Your idea works great as described. The system has grown beyond that though. Capitalists receive these IOUs because they own a portion of a company that owns a thing that neither the company nor the capitalist has ever had anything to do with. They receive these IOUs in perpetuty, but they never provided any contribution to the creation of anything.

Then you stack this a billion times, with IOUs servicing IOUs, amplifying the amount of IOUs, and skimming IOUs at every point from people who actually do the work, just to increase the number of IOUs held by a handful of people, until those people who contribute nothing, now hold the majority of the worlds IOUs.

This is fucked.

It's pretty obvious, it's right there in the name, capitalism.

Shit sucks.

That's absurd. Reporting super details to the government for 80,000 Australians would not be a significant ongoing cost for any competent provider.

There would be an initial cost to develop the reports, the ongoing cost would be minimal as it would be spread across the existing costs to maintain their reporting infrastructure.

If somehow this is true for some super providers, you should avoid those providers as they are already operating with incredible inefficiency.

I do wonder how it would work for those in defined benefit schemes, but I doubt any of those are above the $3m threshold.

He should be fine, his Australian girlfriend should help him out with the normal stuff here.

One thing that might be useful, when visiting the US many Americans would express concern about Australian spiders. I explained that it wasn't really much of an issue, you just make sure to check for spiders before putting your hands in places, putting on shoes, etc.

The shoes thing seemed particularly outrageous to them. It's pretty simple though, you just look at your shoes before putting them on. Any spiders in there? Any sign of webs? Don't put them on. Easy!

Thanks for sharing!

I hope the creator makes this available as a kit. I've been wanting to build my own radio for awhile now.

I've been having a hard time deciding if I want to build a superhet or a direct conversion radio. This might nudge me more to the direct conversion side.