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How Did We Get Here? It's All Thanks To The Banksters.


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How Did We Get Here? It's All Thanks To The <CENTRAL> Banksters

The Fed was created in 1913, a private company that set interest rates too low : result -> roaring 20s, credit boom -> Great Depression

The Fed / ECB / MPC set interest rates too low : result -> roaring naughties -> massive credit boom -> Great Contraction

Go figure. The government appoints the central bankers to set interest rates, and they are meant to make sure the economy doesn't 'overheat'. Guess what. They ****'d up.

PS what would the world be like without a government to set interest rates for you? What would you demand on your savings, given a free market in banking? Would you like 2% or 8%? How much reward for the risk to lend your money out?

Why have you given this power to set your interest rate to someone else? Who are they to determine the rate?

Edited by no accountant
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How Did We Get Here? It's All Thanks To The <CENTRAL> Banksters

The Fed was created in 1913, a private company that set interest rates too low : result -> roaring 20s, credit boom -> Great Depression

The Fed / ECB / MPC set interest rates too low : result -> roaring naughties -> massive credit boom -> Great Contraction

Go figure. The government appoints the central bankers to set interest rates, and they are meant to make sure the economy doesn't 'overheat'. Guess what. They ****'d up.

PS what would the world be like without a government to set interest rates for you? What would you demand on your savings, given a free market in banking? Would you like 2% or 8%? How much reward for the risk to lend your money out?

Why have you given this power to set your interest rate to someone else? Who are they to determine the rate?

Not forgetting that many, if not all of the Central Bankers are from or have affilliations with the big investment banks.... :rolleyes:

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“The Bankers were in charge of the lending process- they are responsible for the utterly incompetent way that process has been managed.”

Incorrect - bankers were given the task of maximising profits within a legal and regulatory framework set up by government and regulators. Naturally they competed by finding ways to take greater and greater risk. If you are given responsibility to building a mortgage book in a competitive market how can you win market share apart from lowering lending standards or competitive pricing? Consumers and governments were willing participants and enjoyed the boom - FACT.

The idea that bankers are evil and laugh at the situation is juvenile. In reality many bankers have lost their jobs and many banks have gone bust - why would employees of those banks be pleased about it?

I am not an apologist for bankers many of whom were and are massively overpaid but we need to grow up and look in the mirror a bit more often – so easy to blame everyone else

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“The Bankers were in charge of the lending process- they are responsible for the utterly incompetent way that process has been managed.”

Incorrect - bankers were given the task of maximising profits within a legal and regulatory framework set up by government and regulators. Naturally they competed by finding ways to take greater and greater risk. If you are given responsibility to building a mortgage book in a competitive market how can you win market share apart from lowering lending standards or competitive pricing? Consumers and governments were willing participants and enjoyed the boom - FACT.

The idea that bankers are evil and laugh at the situation is juvenile. In reality many bankers have lost their jobs and many banks have gone bust - why would employees of those banks be pleased about it?

I am not an apologist for bankers many of whom were and are massively overpaid but we need to grow up and look in the mirror a bit more often – so easy to blame everyone else

No one has to work as a banker.

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Lets just get this straight

States existed before even money was invented and so did taxation

So states were taking a proportion of peoples wealth thousands of years before banks or bankers existed

But don't let the facts get in the way of your 'blame the bankers' w*nk fest

:blink:

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“The Bankers were in charge of the lending process- they are responsible for the utterly incompetent way that process has been managed.”

Incorrect - bankers were given the task of maximising profits within a legal and regulatory framework set up by government and regulators. Naturally they competed by finding ways to take greater and greater risk. If you are given responsibility to building a mortgage book in a competitive market how can you win market share apart from lowering lending standards or competitive pricing? Consumers and governments were willing participants and enjoyed the boom - FACT.

Ok- you eat a meal in a restaurant that ends up nearly killing you. The reason given is that the Chef was under pressure to produce more profit so he lowered cooking standards- is this ok with you?

Or do you think that part of being a professional Chef is to make sure that cooking standards are not lowered?

Or what about a dentist who lowers safety standards regarding anesthetic procedures to maximise his profit- causing brain damage in a patient?

Or the car mechaninc who lowers inspection standards and causes you to crash your car due to faulty brake servicing?

What are you talking about????

We gave the bankers one of the most important roles in our society- that of credit allocation- and they f*cked it up. They are responsible and they did for reasons of personal greed.

You have bought into the bankers corrupt world view that they are entitled to do whatever it takes to enrich themselves and their clients- this is self serving bullshite.

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Lets just get this straight

States existed before even money was invented and so did taxation

So states were taking a proportion of peoples wealth thousands of years before banks or bankers existed

But don't let the facts get in the way of your 'blame the bankers' w*nk fest

So remind me- who is it that we are about to bail out again? Oh yes- the Bankers. And we need to bail them out because?.....

Ah yes- They lent too much money to people who could not pay it back. :lol:

And who is it that has paid themsleves billions over the last decade based on their lending expertise?

Yep- you guessed it- the Bankers. :lol:

So either they are morons or crooks- but in either case they are to blame for this mess.

Ok- you can claim that they knew they were too big to fail and this made them careless- but the fact that you believe the state will bail you out is not an excuse for placing yourself in this position- is it?

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We gave the bankers one of the most important roles in our society- that of credit allocation- and they f*cked it up. They are responsible and they did for reasons of personal greed.

You have bought into the bankers corrupt world view that they are entitled to do whatever it takes to enrich themselves and their clients- this is self serving bullshite.

Agree 100% wp. Absolutely spot on.

The stench of greed, fraud, dishonesty, self-righteousness & lack of remorse is totally overwhelming.... :angry: :angry: :angry:

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Agree 100% wp. Absolutely spot on.

The stench of greed, fraud, dishonesty, self-righteousness & lack of remorse is totally overwhelming.... :angry: :angry: :angry:

So corrupt surveyors and solicitors colluded with individuals who lied about their incomes in order to get mortgages for more than properties were worth and you blame - the banks.

Surely the people who are to blame are the people who lied and broke the law?

:blink:

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So corrupt surveyors and solicitors colluded with individuals who lied about their incomes in order to get mortgages for more than properties were worth and you blame - the banks.

Surely the people who are to blame are the people who lied and broke the law?

:blink:

Law is irrelevent in this.

All banking is fraud.

And legal.

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So remind me- who is it that we are about to bail out again? Oh yes- the Bankers. And we need to bail them out because?.....

Ah yes- They lent too much money to people who could not pay it back. :lol:

And who is it that has paid themsleves billions over the last decade based on their lending expertise?

Yep- you guessed it- the Bankers. :lol:

So either they are morons or crooks- but in either case they are to blame for this mess.

Ok- you can claim that they knew they were too big to fail and this made them careless- but the fact that you believe the state will bail you out is not an excuse for placing yourself in this position- is it?

Bankers lent money in good faith to people who, it turns out, never had any intention of paying the money back

Surely the people responsible for this are the people who are now choosing to default on their loans

I cannot for the life of me see how the banks are to blame for this.

But don't let logic stand in the way of your ideologically driven ranting.

:blink:

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Bankers lent money in good faith to people who, it turns out, never had any intention of paying the money back

Surely the people responsible for this are the people who are now choosing to default on their loans

I cannot for the life of me see how the banks are to blame for this.

But don't let logic stand in the way of your ideologically driven ranting.

:blink:

Banks don't lend money.

They lie and are believed.

For a time.

If they had loaned money, the whole crisis could be ended by simply seizing the money back. They can't do that because it isn't there.

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Bankers lent money in good faith to people who, it turns out, never had any intention of paying the money back

Surely the people responsible for this are the people who are now choosing to default on their loans

I cannot for the life of me see how the banks are to blame for this.

But don't let logic stand in the way of your ideologically driven ranting.

:blink:

one or two loanzs going bad, thats a given..thats why they take security and charge interest.

6% defaults and marking to model second charges they made....please explain this.

And then they stopped lending to each other ( Bankz) ..why?

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Law is irrelevent in this.

All banking is fraud.

And legal.

If it's legal then by definition it isn't fraud

And you are still ignoring the fact that states existed thousands of years before even money was invented, let alone banking

so if money and banking were abolished tomorrow there would still be a state

:)

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one or two loanzs going bad, thats a given..thats why they take security and charge interest.

6% defaults and marking to model second charges they made....please explain this.

And then they stopped lending to each other ( Bankz) ..why?

Who crashed the World economy and why?

:blink:

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The main problem was that whilst credit lubricates an economy, credit was being extended wantonly and ignoring risk. Everyone was patting themselves on the back. 'Everyone is doing it, so it must be OK?'

The politicians set the rules, the bankers played the game, moral hazard was removed, hey presto, we are were we are, financial collapse overseen by spineless wonders who will do anything but purge the system of the fraud, corruption and toxicity.

There was of course a time when things could have been 'corrected' relatively painlessly. Now, who knows what will happen? 2 + 2 always equalled 4.

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I know several people who work in major banks (retail not investment, regular office work) and I would say they all have unhealthy attitudes to money and greed. They all moan about their bonuses no matter what level they work at. It's the culture that they breed.

One (who works for Lloyds) bemoaned only getting a 10% bonus this year. The share price has fallen nearly 95% over the last four years FFS!

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They lent too much money to people who could not pay it back. :lol:

Exactly right. The boring retail banks, with regional lending officers and bank managers - they lent far too much money. Likewise the borrowers borrowed too much. The world was punch drunk on cheap money. Cheap money proved by central bankers.

(the focus of hatred seems to be on traders and dealers in the City, who were nowhere near these poor lending decisions, they just buy and sell bonds and shares. They don't risk a bank's cash by lending it out, this is what local bank managers are meant to do)

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So corrupt surveyors and solicitors colluded with individuals who lied about their incomes in order to get mortgages for more than properties were worth and you blame - the banks.

Surely the people who are to blame are the people who lied and broke the law?

:blink:

Er......... READ all the links below in my signature Game_Over ......

They ENCOURAGED people to lie --- and thus kept the snowball rolling down the hill as Mortgages got bigger and house prices rose exponentially -- giving themselves a double bonanza of rising property prices for their property "portfolios" AND rising mortgage profits from ever growing mortgages......

WATCH THE VIDEO Game_Over - http://video.google.co.uk/videoplay?docid=-8482518243122067675&hl=en-GB# -

as 9/10 Mortgage Brokers told their customers to LIE..... i.e. BROKE THEIR FIDUCIARY DUTY & therefore POSITIVELY TURBO-CHARGED FRAUD....... - thus turning the property market into a high-octane Pyramid Scam - with "prices" being artificially pumped up 300-400%....

And all this was BACKED by compliant Banksters who set the whole thing in motion with their "Mortgage Backed Securities", "Special Instruments" - and all the rest of it.........

Edited by eric pebble
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Nope, there are factual descriptions of behaviour as well as legal ones.

Banking is factually fraud and legally allowed.

Nope - you have your own moral framework which you consider to be universal and self-evident

It is neither.

You then define any behavior which you consider infringes your own moral framework to be fraud or abuse

which it is not.

It is just behavior which you personally do not find morally acceptable.

:)

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Er......... READ all the links below in my signature Game_Over ......

They ENCOURAGED people to lie --- and thus kept the snowball rolling down the hill as Mortgages got bigger and house prices rose exponentially -- giving themselves a double bonanza of rising property prices for their property "portfolios" AND rising mortgage profits from ever growing mortgages......

WATCH THE VIDEO Game_Over - http://video.google.co.uk/videoplay?docid=-8482518243122067675&hl=en-GB# -

as 9/10 Mortgage Brokers told their customers to LIE..... i.e. BROKE THEIR FIDUCIARY DUTY & therefore POSITIVELY TURBO-CHARGED FRAUD....... - thus turning the property market into a high-octane Pyramid Scam - with "prices" being artificially pumped up 300-400%....

And all this was BACKED by compliant Banksters who set the whole thing in motion with their "Mortgage Backed Securities", "Special Instruments" - and all the rest of it.........

I will watch them if you watch my videos proving that the Moon landings were faked.

:)

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  • 441 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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