The Plastic Mafia
How can the credit card companies violate the usury laws of all 50 states and get away with it?
Every state has usury legislation that prohibits charging more than 10 per cent interest on loans, but the plastic mafia can rob you of any amount they want… 40 per cent isn’t rare.
Worse than charging illegally high interest, the plastic mafia also blatantly violates the U.S. Constitution Article 1, section 10: “only the federal government can create bills of money”. When you use a credit card with the “3% kickback” to purchase a $100 item your cost is only $97, but if you use cash, your cost is $100. Therefore, there are two monies, “credit cards” and dollars.
Why do we pay more than other people?
The poor, minorities and those just starting out are being raped because they cannot qualify to use credit card money – only dollars. So tragically, fifty million Americans pay $100 for groceries while those using credit cards pay only $97. And, if you add the credit card cost that the retailer includes in his price as a cost of doing business, the total is an outrageous 6 per cent. In effect, the plastic mafia steals $1,000.00 a year from those least able to afford it.
That is so illegal. So immoral. So unconstitutional. So unfair. It is a class action lawsuit begging to be uncaged.
Why does Washington allow this criminal activity?
The answer is so obvious that even that dumb rock can answer it. The Plastic Mafia owns Congress hook, line and page boy.
The credit card companies admit to spending 100 million dollars a year lobbying congress and they still can report their profits at 50 per cent. (The average profit of United States’ companies is 7 per cent). If you use your credit card to send money to your favorite politician, the plastic mafia can pocket as much as 30 per cent of it.
How else does the Plastic Mafia steal money?
Computational trickery: One example – if your statement due amount is $2,1oo but it is only convenient to pay $2,000 of it, (believing that you will be charged interest only on the unpaid $100). Wrong, they charge you interest on the full amount.
Inflationary: All businesses pass on the 2 to 5 percent cost of you using credit cards. (Formerly, some of them would list and add this fee on your bill, but today it is automatically built in as one of their costs of doing business). In other words, if credit cards were not prevalently used, the cost of living in the United States would decrease by as much as 5 percent!
“Recurring charges:” One of the most offensive violations of your rights by the credit card companies is the fact that you cannot call them to remove those unethical, if not outright, illegal charges. Maybe you subscribed to Disney last year before the Super Bowl, but since then you have not watched anything on their channel or maybe, decided you just didn’t want it anymore. Good luck trying to cancel. If you wish to “unsubscribe” you better have Einstein’s IQ and a lot of patience to find that illusive cancel button. And, due to our human nature, most of us won’t be aggressive because, “well, it’s only $9.58 a month”, or procrastinate “I’ll cancel it later”. (For many, that will be years).
Solution! Enact the 34th Amendment to the United States Constitution.
It is time to ban illegal interest and unconstitutional money! It is time for Americans to use its democratic system to fight for what’s right and decent. The best way of doing so is by creating 50 State Coalitions to add an amendment to our constitution.
If you are one of those Americans who cares, please contact me and volunteer to create such an organization in your state.
We need volunteers to make it so.
1. Create 501(c)(4) corporations in each state.
2. Petition each to pass the amendment.
3. Congress adopts when ¾ of the states
pass.
The people of every state have already voted unanimously to stop unfair interest rates. It is time for Americans to force the politicians to honor their will.
Please support Amendment 34.
Thank you,