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Posts Tagged ‘arrears’

US national debt clock, 2008

In many jurisdictions, such as California, children who are entitled to receive child support payments are only entitled to simple interest on arrears.

The banksters, however, who create credit out of nothing, loan it out at compound interest.

Take the simple example of $10,000 owed over 10 years. With simple interest of 10%, as required in California, the child will be owed $20,000 10 years later.

With annual compound interest of 10%, the banksters will be owed $25,937.42, or 30% more. But hey, the banksters need that extra money to pay for their government lobbyists. After all, the children have the rest of their lives to pay off their individual compounding debt, and if that’s not enough, they can transfer it to their own children, as previous generations have.

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