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. What are your thoughts on the topic?
The banking and monetary systems in the US are bunk and a new paradigm needs to be implemented
- Thread starter Brushy Bill
- Start date
If usury is here to stay, shouldn't the interest go towards the "public good" instead of lining the pockets of the money men.
http://www.publicbankinginstitute.org/
http://www.publicbankinginstitute.org/
Usury and the law - In the United States, the primary legal power to regulate usury rests with the states. Usury laws are state laws that specify the maximum legal interest rate at which loans can be made. Each U.S. state has its own statute which dictates how much interest can be charged before it is considered usurious or unlawful.
I understand that there are usury laws, what I'm saying is that the practice of loaning money, specifically to individuals, at interest is an immoral practice.
As an expansion of the topic, how evil is fractional reserve banking? Being able to loan $10 for every $1 dollar in deposit in a bank is unconscionable. Our money system is based on creating money just to loan out and then collect back principle + interest. WTactualF.
The entire monetary/financial system is corrupt and needs overhauling. Banks can loan out $10 for every $1 on deposit, they can literally create money out of thin air using fractional reserve banking practices, this creates a huge moral hazard. Secondly they get to collect interest on these loans, which is real money being paid back on a loan of money that didn't even exist before the time it was borrowed, WTF. Fractional reserve banking and usurious lending practices place a noose around us from the time we are born until the time we die, hence they are immoral.
I get paid for my talents, dentistry, and banks get paid for their talents, money. How is that immoral?
Because banks push a few buttons and create money out of thin air that didn't exist before the loan was granted. They aren't getting paid for their talents, they are getting paid because people don't understand how money/banking/interest really work.
Do you pay cash for everything you buy? Do you have any loans? House? Car? banks get interest to pay staff, collect bad debts, dividends, If you were to stop this, our whole economic system would collapse as we know it. Now,if you want to talk about the Fed and the Federal reserve, maybe we can start there but banks are not the enemy.
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I'm talking about everything. The link in the OP is about a Public Banking system where govts at all levels make loans for the betterment of their constituents and the interest paid on those loans also goes back into the public coffers. North Dakota has been doing it and doing it well for a while, we have an example to look at and now it's time to scale it up to the federal level and down to the municipal level. Why should individuals get all the benefit and not 'we the people'.
As far as loans to individuals for things like cars, mortgages, stuff...there are better alternatives out there.
And for god's sake, can we please bring back real honest to god money, purty please with sugar on top.
I'm talking about everything. The link in the OP is about a Public Banking system where govts at all levels make loans for the betterment of their constituents and the interest paid on those loans also goes back into the public coffers. North Dakota has been doing it and doing it well for a while, we have an example to look at and now it's time to scale it up to the federal level and down to the municipal level. Why should individuals get all the benefit and not 'we the people'.
As far as loans to individuals for things like cars, mortgages, stuff...there are better alternatives out there.
And for god's sake, can we please bring back real honest to god money, purty please with sugar on top.
Anyone that doesn't have $ to buy a house or car with cash. The system has enslaved damn near EVERYONE.
I know all about Dave Ramsey, his system works well within the current paradigm, I'm saying the paradigm is rotten and needs to be abandoned.
Saving, paying cash works well no matter the system. Government banks don't sound like a good idea at all to me. Regulation of the private banking industry seems to me to be the best of the imperfect options.
I read the link, not in the op but the second post, and I read post 14. It's one thing for Bismarck to be involved. It's another when Springfield or Albany or Washington gets involved.
The template scales to suit the need. Look into the JAK bank of Sweden for how a local bank should work. Membership and dues and interest free loans, easy peasy.
I have free checking now--interest-bearing even. There are about a bajillion places for me to get a loan. I can save to get what I want. I see no issues that regulatory changes couldn't fix.
Ok. But you haven't demonstrated a single way life will improve with a new banking system.
Same here.....I also always pay with a credit card and have not paid a CENT of interest in over 30 years. In fact I make money with all of my credit cards. I also have had the same ten dollar bill in my wallet for about the last 6 months.
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.
It will improve because I won't pay $400,000 back on a $100,000 mortgage. That's $300,000 I can spend on other things as I see fit.
ACLU files suit against gov. because minorities are disproportionately denied loans because they are less credit-worthy. ACLU argues institutional racism to blame for credit requirements. Gov. caves. New entitlement created. Free loans for everyone. Major default crisis ensues. Gov. raises taxes. Brushy trades voluntary interest for involuntary tax.
That is not reductio ad absurdum. That is almost exactly how the housing crisis was created.
Quite a few did it by hard work and not opining on a message board about something they have limited knowledge about.