INTEREST RATES… THE TRUTH!
Wednesday, May 30th, 2007Manipulation of statistics is a favourite tactic of Australia’s two-party political system. Take a close look at the ‘growth’ in the economy as announced in the 2007 Federal Budget. The much-touted ‘growth’ was built on debt, and built by increasing credit card debt and foreign debt.
It was gained at the expense of savings!
People are now indoctrinated from children into ‘running like mice on the treadmill’ of debt, and both political parties encourage it, thus penalising saving.
Australia’s conventional banking system locks people into the poverty trap by either refusing to loan them money, or by charging them high rates of interest.
When considered it soon becomes obvious that this is how society is manipulated and exploited, by the creation of complexity! Complexity creates confusion! Confusion enables a situation to be exploited for maximum profit and advantage.
Variations in interest rates are not to compensate for the higher risk of default, as claimed by banks. Increased interest rates only increases the risk of default, as those who can most afford them pay the lowest rate, and those who can least afford them pay the highest rate, which amounts to the exploitation of the financially vulnerable.
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