So basically when I apply for a home loan all my finances are being looked at and scrutinised, all my assets is then translated as “financial stability” so if I can’t pay I stand to lose it all. But the bank puts nothing up. Basically they just pay the current owner with thin air! Because the “money” was created when I applied for the loan!
I am stupefied really... So when we work on low risk the banks work on no risk and they take money from us in the form of bank charges and interests on our loans not to mention inflation that is all basically created by them?
This can’t be... can it? When I look at my living cost it is said you lose 40 cents of every R1 on tax and its many faces. But now thanks to Eskom we are looking to lose even more because the actual COST will increase by a possible 43% So basically I as a person only urn about 20 cents of every R1 but the bank only have to keep 10% of my 20 cents as physical collateral thus I actually have less than that then comes all the charges and everything else. No wonder we are in a bloody recession! The system is self-defeating thus impossible to keep what you have!
Now if this system is indeed “designed” to work that way then what the hell are we using banks for? Will it not be better to translate your wealth into something more physical like gold coins or even certified diamonds? But even then you stand to lose...
Slaves to the system just got a new meaning in my books. Or I am missing a few details...
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