PART ONE OF MY PLAN TO A NEW ERA OF PROSPERITY FOR AUSTRALIANS.
Albert Einstein said- “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”
I say-“It is the greatest money gouge ever devised to favour those who would take advantage of people. Compounding Interest is ‘Money Gouging at its worst and is the cause of much distress, evictions, closure of businesses , break up of families, poverty and in some cases Murder and Suicide.
I will outlaw it and thus put much less strain on your budget to pay for groceries, health care,, mortgage repayments and education of your families and put more money in your pocket and purse.
HOUSE MORTGAGES – will be repaid much sooner say fifteen years instead of thirty! You only repay the original sum of money of the loan and NO INTEREST CHARGES ON INTEREST ACCRUING ON THE LOAN. In other words you will not pay up to 300 Percent of the original loan amount but one hundred percent plus only one set amount of profit paid to the lenders and thus save hundreds of thousands of dollars not gouged from you and your family!.
Banks thrive on money gouged in Compounding Interest charges! I can hear the yells of alarm from Self Funded Retirees and Superannuants that they will lose out.
MONEY GOUGING IS NOT THE ANSWER to a happy retirement – NO- The answer to a happy retirement is not to worry about whether the government of the day will reduce your benefit or impose a new Tax – the answer is a prosperous Australia and a pension for our elder citizens that is equal and indexed to the minimum wage of Australian workers!
OUTLAWING COMPOUND INTEREST CHARGES will bring a new era of prosperity to Australia. The trillions of dollars saved every year from money gouging on Credit Cards, house mortgages and loans will instead be spent on people’s needs and thousands/ millions of jobs will result.
That is one of the first priorities of “Australia New Era Party” – TO PUT MORE MONEY IN YOUR POCKET AND PURSE!
I can’t do it alone, JOIN NOW- PROSPERITY NOT AUSTERITY- YOUR CHOICE!
I hope you make the right one for a better future, Cheers Ray.