Robber Banks
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Dear Mahdi, Danish, Ash Shuura, and others
Thank you very much for your valuable imput. I confess that I have little knowledge in banking and finance; but the conspiracy between bankers and the government to exploit the working class in favor of the richest segment of the population is so obvious, even a person with no special knowledge of economy can discern.
So,
While working to create group of experts, lawyers, ecnomists, activists for the bankrobbers.com I would like to get your permission to use some of your postings here in that site.
In that regard, I find Mahd'is avoidance of banks a good way to educate people who might be able to function without a bank account, though I do not think that it will solve the big problem. We cannot bystand this robbery just because some people are not as responsible or cannot afford that much responsibility as brother Mahdi does. We may blame the INDIVIDUAL victim for not putting more locks on her door, but at the same time we should also, as SOCIETY, find a way to punish and deter the burglars and would be burglars. Through www.bankrobbers.org (or .com) site, I hope to deal with the social/legal aspect of the problem.
I also would like to invite Ash Shuura's contribution to the site, since it seems that s/he is informed on many related issues.
As you may note, I do not want to create a boring expert-friendly website; but an informative and lay-friendly website. Our real audiance are average Jon and Jill who are skimmed by the banking industry and its accomplices in Washington.
Peace,
Edip -
A few months ago a court in the UK ruled in favour of a customer against one of the banks on th issue of these charges, saying that the (expenses) incurred by the bank for returning an unpaid DD, S.O or a check do not warrant such an expensive price (?38.00). Unfortunately, banks still charge this amount, because people do not know, or they know and do not bother about filing a court case against the bank.
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Peace all,
The system of monetary gains and loses, the influx of National and International funds to induce capitalization and the circulation and re-direction of reserves by lending and borrowing through World financial institutions combined, is how our entire generation over a short period to time has affected our World Economy. It would simply be hardpressed to avoid banking in totality on both National and International Corporate Fronts to turn our World Econonmy by 360 degrees to put us back on an all-out cash dependency or perhaps even back to the "good old" barter system, which I'm afraid will not work Today.
If people start to invalidate or shun banking, what do you think would happen over the long run knowing our advanced techonological outfits? What other measures can be accommodated to better our banking system rather than avoiding it?
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Peace Danish,
With the barter system you get transactions extinguished, the essence of a fair transaction is I give you something and you give me something in return. If you give me a piece of paper that says $100 on it and I keep it for 12 months the supply of it increases 10% then it becomes only worth $90. So, I pass this onto someone else and in another 12 months it becomes worth $81. This pilfirage does not dissipate into thin air as this is debt not money, it has interest to be paid on it too. Hence, for facilitating transactions you're paying a toll to the invisible hand of the banking cartel.
Where does inflation go? It goes to those who hold all the wealth and those who print it out of thin air. Why? Because the government issues bonds to the Fed, Fed writes a check out of thin air, deposits into the governments account and if you are government employee it pays you with this funny money. Say if there were 100 of $1 bills and 100 apples in an economy with the addition of 100 more $1 bills and apple has become $2. In addition the result is government is in more debt, and it charges you taxes to pay the debt off and so on.
I'll tell you a better system, as described in the Qur'an silver and gold which has no debt, and when we exchange we each get something that has intrinsic value. Furthermore, banks should go back to being warehouses that charge small transaction and storage fees where we know how much we're paying. And, we do not lose the value of money because the supply is steady. Otherwise whilst we're creating it by work the bankers just run the printing presses. It costs them almost nothing. Is your time worth almost nothing? The essential element here is 1 for 1 reserve. If I pass you a warehouse receipt of 100 oz silver coins when you turn up at the warehouse they better be there. Hence, 1 for 1 reserve means they can't be lent over and over again.
Is this far fetched? No. There is already electronic gold and silver which works for 1 for 1 and technically I can send you gold or silver by email. It will be transferred from my account to yours in a matter of seconds. Guess what? Since gold or silver does not go bankrupt there is no risk of default either. But if the Weimar scenario happened in the US, which I think is close, those dollars would not be worth as much as toilet paper.
Hence, I believe there are viable and sensible alternatives. We need to educate ourselves and learn about money and banking. And, I haven't even touched how all the evils in this world, all the wars are tied to banking interests yet. brickwall
Peace
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Peace Danish,
With the barter system you get transactions extinguished, the essence of a fair transaction is I give you something and you give me something in return. If you give me a piece of paper that says $100 on it and I keep it for 12 months the supply of it increases 10% then it becomes only worth $90. So, I pass this onto someone else and in another 12 months it becomes worth $81. This pilfirage does not dissipate into thin air as this is debt not money, it has interest to be paid on it too. Hence, for facilitating transactions you're paying a toll to the invisible hand of the banking cartel.
Barter system works best in smaller communities, groups or individuals having mutual interests and where monetary currency doesn't exist or lacking thereof or highly devalued. The disadvantage of this system lies in commodity tradeoffs having vast variances. For example, if you were a Yamaha motorcyle dealer and I was a Nike shoe dealer. It would be unfair for an equal tradeoff, i.e. in 11 ratio. To balance off this trade and just as an example, I must sell at least 1000 of my shoes to 1 of your motorcyle, hence 11000 ratio. The problem comes when I am in dire need of 100 bikes, in which case I must trade 100,000 shoes which may be out of your scope of immediate needs, hence arising unecessary warehousing, lack of future demand, capital loss and unhealthy business relationship, not to mention the labor, time, machinery and administration involved. This would also affect individual trading. Another major problem of barter system would arise from severely devalued currency where trading one good would have little value on the other. Once again, unlike historic times, in today's advanced yet harsh economy, Barter System won't work and neither will all-out cash trades.
Where does inflation go? It goes to those who hold all the wealth and those who print it out of thin air. Why? Because the government issues bonds to the Fed, Fed writes a check out of thin air, deposits into the governments account and if you are government employee it pays you with this funny money. Say if there were 100 of $1 bills and 100 apples in an economy with the addition of 100 more $1 bills and apple has become $2. In addition the result is government is in more debt, and it charges you taxes to pay the debt off and so on.
There is no such thing as money being printed out of thin air, but rather very much controlled and monitored through Treasury Dept. and International Exchange Stabilization, otherwise US would never be in its $43 trillion dollar debt and all countries would simply print their own currencies blindfoldedly at will. The inflation and deflation is a factor governed primarily by supply and demand and International Exchange Rate.
I'll tell you a better system, as described in the Qur'an silver and gold which has no debt, and when we exchange we each get something that has intrinsic value. Furthermore, banks should go back to being warehouses that charge small transaction and storage fees where we know how much we're paying. And, we do not lose the value of money because the supply is steady. Otherwise whilst we're creating it by work the bankers just run the printing presses. It costs them almost nothing. Is your time worth almost nothing? The essential element here is 1 for 1 reserve. If I pass you a warehouse receipt of 100 oz silver coins when you turn up at the warehouse they better be there. Hence, 1 for 1 reserve means they can't be lent over and over again.
Gold, Silver, Diamonds and other precious metals are the highest valued non-liquid safe long-term assests measured by weight, grade, cut, size, shape and carrat and does fluctuate on London Fixing or GOLD POOL in an open market. Once again, this will not work on a larger scale to trade other products due to its unstable valuation. One cannot carry gold and silver around, lets say, to buy food or clothing on a regular basis. I believe the GOLD POOL, where price of gold is administered on a daily basis, is indirectly related to LIBOR, if I not mistaken.
The liquid paper currency and current banking system with variety of options is, I believe, the best and most safe and efficient system, only that it is being abused by government elites and corporate thugs. For an average Joe, the only guaranteed safe haven to security are the savings account, money market CDs, government bonds and life insurances. Gold, silver, gem stones, 401K and above all Real Estate properties are excellent assests where one can get more bang for their investment at the right time, not to mention tax credits.
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I revised the article at 19.org
http//19.org/index.php?id=14,412,0,0,1,0
Hopefully, we will rank banks according to their robbery skills at www.robberbanks.org.
Peace,
Edip