Banks

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Banks

Post by Doc on Sat Jul 14, 2012 12:11 am

Having witnessed the world falling apart through reliance on the banking system. The collapse of the Euro with massive fall-out felt in this country especially if you were lucky enough (Maybe not) to own 2nd homes in France, Spain, Greece, Portugal or Italy and seen you get wiped out. Then we see massive bankers bonuses even though we own most of the banks. Bob Diamond being such a likeable bloke loses his job because he wasn't aware that a few of his employees were fixing rates, so they could get bigger bonuses. In the USA where it seems they know how to deal with corrupt, fraudulent bankers, it's today emerged that JP Morgan Chase have had to double the ammount of losses they thought they'd lost because one of their traders went rogue. Believe it or not the new figure lost is $4.4bn wow unbelievable amount of cash to lose. But never mind this same company have posted a 3-month profit of $5.43bn, yes thats billion, and in only 3-months.

Why does the world seem mad, why does capitalism only really benefit a few, whilst the rest of us are shafted, punished, made homeless, unemployed. How can it be correct that so many billions can be made as profit in 3-months, when the world around is falling apart. Oil companies, banks, finacial institutions, pharmacuticals, supermarket giants, lawyers ....... maybe its time for a rebalancing of accounts, so I'm looking for alternatives midway between capitalism and communism, sureley theres a 3rd way. oops sorry Tony
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Re: Banks

Post by LadyPutt on Sat Jul 14, 2012 12:17 am

I don't know Doc - have you any idea? It just makes me feel depressed thinking about it, especially as I've just received notification that my savings (for my retirement) have lost £1,000 in the past 6 months. Crying or Very sad
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Re: Banks

Post by Doc on Sat Jul 14, 2012 1:59 am

LadyPutt wrote:I don't know Doc - have you any idea? It just makes me feel depressed thinking about it, especially as I've just received notification that my savings (for my retirement) have lost £1,000 in the past 6 months. Crying or Very sad

Thats one of the most annoying things for all of us. We've all been advised by governments for the last 30-years that we need to opt in to pension schemes,and back then we were given guarantees about the safety of our 'investment'. A few years later the goal posts were moved because people were not staying in 'jobs for life', so needed to move but pensions were frozen. You moved jobs again a few years later and yet another pension gets frozen. Further down the line some people have 4 pensions which are all frozen and doing nothing, so another business gets in on the act to 'consolidate' your frozen pensions so that the new single pension works for you. Then everytime there are financial problems on the stock market your pension gets smaller and smaller. Yet these fund managers are paid huge sums to look after your money, but fail, but still pay themselves a whacking bonus.

I get the gamble about stock markets, but I don't gamble so hold no stocks and shares. These pension funds should have been locked away safe for our retirement, but no, it's been used by someone to feather their own nest. The banks are so greedy that they give us no interest on our savings, even though they use our savings to gamble. When the banks were making huge profits, they gave themselves massive bonuses but didn't bother saying thank you for the loan to their customers, they just shaft us with admin costs etc. We actually have to pay them to look after our money - are we stupid or what
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Re: Banks

Post by scarpa on Sat Jul 14, 2012 5:35 pm

Money is an illusion full stop. (not a reality).
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Re: Banks

Post by BlueCoverman on Sun Jul 15, 2012 2:36 am

That's a relief. I was wondering how I was going to pay that tax bill at the end of the month
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Re: Banks

Post by Doc on Tue Dec 11, 2012 11:17 pm

It seems that the UK banking system is coming under increasing pressure from external forces. 2 UK banks yesterday fined billions in the USA for money laundering drug money and funds for terrorism and Russian mafia. 4 bankers arrested today in conjunction with the recent LIBOR rigging and held at a London police station whilst their houses are raided.

Boris Johnstone states that we need to protect our banks as they bring in billions of revenue, but didn't they cost us billions to bail out. No wonder the Europeans are questioning why London should be held up as the financial sector of world banking. It makes me laugh that we own 2 banks, yet can't make them lend to British industry, even though we put multimillions into these banks recently just for that purpose. The 2 banks we own have the worst record of lending, and are using the latest government cash to bolster their books.

London is the best place in the world for illegal and corrupt bankers, as the FSA have no teeth. The yanks were worse, but at least after the financial meltdown they got to grips with them and legislated correctly so that it could never happen again. We just left them to it and they crap on us and walk away laughing. The yanks through a lot of their bankers in jail.

I'm a capitalist by the way, but believe in protecting British businesses.
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Re: Banks

Post by LadyPutt on Wed Dec 12, 2012 1:33 am

I'm even more convinced I made the right decision to withdraw my invested savings and put them into Premium Bonds. Won £175 last month and another £25 this month. A better return than any bank would give me - and they are safe.
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Re: Banks

Post by Doc on Wed Dec 12, 2012 1:42 am

Sounds like you've covered 2-years membership costs in Scotland Wink Well done
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Re: Banks

Post by LondonJonnyO on Wed Dec 12, 2012 1:59 am

I think the best thing to do is vote me into power as dictator.

I will sort it all out for you although I wont tell you how I did it or why I need to have a fortress built after I'm done.
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Re: Banks

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