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Written By Abdun Nur
Banking Credit Worthiness: Collateral Credit
The five C’s, or characteristics, of credit worthiness are:
Character – Your record of prompt and regular payment of bills and loans.
Capacity – Your ability to meet any loan obligations through determining average regular income.
Capital – Availability of stored liquid capital, or invested capital that can be recovered through transfer to meet obligations.
Conditions – Assessing the strength of a business, banks only loan money ideally when you do not need the loan.
Collateral – The assets of property held that can be seized and sold off to meet loan obligations. Assets used to guarantee or secure a loan.
Therefore bank credit is a model that allows small high interest loans for the poor, and huge low interest loans for the rich:
“A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain.” Robert Frost
Banking, is the most heavily regulated industry in the world. Regulations imposed by the agents of the corporations of government mafias, themselves controlled and owned by the bankers, create regulations to protect monopolies and increase banking profits, while the media whores owned by the bankers, create the illusion these same regulations prevent the criminality, monopolies and theft they were created to allow.
Some equate the agents of the banking mafia system, as packs of vultures devouring victim after victim, but a vulture tears at decay, cleaning the “Earth”, while bankers rip at the living until they are empty shells rotting in the sewer of society. Bankers (were the ‘B’ is pronounced as a ‘W’) revel at the visitation of every larceny, taking pleasure from the capitalization of torture, endured by each victim forced to descend into the living death of poverty, fuelling and maintaining the ever expanding decay known as, the “world”.
Inflation is a key element of the banking Mafia system, inflation halves the purchasing power of fiats on average every decade, this means for the poor, every decade their savings have halved in value, unless they give those savings to the banking Mafia to invest for them, where they may recover some of that loss. It also means for the poor, they must fight each year for a pay increase as their earnings in purchasing power are reduced by 10% a year, this allow earning to be steadily eroded, in the dark ages it took a man 13 weeks of the year to work in order to keep his family cared for, modern families struggle with both the man and the woman working full time.
Inflation is fantastic for the rich, the rich gain special interest rates, they have no savings, instead they buy physical assets, or investments, then they leverage these assets and investments against loans, they then invest the debt loans in assets and investments, and so on, this is why they pay no tax, they have no savings, they have only debt and assets.
This means every decade they owe half as much in purchasing power for the loans they took out a decade earlier, they have no tax liability and they have doubled the fiat value of all their assets and investments through the mechanism of inflation.
Advancing Cryptocurrency: Trust Based – Guarantor Advances Through Shared Risk, Infrastructure or Goods Advance or Surety Bond
The banking system requires a guarantee of repayment, and as explained they use track record of repayments, assets, and probability as their tools to determine who can get credit, how much they can get and at what interest rates.
Likewise the advancing cryptocurrency requires a guaranteed repayment, but it does not require a credit rating, assets or probability to allow advance to be gained, and it does not cost any fees or interest to establish or repay. Instead it uses three basic guarantees:
Shared risk – A need bond is either created or joined on the bonding platform, the bond has a set amount as determined by the initiators of the bond, and a repayment period again determined at the outset.
An advancing bond shares the risk of instalment payment failure proportionately to advance, each advance guarantees repayment of all others within the bond. If for example 1000 people are in the advancing bond, and the bond collectively has advanced 250,000 Cryptocurrency, a
Infrastructure – Equipment – Stock/goods Advance –
