The ridiculously high levels of interests Privately Owned Banks charge of personal debt is regarded as the greatest weapon of them all. No one likes being trapped in huge debt and paying high interest to a corrupt bank system. Credit cards have interest of between 20% to 30% on annual compounding interest charges. Paying the minimum monthyly payment on a maxed out $2,000 credit card would take in some cases up to 20 years to repay back. Default on the these credit cards and well your credit rating is screwed, late payments incur penalty fees and a black mark against you as well.
Personal loans from loan sharks are well even higher interest rates than credit cards from the banks. Avoid these like the plague unless you are really desperate. Annual interest rates in some cases up to 1000% per annum compounding. A $2,000 loan from a loan shark may well blow out to $20,000 per year and may well see a loan shark debt collector coming to make you pay back the loan plus interest.
