What Is My Credit Worth?
Have you ever given any thought to what your credit may be worth in the marketplace? Who gets to decide its value and who benefits directly and indirectly from its value. How does your labor or employment fit into the equation within a consumption economy? Can credit and banking or lending exist without labor? If so who would borrower without a sufficient means of paying back a debt and by what means would the debt be paid? Banks and lenders can not profit using a barter system.
One may argue that a capitalist system driven by a consumption economy is based on and rooted in credit, banking and lending. Who controls the labor? It is the consumer. Who controls the credit? The bankers and lenders? Only because they are allowed to. Credit can not and does not exist without labor. Therefore one of the most powerful forces known is an unified work force producing goods and services. Credit is used to produce, buy and sell all consumable goods. The production of these goods is clearly within the control of industry which employs workers who consume the products that are produced.
Without labor or workers who use credit to buy goods and services there would be no need to have banks for lending. Bankers lend the manufactures money to buy machinery and to pay the labor force to produce the goods. The laborers make money from their labor to buy and consume over and over again.
Therefore the two most essential parts of the economy equation is first labor and secondly its credit.
My point is this labor drives credit and the most valuable commodity a consumer has is credit sustained through labor.
The question should be asked now is if credit is created by labor why do the laborers / consumers with all their power allow a small circle of non-laborers to determine the value of their most coveted prized possession know as consumer credit?
Consumers should pause and think what is the value of my credit in the marketplace? By what means can its value be determined and more importantly how can this new found value be used to my advantage? The only way to determine the value of consumers credit is to monetize the credit through an auctioning and bidding process. This will empower the real owners of credit the laborers and consumers / borrowers. Consumers for far to long have not had a means to measure the monetary value of their credit. Should not consumers be afforded the opportunity to leverage their credit in the marketplace?