Credit is everything, and everything is credit - YNOT
Let me tell you a secret, though it’s hardly a secret at all: the whole world runs on belief. Not on gold, not on dollars, not even on bitcoin—it runs on credit. And credit, if you trace it back to the old Latin root, comes from credere, meaning to believe.
Once upon a time, a man would lend his neighbor a sack of grain because he believed he’d get it back after the harvest. Today, a bank lends you a house you can’t afford, because it believes you’ll spend thirty years chained to a mortgage proving them right. Same game, fancier paperwork.
Every dollar in your pocket is nothing more than a promissory note—belief printed in green ink. Every stock certificate is belief in a company’s tomorrow. The U.S. government borrows trillions on the belief that somebody, somewhere, still thinks Uncle Sam is good for it.
And let’s not forget personal credit—your name, your handshake, your word. Lose that, and it doesn’t matter how much paper you stack in your wallet. People will cross the street before they lend you a match.
So yes, credit is everything, and everything is credit. Pull the belief out of the system, and it collapses like a house of cards in a stiff breeze. Which is why, when it comes to the economy or your own life, the real currency isn’t money at all—it’s trust.
Gold is money. Everything else is credit -J. P. Morgan
Our entire financial system still rests on trust:
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Banks extend loans because they believe borrowers will repay.
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Currencies have value only because people believe others will accept them.
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Stock markets move on belief in future earnings.
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Even social credit — your reputation — depends on whether others believe in your reliability.
The bankers say all is well, but their balance sheets are painted stage props—convincing from the front, hollow behind. For years they’ve played “extend and pretend,” rolling loans to fraudulent borrowers and calling it growth. Empty strip malls were declared “assets,” worthless paper was passed as “credit,” and the regulators looked the other way. Then the reckoning began: Zion’s Bank writing down $50 million, Western Alliance suing over fraud, and commercial foreclosures ticking up like termites in the beams. Even the gold market is screaming, soaring not from inflation but from deflationary fear—because belief, the only thing holding credit together, is starting to crack.
Strip away the belief, and the system collapses. Credit, at its root, is nothing more than belief institutionalized.
And then came the line that lit the fuse. JP Morgan’s Jamie Dimon told the truth most bankers dare not whisper: “When you see one cockroach, there are very likely more.” He aimed it at bankruptcies like First Brands and Triricolor, but the words apply to the whole banking house of cards. Private credit firms swear they see “no rising defaults”—as if roaches announce themselves politely before scurrying. The truth is simple: the system is rotting, the cockroaches are everywhere, and the banks, by lying to themselves and lending to frauds, have set the stage for a future crisis that no bailout broom can sweep clean.
This isn’t financial advice—it’s a warning. Between inflation that eats your paycheck, fraud that hollows out the markets, and a credit crunch that strangles what’s left, the average person is being marched straight into a bad place. Think 1929 bad. The only mystery is the timing. When does the floor give way? That’s the million-dollar question. What we do know is the system is crawling with cockroaches—and once you see one, you can be sure there are plenty more hiding in the walls.
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