The debt system created and founded in Europe, started with priest who were also bankers. They kept track of deposits and they loaned money for an interest and never had to pay interest on deposits. They were involved in currency exchange and currency validation. They could also forgive a debt in its entirety.
You can make an argument, that the Europeans created the first debt system with the black race on a global level. Slave labor, was created for the territories of North America conquered by the Spanish, Dutch, Portuguese, British, and French. Before the 1500’s, depending on the tribes, Africans who owed a debt to a fellow African, would sell these Africans to Europeans as part of a deal, to make up for a debt that was owed. Africans were still practicing a system of serfdom.
European pirate explorers would take advantage of a debt system, that would carry into slavery in the plantations of America. From 1607-1705 America’s had a debt system, where anyone of any color , had to work to eats. Indentured servitude, was the first form of a debt system used in America. After slavery became legal in 1705 on a national scale. Black Americans now had to work a certain amount of years, to pay off their debts and earn their freedom, (Depending on the slave master).
This debt system of keeping the people who work poor, and the people who do not work wealthy, is plantation ideology. Even after slavery, black men were lynched because of a debt. Student loans is a soft form of mental slavery . The ability to have one, working off student loans as if it’s a house mortgage , it’s one of the many ways to systematically entrap one in debt. People who use credit cards fall into debt around the holidays because it’s deemed acceptable. Even though, this falls into the trap American debt trap, it’s promotes yearly, to go into debt for the sake of your loved ones.
America is infamous for creating debt systems for people to fall into. Overspending is the main reason people go into slavery during the holidays. The promotion of item prices that were priced extremely high to begin with, are brought down to their normal range around Black Friday and Christmas. So in reality people are skipping bills this time of year, just to purchase a product that was finally brought down to normal price. It’s the same manipulation that was used when trading African prisoners to Europeans for pennies. And it’s the same manipulation used to convince slaves to pick cotton so they can eat.
America’s have a history of being in debt to survive, the holidays puts Americans in debt to enjoy. It’s a different energy, but same concept.
