Credit Card Cap
(media.greatawakening.win)
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Still too high, but this is a step.
The goal is abolition of interest, because interest is usury.
You are exactly right Fren
May so, but it is legal and has to be.
Dont go all half cocked about it like others here if you dont understand simple economics.
Even with the gold standard loans have been, are, and will be a neccesary part of business and economics.
Regulating it, such as a cap on interest is a way to allow it to exist and not destroy financial institutions or the businesses or individuals who want or need them. While you may not like it, properly executed loans are critical to business.
Agreed..IF everyone is on a Level Playing Field, which we are not. The System has already placed "Joe Average" at a disadvantage. Inflation, Taxes, Economy..etc,etc,etc. This was one of the reasons Ol Klaus said...You will own Nothing and be Happy. The System was already set up to eventually take most down. I am sure that there are those, that will "Charge it" until they drop...I wonder how many have used it to just pay groceries, or gas, or the car that just blew an engine..?
Correct. While it can certainly be abused as in your examples, not everyone has a deep well, reserve of funds. If that engine blows and the vehicle is a neccessity, you cannot tell the person "sorry, you can't take out a personal loan to fix it because of my beliefs on loans, you should have forseen the need and saved up money."
There is a thing called personal responsability, but there is also a thing called accidents/unforseeable expenses.