About those evil, evil bankers
Discussion
ringram said:
Get a copy of the FSA PDF dude.
I did. You apparently have little background knowledge of what's happened; you really should know what reputation the FSA has and why it got it before believing their every word.ringram said:
Its widely accepted that banks extract more than they give to the economy.
No it's not. Are you saying that the countless billions in investment and economic output they facilitate is outweighed by the few bn they take as a fee?
ringram said:
...zerohedge.com...
Ah, I think I see the problem.ringram said:
There are articles by central bankers...
...who have every incentive to point fingers elsewhere.ringram said:
Anyway Ill let the govt and the FSA.. while it lasts, wield the axe.
Based on what exactly? Got your best interests at heart, have they?
ringram said:
ZondaMark said:
ringram said:
...hardly anything in productive terms...
Can you substantiate this? ringram said:
Legislate them into zero risk utilities!
Something tells me you don't realise what this actually means in practice.ringram said:
Not my words, but discussed at length in the FSA's recent publication "The future of finance"
Well if the FSA says so it must be right then. After all, they've never got it wrong before, have they? And of course, they've no reason to jump on the banker-bashing bandwagon, have they?Anyway Ill let the govt and the FSA.. while it lasts, wield the axe. Its time to restructure the economy to more productive means. That does not mean banking IMO!
In the very simplest of terms this is why for 2000 years a country's economy has always collapsed when they have kicked the Jews out so as to avoid having to repay the money they borrowed.
One of the most significant examples being the end of the Spannish as a colonial empire and the fact that it has only recent started to reverse that 16th century decline on the back of building back up a significant banking sector.
The decline of Frankish Italy and Genoa and Venice is also inextricably linked to the rise of other European states as banking forces, thus removing their enormous competitive advantage.
Napoleon was smart enough to realise this and he kept the Rothchild family very close.
Sadly, as a small island off the coast of of Europe a large, dominant and strong banking sector is absolutely crucial to maintain our supply of plasma TVs and roofing slates.
This banker bashing of recent years is an identical mechanism to the systemic anti Semitism of previous centuries in Europe. As always it is a mechanism used by Govt to steer the peoples' wrath in a singular direction and away from them. Another piece of history that will always repeat.
DonkeyApple said:
This banker bashing of recent years is an identical mechanism to the systemic anti Semitism of previous centuries in Europe. As always it is a mechanism used by Govt to steer the peoples' wrath in a singular direction and away from them. Another piece of history that will always repeat.
I'm glad I'm not the only one who is/has partially formed the opinion that being 'anti-banker' is the new, acceptable, form of being anti-Semitic. The great unwashed have always treated any money lender as a means to an end, to be 'dealt with' when repayment time goes or they stop lending. I would however like to see more 'good news' coming from the banking sector, even if it is in the form of 'effectively repaid' type statements as Joe P will always think that Grody popped round that evening with a few suitcases, even if the reality was somewhat different.
I dont disagree that banks provide essential services. Its the casino type proprietary trading etc with depositors money and monopolistic "to big to fail" guarantee's and barriers to entry that I disagree with. Wipe them out, or split them off, and with proper capital ratio's and lowered barriers to entry things might be better. No good Mr Fatty blaming the cook for feeding him too much lard and making himself sick.
ringram said:
Its the casino type proprietary trading etc with depositors money and monopolistic "to big to fail" guarantee's and barriers to entry that I disagree with. Wipe them out, or split them off, and with proper capital ratio's and lowered barriers to entry things might be better. No good Mr Fatty blaming the cook for feeding him too much lard and making himself sick.
But these 'casinos' they provide so much work for IT Consultants in London .. so is it a whole food chain of Fatties that you want to anihilate? (and besides, they will and can easily move to another capital)Edited by fido on Thursday 19th August 14:08
I don't think you can just start again can you. Fractional reserve banking is pretty w
ky for several reasons, not least that it seems a bit unfair that if I give the bank money, they can then lend it out to 10 people, each of which pays more for the privilege that I receive when it's my money in the first place. It raises the question; "Why can a bank lend money they don't have, yet I cannot?" That seems very unfair.
But, if you decide you want rid of the system what you're effectively saying is that you want to take 90% of the debt out of the economy, that is everyone needs to pay 90% of their loans back now. What's that going to do? Or could you just write off the made up part of the debt? How would that pan out? Fractional reserve banking means there might not be enough value in the economy to cover the debt?
Thoughts?
Cheers.
ky for several reasons, not least that it seems a bit unfair that if I give the bank money, they can then lend it out to 10 people, each of which pays more for the privilege that I receive when it's my money in the first place. It raises the question; "Why can a bank lend money they don't have, yet I cannot?" That seems very unfair.But, if you decide you want rid of the system what you're effectively saying is that you want to take 90% of the debt out of the economy, that is everyone needs to pay 90% of their loans back now. What's that going to do? Or could you just write off the made up part of the debt? How would that pan out? Fractional reserve banking means there might not be enough value in the economy to cover the debt?
Thoughts?
Cheers.
Rude-boy said:
DonkeyApple said:
This banker bashing of recent years is an identical mechanism to the systemic anti Semitism of previous centuries in Europe. As always it is a mechanism used by Govt to steer the peoples' wrath in a singular direction and away from them. Another piece of history that will always repeat.
I'm glad I'm not the only one who is/has partially formed the opinion that being 'anti-banker' is the new, acceptable, form of being anti-Semitic. The great unwashed have always treated any money lender as a means to an end, to be 'dealt with' when repayment time goes or they stop lending. I would however like to see more 'good news' coming from the banking sector, even if it is in the form of 'effectively repaid' type statements as Joe P will always think that Grody popped round that evening with a few suitcases, even if the reality was somewhat different.
It's why the Bible was re-written in later gospels once the Church had been politiicised by Constantine to make mention of evil money lenders etc.
Christians could not borrow money from other Christians and so the mechanism of borrowing via the Jews was created. The same as in Islaam.
The trouble is that throughout history the Western royalty, govt, businesses and people have had a habit of borrowing too much and thus you had various acts of expulsion of Jews from countries periodically. The royal houses and govt, being broke, had to raise taxes on the people but kindly explained that it was the fault of the Jewish money lenders who they had kicked out to protect the people.
A similar event occured witht he Templars who had become money lenders to the Pope and Frankish kings. One Friday 13th the Pope had them all rounded up, cast as heretics and killed, thus solving his debt problem overnight. It's why Catholics see Friday the 13th as lucky and others rather the opposite.
In MediEvil Europe the people were extremely uneducated and fell for it every single time, then got taxed to s
t. Obviously, modern European workers are far more educated and so would never fall for such rudimentary brain washing. 
paulrockliffe said:
It raises the question; "Why can a bank lend money they don't have, yet I cannot?"
Thoughts?
Cheers.
And here is the answer:Thoughts?
Cheers.
1. Go to your bank and get an unsecured loan for as much as you can.
2. Lend it out at a higher rate via Zoopla of even to a derivative trader or property developer etc etc
Now, ideally you want someone else to carry out Step 1 for you .
DonkeyApple said:
paulrockliffe said:
It raises the question; "Why can a bank lend money they don't have, yet I cannot?"
Thoughts?
Cheers.
And here is the answer:Thoughts?
Cheers.
1. Go to your bank and get an unsecured loan for as much as you can.
2. Lend it out at a higher rate via Zoopla of even to a derivative trader or property developer etc etc
Now, ideally you want someone else to carry out Step 1 for you .
ringram said:
NoelWatson said:
ringram said:
Its the casino type proprietary trading etc with depositors money
?NoelWatson said:
ringram said:
NoelWatson said:
ringram said:
Its the casino type proprietary trading etc with depositors money
?
this is like watching a kid with a magnifying glass tormenting an ant. 
No what I'm suggesting is to reduce the risk and leverage in the banking sector to try and avoid credit fueled binges & therefore crashes in the future. There is a lot of brain power in the city. It would be much better employed in technological advance rather than self gratification. Thats only my opinion, though also held by many others.
I just cant see how its use of human capital helps mankind over and above other more valuable pursuits, such as colonising the universe, or developing enzyme produced fuels etc. I believe it represents a large opportunity cost.
I just cant see how its use of human capital helps mankind over and above other more valuable pursuits, such as colonising the universe, or developing enzyme produced fuels etc. I believe it represents a large opportunity cost.
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