Poisonous Banks Destroying World Economy

 

Banks immoral behaviour shrinks World supply of money and destroys economy

For our Global system of money to work we have depended entirely on all our banks to act responsibly, with honesty, morality and probity.Because the banking system realised it could get away with being increasingly dishonest, immoral, completely irresponsible and absolutely without the slightest hint of probity or decency, the currency system of the World has been destroyed by their fraud and breathtaking greed.

We have a system whereby nearly all the money is manufactured by the banks issuing loans to their customers. These loans amount to about ninety five percent of all the money in circulation. Nearly all the money we therefore use is created by a bank making a loan to someone else.

A culture of rapacious, greedy dishonesty was created throughout every aspect of the banking system as the banks tried to lend ever increasing amounts of money with a complete disregard of their poisonous behaviour towards borrowers. They wanted to lend as much money as possible because the more they lent the richer the banks themselves could become at the expense of those borrowers.

So, all this had the effect of putting absolutely every business and individual person into more and more unsustainable debt. The currency system is actually called money as debt and a fractional reserve banking system whereby the banks can create unlimited amounts of money out of nothing. If there were no bank loans at all, there would less than ninety percent of money in circulation and no-one would be paying interest to the banks.

This system allows banks to exercise increasing amounts of control over every aspect of business and personal life. Everyone was at their mercy. All of us were really working for the banks – working hard at earning enough to pay the increasingly absurd levels of interest and penalties on all the banks loans.

Businesses were constantly persuaded to borrow more money to expand, individuals were persuaded to borrow impracticably large mortgages to buy homes and consumer goods they really didn’t need. We were all told how silly we were if we didn’t use credit cards to spend money we didn’t actually have.

The banks were in complete control of almost the entire supply of money everyone depended on to enable all trade and personal commerce to exist. All the money in use could be traced backed through debt after debt issued through the dishonest banking system.

The financial well being of every business and individual now depended completely on the banks and how they behaved, and how honest and moral they were.

When the levels of dishonesty exhibited by the banks became so blatant and unsustainable, it became so extreme it had the effect of making the banks themselves too frightened to lend to each other.

They knew better than anyone else how dishonest and fraudulent their system of loans and debt had become and how each bank would try and outsmart other banks by being even more devious with loans to each other.

So the banks stopped lending to each other because they knew they were ripping each other off with dodgy loans which were less and less likely to be paid back.

If the banks weren’t going to lend to each other it interrupted the circular movement of money from bank to borrower and from that borrower’s loan ending up in another bank which, in turn enabled the next bank to issue more loans of many, many times the amounts actually being deposited in the bank. And so on it went around in endless circles.

But once the banks interrupted the entire money supply by being too frightened to lend to each other, it also had the effect of rapidly shrinking the money supply. The behaviour of the banks is making money literally disappear from existence at exponential speed.

This is the reason people have less and less money to pay their debts or to actually buy anything they need. The World economy is being destroyed by all the banks because of their greed and fraud and their fear of lending to each other. They know how dishonest and unreliable other banks can be with lending money and fear their loans to each other may not be paid back because the system they created is so dishonestly fraudulent and unreliable.

Governments around the World thought by lending gigantic amounts of money to all the banks this problem of confidence in the money supply would go away. All the money Governments loaned to banks would enable them to commence lending to each other again and get the circulation of the whole supply of money moving again.

Government were wrong. They were wrong because lending to the banks didn’t make the banks any more honest or improve their morality or common sense in any way at all. So the banks just pocketed any money they could get hold of, held on to it like grim death, carried on paying themselves ridiculous ‘bonuses’ and still refused to lend to each other.

The fact this also meant they had less and less money to lend to anyone else too, didn’t seem to bother them. They didn’t seem to be able to work out their collective behaviour was rapidly destroying the whole World economy and even themselves as they started to go bust one by one.

If something doesn’t change pretty damn quick they will probably all go bust in the end. But they are too pathetic to see that, as they whimper on about how it isn’t their fault at all. It must be someone else’s fault, they say. Meanwhile things will continue to get much, much worse.

They are liars !

Every single single business, and individual wishes to continue to work hard to earn themselves money. Businesses do not wish to sack employees and cease to exist, employees don’t want to sit around jobless and having their lives being destroyed by unemployment. It is being forced upon them by the banks.

We all depend on being in possession of money to trade and prosper as a business, and in turn pay employees’ wages so they can buy things they need from the businesses that are prospering.

Money is simply a token of trust we can use to give to some one else in exchange for goods or services of actual real value we need from them. They can then use that token of money we give them to buy what they need from others.

The banks have manipulated the money system with sheer greed until it has been taken to the brink of complete destruction by their deviousness.

The banks are the only custodians of the money system. No one else at all has control of it. No Government, business or individual has control of the system of money. It is entirely in the hands of the banks. They have abused it, misused it for their own profit and have shown a callous disregard of the damage they do to everybody they deal with. Their behaviour has been, and still is quite simply disgusting.

The banks cannot be trusted. They created the Worldwide financial recession single handedly with no assistance from any one else. They are currently destroying the money supply everywhere with lightning speed. Their self seeking manipulation of the World’s money supply is destroying everyone’s ability to trade, or have a job, or pay back their debts. The entire money system is collapsing exclusively because of the irresponsible, fraudulent behaviour of the banks.

They are utterly callous in turning tens of thousands of people out of their homes, leaving houses empty, vandalised and pointless useless. They are equally callous as they take away the jobs of millions of people by destroying businesses with toxic loans and making it impossible for trade and commerce anywhere to function normally any more .

With this vicious control of money the banks have, allowing them to say who has a business and trades or who has a job and who doesn’t, who starves or who has a home or who is thrown out of their home onto the street by bank bailiffs, to have their entire lives destroyed by being made homeless, is a grotesque condemnation of modern times.

BANKS BECOMING INCREASINGLY INSANE

I overheard this conversation in one of those ‘chatrooms’ on the internet today and I found it priceless. A little cameo of just how mad the banks are becoming now. It’s no wonder they are busy destroying the Worldwide economy – they have completely taken leave of their senses !

0845/0870 calls from banks

Has anyone else received any? I started getting calls from 0845 3312320 on Tuesday purporting to be from LloydsTSB – an automated message that asks you to ring the number and leave your personal details before you can speak to anyone, which of course I didn’t, thinking it was a scam.

After much hassle and about 20 more of these bloody calls I find out they are indeed from Lloyds and am pretty pissed off. In these days of mass fraud how irresponsible is it for banks to be cold calling and asking for your personal details? Am also doubly annoyed because I’ve had endless problems with fraud in the past five years or so, including my ID and cards being stolen, cloned etc, all of which the bank knows about.

Anyone seen any articles about this kind of thing as I’ll be pitching to the money pages if it’s not been done to death.

……..Yep I regularly get them from HSBC too, even though I switched banks a year ago
 

……..Natwest is doing something similar. My bank and other companies have rung me before now and been astonished when I insist on ringing them back before giving any personal info.

……..I did an article about this for the Telegraph – my husband received an automated call from Lloyds when they stopped his card when we were in Morocco. Actually the article was more about cards being stopped when you are on holiday, but that was in there.

……….Lloyds stopped my card after my tenants paid money INTO my account. Their excuse was that it was an unknown transaction – all £750 of it.

…………Lloyds are quite heavy handed about stopping cards. They stopped Alex’s because of “suspicious payments” – it was £30 for our regular Friday night take aways.

……………Whaat?!

…….I know, I thought I’d heard everything. It was a Saturday too, so I couldnt’ even go into a branch. Luckily I was with a friend and she lent me some money so I didn’t have to pay for my bus fare, bagel and coffee with my credit card. I then spent a frustrating hour trying to explain to Lloyds that freezing someone’s account because a couple of hundred quid had been paid into it was not in any way, shape or form helping to safeguard against fraud. And then they ring you up and ask you tell all to machine. Ha!

Aren’t the banks simply a delight to do business with these days !

Or perhaps they are just run by half wits who are so obsessed with their own culture of rapacious greed and vicious treatment of customers, they don’t understand how destructive and immoral they really are.

They seem to be so arrogant they actually think they can do absolutely anything they please with a total disregard of honesty and law.

ARE MORTGAGE LENDERS IDIOTS ?

 

I haven’t got a lot of news really. I have been running around like a headless chicken trying to do all the relevant things to deal with the house repossession, but it has all been a monumental waste of time so far. All those people that say they can help – the Citizen’s Advice Bureau and so on, do absolutely nothing of the sort. They simply waste vast amounts of your time. There is a huge army of job creation experts out there who are paid to do absolutely nothing useful at all. I have met loads of them in recent times.

 

Specifically, I went to the CAB to try and get legal representation through them. No solicitor wants to take on any legal aid cases because the government only pays them £25 an hour (so I’ve been told) and expects them to spend no more than four hours on a repossession case. As plumbers earn three times that hourly rate, you can see why solicitors aren’t interested.

 

Anyway, the CAB sanctimoniously go on about how they are going to help you, and they told me they had a pet solicitor who actually did do legally aided work for them.

 

So I see this solicitor, who makes a swift £100 for a thirty minute interview during which he says he will not represent me in court at all but will only give me ‘legal advice’ which turns out to be a two page letter he obviously sends to everyone telling them just the basics of law a litigant in person might choose to use as they represent themselves in court. What a con !

 

So he effectively ends up getting his standard fee of £100 per hour by billing the State for four hours at £25, but only needs to see me for half an hour and then just sends a standardised letter and  he expects me to be so thick as to believe has been written just to me and the identical letter not sent to several hundred other clients of his too !

 

Anyway, there was nothing in his ‘legal advice’ which I didn’t know already, so the whole exercise – including me having to travel down to Littlehampton to see him (£12 in petrol alone) was an utter waste of time.

 

So, I’m off to court tomorrow to ask for the case to be ‘put aside’ and be re-heard to give me more time and I will write a carefully constructed letter to the lender trying to persuade them to  give  me more time to find an income etc. Unfortunately, that is almost certain to be a waste of time as lenders are completely uninterested in being helpful.

 

They are rather bizarre because they instantly foreclose on gigantic numbers of mortgages which are only a a handful of months in arrears. This then has a very detrimental effect on their own balance sheets for highly complex reasons of economics, which is precisely the reason there is currently a Worldwide money crisis. It is a self generated, self fulfilling prophecy of financial meltdown wholly engineered by mortgage lenders around the globe.

 

This may sound incredible, but it is not my fevered imagination working. It is completely true ! I have taken the trouble to learn a bit about economics and how banks actually function and precisely what mechanisms are currently driving the present financial crisis. It is precisely what I have just outlined.

 

For instance, I only actually owe no more than a couple of thousand pounds at present. But the lender will force me out of the house in a few weeks  because they do have that legal right, and that is their standard practice.

 

However, what will then happen is they will attempt to sell the house. But because of the unusual financial conditions prevailing in this country and all over the rest of the World a the moment, there is no longer any money available for anyone else to obtain a mortgage to buy any property. So they will be unable to sell my house. So the lender has not retrieved his loan to me, I still owe it, the asset covering the loan vanishes and the lender isn’t getting the monthly payment he would be currently getting from me. Everyone loses- particularly the lender.

 

House prices everywhere are plummeting and will continue to drop because no one can borrow money to buy houses any more. There are already whole streets of empty houses rapidly becoming derelict and therefore  completely worthless in America because of just this mechanism.

 

On the other hand, if the mortgage lender was less spiteful, he wouldn’t be completely wrecking the entire mortgage market for everyone as well as the Global economy too.

 

In my case, as with many other re-possession cases, if the lender left me in the house he would be paid at least half the mortgage bill by me at present, and by avoiding forcing houses onto the market which cannot sell and will only become increasingly worthless as they stand empty, the lenders would not collectively be destroying the whole World economy as they are are presently doing.

 

Most householders, like me, would recover their incomes eventually and be able to repay their mortgages and make up the arrears. But no, the banks can’t see further than the ends of their quivering little rodent  like noses.

 

They are greedy, selfish idiots. And now they have been found out, as you will see if you have been reading the newspapers recently.

ROGUE ECONOMICS – ARE BANKS LIARS AND THIEVES ?

ARE THE BANKS DECEIVING EVERYONE – INCLUDING POLITICIANS ?

Probably. But how are they getting away with it ?

We are told that bank or mortgage lenders a or b have posted huge losses of billions here and billions there because of ‘bad’ mortgages that borrowers cannot repay.

As a result World banking has seized up and the World economy is grinding to a halt everywhere with huge inflation and increasing poverty.

The gigantic figures for losses that the mortgage lenders talk about do not seem to make the slightest sense because they appear to be much larger that could ever be conceivably possible.

Mortgage lenders talk of huge losses, particularly on the sub-prime market as people cannot repay housing loans and houses are re-possessed.

But as most houses repossessed are sold and mostly repay the mortgage loans in full, there are absolutely no losses for the mortgage lenders with those housing loans that were completely recovered without loss to the banks.

While there are some repossessed properties that do produce varying degrees of loss for the lender, they are a relatively small number of repossessions and cannot possibly add up to the silly figures of billions that the banks claim.

For example, if an average mortgage loan is £200 000 and there is a total loss of that loan to the bank because the property is repossessed, then the approximate total annual repossessions here in the UK of about 40 0000 properties, assuming that each repossession represented a total loss of the entire value of the average loan, would be 40k x £200 000 = £8 000 million or £8 billion in total ONLY !!!

This figure can be approximately multiplied up for the USA’s bigger population by a factor of, say six, to produce a maximum loss figure of £48 billion which is so much smaller than the losses being claimed by the banks it is laughable.

Combine these two total loss figures of both the UK and the USA and it adds up to a total of £56 billion, not the many, many hundreds of millions all the banks are claiming.

It also must be pointed out that the above calculation assumes that every repossession represents a complete and total loss of the entire loan for the lender. Obviously this cannot be the case because most repossessed properties are sold and repay the lender in full. Very few repossessions end up in any loss and even fewer end up with total loss. That figure must be a microscopic one.

This would make the real, actual loss figures for the banks infinitely less than this maximum possible figure of about £56 billion. This makes their claims for hundreds of million in losses incomprehensible.

So, can someone tell me what on earth the banks are talking about when they say they are losing billions ? Can it be they are making up fairy tale figures based perhaps on what incomes and profits they imagined they might earn at some vague point in the future.

In other words the whole thing seems to have been hyped up as a figment of the fevered imagination of bankers utterly obsessed with their own greed.

How are the huge figures for losses posted by banks calculated ? And why would any particular lender suddenly and dramatically ‘go bust’ overnight owing hundreds of millions.

I just don’t get it. The figures don’t add up. They seem to be living in some fantasy land.

Can some kind economist explain this to me – and all the other millions of very puzzled members of the population who really do not understand all this gibberish talked by the banks and politicians ?

Have a look at the book Rogue Economics by  Loretta Napoleoni