BanksYour Ginger Fuhrer froths, "I hate my bank. Not because of debt or anything but because I hate being sold to - possibly pathologically so - and everytime I speak to them they try and sell me services. Gold cards, isas, insurance, you know the crap. It drives me insane. I ALREADY BANK WITH YOU. STOP IT. YOU MAKE ME FRIGHTED TO DO MY NORMAL BANKING. I'm angry even thinking about them."
So, tell us your banking stories of woe.
No doubt at least one of you has shagged in the vault, shat on a counter or thrown up in a cash machine. Or something
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chthonic, Thu 16 Jul 2009, 13:15)
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IndeedThe monetary system you are refering to which we are all bound with is called fractional reserve banking, it's where the bank can loan 9 times what it owns.
I create a loan for £10,000 pounds the bank pings it into existance if they have a £1,000 asset. Once I pay £100 installment they can then loan another £1,000 to some other mug based on my installment.
This system is just fkd.
(, Fri 17 Jul 2009, 13:01, 1 reply)
It'sActually worse than that... fractional reserve banking happens *after* this - the bank takes what it assumes to be an asset - and loans against it. The CDOs underpinning these are fraudulent and the leverage limit was taken off - used to be 10:1 - now it can be up to 80:1. The money/credit created as a result is counterfeit. We're about to find that out.
(, Fri 17 Jul 2009, 13:43, closed)
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