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The impact of compound interest

on Thursday, 01 August 2019. Posted in Banks

For every $1 loaned as aid to poor countries, $8 is paid back

There are many examples of the voracious rodent that is the current financial system. The two that follow describe the egregious impact of compound interest on national development, and are taken from the book, Economic Democracy: Economics Viewed in the Light of the Social Doctrine of the Church.

During the 10 year span from 1980 to 1990, Latin American countries paid $418 billion in interest on original loans that totalled $80 billion. The principal amount was still outstanding even though the original amount borrowed was paid more than five times over!

According to the Jubilee 2000 Coalition, for every $1 loaned as aid to poor countries, $8 are returned to lending institutions when compound interest is factored in.

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