Are the bankers killing America?

[Mai72]

Whenever people talk about the state of our economy they bring up the usual suspects: Big business, the President, and Congress. It seems that people leave out the bankers. The people who control the money. These are the people that run the show. They tell the President and Congress what to do. Behind closed doors they give the orders.

I'm talking about people like the Rothchilds, and how they manipulate our currency. Now I am sure that somebody here can explain it better then I can. Please go ahead. I found this video that best explains the situation that we are now in.

https://www.youtube.com/watch?v=tGk5ioEXlIM

*The bank makes money by making loans. Even bad loans.
*Their objective is to put people in debt.
*The fed loans the banks money with interest.
*The fed prints and controls the money. They charge interest so now the government has to tax us to pay back the fed.
*The objective of private banks is to put us in debt for life!

The video does a good job at showing just how much power the fed has over America.

 

[LegendKiller]

Whenever people talk about the state of our economy they bring up the usual suspects: Big business, the President, and Congress. It seems that people leave out the bankers. The people who control the money. These are the people that run the show. They tell the President and Congress what to do. Behind closed doors they give the orders.

I'm talking about people like the Rothchilds, and how they manipulate our currency. Now I am sure that somebody here can explain it better then I can. Please go ahead. I found this video that best explains the situation that we are now in.

https://www.youtube.com/watch?v=tGk5ioEXlIM

*The bank makes money by making loans. Even bad loans.
*Their objective is to put people in debt.
*The fed loans the banks money with interest.
*The fed prints and controls the money. They charge interest so now the government has to tax us to pay back the fed.
*The objective of private banks is to put us in debt for life!

The video does a good job at showing just how much power the fed has over America.

LOL - you are wrong on every single bullet point....

- Banks don't make money on bad loans if interest rates are low. When I mean "low", I mean any rate lower than 25-30% on a longer term collateralized loan (autos) and 50%+ on an unsecured short-term loan. Most credit cards don't "make" money if they default within a year or two. Banks lending at 6% on a 5-year auto loan with a 110% LTV won't "make" money on that loan since a used vehicle may only recover 70%, at best.

- The objective is to lend money to the people who want it for current consumption.

- Pray tell how many banks the Fed is currently lending money to. I would really love to know.

- The Fed issues and controls the money pursuant to Congressional mandate. The interest paid to the Fed is rebated, after costs and small dividends to the Fed member banks, back to the US Treasury. In fact, the vast majority of interest paid to the Fed is rebated. In this you are laughably wrong.

- Banks don't put people into debt for life, people put themselves into debt for life.

 

[dmcowen674]

Are the bankers killing America?

Whenever people talk about the state of our economy they bring up the usual suspects: Big business, the President, and Congress. It seems that people leave out the bankers.

Newsflash - Banks are Corporations

 

[zephyrprime]

Fractional reserve banking is ruining the entire world. Banks can lend out more money than they have in deposits. They are the prime reason the rich get richer because they funnel money creation to primarily the rich. The problem is, eventually there is more debt than can be paid off because all the inflationary money printing only created debt based money rather than unencumbered true fiat money. That is the situation the world is in right now. The economy sucks because we can't expand the money supply because we are already at the saturation limit for debt. Funny enough, the situation is kinda like being on the gold standard because the gold standard also doesn't allow for much expansion of the money supply.

 

[Mai72]

Did you guys look at the video? My bullet points were directed at the video. I am just detailing some of the things I learned from watching the video. I should have been more clear.

What else did I learn from watching this video?

*Thomas Jefferson knew that having a centralized bank was wrong and that it would destroy America.

*Kennedy was killed because he wanted to sign bill 1001 which would have taken power away from the fed.

 

[silverpig]

LOL - you are wrong on every single bullet point....

- Banks don't make money on bad loans if interest rates are low. When I mean "low", I mean any rate lower than 25-30% on a longer term collateralized loan (autos) and 50%+ on an unsecured short-term loan. Most credit cards don't "make" money if they default within a year or two. Banks lending at 6% on a 5-year auto loan with a 110% LTV won't "make" money on that loan since a used vehicle may only recover 70%, at best.

- The objective is to lend money to the people who want it for current consumption.

- Pray tell how many banks the Fed is currently lending money to. I would really love to know.

- The Fed issues and controls the money pursuant to Congressional mandate. The interest paid to the Fed is rebated, after costs and small dividends to the Fed member banks, back to the US Treasury. In fact, the vast majority of interest paid to the Fed is rebated. In this you are laughably wrong.

- Banks don't put people into debt for life, people put themselves into debt for life.

1. They can and do so long as there is a secondary market for these loans.

 

[Texashiker]

LOL - you are wrong on every single bullet point....

- Banks don't make money on bad loans if interest rates are low.

That is not correct.

Banks will make bad loans, bundle those loans, then sell that as a mortgage backed security.

So yes, banks can make a massive amount of money on bad loans, because they sale those loans to investors.

http://dealbook.nytimes.com/2014/02...rtgage-settlement/?_php=true&_type=blogs&_r=0

- Pray tell how many banks the Fed is currently lending money to. I would really love to know.

Over the past couple of years the federal reserve has printed enough money out of thin air to buy $3 trillion dollars of mortgage backed securities.

As of right now the federal reserve is one of the largest property owners in the united states. It sure is funny how the fed started buying $85 billion a month of bonds and securities shortly after one of the biggest real estate crashes of all time.

- Banks don't put people into debt for life, people put themselves into debt for life.

People are conditioned from the time the are young to carry a certain amount of debt. Just about everything you do in life requires a good credit rating. The only way to have a good rating is to carry debt.

 

[s0me0nesmind1]

Every single type of industry in our marketplace buys politicians under the table.

Farming
Retail
Cable/TV/Phone
Construction (especially government contracted)
Government Health Care sign-up websites (Ring a bell?)

If you think banks are the only one's that buy legislation and make incredibly fucked up contracts with our government you obviously haven't learned much.

 

[Texashiker]

Every single type of industry in our marketplace buys politicians under the table.

Bankers are the only industry that gets their money for zero interest, right off the printing press.

 

[Newell Steamer]

Bankers is a misnomer, because there are no banks.

Back when assests were hard (metals) and tangible (notes, bills, etc.), sure, those were banks. They stored your money and loaned it out to make more money and keep the return, because you were fucking stupid enough to give them your money.

Since the emergence of e-commerce (close networks and eventually the internet,...), banks are nothing more than harvesters for liquid assets.

Think of them as vacuums, that pull in your paycheck (to your checking/savings accounts) and start loaning out your cash (from the paycheck that isn't even actually cashed) so they can make money off of it.

So, "bankers" are nothing more than scavangers. That take and then create wonderful new ways, to use your hard earned money, to make more money, for themselves.

It's not that bankers are killing America. It's that scavangers are killing America. They get reckless with your money, still get paid and then when they do something that ruins the compnay, global economy and your credit score/earnings it's:
- well, all those poor people shouldn't have borrowed money
- it's OK, the government will bail me out
- prison!? Noooo, it's how the industry works! It's will recover,... ::takes 1st plane to Switzerland::
- you don't agree with my ethics (or lack there of)? Well, you must be a communist and an enemy of the USA, or fucking stupid (the last part is the contempt towards people who aren't willing to lie, cheat and steal for a living,...)

Bankers aren't viewed as what they really are. Sure, they present themselves as professionals. As certified experts. As licensed industry gurus. But, they are nothing more than theives. And, they should be treated as such.

But, they are not.

 

[unokitty]

Banks are an issue. But I think that the problem has a larger scope. I think that the problem would be more properly characterized as 'special interests.' And, from my perspective, the problem is getting worse.

On this issue, Lessig is pretty articulate. For example:

Wealth may always have a larger claim on power, but Lessig says money and the special interests that wield so much of it today have clogged the system so completely that we are unable to address sensibly the most pressing problems facing the country. From climate change to health care, or even an obesity epidemic we help fuel through subsidies on foods that add to the problem, Lessig says the outsize influence of special-interest money amounts to a form of legal corruption that threatens the very foundations of the American system.

Lessig, a professor at Harvard Law School, lays out his book-length indictment in Republic, Lost: How Money Corrupts Congress—and a Plan to Stop It, which documents all the ways legal corruption infects our system, subtle and not. In the 1970s, he writes, just 3 percent of outgoing members of Congress became lobbyists. From 1998 to 2004, more than half of all departing senators and 42 percent of those leaving the House went through the revolving door to join the ranks of influence peddlers.

Uno

 

[jlee1]

I agree on every point you made. We(USA) have been to war with numerous nations in the world. Before our involvement, the countries did not have a (Rothschild controlled)central bank in their land. After killing thousands of innocent civilians and profiting from their natural resources for ourselves, we establish a central bank. In 2000, there were 7 countries without a Rothschild controlled central bank: Afghanistan, Iraq, Sudan, Libya, Cuba, North Korea and Iraq; now there are only 3( Cuba, North Korea and Iran.)
Most people will argue this of being a conspiracy, but look at the facts and do some research people! The people who control our money control us. We're all slaves to banks. The American dream is: DEBT. Corporations and media are deceitful and only manipulate us to spend more so we don't come out of debt and the benefits of the rich. CEO pay has increased more than tenfold since the 1960s, but the average worker's wage has risen unimaginatively less.
The president is just a puppet while the bankers/corporations run/own the rest of the world including the media outlets.
IMO, ultimately their objective is to wipe out the middle class(tremendous amt of evidence..it's quite common sense.. it's been happening forever in front of our eyes) and create a much bigger, extensive gap between the poor and the rich.
It's a sad and dramatic world.

 

[werepossum]

Just more proof that there is no wisdom to be found on Youtube.

tl/dr: No.

 

[Pocatello]

I agree on every point you made. We(USA) have been to war with numerous nations in the world. Before our involvement, the countries did not have a (Rothschild controlled)central bank in their land. After killing thousands of innocent civilians and profiting from their natural resources for ourselves, we establish a central bank. In 2000, there were 7 countries without a Rothschild controlled central bank: Afghanistan, Iraq, Sudan, Libya, Cuba, North Korea and Iraq; now there are only 3( Cuba, North Korea and Iran.)
Most people will argue this of being a conspiracy, but look at the facts and do some research people! The people who control our money control us. We're all slaves to banks. The American dream is: DEBT. Corporations and media are deceitful and only manipulate us to spend more so we don't come out of debt and the benefits of the rich. CEO pay has increased more than tenfold since the 1960s, but the average worker's wage has risen unimaginatively less.
The president is just a puppet while the bankers/corporations run/own the rest of the world including the media outlets.
IMO, ultimately their objective is to wipe out the middle class(tremendous amt of evidence..it's quite common sense.. it's been happening forever in front of our eyes) and create a much bigger, extensive gap between the poor and the rich.
It's a sad and dramatic world.

All very true, but I rather live as a slave working for some big evil corporation in the USA than living as a freeman in North Korea, Cuba, or Iran. Crazy huh?

 

[Spungo]

- Banks don't put people into debt for life, people put themselves into debt for life.

Correction: the US government puts people into debt for life. I think it was Bush who passed the law saying student loans stay with you for life. We end up with this weird situation where a 17 year old kid who doesn't know a damn thing about money can get a 100k loan from the government to get a degree in gender studies. The government has totally ruined the country. If students had to rely on private loans, the lender would do their homework and decide if the loan would actually be paid back. A bank will not lend 100k to some person to get a worthless degree, but the government will.

Bankers are the only industry that gets their money for zero interest, right off the printing press.

Insurance companies get their money for free because premiums are paid up front. Insurance companies are actually more profitable than banks.

 

[Linux23]

I feel sorry for this country. When this Ponzi system they called the federal reserve crashes (when the dollar becomes the toilet paper it is now), I wonder how many people will resort to looting to save their loved one's.

Sad how easily people in mass can become fooled.

 

[Mai72]

I feel sorry for this country. When this Ponzi system they called the federal reserve crashes (when the dollar becomes the toilet paper it is now), I wonder how many people will resort to looting to save their loved one's.

Sad how easily people in mass can become fooled.

That's why I have made investments in Silver. Did you guys know that silver is superposed to gain in value 10 fold by 2020. Your cellphone, watch, television, and other major consumer items use silver. In Taiwan the rich have huge vaults that have nothing but silver.

 

[Pocatello]

That's why I have made investments in Silver. Did you guys know that silver is superposed to gain in value 10 fold by 2020. Your cellphone, watch, television, and other major consumer items use silver. In Taiwan the rich have huge vaults that have nothing but silver.

Ah I see, so this thread is about peddling the value of silver. Very subtle.

 

[LegendKiller]

Fractional reserve banking is ruining the entire world. Banks can lend out more money than they have in deposits. They are the prime reason the rich get richer because they funnel money creation to primarily the rich. The problem is, eventually there is more debt than can be paid off because all the inflationary money printing only created debt based money rather than unencumbered true fiat money. That is the situation the world is in right now. The economy sucks because we can't expand the money supply because we are already at the saturation limit for debt. Funny enough, the situation is kinda like being on the gold standard because the gold standard also doesn't allow for much expansion of the money supply.

Let me ask you something, what would happen if you disallowed FRB? Would debt suddenly disappear? No, it wouldn't. When the US was under the gold standard, the true gold standard, there was a run on our gold standard and it took JP Morgan floating a bunch of bonds to purchase more gold in order to shore up the US Treasury. That was after we were in too much debt and the French and other investors began to redeem it for gold, draining our gold reserves.

FRB is the boogeyman and the panacea that people who are ignorant of reality and history like to throw around.

 

[LegendKiller]

I feel sorry for this country. When this Ponzi system they called the federal reserve crashes (when the dollar becomes the toilet paper it is now), I wonder how many people will resort to looting to save their loved one's.

Sad how easily people in mass can become fooled.

Not even Mish thinks that the dollar will become "toilette paper", the mere concept ignores the reality of the world we live in.

For the USD to become "toilette paper" all confidence in the world's largest economy, military, IP portfolio, tech base, manufacturing base, resource rich country, and one of the most educated populations has to evaporate to be taken over by another country with more transparent markets and a dominating economic position.

That ain't going to happen in my lifetime, nor yours, nor your kids, nor their kids.

 

[LegendKiller]

Correction: the US government puts people into debt for life. I think it was Bush who passed the law saying student loans stay with you for life. We end up with this weird situation where a 17 year old kid who doesn't know a damn thing about money can get a 100k loan from the government to get a degree in gender studies. The government has totally ruined the country. If students had to rely on private loans, the lender would do their homework and decide if the loan would actually be paid back. A bank will not lend 100k to some person to get a worthless degree, but the government will.


Insurance companies get their money for free because premiums are paid up front. Insurance companies are actually more profitable than banks.

Ever hear of Sallie Mae?

 

[LegendKiller]

That is not correct.

Banks will make bad loans, bundle those loans, then sell that as a mortgage backed security.

So yes, banks can make a massive amount of money on bad loans, because they sale those loans to investors.

http://dealbook.nytimes.com/2014/02...rtgage-settlement/?_php=true&_type=blogs&_r=0

I buy those loans, all day. I have sold them, structured them and now I buy them. You are missing one key aspect, in all cases outside of the mortgage market and few select situations in history, there has never been an epidemic of mass defaults in securitization. Let me repeat that, outside of mortgages there has never been an entire asset class that has resulted in investors taking a loss on a senior basis.

Even Advanta's wind-down the senior investors are getting all of their money back. There are some SLABs where senior investors are losing money, but very few. Those are deals such as the MyRichUncle, or a few others. Heck, even the front-pay tranche of First Marblehead deals are going to get paid.

Furthermore, the bulk of securitizations are sold by companies that have a large amount of money at risk. Take a deal such as CNH's loan program, they have at least 5% of their money at risk, compared to losses of less than 1%.

The vast majority of losses are borne by the banks, or lending institutions, so the idea that they make money on bad loans is ludicrous. If you knew anything about finance you'd know how silly your ideas is.

Over the past couple of years the federal reserve has printed enough money out of thin air to buy $3 trillion dollars of mortgage backed securities.

As of right now the federal reserve is one of the largest property owners in the united states. It sure is funny how the fed started buying $85 billion a month of bonds and securities shortly after one of the biggest real estate crashes of all time.

So what? They aren't lending money to the banks. Entities are originating a $100 mortgage which the bank funds with $100 of debt and equity. The bank turns around and sells that to Fannie and Freddie and gets $100 back. Fannie and Freddie package it and sell it to the Fed, or the Fed buys that MBS from the banks. However, the banks would actually like to buy MBS but there isn't enough for them to buy. Furthermore, now that they need to hold highly rated assets as part of regulations, they need them. Finally, because the Fed buys them the banks (and money managers) buy other assets with the money *OTHER PEOPLE* lend them.

Saying the Fed is lending banks money is akin to saying that if I buy a car and then sell you the car that you are lending me the money which you bought the car with. There is no promissory note created between the two of us. I have something you want, you buy it, there is no "lending" involved.

Now if you want to say the Fed is creating a situation where the banks can't find enough assets to buy so they actually lend the Fed money in the form of excess reserves, I'd agree with you.

People are conditioned from the time the are young to carry a certain amount of debt. Just about everything you do in life requires a good credit rating. The only way to have a good rating is to carry debt.

Not really, you are effectively born with a prime credit rating. There are many lenders that will give you a "thin file" loan.

 

[LegendKiller]

Did you guys look at the video? My bullet points were directed at the video. I am just detailing some of the things I learned from watching the video. I should have been more clear.

What else did I learn from watching this video?

*Thomas Jefferson knew that having a centralized bank was wrong and that it would destroy America.

*Kennedy was killed because he wanted to sign bill 1001 which would have taken power away from the fed.

Do you think I give a shit about some youtube.edu video? Get a real education.

- Thomas Jefferson is probably the biggest hypocrite in American history. A guy who believed in the freedom of humans yet refused to free his own slaves, even when he died, even his lover. A guy who railed against banks and debt yet overspent his entire life. A guy who rallied for small government and limited government debt yet expanded the executive and overstepped his boundaries, both in power and in monetary action.

Using him as some type of paragon of virtue or even a very good role model is silly. I admire the guy but the pedestal people put him on is asinine.

- You have no proof Kennedy was killed for anything. He could have been killed for any number of reasons. Furthermore, it wasn't a "bill", it was an Executive Order and it was 1110. additionally, it wasn't going to get rid of the Fed, it was going to actually facilitate the ability for the Fed to expand into smaller denomination bills, thus the Executive Order was actually going to give the fed *MORE* power.

This is what happens when you listen to the internet and moronic youtube.edu dipshits than actually read history and understand what was really going on for yourself.

 

[MagickMan]

Stop listening to Alex Jones, seriously.

 

[jlee1]

All very true, but I rather live as a slave working for some big evil corporation in the USA than living as a freeman in North Korea, Cuba, or Iran. Crazy huh?

not crazy at all. some americans are sheep(no idea that they're being fucked by the very thing that they swear to defend) and some are aware but don't really care as long as they have a consistent life. i don't blame you. as much as i would like to see a revolt or revolution, the idea of just carrying my life on quietly seems really acceptable :biggrin: