The Second Hand Car – Credit Card Sharks and the Ordinary Consumer – » The Australian Independent Media Network

Money cannot disappear; it moves from one account to another. There is no money eating monster that digests huge amounts of liquid cash turning it into thin, bad smelling air. Indeed, no one can tell where these other accounts are but had I been in charge of financial policy and governance I would have applied the old saying “Follow the money trail” with vigour.

Where does this leave the person that requires cash at short notice and unable to buy such funds from a bank? Well, the answer is simple: being regarded as a higher risk, the borrower is forced to obtain funds from legal loan sharks in Australia. The cheerful franchises that offer money at incredibly high rates and would sell your children into prostitution or coal mines if the proponents of neoliberal free market trickledown theory had their way .

Next time I might carefully examine the many wonderful money laundering services that have become part of the Australian financial scene.

Source: The Second Hand Car – Credit Card Sharks and the Ordinary Consumer – » The Australian Independent Media Network