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Usury Laws - What Does Your Country Allow and/or Prohibit

  1. GmaGoldie profile image78
    GmaGoldieposted 6 years ago

    The power of interest is the strongest force in the world - I didn't say this - Einstein did. The power of government is to regulate for the good of the populace and yet our financial crisis has occur here in the United States because: 1.) inadequate usury laws and 2.) debt is no longer associated with a local assets it has become impersonal.

    What are your experiences with excessive interest rates and fees? What do you feel should be done? If you are outside the US, what can we learn?

    1. wilderness profile image97
      wildernessposted 6 years agoin reply to this

      I have never received excessive interest rates from a bank or anything else.

      I've also never paid excessive interest rates or fees; if I find them excessive I either find someone else to borrow from or don't borrow. 

      In general, if rates and fees are clearly disclosed, I find no need for governmental interference at all.

  2. Pearldiver profile image79
    Pearldiverposted 6 years ago

    What can you learn?
    - To get Real on Real Issues and Stop being dictated to by the Murdochs, Wall Street, Oil Companies etc and the Bankers who have a Dollar Each Way on ALL Outcomes and 10 Dollars invested in Politicians who are creating and maintaining laws that ONLY help those with Vested Interests!

    Evaluate EXACTLY what Rights have been Undermined since 9/11 - worldwide.. there's your answer!

    World Confidence is Controlled By surprise.. surprise.... Bankers!

    Here.. our base interest rate is 4.25% - Money is Cheap...
    A Good time to be Freehold unless you can negate the negative effects of Bankers!

  3. davenmidtown profile image88
    davenmidtownposted 6 years ago

    there really needs to be a little common sense applied to how people manage their own money. If I can not afford something I don't buy it. I try to buy at least 99% of what I need with cash or through debit.  The less the government is involved the better it is. The power of the government is not to regulate for the good of the populous because the populous does not always make its voice heard and their are special interests that the government elect are beholden to.

    1. Pearldiver profile image79
      Pearldiverposted 6 years agoin reply to this

      I was also linking bankers to Government... Your point is similar to mine.. Effectively If you can't pay.. don't play!  The basis of budgeting and prudent financial planning! 

      Government bailed the crooks (irrespective of how it was sold to the public) that allowed a lot of insecurity to be created and that insecurity remains a governing factor of the masses!

      Take Wall Street Bankers out of the picture and a whole different priority would then need to be developed... based on real issues for real people.. and you would see your politicians losing their perks.

      I'm a firm believer in throwing the hand grenade into the rowboat, just to see who jumps out first big_smile  But of course there are laws against such events smile

  4. Pollyannalana profile image85
    Pollyannalanaposted 6 years ago

    We have allowed our government too much control and now they want even more, to come into our life here on the internet and nose into everything we say. Our government has been a long time being for and by the people. We have no idea what they are really up to, except to be sure it is corrupt and not for our best interest. Somehow I feel unAmericans are running things to make sure America is no more. If the next four years don't turn us around I am sure America will be no more. We need to clean house.