The War on Cash Escalates: The Goal Is to Force You to Deposit Cash and Charge You Interest

ttystikk

ttystikk

Well-Known Member
So let's see... a bank wants to use my money in order to earn money- loans- by using money from the Federal Reserve- created just for them, and then they want to CHARGE me for using my money??

Because average account holders are riff raff and the banks simply want rid of them. That's most of US. Their most profitable customers are the wealthy few, whom also get all the perks our fees are paying for.

Their greed is astounding and they should be made to feel publicly ashamed of themselves. Right before they get fired.

Unfortunately, since the bankers enjoy a cozy revolving door relationship with all of their government regulation, oversight and law enforcement divisions, they will make certain they aren't held accountable for these and other transgressions.

Maybe it is time for rioting in the streets. The politicians certainly don't care about the plight of the average person; that's not where their campaign funding comes from and more than ever, it isn't even their voting constituency.
 
Harrekin

Harrekin

Well-Known Member
ttystikk said:
So let's see... a bank wants to use my money in order to earn money- loans- by using money from the Federal Reserve- created just for them, and then they want to CHARGE me for using my money??

Because average account holders are riff raff and the banks simply want rid of them. That's most of US. Their most profitable customers are the wealthy few, whom also get all the perks our fees are paying for.

Their greed is astounding and they should be made to feel publicly ashamed of themselves. Right before they get fired.

Unfortunately, since the bankers enjoy a cozy revolving door relationship with all of their government regulation, oversight and law enforcement divisions, they will make certain they aren't held accountable for these and other transgressions.

Maybe it is time for rioting in the streets. The politicians certainly don't care about the plight of the average person; that's not where their campaign funding comes from and more than ever, it isn't even their voting constituency.
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Moar capital, moar rewards/incentives.

Stop hating the rich, blame ridiculous regulations from destroying the "everymans" ability to start businesses.

Here you can register a name, register for taxes and get licenses within a couple weeks (barring certain obvious industries; tobacco, alcohol, pharmaceuticals, etc).

I could start a business, run it for two weeks and then give up once my ROI target has been achieved.
 
reddan1981

reddan1981

Well-Known Member
ttystikk said:
So let's see... a bank wants to use my money in order to earn money- loans- by using money from the Federal Reserve- created just for them, and then they want to CHARGE me for using my money??

Because average account holders are riff raff and the banks simply want rid of them. That's most of US. Their most profitable customers are the wealthy few, whom also get all the perks our fees are paying for.

Their greed is astounding and they should be made to feel publicly ashamed of themselves. Right before they get fired.

Unfortunately, since the bankers enjoy a cozy revolving door relationship with all of their government regulation, oversight and law enforcement divisions, they will make certain they aren't held accountable for these and other transgressions.

Maybe it is time for rioting in the streets. The politicians certainly don't care about the plight of the average person; that's not where their campaign funding comes from and more than ever, it isn't even their voting constituency.
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within our current framework of systems, rioting will only reinforce controls over us.
 
N

NoDrama

Well-Known Member
Just stop making deposits.

oh the horror of having to get a Postal Money Order. Oh woe is me to have to paste a stamp.
 
Padawanbater2

Padawanbater2

Well-Known Member
reddan1981 said:
@Rob Roy. What are your views on the Keynesian school of thought?
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It seems pretty simple, right?

Poor people don't spend money - because they don't have much money - the economy slows, businesses don't make as much money, they let go of employees because they can no longer pay them and as an effect unemployment rises resulting in a cyclical effect, a downward spiral of sorts for the economy

With an ever decreasing middle class, those numbers are likely to increase and the recession is likely to prolong..

The answer is clear; inject money into the economy by increasing wages so people can buy things and stimulate economic growth.

One, among many, things I find ironic is that there seems to be this voice in the public that says "we can't afford it!"... Yes we can. Look at the military budget, look at the money that simply goes missing from the budget, look at all the unnecessary expenses we spend money on as a country.. The only people saying we can't afford it are people involved in said industries who hold vested interests in keeping the money coming in as usual. Our infrastructure is failing, our education is failing, our domestic policy is in need of dire reconstruction. The funds are there, it's the allocation of those funds that's the problem. We could feed the 1 in 5 kids in America born into poverty, we could ensure that kid gets 3 square meals a day, but we don't, because cutbacks for the biggest banks is more important, because subsidies for the biggest energy companies is more important..

Welcome to America..
 
reddan1981

reddan1981

Well-Known Member
I understand your stance (and that of prosperity economics?). However I don't believe raising the minimum wage or creating a living wage will have any impact unless combined with radical societal, governmental and fiscal restructure. I believe any and all attempts to fix this system is destined for failure. My reasoning is this; what good is a 25% minimum wage increase in a market where a loaf of bread (could) increase in cost 200%.
Living wages would be area dependent? Surely then that would cause migration to the areas with higher wages, then that would push up property prices? Does the homeless hungry guy feel the benefits of a fast food operatives pay increase? I believe big corporations could absorb net profit losses from wage increase and continue to expand (thus continuing their dominance). What about small businesses struggling to pay for labour already? I don't know, I always lose my chain of thought when trying to summarize my thoughts.
 
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N

NoDrama

Well-Known Member
Harrekin said:
But but...The bank only wants to keep my money safe for me...?
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I'm pretty sure the bank manager takes out each currency unit stored on those hard drives (I think they call them "numbers" or something) and places them in a large vault for protection.

Oh wait, thats what a bank used to do when we had real money, now they just make money by shuffling those digits around in ledgers and charging us for it. Pretty good racket if you can get your foot in the door.
 
Harrekin

Harrekin

Well-Known Member
NoDrama said:
I'm pretty sure the bank manager takes out each currency unit stored on those hard drives (I think they call them "numbers" or something) and places them in a large vault for protection.

Oh wait, thats what a bank used to do when we had real money, now they just make money by shuffling those digits around in ledgers and charging us for it. Pretty good racket if you can get your foot in the door.
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So you mean the bank man doesn't have my all of my cash in a specific vault with my name and account number on it?

Ermahgerd!!!
 
S

Saturnine

Well-Known Member
NoDrama said:
I'm pretty sure the bank manager takes out each currency unit stored on those hard drives (I think they call them "numbers" or something) and places them in a large vault for protection.

Oh wait, thats what a bank used to do when we had real money, now they just make money by shuffling those digits around in ledgers and charging us for it. Pretty good racket if you can get your foot in the door.
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"Real money"? You wanna explain to me what real money is?

Fuck. I just got sucked into posting in the politics section.
 
N

NoDrama

Well-Known Member
Saturnine said:
"Real money"? You wanna explain to me what real money is?

Fuck. I just got sucked into posting in the politics section.
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The US Dollar is defined as a unit of pure silver weighing 371 4/16th grains (24.057 grams), or 416 grains of standard silver.

Article 1, section 10 of the US constitution states:
No State shall enter into any Treaty, Alliance, or Confederation; ... coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts...

That paper currency you have in your pocket isn't a dollar, its a Federal Reserve note, it even says so on the bills at the very top.

Anyway, that's how banks got started, by providing safe storage for people's gold and silver. They gave people receipts for the metal stored in the vault and the person used the receipt to make purchases. Since the receipts were payable to the bearer on demand people trusted them almost as much as the real thing. The bankers noticed that people traded the receipts and almost never came in to redeem them for the gold, so they came up with a scheme to issue more receipts than gold and loan them to other people for interest. And that is how banks were born. And that is how they operate. For every dollar on deposit the bank can loan you $9, all of which came into existence when it was written into the account. The bank doesn't actually have the cash, they create it when they write the the digits in the account. Its called credit, and credit spends just like money, but isn't actually money.

This can be a difficult concept to accept since most people have been indoctrinated all their lives that the Federal Reserve was the part of the government that issued the money of the USA. The Federal Reserve isn't federal and it has no reserves. It is a corporation that is owned by the banks. It is there to help the banks, not the economy. It doesn't issue money, it emits bills of credit (what people call dollars now).
 
UncleBuck

UncleBuck

Well-Known Member
NoDrama said:
The US Dollar is defined as a unit of pure silver weighing 371 4/16th grains (24.057 grams), or 416 grains of standard silver.

Article 1, section 10 of the US constitution states:
No State shall enter into any Treaty, Alliance, or Confederation; ... coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts...

That paper currency you have in your pocket isn't a dollar, its a Federal Reserve note, it even says so on the bills at the very top.

Anyway, that's how banks got started, by providing safe storage for people's gold and silver. They gave people receipts for the metal stored in the vault and the person used the receipt to make purchases. Since the receipts were payable to the bearer on demand people trusted them almost as much as the real thing. The bankers noticed that people traded the receipts and almost never came in to redeem them for the gold, so they came up with a scheme to issue more receipts than gold and loan them to other people for interest. And that is how banks were born. And that is how they operate. For every dollar on deposit the bank can loan you $9, all of which came into existence when it was written into the account. The bank doesn't actually have the cash, they create it when they write the the digits in the account. Its called credit, and credit spends just like money, but isn't actually money.

This can be a difficult concept to accept since most people have been indoctrinated all their lives that the Federal Reserve was the part of the government that issued the money of the USA. The Federal Reserve isn't federal and it has no reserves. It is a corporation that is owned by the banks. It is there to help the banks, not the economy. It doesn't issue money, it emits bills of credit (what people call dollars now).
Click to expand...
rawn pawl lost, and you are a loser too. get over it.
 
Rob Roy

Rob Roy

Well-Known Member
Padawanbater2 said:
It seems pretty simple, right?

Poor people don't spend money - because they don't have much money - the economy slows, businesses don't make as much money, they let go of employees because they can no longer pay them and as an effect unemployment rises resulting in a cyclical effect, a downward spiral of sorts for the economy

With an ever decreasing middle class, those numbers are likely to increase and the recession is likely to prolong..

The answer is clear; inject money into the economy by increasing wages so people can buy things and stimulate economic growth.

One, among many, things I find ironic is that there seems to be this voice in the public that says "we can't afford it!"... Yes we can. Look at the military budget, look at the money that simply goes missing from the budget, look at all the unnecessary expenses we spend money on as a country.. The only people saying we can't afford it are people involved in said industries who hold vested interests in keeping the money coming in as usual. Our infrastructure is failing, our education is failing, our domestic policy is in need of dire reconstruction. The funds are there, it's the allocation of those funds that's the problem. We could feed the 1 in 5 kids in America born into poverty, we could ensure that kid gets 3 square meals a day, but we don't, because cutbacks for the biggest banks is more important, because subsidies for the biggest energy companies is more important..

Welcome to America..
Click to expand...

The public education system is working just as it was planned to work. Hasn't a class of dumbed down sycophants been created?

I don't subscribe to the idea that thru forced redistributiuon good things will happen.
 
Harrekin

Harrekin

Well-Known Member
NoDrama said:
The US Dollar is defined as a unit of pure silver weighing 371 4/16th grains (24.057 grams), or 416 grains of standard silver.

Article 1, section 10 of the US constitution states:
No State shall enter into any Treaty, Alliance, or Confederation; ... coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts...

That paper currency you have in your pocket isn't a dollar, its a Federal Reserve note, it even says so on the bills at the very top.

Anyway, that's how banks got started, by providing safe storage for people's gold and silver. They gave people receipts for the metal stored in the vault and the person used the receipt to make purchases. Since the receipts were payable to the bearer on demand people trusted them almost as much as the real thing. The bankers noticed that people traded the receipts and almost never came in to redeem them for the gold, so they came up with a scheme to issue more receipts than gold and loan them to other people for interest. And that is how banks were born. And that is how they operate. For every dollar on deposit the bank can loan you $9, all of which came into existence when it was written into the account. The bank doesn't actually have the cash, they create it when they write the the digits in the account. Its called credit, and credit spends just like money, but isn't actually money.

This can be a difficult concept to accept since most people have been indoctrinated all their lives that the Federal Reserve was the part of the government that issued the money of the USA. The Federal Reserve isn't federal and it has no reserves. It is a corporation that is owned by the banks. It is there to help the banks, not the economy. It doesn't issue money, it emits bills of credit (what people call dollars now).
Click to expand...
Don't forget that the Federal Reserve banks "mind" other country's gold, just don't expect to he able to withdraw it this decade ;)
 
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