Bank collapse a good thing for many

Hi there,

I thought I would just state something that may not have been considered here about the current state of the global financial meltdown.

For some this may be a good thing let me explain..

The situation for many, certainly in the UK is people owe the banks money... lots of money, their bank balance is always in the red, their wages are always eaten by an overdraft and the minimum payment on their credit card bills is all they can afford and this just barely pays the interest.

Critical point.... they also don’t own their own home and have no equity....
So the banks fail, they collapse under the weight of compound interest, people that have money there panic and the bank runs begin... queues become a mile long and all of a sudden the banks doors are being locked and the ATMs are reading unavailable...

Yep the S has really hit the Fan and those that have planned ahead and stashed reserves will be more buoyant, yep marshal law and yep civil unrest ensues...

Now, some state that this is the pre cursor of ~NWO~ and the government will bail the banks and effectively own the agreements you made when taking out loans / Credit cards etc.. This could then be used against you to either remove you from your property or force some element of repayment through taxation etc..

But...

If they did decide to try and take you to task over non payment of debt you can produce a statement of insolvency, you don’t have to go bankrupt personally for a court to rule a payment of £1 a month.

The crux here is preparedness. Stash supplies....

All the best,

NeoN HaZe


[edit on 5-3-2009 by Neon Haze]

Without a total system collapse there can be no better system implemented...for this reason I say down with the old and in with the new.

The people in the US who who bought half million dollar homes, and a lot of those people lied on their applications, although in many cases the real estate agent/lender encouraged this, they knew that those interest rates were going to climb, but now they are making out like bandits at our expense, going to get their mortgage payments cut down to 30 percent of their monthly income. The sensible people who chose to live within their means has to pay for all this crap. I know one lady, she's crooked to begin with, who had her 23,000 second mortgage totally dismissed last month by Beneficial Finance.

I am sick to death of this crap, it just keeps piling up day by day by day.

Historically, situations like this hurt almost all of society except for the upper middle class. In almost all recorded points, the New Rich will typically become the rich after these type of alignments. They are the ones who don't lose everything and aren't the ones attacked by the government for their money.

So, I think that, though 85% of the nation will be vastly affected negatively, there are some parts, historically speaking, that will benefit. That is, if they have their financial ducks in a row and can capitalize on new opportunities in a new market.

Originally posted by Bombeni
The sensible people who chose to live within their means has to pay for all this crap. I know one lady, she's crooked to begin with, who had her 23,000 second mortgage totally dismissed last month by Beneficial Finance.

I am sick to death of this crap, it just keeps piling up day by day by day.

I do hear what you are saying, and yes there are some that were just greedy but that is not the majority of cases here in the uk.

Here Taxes have risen so much either directly or by stealth that most find that over time their debts get higher naturally as they can’t afford to live.

Lose your job and it takes a month or two to get back working and that cost isn’t picked up by the social it’s normally taken onto credit etc. Forced to move to find work, another expense. Your car breaks down unexpectedly another expense. Your kids need a new school uniform or shoes another expense...

Over time your debts mount, not through greed but through just being in the system.

See what I'm getting at?

All the best,

NeoN HaZe

The free market is finished,if they brought in a new system then i think it is going to be more corrupt then this one and will give them more control.
I personally want it to crash and no I have no debts and i don't use credit.
I want it to crash for the reason that they might not be able to control things and people if it does happen and the people might actually gain control back and have a free market again.
Its too manipulated to keep going...we lost the free market system because of these greedy arseholes and need to take it back one way or another.

It has to collapse. It is inevitable. All they are doing is delaying it. Good thing is that we all have a clean slate to work with, bad thing is that you have to be able to protect your assets in order to keep them. Or else people are going to steal it all from you.

I personally don't want it to collapse, but I also feel like it has to happen if we want to change anything. So I'm torn but, collapse is on the horizon.

There are still steps that can be taken to prevent a total collapse. Granted, what will come out of it will not be the same, but, it does not have to mean the total collapse of Western Civilization. I'd say the chance of that happening is fairly low. So, "inevitable" may not be the best word.

On that, however, I don't have some genius plan to get out of it, but I hope there are smart people in Washington who do. Though... my faith in such individuals is stretched to the breaking point at the moment.

Unless things utterly collapse, and I mean apocalyptical dissolution of society, government, and the system as a whole, some corporation or entity is going become ridiculously wealthy as we climb out of this. The reason for that is that these failed banks' assets will not evaporate, they'll be auctioned off at insanely low rates considering the current levels of fear and uncertainty. Those who owe will still owe, only they'll owe to a different master. Its like a slave wishing their current slave owner was dead, only to realize that after said owner dies, all his slaves are auctioned off rather than freed.

As opposed to government meddling as I am, I sincerely think now is the time for the government to place a federal cap on purchased debt values.

I say that because, as banks and lenders go belly up and their assets are sold, there will be attempts at massive debt gobbling by various financially able institutions (possibly even individuals) for pennies on the hundreds of dollars. Without regulations on this, I can see the potential for a person like Buffett to sweep up hundreds of billions of dollars worth of debt, spending a fraction of his wealth, and even if only 25% of the overall face value of that debt materializes, making an unprecidented profit off of it. We could honestly see an individual holding a veritable monopoly of foreclosed properties as well as receiving a huge monthly intake of cash from those still paying their debts.

Like I said, the capitalist in me sees the idea of regulating this as being unfortunate, but the alternative would allow the creation of individuals who wielded unthinkable power and control.

I read statements of people saying the economy will collapse it must collapse it will be better if it collapses. I read other statements/threads that say the Illuminati have PLANNED for an economic collapse.

What is the deal? Why would the Illuminati want the system to collapse? How would that be of benefit to "them"? For those who say we will be better off, why do you believe that?

I want to understand what is happening and why, if it is even possible for anyone to say. I'm not sure any of us knows come here from sick'em right now.