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Posts Tagged ‘child support’

"Bankster"

In documenting the double standards of the banksters, I have shown how they value our portfolios with depressed market values, while using mark-to-model to arbitrarily inflate their depressed asset values.

Then, there’s ┬ásimple interest for child support arrears, and compound interest for banksters, because they need the money more than children do.

If that weren’t enough, another one of their double standards is to charge interest on loans on weekends, which can’t be paid back until Monday, but if you would normally owe money on the weekend, you have to make a payment on the Friday, or be charged interest all weekend.

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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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