Banking: Stitch-Up And Debt Shackle

Ringfencing retail banking.

Banking has conditioned people to associate the grotesque bonus culture with modern-day society. The average bank employee is unlikely to 'earn' anything like these figures communicated by the media. This itself suggests a deliberate action to mislead and confuse. The assumption is that these influential 'bankers' actually know what they are doing.

Retail banking and 'casino' banking (where the chancers speculate with others' money in their attempts to 'win' personal unearned wealth). Speculation places consumer finance at high risk. There have been many, many losers created by the risk takers (potential profitable 'wins') placing poor bets. Any amateur can play poker with someone else's money, but to gamble with your own? Different story completely. The institution itself feels safe since it cannot lose: when things shift downwards the taxpayer always comes to the rescue as an uninvited and otherwise unwelcome player. Just bring your money.

As soon as possible condition the young to debt and paying interest for nearly everything. Reduce pay (the minimum wage description is simply a con) and so with rising inflation ensure debt is the only way forward in order to survive.

Debt is a fiction since the original 'loan' is fictional (virtual wealth) and the interest on this fiction is used again to 'create' more debt. Technically, on paper the finance exists since existing loans have a return in principle: the theoretical payback. When the expected finance that has been used (virtually since it doesn't exist) fails to 'materialise' (defaulting on repayment), the reality is the state of financial affairs in Greece.

The shackle that controls those with debt only encourages theft and fraud. It's the 'cheap' option to avoid any costs at all. So, by introducing interest and debt this has fostered fraud. Modern day techniques (digital) have actually made it easier to defraud the less aware.

Where does this go?

The total crash of global society

When it all goes 'belly up' the system can be seen for what it has become today. Complete failure and like an old car, there comes a time when paying good money after bad is not viable (at some future time after things have started going wrong). The financial system is propped up on a daily basis in the doomed attempts to 'fix' the system. This, of course, simply moves the problem and in the process generates a bigger and worse one. Unlike a car a new one cannot be 'purchased'. The system is failed and that's it. End of story?

NO!

The system has to remain in all its failure. Or the rich become losers. The system has not only failed, but backfired terribly.

This is finance and it creates more losers than winners and eventually EVERYBODY loses.


ABSOLUTELY EVERYBODY