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'Occupy' must understand there is nothing fundamentally wrong with banking : Comments
By Mikayla Novak, published 27/10/2011Bankers, not banking, have let us down.
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Posted by Arjay, Saturday, 29 October 2011 8:44:37 AM
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Hi Arjay
Quite agree. Corruption compounded with an agenda. The make the world safe from humanity actions have hit here in Queensland with more to come. Creeks offlimits, no access. NO TRESPASSING. State Park, No Admittance, sort of thing. There's a parade went on 20k from my beach village protesting it. By the time the do-gooders get done, there will be nothing left for outdoor recreation for real people. On the corruption side, I've had some information that seems to hold up, essentially the securitization process was flawed from the beginning of the Mortgage Electronic Registry System (a private consortium of six biggest banks and lender) so the bottom line technically is: MBS contain NOTHING.This bitter fact had to be kept hidden, thus Paulson and Bernanke scared the congress into the fake save the system, save the world bailout process. One doesn't know whether to laugh or scream at the ultimate fraud. Posted by Novista, Saturday, 29 October 2011 5:01:15 PM
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Novista,at least some of us are using our brains.
Posted by Arjay, Monday, 31 October 2011 6:01:04 PM
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The purpose of banking as Julia states is to
"Fundamentally, the role of the finance sector in the modern economic system is to connect those in the economy who have saved part of what they earned with those who desire to borrow funds to invest in various ventures." If banking did this then it would serve us well. Unfortunately banks do not care what happens to the funds after they are borrowed as long as the funds are paid back. This means funds are only lent to those who have existing assets - not to those who wish to create new assets and new production. This effect of this bias is a system that stifles innovation and efficiency and preserves inefficient existing processes. Posted by Fickle Pickle, Monday, 31 October 2011 10:39:21 PM
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I added this on another thread because it is most relevant.
Maybe this interview might bring some reason and understanding as to why the protesters are sick and tired of what has been occurring. http://www.market-ticker.org/akcs-www?blog=Market-Ticker More about William Black http://en.wikipedia.org/wiki/William_K._Black Posted by Opinionated2, Wednesday, 2 November 2011 5:53:46 AM
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Unfortunately ,putting your money with a credit union will not help much.This will mean our banks will have to borrow more from OS since their leverage from deposits will be reduced.Our overall debt burden will increase.
The way forward is to lobby for Credit Unions to become mutual banks and then they have leverage to create their own new money.Depositors and borrowers then become shareholders.This is one way of breaking their cartel of counterfeiting. Posted by Arjay, Saturday, 5 November 2011 8:45:16 AM
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By 1995 the evidence no longer supported the theory of AGW but they wouldn't let the facts get in the way of their New World Order of tyranny.