SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The coming US dollar crisis

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Giordano Bruno who wrote (32976)12/5/2010 11:22:32 AM
From: John4 Recommendations  Read Replies (2) of 71475
 
Reliving them of their life blood would unquestionably gain their attention.

T Rex, I strongly agree and support your position, but when we have their attention, what shall we say?

That's not a cynical question, it's a serious one.

My point is that the banks harm many people in many different ways. Does anyone know what the top five grievances against the banks are? I have a good idea what I would say, and I sure you do as well, but would 50,000 people or 1 million people or 10 million people agree in principle and have the same general grievances?

So, here we are. People are angry and making demands. What are they demanding? That's a serious question.

Yes, I love the idea of everyone taking their money out the banks in a unified effort and not relenting in a day a week or even a month! Such a tactic is really the only voice we have, but what is the overall strategy beyond the tactic?

My personal grievances against the banks are:

1. Banks lobby the politicians to spend my tax dollars to remove toxic debt from their balance sheets; debt that I had nothing to do with.

2. Banks issue loans to people who are high credit risks and then redistribute the corresponding penalties and losses to me, directly and indirectly. If a bank makes a loan and a default occurs, only the bank and the loan recipient should be bear the burden of responsibility. The buck should literally stop right there!

3. Banks drive and financially enable an egalitarian political agenda which represents a substantial threat to the cultural heritage, beliefs, and way of life for me, my family, my friends, and millions of like-minded people across western civilization.

4. Banks engage in risky credit default swaps and other forms of exotic derivatives, and then lobby the government to cover their losses using my tax dollars.

5. Banks are part of a massive oligopoly and large political lobby. As a group, they hold responsible people to a much higher standard than irresponsible people. Many irresponsible people enjoy better credit terms as me, and I have a FICO score north of 830.

Frankly, I do not think that any of these things can or ever will be fixed, so perhaps the best solution is to keep my money at home in a sock inside a shoe box under the bed, otherwise, I am financially enabling all of the things that I despise. -ng-
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext