Thread by @bradmillscan

True or false: When you spent $5,000 with your credit card, the money that the merchant receives is created out of thin air by the bank, not sent to the merchant from reserves of dollars that the bank holds?

True or false: If you are unable to pay your $5000 credit card bill, and debt collection thugs start to harass you, you must pay otherwise the bank can garnish your wages & you can go to jail?

True or False: If your signature on the loan documents is what authorizes the creation of the $5,000 in the first place, aren't you actually creating the money?

True or False: If the money doesn't exist in the bank's reserves before you spend it, and you are willing the money into existence, banks are committing usury fraud by charging you 20% interest on money they didn't even lend you?

True or False: Fuck banks, Buy Bitcoin

True or False: Banks write off their unpaid credit card debt and sell it to collection thugs for pennies on the dollar because the money didn't exist in the first place, so there is no loss when you don't pay.

True or False: the main reasons people pay their credit card bills are:

1) doing the right thing
2) don't want bad credit
3) afraid of collections

Someone Help me understand how this works 🤯