How feasible is this guy's strategy?

[Anonymous No.56486415]

He's advising people to debtmax and steal money from shitty online banks because they won't survive the coming collapse. Is this the way forward or is this guy a retard?

[Anonymous No.56486419]

>>56486415
More of that tweet

[Anonymous No.56486461]

>>56486415
You must be young. I have been hearing these kinds of Doomsday BS since 2008 at least.

[sage No.56486464]

[Anonymous No.56486486]

>>56486415
Can you debt max and disappear and probably be fine?

Yes, if you can get a new identity and are ok living in a third world country.

He's claiming to make a play on societal collapse

>The banks are all going under anyway so I might as well get whatever the fuck I can from them before it happens!

The problem is if this doesn't happen (hint: it won't, not in our lifetime anyway), you have destroyed your ability to live as the person you were. The feds won't bother hunting you down but you better not show your face.

$10,000 is a hilariously low IQ amount to do this with. If you can't get out with minimum $300-400k you're completely done for. Better if you can get to 7 figures.

HELOC & high cap credit cards make it feasible. But again, you need your ducks in a row. You will need to disappear completely very quickly after moving everything to crypto, then you will need to run everything through mixers and into multiple wallets and lay low.

[Anonymous No.56486646]

>>56486486
Anon it sounds like you've given this some thought before kek

[Anonymous No.56486709]

>>56486461
Sure. But its a play on inflation, not necessarily a play on societal collapse.
JP Morgan and Citi will survive the coming recession. Will Revolut and monzo?

[Anonymous No.56486724]

>>56486646
If I was single and at my limits with wagiedom I would perhaps seriously consider it. My CC limits are all $100k+ and I could get at least $500k in personal loans against my equity.

But I am a family man and would never go through with it at this point.

Anyway, the retards posting stuff like this have probably given it zero thought, so I wouldn't listen to anything they say.

[Anonymous No.56486813]

>>56486486
>>56486724
How often does your credit reset in burgerland? Thought it was in the 7-10 year range. Even after that I’m pretty sure that a full credit report will show that you defaulted on loans in the past, but the system is ripe for abuse. I’m a little surprised there isn’t more fraud, people without many assets can still probably get a 5-10k unsecured personal loan and just skate on it. It’s not enough to do anything like fleeing the country but it’s money you didn’t have before.

[Anonymous No.56486827]

>>56486415
You are an absolute fucking retard if you think your debt will just disappear in this scenario.

[Anonymous No.56486910]

>>56486827
Well what happens to it? If you somehow extract 300k worth of loans and instantly fuck off to some random island in the Philippines while doing as this anon >>56486486 says by spreading it into different crypto wallets, what would eventually happen? Let's say you never ever return to the US/West

[Anonymous No.56487009]

>>56486415
25% of my retirement portfolio is in synchrony bonds. I really just wish people would live within their means and pay back money they take. Interest is literally not a problem if you pay it back even one month later.

[Anonymous No.56487066]

>>56486415
kek he's wrecking his life and bragging about it

[Anonymous No.56487077]

>>56486415
Debtmaxxing only works in a ZIRP environment. He's a few years late with doing this.

[Anonymous No.56488727]

>>56486827
>>56486910
If you simply never return they have to write it off, they lack jurisdiction to bring an action against you to claim anything. Not that they would bother if you are an empty bag, no point in suing a broke loser with no money to pay back. The whole setup depends on the borrower being a contributing member of society who acts in good faith and has a real W-2 type income source to pay back the loan. If you work in the gray economy or you are dead set on dodging them there isn’t too much they can do. It’s why the system is so opposed to cash dealings, no way to control it.

[Anonymous No.56489045]

>>56488727
>>56486910
>>56486813
>>56486724
>>56486486
Couldn't you just file for bancruptcy?

[Anonymous No.56489088]

>>56486910
someone buys your debt at a discount when a bank falls

[Anonymous No.56489126]

>>56486486
Alright debtmax expert, my FICO just hit 700 and my credit limit for my sole credit card went up 400% without request and I have been getting preapproval offers for similar amounts in the mail. should i be applying for as many credit cards as possible in one day and see what gets accepted?

[Anonymous No.56489266]

>>56488727
You could if you want but it doesn’t really matter. Bankruptcy is more for people who want to restructure and not just go rogue. You have to go through an accounting and pay off at least a little usually. It’s for normies.

[Anonymous No.56489349]

>>56486709
The debt will be bought up my JP Morgan and Citi, they won't allow you to simply win.

[Anonymous No.56489373]

>>56486415
A funny thing people do in the UK with semi-profitable LLCs (so banks are willing to loan), is literally borrow a fuck ton of money, take it all, then declare bankruptcy. I know people who get away with it, it’s not against any laws either, yet.

[Anonymous No.56489401]

>>56486415
Guy is a retard. If anything you should be credit maxxing. I literally have 150k worth of credit and have gotten 4k in bonuses JUST this year.

You autists can grind away for retarded bideo games collectibles but can't do the same with money in real life. SOMEHOW that is too hard.
Only retards "STEAL" money when you can get the same "high" navigating this fucked up bureaucracy to get ahead.

My main quest is to get my daily passive income up. Right now it is at $8.10. I am still doing research into how to improve that. Small wins build up to even bigger wins, the momentum just take you over. Even saving $10 to me feels like a getting a $1000 lotto.

[Anonymous No.56489481]

>>56486486
If you're 18 it should be guaranteed you need to max out your credit to the point it reaches 10's of thousands of debt. From the age of 18 you should start out with three lines of 500 and pay them off for a few months to a few years. When you're 20 through 25 take out the maximum any bank within a 3 state radius will allow you to in terms of personal credit. If you want to go to college then you can extend this bankruptcy scheme for as long as you are in and they gave me 5k each semester at a 4% interest rate. The only debt you don't want to run into is government owned. All you need to do is debtmax.

When you're 40 that's when you genuinely consider finally settling down into a modestly comfortable home. Do NOT ever take out debt to be a homeowner at 25. You are literally throwing money away when that could be distributed to high yield investment accounts such as crypto ETFs, employer matched 401k, SPY, or other BlackRock/Vanguard holdings.

[Anonymous No.56489531]

>>56486415
colossal fuckin' retard. when a bank fails, it gets taken over by another bank, all the way up. no debts are forgiven.

[Anonymous No.56489752]

>>56489401
>$8 in daily passive income
that is favela money. not even worth the fucking effort if u live in a "first" world nation. ur better off using that 150k of credit to buy gold then easing into btc with mixers and fucking off forever. only a western femoid would run out of it.

[Anonymous No.56489790]

>>56486415
>no we do want that 10k back
>see you in court

[Anonymous No.56489861]

>>56486415
Isn’t this illegal? Really seems it.

[Anonymous No.56489913]

>>56489861
the end of the line is they drag a few people who do this to court and prove they bought dumb shit using the credit cards after which the judge will order them to forfeit belongings to make up for the balance they owe

basically for 99.9% of people this is an amazing strategy without any real downside , as most people have nothing important to lose

if you own stocks or assets or a business etc obviously dont do this shit

[Anonymous No.56489939]

>>56486415
he's retarded
>borrow money, goys! is best economic strategy! i have issues paying my mortgage interest rates, but credit card interest will surely be less than inflation
if you can get cheap low interest rate loans that will be better than inflation, then great, but you're not likely to find that.

[Anonymous No.56490074]

I almost don't even want to discourage this because it would be such an epic story to see go down as these anons destroy their lives with some retard reasoning.

First you will probably just alert a dozen agencies that you are about to do something retarded and you will find it harder to just walk away than you think. You will get caught because you are sloppy and retarded. You will go to jail and then you will write down your bitcoin private keys for the authorities after they ask you nicely. You will return to your amazon wage cage while having to pay collections for several months to a year. You will never be able to take out a large non-predatory loan for anything, car, house, personal, credit card, ever again, because now you will forever be known as a flight risk.

But lets say you actually pull this off. You better be sure the country you go to won't extradite or honor debts, and you better have a good reason why you just appeared in this country where you live a comfortable life without working at all. Local cops are always corrupt and ruthless in shithole countries and if they suspect they can get paid a chunk of whatever you very obviously stole they will try to turn you in somehow or at least extort you. You will never be able to return to the US or any country with good relations. You will live in a shithole neighborhood because you can't afford any more. You will continue to be an incel when you realize foreign women don't actually act like the prostitutes passport bros and influencers hire. You will be alone with no friends no family and a local population that knows you are not to be trusted. This all assumes you can even get citizenship or a visa, but why would any of these countries want some freeloading pasty faggot with no job to live there?

[Anonymous No.56490116]

>>56489752
You are naive retard, who scoffs at money. Any money no matter how much is money. Also I didn't even mention my income, which I ensure is greater than the average HOUSEHOLD income in the US by 2x.

This why I despise neet fagg0ts crapt0 luckers like you. yes I have a crypto in my portfolio but, it ain't my only way of making it. I always try to look into every way of making it, atleast have frist hand knowledge of every scam or businesses fast hand becuase I try everything.

NIGGER HAVE YOU EVEN TRAVELLED outside you podunk town. FUCKINg monkey.
>> 150k of credit to buy gold
I have 100k worth of gold just passed down by my family and properties worldwide. Stfu you cretin
Muh bitcoin mixers. None of you are actaul bizrealizes just some gambling addicts.

[Anonymous No.56490220]

>>56486415

US is once again made cuck by of israel

He's right, banks are going to collapse, major economies are moving away from dollar.

Oil and Gold prices may surge.

Ordinary americans are realizing that they were never free and enslaved by the debts/banksters

[Anonymous No.56490374]

>>56486415
You can sell debt. Apparently he's never heard of a collections agency. Also I've been hearing that we're a couple years away from complete hyperinflation for decades. I heavily advise everyone to avoid this sort of "con your way into success" mentality. I've literally never seen someone have that mindset who didn't end up being broke and double digit IQ.

[Anonymous No.56490546]

>>56490116
who hurt u?

[Anonymous No.56490734]

He's completely right