As Usual, Leftist Politicians Will Hurt The Very People They Intend To “Help” With Interest Rate Caps

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

We are a not for profit Independent Media Group, which survives off donations. Even as little as $5 per month, from our generous readers. Please donate now, to help fund our work.

America’s monetary system is a government-created disaster. The Federal Reserve System is in fact a “system,” and it was erected by an Act of Congress in 1913. This crony arrangement between politicians and bankers lies at the root of most (if not all) of America’s major problems.

Unfortunately, with political pressures being what they are, politicians will not address the Federal Reserve System until economic reality forces them to. Politicians will not “End The Fed” until they have no other choice.

With that being the case, we must deal with the situation as it is, and with a  “system” that creates a lot of economic suffering, especially for the poor.

It is the poor who bear the brunt of inflation. In other words, when the Fed prints new money, all existing money that people have in their wallets and purses loses value. People (especially the poor) suffer the consequences with rising bills and prices at the retail stores.

Politicians then come in to capitalize on the situation with their good intentions and legislative band-aids. In other words, the politicians proceed to kick the poor while they’re down.

The fan favorite is for the politicians to raise the minimum wage in order to “help.” But this only ends up outlawing jobs for the poor and low-skilled.

If the minimum wage is $15/hr., all people without the productivity and skills to earn $15/hr. will be forced into unemployment. A businessperson will not (and cannot) lose money in hiring people.

Even if a person would be more than happy to work for $10/hr, and an employer would gladly pay it, the government forbids the voluntary arrangement from ever taking place.

While the minimum wage is the go-to and feel-good government intervention, it is far from the only one. Government gets a lot of kicks in when it comes to making life more miserable for the poor.

A new proposal to “help” the poor is now being floated, and that’s the idea that government should cap the rate of interest that banks charge on credit cards at 15%.

(Politicians seem to have a thing for the number 15).

People who are a high credit risk naturally have to pay a high rate of interest in order to get a loan. Bankers don’t want to lose money anymore than anyone else.

So if you’re a high credit risk, the interest rate for the loan will be high as well.

At least the loan is available to people who are a high credit risk.

If you’re in dire straits and can only get a loan at 20% interest, at least the bankers are there to provide it to you.

But if government caps the rate at 15%, you’re out of luck. You can thank the caring politicians for forcing you to remain in your dire straits. Now you can’t get a loan at all.

Who do you think will benefit the most from a 15% cap?

Well, if drug dealers benefitted the most from the government’s “drug war,” who would benefit from a government “war” on high interest rate loans?

Black market loan sharks!

Now people in dire straits will have to get their 20% loan from the dark alley.

Here’s something very important to consider: What happens if you’re unable to pay back a 20% loan to a bank?

Will the bank come and break your leg?

No, it will not.

But will the guy from the dark alley break your leg if you don’t pay him back?

The guy from the dark alley can’t take you to court. The loan that he made to you was illegal. So he has to be his own enforcer, and he will most likely enforce with violence.

Will a 15% cap cause an increase in broken legs at the hospitals?

It wouldn’t be surprising if it does.

These are the consequences that politicians keep creating. They move from creating one disaster after another.

Their good intentions always hurt the very people that they say they are helping.

Politicians can’t help anyone with force. It always backfires, whether it be in ways that are seen or are unseen, and whether the backfire happens now or later. The backfire cannot be avoided.

 

By Chris Rossini

*Note We Deliberately Miss Spell Some Words or Add Capital Letters To Get Around Big Tech Censoring.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Please support independent media and give a donation small priority large. This means we can continue to fight for friends and family to have a future and defend free speech.

Truthbook.social offering hundreds of thousands in giveaways for those joining its new social media platform as many desert Facebook in droves because of censoring

Here is some of the current incentives being offered to new users

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

For ANR Smaller Donors please donate below to help fund our critical not for profit work. Together we can defeat mainstream media.

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Leave a Reply

Your email address will not be published.

Play Video

McIntyre Report
Political Talk Show

RT News - August 11 2022 (20:00 MSK)

We are not live at this moment. Please check back later.

Watch Now for Free

Share with friends now plus add us to your TV and other devices and help kill mainstream media

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on pinterest
Share on email

Click to Watch Now for Free

Jamie McIntyre
TruthBook.social Videos

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Raw Report

Ryan Jackson Saw show

in USD

in AUD

in GBP

in CAD

Jamie McIntyre

ANR on

Currency Exchange Rates in AUD

Live and updated every minute of the day

Nurses Speak Out

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Editor's Pick

Thank you for visiting the
Australian National Review

To continue accessing more articles for free simply enter your email address

We are only 27% funded for next month's operations.

ANR is fully funded by our readers, people like you who often can’t stand mainstream media lies and propaganda. So please help us continue exposing the truth and helping defeat the Globalists and defend your and your children’s futures.

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset and help us expose the Covid Fraudsters

just $5 a month helps

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY