Credit Card Interest Rate Crisis: The Fed’s Secret War to Bankrupt America!

by – L. Richardson

The credit card interest rate crisis is ravaging the American middle class, exposing a covert war waged by the Federal Reserve and banking elites. With rates soaring to an alarming 30% on retail cards and averaging 21% overall, hardworking citizens are ensnared in a debt trap designed to drain their wealth. This financial tyranny impacts daily life, from household budgets to long-term economic stability, leaving millions vulnerable to record-high consumer delinquencies and potential financial ruin.

As inflation eats away at purchasing power, the Fed’s interest rate manipulation benefits big banks while crushing ordinary Americans. This article will illuminate the predatory lending practices in America, uncover the hidden agenda behind the household debt crisis of 2024, and expose the true nature of economic enslavement through debt. It will also explore the tension between free market principles and federal control, examine proposed solutions like Trump’s credit card interest cap, and provide crucial guidance to help readers fight back against this assault on their financial freedom.

The Fed’s Role in Manipulating Interest Rates

The Federal Reserve’s contradictory actions have exposed a sinister agenda aimed at crushing the American middle class. While the Fed cuts rates to bail out their Wall Street cronies, consumer credit card interest rates are skyrocketing. This is no coincidence—it’s an orchestrated scam designed to enslave hardworking Americans in a cycle of debt.

The Fed’s interest rate manipulation has created a perfect storm for predatory lending practices. As the central bank keeps its benchmark rate low, big banks and credit card companies are free to jack up their rates to astronomical levels. This widening gap between the Fed’s and consumer credit card rates indicates the economic war against ordinary citizens.

The banking elites’ war on consumers has reached new heights, with credit card interest rates now averaging 21%. This 30% credit card interest scam is bleeding the middle class dry, forcing many to choose between paying for essentials and making minimum payments on their ever-growing debt.

Fed’s Contradictory Actions:

While the Federal Reserve cuts rates to bail out its Wall Street cronies, consumer credit card interest rates are reaching record levels. This is no coincidence—it’s an orchestrated scam.

The Fed’s hidden agenda becomes crystal clear when we examine the stark contrast between their actions and the reality faced by everyday Americans. While big banks enjoy near-zero interest rates, the middle class is left to grapple with crippling credit card debt. This deliberate policy has fueled the household debt crisis of 2024, pushing record-high consumer delinquencies and driving many families to the brink of financial ruin.

Price Controls Are a Trap:

Trump’s proposal to cap credit card interest at 10% is a solution. Still, federal price controls only make the problem worse. Banks find new ways to fleece the American people through hidden fees and other tactics.

Trump’s proposed credit card interest cap of 10% is a lifeline to those drowning in debt. However, this well-intentioned measure could backfire spectacularly. Price controls imposed by the federal government often lead to unintended consequences, as banks and financial institutions find creative ways to circumvent these restrictions.

Instead of solving the problem, such measures could drive banks to implement hidden fees, reduce credit availability, or impose stricter lending criteria. This would only further restrict access to credit for those who need it most while doing little to address the root cause of the issue—the Fed’s manipulation of interest rates and its cozy relationship with Wall Street.

Predatory Lending:

The Middle Class in the Crosshairs

The banking elites’ war on consumers has reached new heights, with predatory lending practices targeting the heart of America—the middle class. These unscrupulous tactics are designed to keep hardworking citizens struggling and dependent, creating an economic time bomb that threatens to explode.

The Debt Trap:

The average American household has over $6,000 in credit card debt, with some consumers raising $10k or more [16]. This is no accident—predatory lending practices by the banks are designed to keep the middle class struggling and dependent.

The reality of this debt trap is staggering. Recent data shows that the average U.S. household with credit card debt has a balance of around $6,065 1 [17]. This figure alone is alarming, but it’s just the tip of the iceberg. Many families are sinking even more profoundly, with some owing $10,000 or more on their credit cards.

These high balances are no accident. Predatory lenders deliberately target vulnerable populations, including those struggling to meet monthly expenses or who have recently lost their jobs 2. They exploit borrowers’ lack of understanding about financial transactions, often using aggressive sales tactics to lure customers into loans they can’t reasonably repay.

Debt Growth on the Rise:

From 2023 to 2024, consumer credit card debt grew by $111 billion, and household debt increased by $733 billion. This is not just a problem—it’s an economic time bomb.

The situation is rapidly worsening. In just one year, from Q2 2023 to Q2 2024, U.S. household debt skyrocketed by 4.3%, reaching a staggering total of $17.80 trillion—a new record high for the nation. Credit card debt, in particular, saw an alarming increase of 10.8% during this period.

This explosive growth in debt impacts every aspect of financial stability for middle-class families. As of the first quarter of 2024, approximately 8.9% of credit card balances transitioned into delinquency 4. This trend reveals a disturbing pattern of worsening financial distress among households nationwide.

The predatory lending crisis is not just a problem—it’s an economic time bomb threatening to bankrupt America. As the Fed continues its secret war against the middle class, citizens must recognize these tactics and fight back against this assault on their financial freedom.

Inflation and Its Impact on Everyday Americans

The Fed’s hidden agenda has unleashed a financial storm ravaging the American middle class. As inflation spirals out of control, the cost of living skyrockets, forcing many to turn to credit cards just to survive. This vicious cycle is pushing hardworking citizens deeper into debt, exposing the true nature of economic enslavement.

Rising Costs of Basic Necessities:

As the Fed keeps cutting rates, inflation spirals out of control, making essentials like food, gas, housing, and transportation even more expensive. Consumers are forced to turn to their credit cards to survive, digging themselves into deeper debt.

The impact of inflation on everyday Americans is devastating. From 2020 to 2022, inflation rates surged from 1.2% to 9.1% 1. Although it has since decreased, the annualized inflation rate remains 3.7% as of September 2023 1. This relentless rise in prices has eroded the purchasing power of consumers, making it increasingly difficult to afford basic necessities.

The middle class has been hit particularly hard by this economic onslaught. Higher food, gasoline, and utility costs mean less money for savings and discretionary spending 1 [5]. Many are forced to buy less, switch to cheaper alternatives, or delay major purchases to compensate. This financial strain has pushed countless Americans to rely on credit cards to make ends meet, further exacerbating the debt crisis [6].

The Fed’s Hand in the Inflation Crisis:

Inflation is not an accident—it’s a deliberate tactic used by global elites to devalue the dollar and crush the purchasing power of ordinary Americans.

The Federal Reserve’s role in this inflation crisis cannot be overstated. Their contradictory actions of cutting rates while allowing consumer credit card interest rates to soar have exposed a sinister agenda aimed at crushing the American middle class. This deliberate devaluation of the dollar has had a catastrophic impact on the purchasing power of ordinary citizens.

The consequences of this economic warfare are far-reaching. Over the past five years, 97% of occupations’ salaries have failed to keep up with inflation, resulting in an average salary decrease of 8.2% 2. Meanwhile, home prices have surged by an average of 56% 2. This widening gap between income and living costs has forced many to rely on credit cards, trapping them in a cycle of debt that seems impossible to escape [7].

As the Fed continues its secret war against the middle class, Americans must recognize these tactics and fight back against this assault on their financial freedom. The path to economic recovery lies in exposing the truth behind the Fed’s hidden agenda and demanding accountability from those responsible for this financial tyranny.

The Real Agenda:

Economic Enslavement

The Federal Reserve’s manipulation of interest rates and the banking system’s predatory lending practices have exposed a sinister agenda aimed at enslaving the American middle class through debt. This economic warfare is not just about poor policy decisions—it’s an organized effort by globalist elites and financial institutions to tighten their grip on our freedom.

The Globalist Plan:

This is not just about poor policy decisions—this is an organized effort by globalist elites and the Federal Reserve to enslave the American people through debt. The higher the interest rates, the tighter their grip on our freedom.

The roots of this financial tyranny run deep, with slavery serving as the foundation of today’s financial services sector 1. Private actors such as banks, along with the federal government, have created policies and practices rooted in slavery that rob the descendants of the enslaved from building and maintaining wealth while simultaneously supporting Whites 1. This system of economic enslavement has evolved, with credit card debt now serving as modern-day shackles.

In 2022 alone, credit card companies charged consumers more than $105 billion in interest and over $25 billion in fees 2. With total outstanding credit card debt eclipsing $1 trillion for the first time since data collection began, it’s clear that the banking elites’ war on consumers has reached new heights 2. This debt trap is designed to keep the middle class struggling and dependent, creating an economic time bomb that threatens to explode.

Economic Warfare Against Sovereign Citizens:

The middle class is under attack, and this economic warfare is being waged by institutions like the Federal Reserve, big banks, and corporate interests that profit from the collapse of American financial independence.

The Fed’s contradictory actions of cutting rates to bail out Wall Street cronies while allowing consumer credit card interest rates to soar have exposed their true agenda. This widening gap between the Fed’s and consumer credit card rates indicates the economic war against ordinary citizens. A vicious debt cycle pushes hardworking Americans deeper into financial distress.

As inflation spirals out of control, making essentials like food, gas, housing, and transportation even more expensive, consumers are forced to turn to their credit cards just to survive. This deliberate devaluation of the dollar has had a catastrophic impact on the purchasing power of ordinary citizens, with 97% of occupations’ salaries failing to keep up with inflation over the past five years.

The globalist plan is clear: to enslave the American people through debt, using high interest rates as a weapon to tighten their grip on our freedom. This economic warfare against sovereign citizens is being waged by institutions that profit from the collapse of American financial independence, leaving the middle class as collateral damage in their quest for power and control.

Expert Guidance – How to Fight Back and Reclaim Your Financial Power

The credit card interest rate crisis is ravaging the American middle class. Still, there are ways to fight back against this financial tyranny. Here’s expert guidance on reclaiming your economic power and breaking free from the debt trap set by banking elites.

Stop Feeding the Beast:

Stop using your credit cards to pay for daily necessities [8]. Every dollar you put on credit is another victory for the banking cartel.

To combat the 30% credit card interest scam, it’s crucial to stop using credit cards for everyday expenses. Every purchase made on credit is a win for the banking cartel and their war on consumers. Instead, focus on using cash or debit cards for daily necessities [9]. This approach helps avoid accumulating high credit card balances that may become difficult to pay off later 1.

Debt Consolidation:

Look into balance transfers or low-interest loans to consolidate your debt and reduce your interest burden.

One effective strategy to fight back against predatory lending is debt consolidation. Consider balance transfer credit cards, which allow you to move existing debt to a new card with a lower interest rate [10]. Many balance transfer cards offer introductory 0% APR periods for up to 18 months 2 [11]. This can provide valuable time to pay off your debt without accruing additional interest charges.

Prepare for Inflation:

Start stockpiling essential goods before inflation makes them unaffordable. Protect your assets by investing in precious metals and other hard assets [12].

As inflation continues eroding purchasing power, preparing for rising costs is crucial. Consider investing in assets that historically perform well during inflationary periods, such as gold, commodities, and real estate investment trusts (REITs) [13]. These investments can help hedge against inflation and protect your financial future [14].

Hold the System Accountable:

Contact your representatives and demand real change. The time for complacency is over—Americans must stand up against the corrupt system that seeks to impoverish them.

To truly combat the Fed’s hidden agenda and financial tyranny, it’s essential to hold the system accountable. Contact your representatives and demand real change in credit card interest rate regulations. The time for complacency is over—Americans must unite and fight against the corrupt system that seeks to enslave them through debt.

Conclusion – The Path Forward

The credit card interest rate crisis profoundly impacts the American middle class, revealing a hidden agenda by financial elites to trap citizens in debt. This orchestrated effort, involving the Federal Reserve’s contradictory actions and predatory lending practices, has led to skyrocketing interest rates and record-high consumer delinquencies. The widening gap between the Fed’s and consumer credit card rates exposes an economic war against ordinary citizens, pushing many families to financial ruin.

To fight back against this financial tyranny, Americans must take action to reclaim their economic power. This means breaking free from the credit card cycle, exploring debt consolidation options, and preparing for inflation by investing in hard assets. Moreover, it is crucial to hold the system accountable by demanding real change from representatives. By understanding the true nature of this economic warfare and taking steps to protect their financial future, Americans can work towards breaking the shackles of high-interest debt and restoring true economic freedom.

FAQs

What actions has the Federal Reserve taken regarding interest rates in 2023?

In 2023, the Federal Reserve reduced its key interest rate to 4.75%- 5.00%. This decision came after a series of rate hikes totaling 5.25 percentage points from March 2022 to July 2023 to address concerns about a slowing labor market.

What are the expected credit card interest rates for individuals with varying credit scores in 2023?

For those with excellent credit, the average Annual Percentage Rate (APR) they might receive is around 21.48%. Conversely, individuals with lower credit scores could see an average APR of 28.36%. As of October 2023, the average FICO Score in the U.S. was 717, slightly down from April 2023.

Will credit card interest rates decrease in 2024?

Yes, credit card interest rates are expected to decrease in 2024. The Federal Reserve, during its September FOMC meeting, reduced the federal rate by 50 basis points. Further reductions are anticipated twice more in 2024 and four additional times in 2025, which could ease the financial burden on credit card users.

How does the Federal Reserve impact credit card interest rates [15]?

The Federal Reserve influences credit card interest rates through adjustments in the federal funds rate. Changes in this rate affect the prime rate, which in turn causes fluctuations in credit card APRs. Therefore, when the federal funds rate and prime rate increase, credit card APRs also typically rise.