Let all banks go bankrupt?

I would like to see all banks go bankrupt, especially the Halifax be there so greedy with their charges, dont you agree

I agree on Halifax but only because their staff are incompetent

Hmmm, go back to a cash society, nope thanks. If your angry about charges, be mad at people that have defrauded your financial institutions and those that have for whatever reason files bankruptcy, be mad at the environment we live that proper money handling isn't taught in schools, you can be mad at a lot of thing but a bank is just a business trying to make a buck and a lot of outside thing (as with any business) affect/effect the business as a whole...

I think you'll be surprised at how the very same people who defend the 'free markets' are now going to argue precisely the opposite.

Your theory isn't bad actually and it would normally be called a 'market correction'.

The issue is that this situation is very like 1929 - the private central banks are owned by banks that are owned by banks. By overproducing money supply and keeping interest rates down they created a speculative bubble which had to burst.

It's a process whereby the rich banking elite at the very end of the chain are going to make quadrillions, and many millions of people are going to get saddled with higher taxes, negative equity, inflation and eroded currency values.

This is why inflation has been described as robbery by many former US Presidents, including the biggest names - they also described the central banks in less than flattering terms!

"Allow me to control the issue and the nation's money and I care not who makes its laws!" The above quote has long been attributed to the 18th century banker Amshell Rothschild

Thomas Jefferson showed that the founding fathers knew this banking principle very well. "I believe that banking institutions are more dangerous to our liberties than standing armies...."

Ben Franklin said in his autobiography that the inability of the colonists to get the power to issue their own money permanently out of the hands of George III and the international bankers was [one of] the PRIME reason[s] for the Revolutionary War.

Thomas Jefferson stated, "If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered."

President James A. Garfield said: "Whoever controls the money in any country is absolute master of industry [legislation] and commerce".

When the 1816 charter expired in 1836, Andrew Jackson vetoed its renewal. It was then that he made two famous statements: "The Bank is trying to kill me - but I will kill it!" Later he said "If the American people only understood the rank injustice of our money and banking system - there would be a revolution before morning..."

MEDIA BLACKS OUT THE FACTS
John Swinton, the former Chief of Staff for the New York Times, was one of New York's best loved newspapermen. Called by his peers "The Dean of his Profession", John was asked in 1953 to give a toast before the New York Press Club, and in so doing, made a monumentally important and revealing statement. He is quoted as follows:

"There is no such thing, at this date of the world's history, in America, as an independent press. You know it and I know it. There is not one of you who dares to write your honest opinions, and if you did, you know beforehand that it would never appear in print. I am paid weekly for keeping my honest opinion out of the paper I am connected with. Others of you are paid similar weekly salaries for similar things, and any of you who would be so foolish as to write honest opinions would be out on the streets looking for another job. If I allowed my honest opinions to appear in one issue of my paper, before twenty-four hours my occupation would be gone. The business of the journalists is to destroy the truth; to lie outright; to pervert; to vilify; to fawn at the feet of mammon, and to sell his country and his race for his daily bread. You know it and I know it, and what folly is this toasting an independent press? We are the tools and vassals of rich men behind the scenes. We are the jumping jacks, they pull the strings and we dance. Our talents, our possibilities, and our lives are all the property of other men. We are intellectual prostitutes."

OK, so lets have a quick think about it ...

You go to the Supermarket ... they say 'sorry no Credit or Debit Cards, all the Banks are bust, so we will have to wait for the Government to sort out the money & we need it now to pay our Staff Wages (and pay for the food to be delivered.) == so it's cash only from now on'

So you go to a cash machine (hole in the wall) .. but it's empty .. and all the Banks are bust so no one is going to load any more in

On your way to work you notice the Petrol Stations are closing (the refineries are insisting on cash before they let the tanker drivers collect any more ... since they can't get any Oil unless they pay cash)

At work you hear that your employer is unable to get cash out of the Banks .. so you will receive a Cheque for your wages this month ..

So you decide to sell something to raise money .. the only person who wants to buy it offers you a Cheque .. (do you take it ??)

How long before your food runs out ?

Faster than you think - the power company won't be able to get cash out of the Bank to pay for the fuel to run the power stations, so very soon the Electricity fails .. all the deep freezers start to warm up .. (next harvest = Aug / Sept 2009 .. I only hope you planted enough to see you OK :-) )

Banks should work like all other companies the open market should control the interest rates. It`s a scam anyway what they do is crash the economy buy up everything then inflate it again making billions its all a soap opera to fool the tube brains

Then what smart ****. Financial ruin for all. Wake up!

I believe the economy is a crutch for our global society and we would all be better off without money. However, making the transition to the "work-for-free-live-for-free" ideal is really complicated... really, really complicated.

A lot of us would experience hardship, unless all posts of employment could be completely automated. Then we would be free to put our energy to completely non-essential creativity.

how would people get their wages or buy houses?

Then what if the company you work for needs to take out a loan to cover wages for a few months-oops sorry-I guess you'll have to wait a month to get paid-then the company gets behind in the bills for the company-and everyone you work with loses their jobs. Then they can't pay their bills and lose everything. (worse case)

I think the greedy banks should pay penalties and be under heavy government oversight. I also believe that if companies get bail outs-their executives that have been crooked-get fired, pay back all their bonuses-have to sale their homes as part of the agreement-so that money can go into our economy or go to prison for a very long time.

Banks charge interest and charges for providing you with money and banking services. They also need to pay interest to their depositors, salaries to their staff, declare dividends to their shareholders, maintain their banking buildings and offices, buy and use expansive technological machines and soft wares to replace most of staff costs in order to offer their customer better,faster and more effective banking services. If all banks go bankrupt, you may have to use your own house as a bank and in not time you will regret and wish that there is a bank to offer you all the financial services you need.

No I don't agree. What's the workable alternative?

HA U ABSOLUTE MUPPET!! what a stupid question!

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