If you were just perusing around and came sampling onto this post, the Face of Activism posts are examples of emails sent out to people, radio stations, politicians or whoever. It is to show how we can all try to influence politics, as a matter of the Democratic process. I hoped it would be a source to show how it can be done.
Dear CBC Current:
Something that you didn’t discuss (unless I missed it), is that the increased interest rate went through the magnification of compound interest. You need only look at the comparison of Compounding vs. Simple Interest to see that the theft was greatly magnified through compound interest.
Here is a statement of compound interest from the mathematics department at the U of Georgia
Compounding interest is “interest on interest.” It is a method of calculating interest where the interest is added to the original principle. This new value is now our principle for the next time period. In this method the interest earned in past terms can earn interest in future terms. Simple interest is a type of interest that is payed only on the original amount deposited and not on past interest payed.
Found at http://jwilson.coe.uga.edu/emt668/EMAT6680.2004.SU/Buckelew/assignment12/assignment12.html
There is more of course with charts etc.
When the banks were dealing with 100’s of Billion, the magnification of compound interest on top of the skewed percentage would have added more billions to their bottom lines. Perhaps when you get the numbers on how much money may have been funneled through the altered rates you could get an interest expert (from a University, not from a nervous banker) to speak on how much extra they would have gotten by the magnification of compound interest. I bet that is an angle no other news room is looking at.
It is the rabbit hole of why our Government allows banks the power of the sleight of hand of compound interest. This is the perfect example how our Government allows powers to the 1% that greatly impact the 99%.