The Difference between Compound Interest and Simple Interest is the final point we will cover before we share the findings of The General Public’s Investigation with you.
The investigation is regarding the Banks via their Employees, Collectors and Lawyers selling your debt and not telling you.
But Even More Sinister: Attempting to collect debts they no longer own by Bully tactics and use of false information.
The Official Term Used To Describe The Above:
Misrepresentation Of The Facts Leading To Fraud.
Why would the Bank do such a thing? Money, Money, Money!!
Lets go over just one of the hundreds of ways the Banks make money when dealing with Canadians.
Understanding the difference between Compound Interest and Simple Interest is truly essential to survive in this financially dominated world.
I am willing to bet, the majority of readers who read the previous posts and saw the words Simple Interest and Compound Interest have no idea of what the difference is and the implications it has on our lives.
Compound Interest should be covered in detail with all students before they leave high school.
The leaders of the school system were well aware we would be dealing with Banks through out our lives, so why did they not teach us about Compound Interest and The Banking System?
The Banks literally have a say in every aspect of our lives. The food you eat, the movies you watch, what mainstream media reports, the list goes on including our school curriculum.
The old saying the fox is watching the hen house rings true in every aspect of the Banks transactions with the General Public.
Here are just one of the Banks many financial slight of hand tricks that most people are not aware of but effects the masses.
When you borrow money from a Bank they charge you Compound Interest but when you lend the Bank money via depositing money or investing into their many financial products they only allow you the Canadian to earn Simple Interest.
So why does the Bank insist to charge Compound Interest but only payout Simple Interest? Money, Money, Money!
A great exercise for every Canadian to do is take the exact same terms and conditions and enter them into a Simple Interest and Compound Interest Calculator.
If you do complete the above exercise, it will become very apparent why the Banks are not very transparent when explaining Compound Interest to the Canadian General Public.
BUT… For your convenience we have entered the following terms and conditions into a Simple Interest Calculator and a Compound Interest Calculator to illustrate how much more expensive Compound Interest is :
$20,000.00 at 19% over a 5 year term.
Simple Interest Calculations:
Monthly Payment: $518.81
Total Interest: $11,128.66
Total Amount Paid Back: $31,128.66
Compound Interest Calculations:
Monthly Payment: $855.51
Total Interest : $31,330.75
Total Amount Paid Back: $51,330.75
To use the information presented in this blog to get out of Compound Interest debt trap here is a LINK worth checking out or email us at UnitedWeStandPeople@gmail.com.
As you can see Compound Interest is much more expensive than Simple Interest. Approximately 40% more expensive!
If you really want to see a person squirm in a suit, phone your Bank Manager and ask them to explain Compound Interest in relation to the amount of interest being paid on your loans.
With the above in mind you would think the bulk of the Banks profit is made by charging you Compound Interest, but crazy enough it is not!
The BULK of the money within your loan transaction is made by the Bank selling your debt and NOT tell you.
This Is How They Do It.
Not many people know this but in the Financial Industry debts are considered an asset that can be bought and sold. You created an asset the day you signed the loan contract.
The Asset created that day is the original wet ink copy of the loan contract you signed.
Therefore In our above Compound Interest Calculations the wet ink original loan contract you signed for $20,000.00 is worth $51,330.75 over the 5 year term.
The Bank now can sell your debt for $35,000.00 via a process known as Securitization (Selling Your Debt To The World Market).
Therefore the Bank makes $15000.00 within the half an hour spent with you signing the loan documents. This applies to all loans, even over the internet where they spent no time with you.
If you have read the whole Blog up to this point, congratulations you now know more about the inner workings of the Banks than 90% of the employees of the Bank. Knowing this information will level the playing field with future dealings with the Banks.
Most importantly you now have the information that will allow you to be part of a General Public Investigation of the Banks Selling Debt.
If you have not already read the home page of this site UnitedeWeStandPeople.com this would be a good time to do so.
This blog is not just to inform but to organize the General Public to participate in the ongoing investigation.
By sending emails letting the Corrupt Bank Employee, Collectors and Lawyers know you read the blog focusing on one of their files and you are a concerned citizen who has some questions regarding the matter.
If you like adrenaline rushes and wish to call the Banks Employees, Collectors and Lawyers yourself asking pertinent questions, Go For It!
We will be providing the contact information, questions and emails so to participate is simple, safe but powerful.
As the home page explains in detail the impact on corrupt Bank Employees, Collectors and Lawyers when the General Public become the watch dogs.
All Bullies will stop when they know others are watching. This is the catalyst that will make them stop! A true win for the Canadian People.
United We Stand, Divide We Fall !
The Power Is In The People!
Lets Unite Via UnitedWeStandPeople.com
To use the information presented in this blog to get out of debt here is a LINK worth checking out or email us at UnitedWeStandPeople@gmail.com .
Let Us Help You Take Action Consistently .
Sign up for our FREE Automated Complaint System. This will allow you to send 1 complaint a month to each Bank Employee, Collector or Lawyer Bullying Canadians with no effort or cost on your part.
Knowledge Without Action Is Useless…
Be Part Of The Solution !
Contact Us: 1-877-370-3883
We Will Start Sharing Our Findings Of The General Public Investigation Within The Next Post.