The Banking and monetary systems in the US are bunk and a new paradigm needs to be implemented
- Thread starter Brushy Bill
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Yes, and it's how business grows, except in socialist countries like North Korea.
There is a reason banks fail ALL THE TIME. (491 in the last 8 years... 61 a year, 5 a month, one a week) You act like every bank is screwing people and becoming rich.
Some are better at lending profitably and more responsibly than others and I dare you to find a company that has never used bank debt to become a national brand.
Many are debt free now, but only cause they grew to a point where they could payoff all debt.
There is a reason banks fail ALL THE TIME. (491 in the last 8 years... 61 a year, 5 a month, one a week) You act like every bank is screwing people and becoming rich.
Some are better at lending profitably and more responsibly than others and I dare you to find a company that has never used bank debt to become a national brand.
Many are debt free now, but only cause they grew to a point where they could payoff all debt.
You can call me lots of things but 'socialist' is a fighting word. :boxing: (not really mods, don't let H6 show up and start calling for me to be banned)
That's right dip. Your ignorant ******** is not understandable by rational, intelligent people.
You are getting screwed everywhere. Did you know that a $3 loaf of bread that you buy costs less to produce?
Yes dipshit, I've read about this in blogs, trade journals, and heard it discussed at training seminars and webinars relative to my touching job.
Do you understand that usury laws exist? Do you understand that they push some borrowers out of the market? Ever wonder why bank won't make low dollar, short term loans? Usury. But I can't know as much as you. I've only worked in compliance and risk management since 1997. You read a link.
This dumbass has never heard of SBA, USDA Rural Housing, VA lending program, Farm Credit Agency, Stafford loans, or any other government guaranteed loan programs with high failure rates that are paperwork nightmares.
No bank has a loan to deposit ratio greater than 100%. Hell, banks get criticized for having ratios that are too low.
I don't tell you how to service truckers at rest stops. Don't tell me how to be a banker.
You're means you are.
Your is a possessive pronoun.
Part of the system? Yes. Yelen calls me twice a day for advice. We plot on how to take over the world. You got me.
This reminds me of the adage, "Arguing with an idiot is like wrestling with a pig. You're going to get dirty and the pig enjoys it."
I'm not telling you how to be a banker, I'm telling you that banking as it is currently practiced is corrupt and there better ways of doing things. Sorry, not sorry, if your feelings are hurt.
That's a little test I do to see what kind of jackass I'm dealing with. You passed with flying colors. [winking]
Couldn't agree more, although you've got our roles reversed in your head.
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I have to tell you guys, I'm shocked, SHOCKED I tells ya, that a banker likes being able to loan imaginary money and then collect principle and interest back as payment, S-H-O-C-K-E-D! Fiat money and fractional reserve banking a match made in hell.
I wonder how long until lexie pulls and h6 and starts petitioning the mods to ban me because I hurt his feelings.
I wonder how long until lexie pulls and h6 and starts petitioning the mods to ban me because I hurt his feelings.
Not to mention Fannie Mae and Freddie Mac, and how government mandates for high-risk loans essentially led to the great recession. We already have the system the OP advocates in many sectors of banking, only by proxy and regulation.
You would really want to turn such an essential function of our economy over to the government? You trust government to run anything efficiently? Go to your local Social Security office, observe for an hour, reflect on your advocacy of essentially nationalizing our current private banking system, then return to this thread and apologize for wasting everyone's time by starting this thread.
I'm not advocating govt take over the whole system. I'm in favor of a public banking system to finance public works done by private companies. I'm in favor of coming up with an alternative to usurious practices of loaning money to individuals with interest attached to them. And I'm for 'real' money not some fiat, poof here's more money, system. The entire system is corrupt and enslaving us unnecessarily to a lifetime of debt servitude.
So, let me get this straight. You want some entity to loan you a couple hundred thousand dollars (home loan or business startup) with no interest attached? They take a huge risk by giving you money but they get nothing in return?
Everyone get in line, brushy is giving out loans.
OP must have lost a car or house to a bank due to non-repayment and/or lives check to check and can't understand why he is charged a fee when he does not have sufficient funds to purchase all of his conspiracy books.
I'd prefer commodity backed, but competing currencies would be a more acceptable option than the debt notes we carry around now.
Joe - borrows money from his local membership bank, interest free.
Joes business - borrows money from his local membership bank interest free (if eligible) or the municipal bank of Joes hometown at a reasonable interest rate.
Joes hometown borrows money from the State bank in the state in which Joe resides.
Joes state borrows money from the federal govt.
The federal govt bank gives loans to states, corporations, other nations etc. It places all profits from the collection of interest into the public coffers and Congress doles it out as it sees fit
The state govt bank gives loans to other states, corporations, large businesses and public institutions. It places profits from the collection of interest into the public coffers and doles it out as it sees fit.
Municipal banks give loans to local businesses, small community institutions and individuals as it sees fit. It places profits from the collection of interest
Money is either:
1) commodity based - best
2) some sort of competing currency - next best
Blow the old paradigm up and build a new one.
Joes business - borrows money from his local membership bank interest free (if eligible) or the municipal bank of Joes hometown at a reasonable interest rate.
Joes hometown borrows money from the State bank in the state in which Joe resides.
Joes state borrows money from the federal govt.
The federal govt bank gives loans to states, corporations, other nations etc. It places all profits from the collection of interest into the public coffers and Congress doles it out as it sees fit
The state govt bank gives loans to other states, corporations, large businesses and public institutions. It places profits from the collection of interest into the public coffers and doles it out as it sees fit.
Municipal banks give loans to local businesses, small community institutions and individuals as it sees fit. It places profits from the collection of interest
Money is either:
1) commodity based - best
2) some sort of competing currency - next best
Blow the old paradigm up and build a new one.
so basically our current setup but as a statist government economy rather than a capitalist economy.
Sounds effing awful.
OP has to be the stupidest window licker on the board.
Interest is the price of borrowing money. Prices regulate the quantity demanded of a product. At a price of zero, quantity demanded will be almost infinite. Not only that, interest rates also serve as a risk-management tool that lenders use to compensate themselves for high-risk borrowers who have some combination of poor credit histories, poor collateral, a risky business plan (for business loans), and/or poor cash flow coverage. In other words it compensates for loans that are less likely to be repaid (the scenario that lead to the mortgage crisis).
Did you understand that with loan to deposit ratios not being over 100% you theoretical scenario doesn't happen?
Do you advocate that instead of using deposits as loanable reserves that banks only use paid in capital? Do you know what reserves are? Do you know what capital is?
Here's an idea if you don't link the lending system - SAVE. Live completely within your means. Borrow nothing. Don't do business with banks either. Only carry cash. Don't accept payment via check. Don't write checks for your bills. Don't use a credit card or a debit card. That will show us. We'll miss your $70 average collected balance. (Do you understand what "collected balance" means?)
Interest is the price of borrowing money. Prices regulate the quantity demanded of a product. At a price of zero, quantity demanded will be almost infinite. Not only that, interest rates also serve as a risk-management tool that lenders use to compensate themselves for high-risk borrowers who have some combination of poor credit histories, poor collateral, a risky business plan (for business loans), and/or poor cash flow coverage. In other words it compensates for loans that are less likely to be repaid (the scenario that lead to the mortgage crisis).
Did you understand that with loan to deposit ratios not being over 100% you theoretical scenario doesn't happen?
Do you advocate that instead of using deposits as loanable reserves that banks only use paid in capital? Do you know what reserves are? Do you know what capital is?
Here's an idea if you don't link the lending system - SAVE. Live completely within your means. Borrow nothing. Don't do business with banks either. Only carry cash. Don't accept payment via check. Don't write checks for your bills. Don't use a credit card or a debit card. That will show us. We'll miss your $70 average collected balance. (Do you understand what "collected balance" means?)
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