The role of international finance….
“Foreign Merchant Class”
That sounds familiar.
Banking ought to be a way for productive businesses to more easily facilitate financial transactions. Simple financing of projects, a place to transact monetary exchanges, somewhere to keep your excess capital when not in use. The meat and potatoes of a local bank: checking and savings deposit accounts, business and personal loans. That sort of banking serves a useful utilitarian purpose in a civil society.
When the financial system is hijacked and serves as a means unto itself, rather than a medium for other economic activity, it becomes utterly corrupted.
Modern finance is a stateless, global enterprise with loyalty only to endlessly increasing profits. A great deal of financial economic activity is comprised of completely make-believe transactions that generate enormous paper profit while not actually creating anything or adding value. The financial chicanery is basically a money printer, one that almost no one has access to. I can easily explain what I did at the local banks I managed but what was going on in the glass towers in Manhattan? I don’t understand it and few people do because what they do is so divorced from what we understand as productive work that it takes on the character of voodoo, only with derivatives instead of relics and fetishes.
It has been a common thread for centuries and will continue to be so for the foreseeable future: a parasitic financial class that siphons profit from the productive and multiples it using tools and rules that they themselves have written and handed to the very people tasked with regulating them.
never trust a banker. the bigger they are, the least trust worthy they are. who else profits
from YOUR money like they do ? those assholes will bankrupt with fees that always add up.
you know why you don't hear about loan sharks anymore ? they are bankers who run credit card companies. and they always out of your state to avoid state banking laws. you will never get a card from any bank inside your state. easy credit is killing this country. and home depot says you can have 7 (??) of their cards ? guess where they make the MOST MONEY.
I'll be honest, we did some stuff I felt was unethical when I was managing banks, that is a big reason why I quit and went back to something different.
you know when you go to a car dealer and you start talking numbers and the finance guy comes in and starts putting numbers here and there and after a while you get totally lost and don't really understand what's happening. But the one thing you do know is that you are getting *ucked?
yeah, it's like that.
Yeah when I start to read through the financial info and ask questions about various line items, they get twitchy at the car dealership.
My comment the other day never showed up.
I commented that i believed that fractional banking is one of the most dangerous things to our freedom.
Exile1981
Huh, I checked the spam and it wasn't there either. The blogger comment tool is awful, sorry. But you are absolutely correct.
*sigh*
There's a way out. It won't be pleasant. People have become used to "normal" – just like in Plato's cave.