FRIHOST • FORUMS • SEARCH • FAQ • TOS • BLOGS • COMPETITIONS
You are invited to Log in or Register a free Frihost Account!


banks rob us





manfer


What do you think about this? It is pretty obvious and much more on last years that something is rotten in the global banking system.

Not to mention the, at least morally deplorable, world of tax havens.
manfer
Incredible that noone has nothing to tell about this. Are we so blind? Is it because it is said by a kid that you don't trust it?

I will explain you how it works in Europe
----------------------------------------------

The European Union has a Central Bank. This bank is a PUBLIC bank. Its money comes from the taxes of each and every citizen of the European Union. This must be very clear. The money of the Central Bank is public money, this bank is public, all europeans are the owners of this bank. Clear?. Is it clear till now?

Well, what would be the common sense way to proceed would be that this bank granted credits to european citizens, european enterprises. But... They decided that they can't do that because people are very wasteful, especially in Southern European countries, so they prefer to give that credit to PRIVATE banks at 1% so this banks give the credits to people and even governments. Now each government to finance themselves sells debt at a percentage depending on its risk premia -I don't know english translation but this mean if the market things a country is late returning back the money then the bank ask for more money in return, more percentage- For example nowadays this private banks can buy debt of a country if it its at a high risk at let's say 15%.

So, let's analyze it with a ficticious example:

* All citizens of European Union give money to Central Bank. 100€

* The Central Bank gives that money to PRIVATE Banks. 100€ and they have to return 101€

* This Banks buy 100€ of an european country debt at 15% -this is ficticious but can reach this value in some cases-. They give 100€ -of money that already were owned by that people- and that country has to return 115€. They give 101€ back to Central Bank and they win 14€.

So, Banks rob us?
zaxacongrejo
they rob you when they charge tou 100$ year to matain an account
by this i mean card fees etc all included
Possum
The thing is that you accept what the banks do to you... I guess me too...

But can you blame the banks and the bankers. I say NO.. Its our fault. Because we let them do it..We vote the politicians in that work on behalf of the bankers. I live in New Zealand and our Prime Minister worked for the Merrill Lynch bank. ok I never voted for him, but I need to tell others what he is about and know my subject so well I can change them..


Becoming aware is the first step..
Telling others is the second step.

But there are many steps to go....

Maybe.. Bitcoin!!!
zaxacongrejo
Hi and you are right but there’s almost nothing citizens can do about it just get conscious of the fact and complain with them, but you will be losing your time
A curiosity
When I was I don’t remember the exact age but about 16 I remember my bank account went to -1 and they applied me a fee of 12 $ loll because of 1 cent
D'Artagnan
any fee charged by a bank is robery, since they use our money to receive interest.

Quote:

The thing is that you accept what the banks do to you... I guess me too...


i disagree a lot, for you to keep yourself from using banking services here in brazil (and i believe in many other countries) you would have to be a hermit... companies and the government use the banking system for basic services, to have a job you must have a bank account. there is no option.
darthrevan
I don't use a Bank,m per se, but I do use a Credit Union, I prefer the credit union any time. I have never stayed with a bank, and now I found the credit union I like the most.
zaxacongrejo
Quote:
i disagree a lot, for you to keep yourself from using banking services here in brazil (and i believe in many other countries) you would have to be a hermit... companies and the government use the banking system for basic services, to have a job you must have a bank account. there is no option.


same here in europe

and more not only bank accounts, you may join mobile phone,and internet and the fees

for phones minimum 12$ month

internet 40$
bluepig83
It's really your own choice if you want to get "robbed" by a bank. Really, there's no one forcing you to deposit money with a bank if you chose not to. But if you stick your money under the mattress, that's your own loss b/c you are missing out on the interest. You talk about fees. There are a number of banking services out there that are free. I deposit my money with banks - for no charge. Sure, the interest I earn on these accounts aren't that great, but I'm earning interest. If you kept that money yourself, you would earn nothing. If you're not happy with the services your bank provides, then don't use it and find another bank. Look into credit unions. I personally bank with a national chain b/c of the convenience of ATM withdrawals. If you get slammed with fees or go into debt, really, that's your own fault. You had could have chosen not to transact with the banks.
nickfyoung
Legal crooks I call them. I had to book some air travel online and transferred money from my account into my credit card to make the payment.
My credit card was in credit now. The airline did not accept my credit card so I had to transfer my money from my credit card to my wife's credit card which was a different one.
That way I was able to buy the air tickets.
When I got my bank statement I found that the bank had charged me $100 as a cash withdrawal fee for taking my own money from my credit card.
They are good!!!
manfer
bluepig83 wrote:
It's really your own choice if you want to get "robbed" by a bank. Really, there's no one forcing you to deposit money with a bank if you chose not to. But if you stick your money under the mattress, that's your own loss b/c you are missing out on the interest. You talk about fees. There are a number of banking services out there that are free. I deposit my money with banks - for no charge. Sure, the interest I earn on these accounts aren't that great, but I'm earning interest. If you kept that money yourself, you would earn nothing. If you're not happy with the services your bank provides, then don't use it and find another bank. Look into credit unions. I personally bank with a national chain b/c of the convenience of ATM withdrawals. If you get slammed with fees or go into debt, really, that's your own fault. You had could have chosen not to transact with the banks.


I really don't understand this answer as most people can't decide to don't use banks at all. Most people has not the money to go and buy the car they need to go or to do their jobs and have to ask for money to a bank. Most people have not money to buy their home and ask for money to banks. Most people don't have the money to earn a medical surgery and they have to ask for money to banks... Banks are not only to deposit your money.

But the point of the story is not that. The story is that our governments are lending XXX money to banks (our money earned from our taxes) that they have to return for YYY money and them banks use that money to lend it to citizens and when they lend XXX to a person they ask in return ZZZ that it is much more than YYY and many more than XXX when the XXX money was already ours, the money was from citizens taxes.

And not only that, the governments themselves are asking for money to banks for their own finances, sure you have heared about the public countries debt, risk premiums and all that crap from this stupid growth economics system we are forced to leave in and that we hear on news these days so much.

So no matter if you try to don't use bank services, your money (taxes you pay for everything you do, from buying your food to taxes on your earned money from your work) is used anyway in banking system no matter you want it or not.

It is not about the debt you can have as an individual it is about the debt you are forced to pay as a citizen from a country. The debt your own country pays to banks with your taxes. You want it or not.
jajarvin
A bank is vital to capitalism.
zaxacongrejo
Quote:
A bank is vital to capitalism.


sure i agree but they can play fair with us dont they?
mikeperhem1
Banks are best to save our money. It's doesn't matter if they charge some amount for that.
zepwa
bank charges interest, that the problem

interest is the problem, because it create money of the thin air.
the value is the same, but the quantity isn't, what happen next? you guess it, inflation.. and deflation. both are harmfull to people.
inflation charges the customer, deflation charges the producer.
who win then? the capital itself is the winner, which is the money. because it can replicate its amount relatively unlimited.
then the master of the game is the owner of the money. who is it then? central bank, yes. but also all bank and any financial institution who charges interest.

people deposit their money to get interest, people lend their money to get interest. people who borrow money pay interest from money of other people who get that money from interest also, so certainly in the end it should have loser in this game. like pyramid scheme, never ending cycle of greed. the difference is it take slow because interest is not high enough, not like ponzy which the interest was too damn high. but slow or not fast, the end is the same. the gap between riches (upper pyramid), middle (middle pyramid) and poor (bottom of pyramid)
thats the problem.
standready
The money system of the world has been screwed up by greedy management and corrupt governments backing them.
Here in the US, you are lucky to get .1 percent interest on your savings. Probably better to invest in bank stock.
tonberry
bluepig83 wrote:
It's really your own choice if you want to get "robbed" by a bank. Really, there's no one forcing you to deposit money with a bank if you chose not to. But if you stick your money under the mattress, that's your own loss b/c you are missing out on the interest. You talk about fees. There are a number of banking services out there that are free. I deposit my money with banks - for no charge. Sure, the interest I earn on these accounts aren't that great, but I'm earning interest. If you kept that money yourself, you would earn nothing. If you're not happy with the services your bank provides, then don't use it and find another bank. Look into credit unions. I personally bank with a national chain b/c of the convenience of ATM withdrawals. If you get slammed with fees or go into debt, really, that's your own fault. You had could have chosen not to transact with the banks.


It doesn't matter. You are talking about your direct personal perspective. The subject is about long term country perspective, about the chain of events that send countries into dependency on bankers and on the verge of bankrupcy. I'm sure many Greeks thought the same way you did just now - I'm covered, I think smart, I don't lose. And look where they are now, often they couldn't even get access to their own money because their lovely banks were blocking them and now a giant disaster hangs over their heads.
deanhills
I think most of those "failing" countries like Greece opted into the EU because they thought they would be able to make money. In the end they probably found that it is not that easy and that your large European industrial corporations like to keep most of the business to themselves.

I don't know where Greece scored in the end other than to become indebted and a slave to the European Union.

How any of the smaller countries could ever think they could be equal to large countries like Germany and France in business dealings without losing big time, I cannot understand. For me there is only one rule. The super rich are getting richer at the expense of the poor who are getting poorer. Going on all over the world.
tonberry
Well said. We are being blinded by the "unity", "equality", "human rights" bullshit while the rich are feeding at our costs. Despite media telling us how EU supports us by splashing extra cash each year, it is actually my country Poland that pays them around 2 billion zl per year, we make awful lot of economical compromises and it always comes our way - when it's time for Germany or France decision when they can sacrifice so that others could benefit, they ALWAYS shit on us. The whole European Union is a parasite, banker's paradise.
afsoeiro
I will try to be brief here... Money is an asset just as any other. To do stuff, to buy stuff, you use money. Money then is subject to the offer/demmand law. More money available to borrow, cheaper interest rates. Less money available to borrow, expensive interest rates, that are the cost of money.
Then, in order to not be a puppet in the banker's hands, don't borrow money. Use only the money you earn from your hard work, and even save some extra for any emergency. But, always, money as an asset will have it's cost.
Insanity
You should just keep all your money in a shoebox under your bed. That would be the safest way to hide your money. you won't earn any interest unfortunately.
Related topics
Workplaces ready for day without immigrant staff
Racial Equality
What poses the greatest danger to the U.S.?
Have people become too selfish???
Islamic claims of world rule
Have you ever been robbed?
WHATS WITH THE "US ECONOMY WILL DIE IN 5 YEARS" BU
Biggest Bankruptcy in History
BBC Headline :US warns of further bank failures
Democrats to increase tax burden over $5,000 per taxpayer
Who Watches The Watchmen?
Irish government gone down the drain
Capitalism - Communism Scale
moderator forum
Reply to topic    Frihost Forum Index -> Lifestyle and News -> Economics and Marketing

FRIHOST HOME | FAQ | TOS | ABOUT US | CONTACT US | SITE MAP
© 2005-2011 Frihost, forums powered by phpBB.