Debt and Slavery
This week is the sad anniversary of the introduction of slavery into the U.S. in 1619.
Slavery, like its modern cousins socialism and communism, represents an extreme manifestation of the Spirit of Money, which we call the Money System, where all of a person’s labor is taken by the Money System. The slave trade was infamous for kidnapping people through warfare or other violence. However, often people were simply sold into slavery to repay debts. It is no wonder that the Bible warns us that the borrower is the slave to the lender (See Prov. 22:7).
The Bible also has a remedy for slavery, as it required debts and slavery to be forgiven every seven years (See Deut. 15:1-15). Since our bankruptcy laws, like many of our laws, are based on the Bible, Americans can go bankrupt once in seven years. We say that God invented bankruptcy to break the power of the Money System.
In modern America the Money System continues to work to put people in debt bondage so that it can reap benefits from the labor of its debtors. Physical slavery is, of course, now forbidden, but the bondage of debt is still very real. Some creditors, like the IRS or student lenders, still have the power to virtually enslave their debtors. Others can threaten to take property and harass debtors, but their power is limited. They operate through intimidation, relying on fear and ignorance to keep people in bondage.
We recognize that debt for homes and cars is a part of our financial system, and we encourage people to evaluate debt based on the bondage level it brings. For example, under a home mortgage the borrower has more rights and benefits than a renter, so a home mortgage actually reduces financial bondage. On the other hand, credit card overspending leads directly to financial bondage. We also advise people not to let debt dominate their lives. Instead, like our role model Abraham Lincoln, they should build their lives first, and pay debts second.
For those trapped in debt bondage, we developed our System of Debt Relief to help them achieve financial freedom. While some can take advantage of God’s invention of bankruptcy, most can work their way out of debt after learning how to take control of their lives.
You do not need to live in slavery to debt. Get free and live free.