"Wow. I never thought my little rant would garner so much attention."
C'mon man, of course you did, that's why you called the thread what you did, no?
But yes, another poster has mentioned fractional reserve banking, that's what Occupy was originally about. (though it has gotten sidetracked into many
other issues, for whatever reasons). Creating awareness and expressing anger at the injustice, unfairness and even illegality of the the actions of
Wall St and the banking system that crashed the economy, for which no one has yet been punished. (in fact many of them were rewarded; not only by
keeping their jobs, but in actual million-dollar bonuses). As both Presidential candidates are funded heavily by Goldman Sachs, to name just one, it
seems likely no one ever will.
So, how do banks benefit from intentionally lending money to people who can't pay it back?
Well, first of all, it is insured (which is another scam anyway...), so if they don't pay it back, bank wins.
Second of all, and this is the most important, they create imaginary money - it never existed - that the lender must pay back in REAL money. And pay
back at least double the amount that was borrowed.
Think about that...They created the money they lend you at the touch of a button, but the money you pay back has real value, the number of hours,
weeks, months, years worked to earn it...YOU couldn't just touch a button to produce it in order to pay it back...and if YOU did, what would happen?!
Hardee Har Har...
Well, you say, we're paying the bank to assume the risk...But, what risk? It's insured, so...?
And what risk is there in lending money that does not exist, never did, and only will exist once it is paid back?
This might have made sense at one time, when banks actually had to have a certain amount in reserve to cover the depositors money should they come to
withdraw it. But, that is not the case anymore, and hasn't been for a long long time. The banks just create money out of thin air. It is LITERALLY no
more than a pyramid or ponzi scheme.
(the banks are 'allowed' to create about 10 imaginary, loan, dollars for every 1 dollar they have, hence the name fractional reserve banking.)
And that is only a very small part of the story. Once you throw in Wall St and the speculators, and the insurance companies and toxic loans...man,
it's so complicated and cluster#ed, and that's exactly how they want it. If more people understood it, (the aim of the Occupy movement, remember?)
they would be out in the streets with them, not ridiculing and hating them.
Here's an interesting quote:
"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution
before tomorrow morning. " Henry Ford
I've heard it said that after the crash of 1929, bankers had to go around with bodyguards. People hated them that much.
This isn't a new thing, but it has gotten much much worse, in terms of what the banks and Wall St are allowed to do, let alone the illegal things they
get away with, are not punished for. And somehow, the knowledge of this, how things actually work, has been kept from of the regular person's
awareness for the most part. And real people are suffering on account of this imaginary money. And it's not the right people suffering, the ones who
cause the problems. How come the banks get bailed out, but regular people don't? Especially when the 'money' doesn't actually exist?
I'm going to collect some things for you or anyone else interested to read, but first I'll post a couple of videos that explain things in a humorous
"How does the financial system work?" 2min42sec
"Clarke and Dawe - European Debt Crisis", also called "World Collapse Explained in 3 Minutes"
edit on 31-10-2012 by curiouscanadian777 because: add comment
edit on 31-10-2012 by curiouscanadian777 because: add