Biggest financial scam in history

samclam

Conrad wrote: »

If there was no demand, we would'nt pay the interest.
Why don't you set up a new money storage company and show us all how it should be done.

It's gone to far for the whole economy to just stop borrowing. Over time 99% of the money in circulation has become debt, so if we stopped borrowing the whole economy would come to a halt.

We need a new system to transfer to. A new system needs to be 100% owned by the people that use the money not a small private group of share holders. Here's a very interesting article about how a guy offered to teach California how they could set up their own Bank and solve their financial problems but they were too dumb or corrupt to listen: globalresearch.ca/index.php?context=va&aid=12522 . Because North Dakota own there own Bank, they avoided most many of the problems associated with this financial fiasco.

I think the best solution is to force government to restructure the entire system. That would be more achievable than trying to create a competing system. We can obviously use our own small local schemes like Lets etc. We could also start moving all our savings into Gold & Silver coins which would give the Banks a huge wake up call.

Conrad

nearlynew wrote: »

congratulations on completely missing the point.

So the good parts of Banks survive. Then who picks up the tab for the trillions in bad losses from the bad parts?

Will the public be happy the good parts can carry on as if nothing happened? How is that not public ressucitation then?

kennyboy66_2

samclam wrote: »

It's gone to far for the whole economy to just stop borrowing. Over time 99% of the money in circulation has become debt, so if we stopped borrowing the whole economy would come to a halt.

We need a new system to transfer to. A new system needs to be 100% owned by the people that use the money not a small private group of share holders. Here's a very interesting article about how a guy offered to teach California how they could set up their own Bank and solve their financial problems but they were too dumb or corrupt to listen: globalresearch.ca/index.php?context=va&aid=12522 . Because North Dakota own there own Bank, they avoided most many of the problems associated with this financial fiasco.

I think the best solution is to force government to restructure the entire system. That would be more achievable than trying to create a competing system. We can obviously use our own small local schemes like Lets etc. We could also start moving all our savings into Gold & Silver coins which would give the Banks a huge wake up call.

But surely the Bilderberg group / Rothschilds / Gnomes of Zurich, will never let this happen.

Conrad

Building Societies are owned by local members. But not everyone uses them - often those organisations are deemed unhelpful / too conservative by the yound entrepeneur for example.

samclam

Conrad wrote: »

... who picks up the tab for the trillions in bad losses from the bad parts?

.. ever heard of debts being "written off" when a company goes bust? The risks of investment banking have no business being socialized!

There is a suggestion that China will allow it's businesses to not honor US derivatives contracts. And the people of Iceland have demanded a moratorium on their national debt so that they don't become tax slaves to the IMF for the rest of time.

wrote:

... Building Societies are owned by local members.

Credit Unions may be a purer example. The point is 99% of money is in the form of debt which we have to pay interest for and things should not be this way. Some of the original US colonies issued their own currency without paying someone else interest for it and they did very well until the King of England attacked them over it.

kennyboy66 wrote: »

But surely the Bilderberg group / Rothschilds ..

That's why we never hear these ideas in the main stream news.

chucky

samclam wrote: »

Did you know China has told it's businesses that they don't have to honor any US derivatives they own.

i've highlighted some key words in your forumonics analysis that may give some context to your world of fantasy... :rolleyes:

Much of it came down to a story put out by China’s Caijing magazine, which suggested the country’s state-owned Assets Supervision and Administration Commission (SASAC) might consider reneging on commodity derivative contracts that were now relatively deeply out of the money.

http://ftalphaville.ft.com/blog/2009/09/01/69256/chinas-derivative-threat-causes-a-stir/
there is a bit of difference between "China told it's businesses" and a magazine running an article that it was "suggested" and it "might consider" these actions.

samclam wrote: »

That's why we never hear these ideas in the main stream news.

probably because they're not true and you've made them up?:rolleyes:

purch

Here's a very interesting article about how a guy offered to teach California how they could set up their own Bank and solve their financial problems but they were too dumb or corrupt to listen

The problem you have when you take the rantings of American Bloggers, and try to apply them to the U.K. is that these 'Bloggers' look at all things in terms of the U.S.A.

The U.S. has a written Constitution. It lays down 'rules' concerning the currency, and who 'owns' the currency, rules which for many years the U.S. Governments have totally ignored, which is why these 'bloggers' get their knickers in such a twist.

We do not have a similar Constitution, and no clear rules about how our currency is created, nor who 'owns' the currency.

samclam

chucky wrote: »

.. "China told it's businesses" ..

It depends where you read your news:
investment-blog.net/chinese-to-destroy-feds-by-refusing-to-honor-fraudulent-derivatives-contracts
but to play on the safe side I've amended my post.

I'm mainly concerned with making these points:

1. We shouldn't be paying for the debts incurred by investment banking activities. Let those debts be written off.
2. The banks are not helping the economy because they have cut lending so heavily.
4. All this money printing (bank bailouts) will make us much poorer via any combination of the following: higher future taxes, reduced public spending, inflation and a devalued £.
5. Our Fractional Reserve Banking system puts too much wealth and power in the hands of a few private organisations.

purch

I'm mainly concerned with making these points:

1. We shouldn't be paying for the debts incurred by investment banking activities. Let those debts be written off.
2. The banks are not helping the economy because they have cut lending so heavily.
4. All this money printing (bank bailouts) will make us much poorer via any combination of the following: higher future taxes, reduced public spending, inflation and a devalued £.
5. Our Fractional Reserve Banking system puts too much wealth and power in the hands of a few private organisations.

Point 1. No we shouldn't be, but writing them off would have it's own perils

Point 2. Agree

Point 3. I disagree 100% :eek:

Point 4. Agree, but what is a better alternative than the current QE program?

Point 5. Agree, but would any other system leave us better off ?

P.S. You don't get 'News' from a Blog. A Blog is an opinion, nothing more, nothing less !!!

samclam

purch wrote: »

American Bloggers, ...
no clear rules about how our currency is created, nor who 'owns' the currency.

I wasn't quoting bloggers. And the guy who offered to help California 'Robert Ellis' "worked on Wall Street and has been involved in setting up several banks".

If you follow the financial markets they are so in sink with each other it's uncanny. The various central banks all talk together and many of their decisions have been coordinated of late. The UK's notorious for kissing America's behind and we only did well for the last decade because they passed so much of their unregulated banking over to London. I think we have enough in common to learn from what is happening there.

Why are people on this forum more interested in picking holes than addressing the overwhelming issues at hand?

The only reason I started this thread is because I'm concerned for our future.