General: Banking System - NO BONUSES for Those Who've Destroyed the Economy!!!

I normally wouldn't post stuff like this, but with RBS intending to use £1 BILLION as bonuses for staff, I for one think that MY money (and yours, UK readers) should be used to prop up british businesses, not give staff undeserved bonuses.

Especially since this money isn't theirs - it's part of the £20 billion we the taxpayer gave them to bail them out and stop the bank collapsing.

www.giveupthebonus.co.uk

The bankers ruin the economy, put millions out of work, destroy thousands and thousands of healthy businesses, take the homes of these people away from them - then want to give themselves a huge chunk of OUR change for the privilidge.

I was wondering, would they mind if I punched them in the face, stole their wallets - then invoiced them hundreds of pounds for the privilidge of being financially violated? Because that's basically what they've done to us!!!

I don't mind bonuses. But when they are to the sums that these chaps are getting. It does seem rather extravagant, all things considered.

So are you happier now the govt. has stepped in?

We have the same sad state of affairs here. I heard that one of our largest stock brokerages was merging with another large firm. They were setting aside a huge chunk of money to pay signing bonuses to the brokers of the firm that they are taking over. To the tune of 3x's the brokers annual salary, then to keep their own brokers from leaving they are going to match that with their own brokers.
Now my stock portfolio has lost about 50-60% of its value over the last year or so. Wouldn't it make more sense to say match your clients lost income with this money. You can be sure if it proves to be true anyone having stock accounts with them should close their accounts and look for a firm that's investing the money to our benefit.

Those in the *anking industry, through greed, avarice and immense stupidity have destroyed the worlds monetary system (the economy is fine by the way - the two are quite separate). Despite what the *ankers in control of money try to convince us of, money is of no real value, it only only represents the economy, people are actually the economy. If you knew how the monetary system works (which 99% of you wont because *ankers and politicians don't want you to know), you would be out in the streets demonstrating against *ank bail outs as criminal acts assisting criminal people.

The whole *anking industry is a huge pyramid selling con trick.It works like this:-

Once upon a time, the money *anks leant us represented gold in their vaults. Just check any UK note for the "promise to pay the bearer on demand". Slowly but surely over the last 300 years (starting with William of Orange and the Bank of England), *ankers have been allowed to create more and more paper money which supposedly represents the gold in their vaults. The gold hasn't increased, just the amount of paper in circulation. Typically today the ratio is 10:1. This is why a BBC reporter let the cat out of the bag by reporting that "For every pound that Northern Rock loses, it has to stop lending £10".

Erm, so if I start a bank with £1,000 worth of capital (or gold) I can lend £10,000 and charge interest on it? Wow, how do I get into banking!!! Well no actually it's not like that really - that would just be stupid - wouldn't it? The way it really works is that you lend £100,000 based on your inital £1,000 start up deposit. This is because the initial £10,000 you were allowed to create gets loaned out to customers. When the customers redeposit it in your bank, Fractional Reserve rules allow you to lend it out again 10:1.

The spurious argument given by *ankers when lobbying politicians to allow this dubious practice was 'no one ever asks for the gold, so who's going to know this paper stuff is worthless' and as far as stupid politicians are concerned, more paper money in circulation can only be good for the economy - right? Does this sound crazy to you? It does to me too but believe it or not, this is what passes for the World Banking system today. If you don't believe me look up 'Fractional Reserve *anking' on google. Like all fairy tales, it's best read just before bedtime...

Now if this lunacy ended there, it would already be too much for a sane person to believe - even my eight year old can see the problems in this system. You must already know that I'm going to tell you it doesn't end there! As the recent collapse of the monetay system has show us, there is no end to *ankers greed. Not happy to lend more than 100 times what they actually have, *ankers had the audacity to lobby politicians for ever more fraudulent ways to make stupendous amounts of money from nothing.

Eventually, *ankers convinced politicians that since no one ever asks for the gold any more, the gold could be done away with completely. Duely, Gordon sold the UKs gold reserves (at a £2 billion loss). Instead, *ankers convinced politicians that loans have capital value. Erm, WHAT THE F**K did you just say? Yep, *anks are now legally allowed to create money when you borrow it from them. The loan agreement, your commitment to pay the bank backed up by your assets is deemed to have capital value. Your loan agreement is the only thing of value sitting in the bank vaults now. Isn't that cool!!!!

But wait, its even better than that. Even though money is now created at the point of lending, the Fractional Reserve Rules still apply. So when you deposit the money that came in to existence because you promised to pay it back to the bank, the *ank can lend 10 time that amount again. Are you starting to get a feel for why these crooks were so desperate to lend money?

To be fair though, it isn't just the avarice of *ankers that got us into this mess, it was their STUPIDITY too! Because *ankers are really, really greedy, they like to make even more money by charging interest (on the money which was created by our promise to pay and then multiplying it 10 times). However *anks only create the money that we ask to borrow, they don't create the interest they demand too. Spotted the glaring problem with this maybe you should be in charge of the World Bank then instead of the over paid *ankers how do now. Just in case you haven't spotted the problem, it means the banks demand more money back from the system than they created. Put simply, there is never and can never be enough money in the system to pay off all the debts. The only way to hide this teeny weeny little problem is by lending more and more money as quickly as possible. The hope being that the constant flow of new cash will hide the fact that there is never enough. The problem being that each new loan adds to the interest burden of the world.

So Lorna, you shouldn't have got a bonus, your company is both morally and technically bankrupt. Any other company opening its doors for business with their books in the state of a healthy banks would be closed and the directors jailed for fraud. As for a collapsed bank, I think you might guess my opinion

Any way, all I popped by for was to say thanks for the entertaining article on how to water cool with car parts. Sorry I got carried away but it's something I've been working on for the last 5 years.

Cheers V

www.saveourspecies.net

Sixty percent of every penny you earn throughout your lifetime will be paid to the banking industry as interest.