Real Estate Investor Magazine South Africa May 2016 | Page 21

I t was Albert Einstein who said, “Compound interest is the eighth wonder of the world. He who understands it earns it, and he who does not pays it.” Question is, on which side of the transaction are you? Are you the financial slave who is paying it or the wealthy beneficiary earning it? The rich are getting richer and the poor are getting poorer as a result of this system. The Oxfam 1/15 Report tells us that top 1% rich have seen their global wealth grow by almost 50% in 2016. They also own almost 50% of the world’s resources including all the debt obligations today. The banking system is essentially a giant Ponzi scheme with more money having to be re-paid than was lent into existence. All money will stream back to the central debt-making machine when the lending stops. In another way the world’s 62 richest Capitalists (Oxfam 1/16) own more than the 3,5 billion poorest. It could be fair to say that capitalism has brought the world at last into a veritable dog box says Tony Webbstock. It was Benjamin Franklin who said, “Credit is a system whereby a person who can’t pay, gets another person who can’t pay, to guarantee that he can pay.” Abraham Lincoln said it best in 1865: Money is the creature of law, and the creation of the original issue of money should be maintained as the exclusive monopoly of national government. “The need to act now is impaired by the lack of government control over the Reserve Bank, which is a privately owned entity, owned by private shareholders - possibly bankers - whom the law requires to be kept secret. Its decisions should be in the public interest, but are taken in closed meetings, recorded in secret minutes by directors appointed by and accountable to their shareholders.” The Government has done what it can about overindebtedness. Reckless lending, prescribed debt and is limiting the amount that creditors can claim. Now you have to free yourself from Debt Slavery! MASTER TIP: PAY YOURSELF FIRST Before you pay any your bills, before you buy groceries, bond or rent set aside a portion of your income to save. Ideally put the money into your savings account. The first bill you pay each month should be to yourself. 5 Steps to FREE yourself from Debt Slavery with the Total Debt Makeover Programme: 1 2 Prioritize your debt - Pay yourself and your family first Pay A creditor important debt first – unlike debt review and debt counseling 3 Open a Savings/Dignity fund – This is for future monthly necessary living expenses 4 5 Stop paying unaffordable B creditors Protect your order of priority while creditors are contacted TO SUBSCRIBE NOW to “The Total Debt Makeover Plan” costs only R150 per month please send an email to info@reimag. co.za that gives you immediate benefits (and debt relief). Upon subscription, we will do a debt analysis with you to plot your way forward. For more information SMS ‘REIM Debt Management’ to 083 417 7254 or email ‘REIM debt Management’ to [email protected] www.reimag.co.za MAY 2016 SA Real Estate Investor 19