ANY INTEREST RATE OVER 5% FOR ANYTHING IS UNJUST AND IMMORAL. HERE IS THE REASON…
Bankers buy and sell money just like a super market buys and sells candy. If a banker pays 1% for money (that’s $1.00 per $100.00), and sells it for 18% (that’s $18.00 per $100.00.) That is a gross profit of 1800%. It’s like a super market buying candy for $1.00 a bar and selling it for $18.00 a bar.
Bankers are paying as low as ¼ of 1%, interest for money and selling it for 18% or more. In this case, paying a ¼ of 1% and selling it for 18% would yield a gross profit of 7200%. It is like a super market paying $0.25 for a bar of candy and selling it for $72.00.
If you don’t remember your 6th grade arithmetic, gross profit is equal to selling price divided by cost and multiplied by 100.
The greatest injustice and immoral thing perpetrated on people is interest rates, except our government elected officials allowing financial institutions to get away with these injustices.
Article 1, Section 8, of the Constitution has the answer to all of America’s economic problems; killing the cause is the answer to terrorism.
Congress needs to create money and by-pass the Federal Reserve, and give the money directly to the treasury department to fund the infrastructure and give money directly to the states.
When a super-majority of congress believes that the Federal Reserve is owned by the Federal Government, and not a private banking system, it is easy to understand why we have economic problems.
To win the war with terrorism, we need to go after terrorism with a double bladed axe. We need to use one blade to kill the terrorist and destroy their infrastructure; with the other blade, we need to go after the cause. We need to put equal weight behind each blade.
REACH JIM CARROLL AT 865-470-2610