The Banking and monetary systems in the US are bunk and a new paradigm needs to be implemented

[Brushy Bill]

I'm pretty sure it is a satanic scheme meant to enslave the world and create a universal debtor class who owes everything to the banksters. However, if usury is here to stay, shouldn't the interest payments go towards the "public good" instead of lining the pockets of the money men.

http://www.publicbankinginstitute.org/

What are your thoughts on the topic?

 

[Rebelfreedomeagle]

If you can't pay the interest don't borrow the money. I'm tired of hearing how people are victims after they took a loan and didn't like paying it back.

 

[Zar_Doz]

I'm pretty sure it is a Jewish scheme meant to enslave the world and create a universal debtor class who owes everything to the Jews.

FIFY.

 

[Brushy Bill]

If you can't pay the interest don't borrow the money. I'm tired of hearing how people are victims after they took a loan and didn't like paying it back.

That's not the point, like...at all.

 

[mdlUK.1]

If you can't pay the interest don't borrow the money. I'm tired of hearing how people are victims after they took a loan and didn't like paying it back.

Amen!

 

[JumperJack]

Why would anyone loan you money if they couldn't mke a profit from it?

You silly.

 

[Brushy Bill]

Why would anyone loan you money if they couldn't mke a profit from it?

You silly.

Read the link.

I think "we the people" should profit the most if usury is to remain an acceptable practice.

 

[Brushy Bill]

FIFY.

I don't care about color, creed, ethnicity when it comes to this topic.

 

[funKYcat75]

*acceptable

 

[JumperJack]

Loaning money should be a private industry.

 

[Brushy Bill]

Loaning money should be a private industry.

Why?

 

[Brushy Bill]

*acceptable

* figures

[eyeroll]

 

[funKYcat75]

* figures

[eyeroll]

Just sayin'. I had to look up 'usury' so we both learned something today.

 

[JohnBlue]

What is thread about, some whack *** bank in North Dakota? If you're paying too much interest you couldn't afford the loan, or did a horrible job negotiating the loan. Interest rates have been cheap for the last several years. Also, there is nothing wrong with lenders making money off loans, it's a business not a charity.

 

[UKserialkiller]

I think you should you get paid from a loan. Borrow $20, give $15 back

 

[mdlUK.1]

I got a home loan of 3.75% in 2001. That's hardly an unfair interest rate. And rates haven't gone up much since then.

Now banks do not pay much interest on the money they hold for you in a savings or checking account. But as others said, they have a right to make a profit.

If you don't like it, I guess you can head to North Dakota.

 

[Brushy Bill]

I think you should you get paid from a loan. Borrow $20, give $15 back

 

[K-GAR]

Ah, flat earth, now banks are screwing people.

Starting to get Bucky's conspiracy profile pretty complete.

In today's world, if a bank is screwing you... it's on you not the institution.

 

[Zar_Doz]

I don't care about color, creed, ethnicity when it comes to this topic.

I don't either. However, there's no doubt Jews control the world banking system -- see chapter 21 of the Protocols Of The Elders Of Zion for details.

 

[Brushy Bill]

Ah, flat earth, now banks are screwing people.

Starting to get Bucky's conspiracy profile pretty complete.

In today's world, if a bank is screwing you... it's on you not the institution.

[eyeroll]
Some of us actually pay attention to the world that we live in and some of us don't. You sir are in the latter group.

 

[K-GAR]

[eyeroll]
Some of us actually pay attention to the world that we live in and some of us don't. You sir are in the latter group.

No, some of us have rational, objective thought processes and some of us have highly irrational, subjective, you'll never prove me wrong even if you slapped me in the nuts with the evidence thought processes.

Of course, you fall in the latter.

Looking forward to Brushy's upcoming posts;

- Sandy Hook didn't happen
- 9/11 was done by the government
- we faked the moon landing
- the fluoride in the water is a mind control government drug
- the Illuminati controls all the worlds actions

 

[MegaBlue05]

It's those damn chamtrails, man.

Maybe even the fluoride in the water.

 

[Brushy Bill]

No, some of us have rational, objective thought processes and some of us have highly irrational, subjective, you'll never prove me wrong even if you slapped me in the nuts with the evidence thought processes.

Of course, you fall in the latter.

Looking forward to Brushy's upcoming posts;

- Sandy Hook didn't happen
- 9/11 was done by the government
- we faked the moon landing
- the fluoride in the water is a mind control government drug
- the Illuminati controls all the worlds actions

So you decided the shotgun approach was a good idea and you still missed the mark.

 

[Lexie's Dad]

Usury laws exist.

Didn't bother clicking the link. It's probably about tribal affiliated high risk loans. 20 years in banking.

If you have ****** credit and are up to your eyeballs in debt, you should pay risk adjusted rates.

No, the government should stay out of lending. The VA gives great healthcare, imagine the lending from government.

 

[Brushy Bill]

Usury laws exist.

Didn't bother clicking the link. It's probably about tribal affiliated high risk loans. 20 years in banking.

If you have ****** credit and are up to your eyeballs in debt, you should pay risk adjusted rates.

No, the government should stay out of lending. The VA gives great healthcare, imagine the lending from government.

Thanks for popping off anyways. [eyeroll]

 

[Brushy Bill]

Ah, flat earth, now banks are screwing people.

Starting to get Bucky's conspiracy profile pretty complete.

In today's world, if a bank is screwing you... it's on you not the institution.

Did you ever work the kinks out in your little blogging venture? [eyeroll]

 

[K-GAR]

Aw, poor Brushy always resorts to trying to put down people.

It's doing just fine thanks.

I won't get sucked into your rabbit hole of conspiracy theory this time but as everyone in this thread (except you, shocker) has pointed out.

The regulation in lending has become so stringent that it's impossible to get screwed with lending today with any institution with a public presence.

Anyone with a decent credit score can walk into a bank and get a 4ish percent home loan. Usury, the way you're portraying it, simply doesn't exist anymore.

Maybe you should try and find memes to back up your point like you do with flat earth?

 

[Brushy Bill]

Aw, poor Brushy always resorts to trying to put down people.

It's doing just fine thanks.

I won't get sucked into your rabbit hole of conspiracy theory this time but as everyone in this thread (except you, shocker) has pointed out.

The regulation in lending has become so stringent that it's impossible to get screwed with lending today with any institution with a public presence.

Anyone with a decent credit score can walk into a bank and get a 4ish percent home loan. Usury, the way you're portraying it, simply doesn't exist anymore.

Maybe you should try and find memes to back up your point like you do with flat earth?

What about the public banking option in my OP. Shouldn't cities/states/the federal govt, and by extension 'we the people' be the beneficiaries of interest bearing loans and not fat cat bankers.

 

[K-GAR]

I think the public banking option is great on a very small, personal scale.

However, if you want progress and businesses to grow and create more jobs it's a complete and utter failure.

Private banks take on much more risk for business lending than a public bank ever would.

Without taking risks in lending... startup businesses almost never happen. Aggressive growth strategies that require capital (loans from somewhere else) would not happen.

If you want America to look like a replica of North Dakota, sure, go ahead. But the mass exodus of big companies would make your head spin and turn America into a socialist country

 

[Ron Mehico]

What about the public banking option in my OP. Shouldn't cities/states/the federal govt, and by extension 'we the people' be the beneficiaries of interest bearing loans and not fat cat bankers.

What do you mean? Like a socialist country with government banks like Noth Korea or something? I honestly don't know what point you're trying to make.

 

[Brushy Bill]

What do you mean? Like a socialist country with government banks like Noth Korea or something? I honestly don't know what point you're trying to make.

Check the link.

Govt banks (at all levels) make loans and use the money made from interest bearing loan payments for public works. It can be used to relieve tax burdens on citizens or to fund the necessary functions of govt. Why do we allow private parties to get rich for loaning money that they don't even have. Do you know what fractional reserve banking is?

 

[Spanish Radio]

The federal government will eventually have to eat the majority of 1.2 trillion dollars (as of today)in student loans. We should go ahead and tack on several more trillion in loans for mortgages. Maybe the feds can start issuing credit cards so the federal government can eat those losses as well. Possible side benefit, the feds could implement debtors prison for those that don't pay.

 

[Brushy Bill]

Let's open this up a little, how stupid is fractional reserve banking. What kind of BS is it that banks/ers can loan out $10 dollars for every $1 dollar they have in "reserve". WTactualF

 

[Ron Mehico]

Check the link.

Govt banks (at all levels) make loans and use the money made from interest bearing loan payments for public works. It can be used to relieve tax burdens on citizens or to fund the necessary functions of govt. Why do we allow private parties to get rich for loaning money that they don't even have. Do you know what fractional reserve banking is?

We live in a capitalistic society, there are positives and negatives, I feel there are more positives.

 

[Brushy Bill]

We live in a capitalistic society, there are positives and negatives, I feel there are more positives.

We (not you and I though) used to live in a capitalistic society, at the moment the corporatists and bankers run the show and that ain't capitalism.

 

[ndk_rivals308474]

It can be used to relieve tax burdens on citizens or to fund the necessary functions of govt.

This assumes a whole heck of a lot about how politicians view tax receipts and the budget in general. Governments simply don't find ways to collect less money. They find ways to collect more. And then spend the more, not send it back to the taxpayers.

Separately though, this proposal would not achieve your goal of helping "the people." It would do the opposite. First, if there is no incentive for the wealthy to lend or risk their capital, then they won't do it. Take away the ability for them to grow their wealth by lending, and they will just stop lending. That's not good for a lot of small businesses that depend on credit to operate their businesses.

Second, as the market dries up and becomes an uncompetitive government monopoly, individuals who need credit the most (lower and middle income types) will see the cost of their credit go up. If you truly doubt this, see Obamacare. Lack of competition kills innovation. It eliminates the incentive to build a better mouse trap and offer it for cheaper than your competitors do. So, when Joe and Suzy need a loan to buy a new car, today they can shop rates. A single lender system can't offer that.

Law of economics (much like the law of physics) doesn't seem to be your strong suit.

 

[K-GAR]

Let's open this up a little, how stupid is fractional reserve banking. What kind of BS is it that banks/ers can loan out $10 dollars for every $1 dollar they have in "reserve". WTactualF

Reserve means on deposit, not cash on hand. Banks use reserves to make loans, sell the paper, invest in other companies, make cash... rinse repeat.

You're in over your head in this one, not even being a smart *** about it either.

You honestly seem like you are dying to have an Old Testament, socialist society from 1940 to live in

 

[Brushy Bill]

This assumes a whole heck of a lot about how politicians view tax receipts and the budget in general. Governments simply don't find ways to collect less money. They find ways to collect more. And then spend the more, not send it back to the taxpayers.

Separately though, this proposal would not achieve your goal of helping "the people." It would do the opposite. First, if there is no incentive for the wealthy to lend or risk their capital, then they won't do it. Take away the ability for them to grow their wealth by lending, and they will just stop lending. That's not good for a lot of small businesses that depend on credit to operate their businesses.

Second, as the market dries up and becomes an uncompetitive government monopoly, individuals who need credit the most (lower and middle income types) will see the cost of their credit go up. If you truly doubt this, see Obamacare. Lack of competition kills innovation. It eliminates the incentive to build a better mouse trap and offer it for cheaper than your competitors do. So, when Joe and Suzy need a loan to buy a new car, today they can shop rates. A single lender system can't offer that.

Law of economics (much like the law of physics) doesn't seem to be your strong suit.

 

[Brushy Bill]

Reserve means on deposit, not cash on hand. Banks use reserves to make loans, sell the paper, invest in other companies, make cash... rinse repeat.

You're in over your head in this one, not even being a smart *** about it either.

You honestly seem like you are dying to have an Old Testament, socialist society from 1940 to live in

Good grief, THEY LOAN MONEY THAT DOESN'T EXIST AND THEN COLLECT REPAYMENT OF THE NON EXISTANT MONEY AS WELL AS INTEREST.

 

[ndk_rivals308474]

Those aren't ridiculous proportions, bro. They are called "consequences." Actions have consequences. And if you think ending the practice of charging interest wouldn't have HUGE consequences, you probably shouldn't be suggesting policy ideas.