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It makes me mad that all big corporations are making record millions on other people’s hard earned income. Especially the banks.
I had a bank account with six figures. So, great, let’s do a bit of investing! I put some of it into an RRSP with the hopes of making a good return. That was a mistake. All I have been getting is notifications to add more to our accounts. I looked into our returns and saw very little gains.
Next was our kids’ educational accounts. Another big joke. The only thing that came out was it was tax deductible.
Now comes my RRIF. Ha! Ha! You got it! Not much there either. Again notices from the bank suggesting to add more to it. How can anyone be so stupid and add into a “black hole”? It’s no different then the TFSA. Just give us your money.
I might as well go buy lottery tickets or go to the casinos.
Now comes our fabulous government. With gaming commissions telling us of all the fun you can have spending your hard-earned money in these institutions? Did you win?
In the old days when someone put their money into a bank, they earned real interest. When the bank made money, so did you, at a proper rate. They shared their profits.
Nowadays they are telling us that at 2-3-per-cent interest you are very lucky. Another sucker is born.
Looks like these big banks and industrialists are taking the profits for themselves and throwing the bones to the common people, telling them how lucky they are.
We might as well turn the clocks back and start putting our hard-earned money under our mattresses. At least you know your money is safe even though you are not making “all that interest” they promise you.
People should stop using their credit cards as well. The banks and credit companies are making the money. Nothing is free. The merchants are not doing any better. They, too, pay a fee for your actions with the credit or debit cards.
Joe Szukalski
Orillia
