The Modern Face of Slavery

When President Lincoln signed the Emancipation Proclamation Act shortly before the end of the Civil War, he effectively ended the legal enslavement of black people in this country. I think everyone will agree that was a good thing. No person should have to suffer slavery for any reason.

The problem is that most of our people have enslaved themselves, and have done it willingly without ever stopping to think about it. Since about the mid- 50’s, it has become so common for people to borrow money and to purchase items on credit that it has become “the American Way”, and people do it without ever stopping to think and realize what it is that they are actually doing. All they are thinking about is; “I can have the new car (house, boat, T.V., etc.) I want even though I do not have the money to pay for it just by paying a little bit down and so much a month.

When you borrow money or make a purchase on credit you are required to sign a note (contract) making yourself legally responsible for performing according to the terms of that contract. The terms of these contracts usually include such things as payment schedule, interest rate, and penalties for late payment. The payment schedule is self explanatory, the interest rate may vary, that’s the amount you will pay for the use of the lender’s money. The longer the term of the contract, the more you will pay in interest, sometimes, amounting to several times the amount borrowed. The penalty section is something few people even read. After all, nobody enters into a contract expecting to make late payments. These penalties can significantly increase the final amount you have to pay back. You will be paying much more for the item you financed than if you saved the money and just paid for it outright. If, for some reason, you fail to perform to the terms of the contract, this lender can have the courts confiscate your property, and it’s not limited to the property you financed. The court can take anything you own to satisfy the debt.

The point to all this is that the very instant you put your signature on that note, you have just legally sold yourself to the note holder. You have become his asset (chattel). He now owns that part of you which is required to satisfy the note. Most people have more than one note and therefore, have more than one “Master”. Many spend their entire working careers with a very large part of the fruits of their labors going to support these “Masters” and are lucky if at the end of their working careers, they have managed to save enough to provide the bare minimum necessities of life for their old age when they are no longer able to work.

These lenders (Masters) have all the benefits of slavery without the inconvenience of having responsibility for the care of their slaves.

Lincoln ended involuntary slavery. Now, they have the very best kind of slave…The voluntary slave that doesn’t realize he is, after all, just another slave.

Jim Lee

 

 

 

 

 

 

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