Jump to content
House Price Crash Forum
Sign in to follow this  
gruffydd

Citizens Must Fight Rise Of European Bankocracy

Recommended Posts

When asked what about the Austrian banks who had lent to banks in Ireland, Portugal and Spain that might lose out in a default situation, he was dismissive.

“Screw them. They lent to bad companies. Why didn’t they do their due diligence. Have they never heard the expression buyer beware? If I lent to a bad supplier would you pay for my stupidity?”

Share this post


Link to post
Share on other sites

There is a way to fight them. IN the US they are known as Credit Unions. Bankshate them and tried to shut them down but they have persevered and prospered--sort of mutual societies like a BS.

http://www.tameside.gov.uk/creditunion

What is a Credit Union?

A Credit Union is a profit sharing, democratically run financial co-operative which offers convenient savings and low interest loans to its members. The members own and manage their credit union themselves.

The three main aims of a Credit Union are:

To encourage its members to save regularly.

To provide loans to members at very low rates of interest.

To provide members with help and support on managing their financial affairs (if required).

What are the benefits of a Credit Union?

It is an easy and convenient way to save and borrow.

It offers very low cost loans.

Insurance at no direct cost.

It's a way to learn new skills.

Credit unions can provide a focal point for a community by bringing people together, to work alongside each other for their own benefit and the benefit of the community as a whole.

A credit union can help to revive the local economy by keeping money in the community. Loans to Members can mean income for local shops and businesses.

Who supports Credit Unions?

Churches, Community Groups, National Consumer Councils, Citizens Advice Bureau, Trading Standards, Police, Fire, Taxi Drivers, Tameside Council, etc.

Share this post


Link to post
Share on other sites

You can always take you money out of the banks and put it elsewhere. Enough people do that and it's game over for the banks. Of course, with this strategy you want to be one of the first out of the exit, because laggards will go down with the ship.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 284 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.