Can you imagine what the world would be like if the was no credit? Can you imagine your life now if there was no such thing as credit? Take a step back and imagine a credit free world… it’s almost impossible right? To some people the idea is more appealing, but once we analyse the impact of not having credit on the economy, let alone the world, the idea will not seem as great as it sounds.
People say “money rules the world” and I say Credit powers the circulation and gives growth to money. In a nut shell, Credit gives birth to more money.
The shoes we buy on accounts, the student loans we take to study, the loans we take to but the flashy cars and houses, and the interest rates that is charged on a monthly basis, that’s what creates more money.
I sometimes wonder how the Africans lived before the whole introduction to the system of money and economies. I wonder how the days were during the years of King Shaka Zulu and his warriors, when people lived in villages and they had no worries about having too much credit or too little money to survive. When wealth was measured by the amount of life stock you had either than the numbers in the bank, governed by people who take a slice of your cake on a monthly basis.
Without credit, the world would not be what it is today. ‘Damn you debt! You got me working like a slave…