I think a cap would be good, the amount of that cap at 10% I am not so sure maybe 15-20% might be more acceptable?

Also it is not just about the interest rates, it is the predatory tactics of loan companies, trucks that go around neighbourhoods selling goods at 3 times the retail value. The poor and elderly being taken advantage of. Bankrupts still trading etc. Should be harsher penalties for white collar crime.

While I'm against interest in general, if we do have to have it (even for a period of time), I agree there should be a limit set by law as part of consumer protection. The main problem with doing this, however, is that setting interest rates is the main way that central banks control the economy. I think setting a cap on the interest rate is like saying we will put some bandages on that nasty wound in order to limit how much blood spills out on the floor. It really doesn't get to the root of the problem!

Yes, I wonder if the limit should be set at a certain amount and plus the CPI. High interest rates are a societal tax on the poor and unfortunate.

Usury is slavery and you won't replace it outright, we owe $60billion people! You need to implement a New Zealand energy credit in parallel, and get the domestic economy functioning and people out of poverty. If necessary mine bitcoin with the surplus energy and pay off the debt. By sitting tight with a sustainable steady state New Zealand energy credit and waiting for the market to shit itself, which invariably it will do, will become tech savvy, innovative and forward thinking. We are not too big to fail but we are small enough to survice if we think of the New Zealand energy credit as a means of ensuring a UBI and sustainability.
steadystate.org kilowattcards.com

@jamesabbott I like the idea of having some interim provisions in place that are designed to extricate ourselves from the current debt-slavery. As long as we don't lose sight of the much bigger goal of making a whole new societal structure that really serves the New Zealand public at large, and allows us to become a super-charged economy of innovation and progress...I'm happy :)

The answer is simple. Repudiate all our National Debt while at the same time issuing new money into the economy from the Reserve Bank.

If you dont want to go that far, then repudiate all interest due on loans to banks, so that only principal must be paid back.
Only repudiation and Sovereign National Money Creation (Social Credit or whatever system to take control over the National money supply) together can save this country and every country.

You can't repudiate national debt unless you have a system of Sovereign National Money Creation to replace the credit that International Bankers will forever withdraw.

@wadevuglar there is a large discussion about how money can be introduced using a Value-based Economy + Stateful Money, which are covered in two other proposals within this group. Your comments would be appreciated.