Friday Observation. Quick Loans
But all of that is fine, because there is a scapegoat - "quick loans" with interest rates from 150% to 1552% per year! Horrors! There are also bank deposits, with annual rates of 0.9% per year :)
Friday observation :) The spark for this week was provided by last week's LTV1 De Facto - or as I call it, the rumour programme - segment about quick loans. Events were taking their course, Soros money had found its way into the caring hands of Re:Baltica, it was being diligently trawled through and after a few publications and TV segments - which I suppose are the only evaluation criteria for Soros-type projects - the topic would have been left by the wayside and ended up in the rubbish bin of important public news. Just like many other "important public" topics - for instance, children's inexplicable desire to call abroad and the higher call-rate phones, etc.
The Friday morning began no differently from any other morning. For a while large fluffy flakes of snow were falling, trying to cover the red car left in the courtyard by a neighbour. Having neatly arranged the things for breakfast around a cup of coffee, I gazed at the small pile of magazines stacked on the windowsill, from the middle of which a corner of the building manager's invoice had treacherously crept out. My eye stopped at the sentence - for each day overdue a penalty of 0.5% per day will be calculated.
And here it clicked for me. 0.5% per day is actually 185% per year. Rīgas Satiksme is also in a hurry to fall under the temptation of usury and easy profit, and from next week, for time exceeded the post-payment will no longer be double the amount (in Zone C, exceeding by 1 hour would mean parting with 2 × 0.80 Ls), but instead 8 Ls - which in percentage terms is 1000%.
But all of that is fine, because there is a scapegoat - "quick loans" with interest rates from 150% to 1552% per year! Horrors! There are also bank deposits, with annual rates of 0.9% per year :)
Have a lovely Friday!
In conclusion:
Article 201 of the Criminal Law. Usury is lending carried out by knowingly exploiting the borrower's severe financial situation, and whose conditions are excessively burdensome for them.
Exodus 22:24. If you lend money to any of My people who is poor among you, you shall not be like a moneylender to him, and you shall not charge him interest.
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