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PopGun

No One Forced The General Public

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By all means feel free to round up the bankers and feckless MEWing 6x salary 100%+ mortgage holders, just don't forget who gave them the leverage in the first place.

Savers and STR’s didn’t start the fire, they just supplied the wood for the bankers to burn. To blame all this on feckless borrowers, and then claim savers were "only doing the right thing" is quite obsurd to say the very least.

It wasn't just the indebted who got bailed out.

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By all means feel free to round up the bankers and feckless MEWing 6x salary 100%+ mortgage holders, just don't forget who gave them the leverage in the first place.

Savers and STR's didn't start the fire, they just supplied the wood for the bankers to burn. To blame all this on feckless borrowers, and then claim savers were "only doing the right thing" is quite obsurd to say the very least.

It wasn't just the indebted who got bailed out.

sure, savers invented the "wall of money" scams, off balance sheet conduits, CDO squared, and QE.

they deserve to be flogged.

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IMO anyone who borrows and owes money are the assholes of capitalism. The ones right at the bottom who don't own anything. I've borrowed in the past to buy tat but have now cleared the lot, because owing money to scum banks etc isn't any way to live your life.

Save and invest is what people should be doing. Not getting 4x4's and fur coats on tick. IMO!! :0

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By all means feel free to round up the bankers and feckless MEWing 6x salary 100%+ mortgage holders, just don't forget who gave them the leverage in the first place.

Savers and STR’s didn’t start the fire, they just supplied the wood for the bankers to burn. To blame all this on feckless borrowers, and then claim savers were "only doing the right thing" is quite obsurd to say the very least.

It wasn't just the indebted who got bailed out.

Idiotic post. Do you think the banks have only lent out their total customer deposits????

Hindsight is 20:20 vision, and your still blind!

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By all means feel free to round up the bankers and feckless MEWing 6x salary 100%+ mortgage holders, just don't forget who gave them the leverage in the first place.

Savers and STR’s didn’t start the fire, they just supplied the wood for the bankers to burn. To blame all this on feckless borrowers, and then claim savers were "only doing the right thing" is quite obsurd to say the very least.

It wasn't just the indebted who got bailed out.

There is a slight problem here because Savers did not provide the fuel. Once the banks ran out of cash they discovered a means of securitising loans so that they could continue selling lending money out (from pension funds desperately looking for "safe" investments).

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Err the whole FIAT money system is designed to herd you to the bankers - implicit depreciation of money, the rules regarding cash transactions, the tax of potenitall alternative forms of means of exchange such as silver.

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There is a slight problem here because Savers did not provide the fuel. Once the banks ran out of cash they discovered a means of securitising loans so that they could continue selling lending money out (from pension funds desperately looking for "safe" investments).

Not so much the flight to safety (only safe in regards this toxic dump was rated so that pension funds could buy it), the central banks implictly herded the pension funds into this shit by openly setting the base rate for everything else so low, from that point on the pension funds were in the shit if they didn't perfro a miracle and get a realistic return to cover liabilities, they were forced to block their noses and ignore the smell.

Edited by OnlyMe

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sure, savers invented the "wall of money" scams, off balance sheet conduits, CDO squared, and QE.

No they didn't, but neither did the borrowers. Yet you already know this.....

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By all means feel free to round up the bankers and feckless MEWing 6x salary 100%+ mortgage holders, just don't forget who gave them the leverage in the first place.

Savers and STR’s didn’t start the fire, they just supplied the wood for the bankers to burn. To blame all this on feckless borrowers, and then claim savers were "only doing the right thing" is quite obsurd to say the very least.

It wasn't just the indebted who got bailed out.

Hmmm. easy to say in hindsight.

Unless you get told this when you open a savings account,

"Depositing your £10,000 will allow your bank to lend that out 9 times to others, inflating property beyond your reach and causing a wordwide financial collapse"
I think your point is moot.

However, borrowers were consistently warned "Your home may be repossessed if you do not keep up repayments on your mortgage." and to "make sure that you can afford the repayments"

So, for me it's anything but absurd to lay blame on reckless borrowing/lending.

Edited by Reck B

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IMO anyone who borrows and owes money are the assholes of capitalism. The ones right at the bottom who don't own anything. I've borrowed in the past to buy tat but have now cleared the lot, because owing money to scum banks etc isn't any way to live your life.

Save and invest is what people should be doing. Not getting 4x4's and fur coats on tick. IMO!! :0

Really? Thanks to our obsurd economy, how many businesses would exist today without any borrowed capital?

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Really? Thanks to our obsurd economy, how many businesses would exist today without any borrowed capital?

Banks have shown themseves to be inebt and utterly incapable to funding businesses. All they do is tilt and destroy what could be a functional investment market. They have pumped up the cost of every business, premises, land anad everything that springs from those.

If they have done such a good job and if this source of finance is so good why is the economy in such an apalling state?

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Idiotic post. Do you think the banks have only lent out their total customer deposits????

No, but nice try in shutting down the argument instead of constructively contributing to it....

Hindsight is 20:20 vision, and your still blind!

the irony on this board holds no bounds...

Edited by PopGun

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By all means feel free to round up the bankers and feckless MEWing 6x salary 100%+ mortgage holders, just don't forget who gave them the leverage in the first place.

Savers and STR’s didn’t start the fire, they just supplied the wood for the bankers to burn. To blame all this on feckless borrowers, and then claim savers were "only doing the right thing" is quite obsurd to say the very least.

It wasn't just the indebted who got bailed out.

I assume thispost is not serious. Savers are entitled to expect to be able to deposit money safely with high credited rated institutiions. It is the regulatory authorities and the banks themselves who determine their lending and gambling policies.

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Really? Thanks to our obsurd economy, how many businesses would exist today without any borrowed capital?

At a guess, & if we could rewind and start again before 'finance', I'd say many, many more.

I'd also say they would be different businesses based on actual need, more profitable and much less prone to administration/liquidation from external factors.

Edited by Reck B

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There is a slight problem here because Savers did not provide the fuel. Once the banks ran out of cash they discovered a means of securitising loans so that they could continue selling lending money out (from pension funds desperately looking for "safe" investments).

True, but they still needed to feed the variables to maintain the (so called) balance sheets.

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Hmmm. easy to say in hindsight.

Unless you get told this when you open a savings account, I think your point is moot.

However, borrowers were consistently warned "Your home may be repossessed if you do not keep up repayments on your mortgage." and to "make sure that you can afford the repayments"

So, for me it's anything but absurd to lay blame on reckless borrowing/lending.

My parents were TOLD their endowment would cover their mortgage, and they were also TOLD they'd recieve a cash sum.....

Money for nothing and the chicks are free.

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Banks have shown themseves to be inebt and utterly incapable to funding businesses. All they do is tilt and destroy what could be a functional investment market. They have pumped up the cost of every business, premises, land anad everything that springs from those.

If they have done such a good job and if this source of finance is so good why is the economy in such an apalling state?

Can't argue with that.

I'm not defending the banks, I'm not even defending borrowers. Just pointing out that ignorance is no defence of hypocrisy.

No point protesting and whinging about a monitory system you actively take part in.

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My parents were TOLD their endowment would cover their mortgage, and they were also TOLD they'd recieve a cash sum.....

Money for nothing and the chicks are free.

Endowments were (supposed) to be sold with all associated risks explained.

If savers were told that by depositing their cash, banks could invent new money, lend the new money to people pushing the price of property, leading into economic collapse, you'd have a point.

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By all means feel free to round up the bankers and feckless MEWing 6x salary 100%+ mortgage holders, just don't forget who gave them the leverage in the first place.

Savers and STR’s didn’t start the fire, they just supplied the wood for the bankers to burn. To blame all this on feckless borrowers, and then claim savers were "only doing the right thing" is quite obsurd to say the very least.

It wasn't just the indebted who got bailed out.

Yes, I agree, to an extent.

However, you have to remember that governments distorted the risk analysis of savers, by promising deposit guarantees and regulation to stop anything bad. They can't guarantee the former (in real terms - nominally, they can print though) and you can't regulate banks well enough to stop failures. In short, the government made bad promises and now we're all paying for them.

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Endowments were (supposed) to be sold with all associated risks explained.

If savers were told that by depositing their cash, banks could invent new money, lend the new money to people pushing the price of property, leading into economic collapse, you'd have a point.

IFAs are only interested in their commissions - endowment = more commission, as 2 financial products are sold instead of one

I understand IFAs are increasingly pushing commodities investments to joe public these days, terribly high risk at a high point in the cycle

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IMO anyone who borrows and owes money are the assholes of capitalism. The ones right at the bottom who don't own anything. I've borrowed in the past to buy tat but have now cleared the lot, because owing money to scum banks etc isn't any way to live your life.

Save and invest is what people should be doing. Not getting 4x4's and fur coats on tick. IMO!! :0

If you are saving financial capital (ie. bank savings, bonds etc), then there have to be debtors, in order for you to have savings. They are two sides of the balance sheet. They are two sides of the same coin. Those 'assholes of capitalism' fund your savings. It is impossible for everyone to be net savers (of financial capital).

If you are buying and saving real/physical capital (stuff, gold, silver, goods etc), then you can pile it as high as you like. These are not debt instruments. They do not require a debtor to fund it.

Now, consider what would happen if everyone tried to gain financial capital and then ponder about how the debtors would repay their debts. Then have a think about why people are going bankrupt. Then consider why the government is papering over cracks (soft defaults), in order to avoid hard defaults (ie. haircuts).

EDIT: Tweaked

Edited by Traktion

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No they didn't, but neither did the borrowers. Yet you already know this.....

when they declared they earned £5m a year, they KNEW.

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By all means feel free to round up the bankers and feckless MEWing 6x salary 100%+ mortgage holders, just don't forget who gave them the leverage in the first place.

Savers and STR’s didn’t start the fire, they just supplied the wood for the bankers to burn. To blame all this on feckless borrowers, and then claim savers were "only doing the right thing" is quite obsurd to say the very least.

It wasn't just the indebted who got bailed out.

What you been smoking mate, give me some.

2,900+ posts and you still don't get it??? The world is doomed.

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Endowments were (supposed) to be sold with all associated risks explained.

If savers were told that by depositing their cash, banks could invent new money, lend the new money to people pushing the price of property, leading into economic collapse, you'd have a point.

they used "illustrations", usually 3, one low, one medium (7.5% return) then the high one 12% or so.

Then they wer also told they could use a "Lo-cost" endowment which was cheaper..

people would fixate on the high ilustration, and the Lo-cost option....then they wonder why they didnt perform. still bailouts all round.

It seems we cant have an economy without losers taking from the prudent...it is really an invisible anarchy we are experiencing.

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  • 144 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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