this? Because it seems like an illusory way to inflate the economy for a short term until everyone starts defaulting on the debt. Is this the "roaring 20's" before the big one shortly?
     
  2. latemetal

    latemetal Platinum Bling Platinum Bling

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    I have a FICO in the low 800's, I get so many offers of low cost money, my shredder stays busy...What the hell is worth buying?
     
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  3. MIavatar

    MIavatar Seeker

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    City blocks around here lol. They gave my friend 4 Capital one cards in a month and he has terrible credit. He maxed every one of them out.
     
  4. MIavatar

    MIavatar Seeker

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    Just sayin it's convenient to establish a new entity and have an instant 5k+ line.
     
  5. TAEZZAR

    TAEZZAR LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH Midas Member Site Supporter

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    I have been getting these kind of offers for about two years. I have taken a couple of them. One in particular was when Costco terminated American Express.
    I was offered $300 to get a new CC, I did & now stopped using it. I am wondering if it will affect my credit score.
     
  6. the_shootist

    the_shootist I self identify as a black '69 Camaro Midas Member Site Supporter ++

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    My credit score is well into the 800's. You can imagine how far into debt I could get myself if I responded to just 10% of the offers sent to me. They all go in the trash! I've only borrowed what I've needed, nothing more. That how's you get 800 credit scores
     
  7. gnome

    gnome Gold Chaser Platinum Bling

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    How's the sub-prime auto loan bubble doing these days?
     
  8. Zed

    Zed Size doesn't count! Midas Member

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    No, money isn't moving and that is why it is being thrown at you.

    Velocity of M2, M1 & MZM have been imploding.

    https://fred.stlouisfed.org/series/M2V

    They can't lend the shit any more, no one can repay it, no one has a good investment for it... mind blowing ain't it! Useless money! No one is brave enough to invest or spend.

    https://www.armstrongeconomics.com/...y-the-quantity-of-money-theory-is-dead-wrong/
     
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  9. TAEZZAR

    TAEZZAR LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH Midas Member Site Supporter

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    My entire life, I have paid the monthly balance in full. The whole idea is to never carry a balance,
    the banksters hit you at about 27% when you carry a balance.
    Manage your income & live within it.
    I worked too hard to give it to the banksters.
    This is how I keep my score in the 800's.
     
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  10. Hystckndle

    Hystckndle Daguerreotype Fanatic Site Mgr Site Supporter ++

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    " Don' t fear the FICO " ,

    Its all brainwashing elitist tools for the masses.
    Use it against them when one can and within reason, which of course is subjective and argumentative.
    Signed:
    survivor of the attacks of the elitist goon squad JAG, jury, process servers, other deputies of the state and other thugs.

    ( more to say but i will keep quiet )


    All good :)
     
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  11. the_shootist

    the_shootist I self identify as a black '69 Camaro Midas Member Site Supporter ++

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    It's not, nor has it ever been rocket science for those of us who actually are fiscally responsible. We are in the minority my friend
     
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  12. TAEZZAR

    TAEZZAR LADY JUSTICE ISNT BLIND, SHES JUST AFRAID TO WATCH Midas Member Site Supporter

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    Also because we carry no debt at this time in our lives.
    A fiscally responsible person should be debt free at the point of retirement.
    It is actually easy. One simple rule, do not live beyond your income !!!
    Unfortunately, way too many people carry mortgages into retirement & that is why we see reverse mortgages.
    Another way the banksters fuck you out of you work credits!!!!
     
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  13. Hystckndle

    Hystckndle Daguerreotype Fanatic Site Mgr Site Supporter ++

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    Interesting stuff all of this.
    Life is a lottery of sorts the moment one is born.
    The existance of credit systems beyond all most could imagine just 100, 50, 20 years ago has made it even more so.
    It is destroying not only us but through us all in the world are suffering the effects of borrowing ahead of production and the results of it not even being tied to production.
    Only by educating yourself and discarding the shackles of the so called " norms " of our modern and progressive society can one be truly free and at peace.
    Trading " credit "...what a way of life.
    Good thread Mr Avatar.
     
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