Australian Politics Forum - Banks Need To Be Pulled Into Line.

bobbythefap1

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Re: Banks Need To Be Pulled Into Line.
Reply #15 - May 24^th, 2012 at 5:15pm

FriYAY wrote on May 24^th, 2012 at 3:57pm:

bobbythefap1 wrote on May 24^th, 2012 at 10:58am:

Andrei.Hicks wrote on May 23^rd, 2012 at 9:38am:

bobbythefap1 wrote on May 23^rd, 2012 at 9:37am:

Banks have no obligation to get in line, we have given them their power and allowed them to control us.
It is our the peoples obligation to stop them, monitor them and tell them where to go.
A normal society would have already done so.

Such as?
Name me a country that isnt a dictatorship that has pulled their banks into line.

HOW ABOUT YOU DONT ACT LIKE YOU ALWAYS DO AND ACTUALLY RESPOND TO THE BULK OF MY POST NOT JUST ONE TINY PART OF IT.

DRAH has still got its capitals on…… Roll Eyes

Why do you guys come to a forum if you are incapable of having a conversation and answering questions?

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nairbe

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Re: Banks Need To Be Pulled Into Line.
Reply #16 - May 24^th, 2012 at 5:42pm

bobbythefap1 wrote on May 24^th, 2012 at 5:15pm:

FriYAY wrote on May 24^th, 2012 at 3:57pm:

bobbythefap1 wrote on May 24^th, 2012 at 10:58am:

Andrei.Hicks wrote on May 23^rd, 2012 at 9:38am:

bobbythefap1 wrote on May 23^rd, 2012 at 9:37am:

Banks have no obligation to get in line, we have given them their power and allowed them to control us.
It is our the peoples obligation to stop them, monitor them and tell them where to go.
A normal society would have already done so.

Such as?
Name me a country that isnt a dictatorship that has pulled their banks into line.

HOW ABOUT YOU DONT ACT LIKE YOU ALWAYS DO AND ACTUALLY RESPOND TO THE BULK OF MY POST NOT JUST ONE TINY PART OF IT.

DRAH has still got its capitals on…… Roll Eyes

Why do you guys come to a forum if you are incapable of having a conversation and answering questions?

Banks are free to do almost as they please. It is a business, it is meant to make profits for it's share holders. We are only beholden to them because we have created the cashless society. No pay packet, no cash in the pocket and no government bank to make low cost savings accounts viable. Big banks are dam near loosing money on the mum and dad savings account. They cost heaps to run when you want profits. The money comes in pay day and is probably gone a couple of days later. I don't think the banks would actually care less if there was a government bank with cheap savings account, it would save them the cost.

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"Faced with what is right, to leave it undone shows a lack of courage."
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bobbythefap1

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Re: Banks Need To Be Pulled Into Line.
Reply #17 - May 24^th, 2012 at 5:50pm

nairbe wrote on May 24^th, 2012 at 5:42pm:

bobbythefap1 wrote on May 24^th, 2012 at 5:15pm:

FriYAY wrote on May 24^th, 2012 at 3:57pm:

bobbythefap1 wrote on May 24^th, 2012 at 10:58am:

Andrei.Hicks wrote on May 23^rd, 2012 at 9:38am:

bobbythefap1 wrote on May 23^rd, 2012 at 9:37am:

Banks have no obligation to get in line, we have given them their power and allowed them to control us.
It is our the peoples obligation to stop them, monitor them and tell them where to go.
A normal society would have already done so.

Such as?
Name me a country that isnt a dictatorship that has pulled their banks into line.

HOW ABOUT YOU DONT ACT LIKE YOU ALWAYS DO AND ACTUALLY RESPOND TO THE BULK OF MY POST NOT JUST ONE TINY PART OF IT.

DRAH has still got its capitals on…… Roll Eyes

Why do you guys come to a forum if you are incapable of having a conversation and answering questions?

Banks are free to do almost as they please. It is a business, it is meant to make profits for it's share holders. We are only beholden to them because we have created the cashless society. No pay packet, no cash in the pocket and no government bank to make low cost savings accounts viable. Big banks are dam near loosing money on the mum and dad savings account. They cost heaps to run when you want profits. The money comes in pay day and is probably gone a couple of days later. I don't think the banks would actually care less if there was a government bank with cheap savings account, it would save them the cost.

The difference between a regular business and the central banks is that the banks control the system under which their business and all other businesses operate.
While for most large corps. the shareholder thing is true, the large banks serve another purpose altogether as they control the system which makes it possible for people to invest in the first place.
The cashless society is more dangerous then a thousand man army and the system that defines what 'cash' is, is even more dangerous.
Banks and the financial system are a scam and work on many other criminal processes such as money laundering by the financial corporations.
There are already credit unions which are 100x better then banks in every way (even tho they still work off the same corrupt system) and most people wouldnt even know they exist. Its like buying a car made from wood for $10000 when you could buy a high quality car for $5000, and really goes to show the power banks have over society.

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nairbe

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Re: Banks Need To Be Pulled Into Line.
Reply #18 - May 24^th, 2012 at 6:25pm

bobbythefap1 wrote on May 24^th, 2012 at 5:50pm:

The difference between a regular business and the central banks is that the banks control the system under which their business and all other businesses operate.
While for most large corps. the shareholder thing is true, the large banks serve another purpose altogether as they control the system which makes it possible for people to invest in the first place.
The cashless society is more dangerous then a thousand man army and the system that defines what 'cash' is, is even more dangerous.
Banks and the financial system are a scam and work on many other criminal processes such as money laundering by the financial corporations.
There are already credit unions which are 100x better then banks in every way (even tho they still work off the same corrupt system) and most people wouldnt even know they exist. Its like buying a car made from wood for $10000 when you could buy a high quality car for $5000, and really goes to show the power banks have over society.

I wasn't opposing your position rather pointing out that banking is business and will work as a business. Business, government and the corporate set care not for the community. They are convinced that what they do if for the good of the community and that we would all be much worse off without them. Hense their incredulous indignation when challenged. Just look at the way Andrei posts. He really thinks he is carrying the world with his big pay packet and corporate bonus.

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"Faced with what is right, to leave it undone shows a lack of courage."
Confucius

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freediver

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Re: Banks Need To Be Pulled Into Line.
Reply #19 - May 25^th, 2012 at 6:30pm

Bobby. wrote on May 23^rd, 2012 at 9:38pm:

freediver wrote on May 23^rd, 2012 at 9:01pm:

There is no need to force the banks. Just shop around.

What about the new 5th pillar?

http://www.smh.com.au/business/bankers-beware-fifth-pillar-on-its-way-20101201-1...

Quote:

WAYNE SWAN is poised to unveil controversial measures to create a fifth pillar of the banking system using the muscle of the $73 billion credit union and building society industry.

It is a move that would create a new force in banking and put downward pressure on home lending rates.

The Treasurer's plan would address rising pressure on the government to rein in the big four banks following their super-sized interest rate increases last month.

Read more: http://www.smh.com.au/business/bankers-beware-fifth-pillar-on-its-way-20101201-18gp2.html#ixzz1vgxvY1X3

No need. There is already plenty of competition. It is a long time since I used the big 4 and I cannot understand why anyone would. You get much better deals with other banks.

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Bobby.

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Re: Banks Need To Be Pulled Into Line.
Reply #20 - May 25^th, 2012 at 8:26pm

freediver wrote on May 25^th, 2012 at 6:30pm:

Bobby. wrote on May 23^rd, 2012 at 9:38pm:

freediver wrote on May 23^rd, 2012 at 9:01pm:

There is no need to force the banks. Just shop around.

What about the new 5th pillar?

http://www.smh.com.au/business/bankers-beware-fifth-pillar-on-its-way-20101201-1...

Quote:

WAYNE SWAN is poised to unveil controversial measures to create a fifth pillar of the banking system using the muscle of the $73 billion credit union and building society industry.

It is a move that would create a new force in banking and put downward pressure on home lending rates.

The Treasurer's plan would address rising pressure on the government to rein in the big four banks following their super-sized interest rate increases last month.

Read more: http://www.smh.com.au/business/bankers-beware-fifth-pillar-on-its-way-20101201-18gp2.html#ixzz1vgxvY1X3

No need. There is already plenty of competition. It is a long time since I used the big 4 and I cannot understand why anyone would. You get much better deals with other banks.

The idea is that the 5th pillar could be Govt. guaranteed but
the 4 pillars wouldn't be.
That would give some real competition.

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nairbe

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Re: Banks Need To Be Pulled Into Line.
Reply #21 - May 25^th, 2012 at 8:35pm

Bobby. wrote on May 25^th, 2012 at 8:26pm:

freediver wrote on May 25^th, 2012 at 6:30pm:

Bobby. wrote on May 23^rd, 2012 at 9:38pm:

freediver wrote on May 23^rd, 2012 at 9:01pm:

There is no need to force the banks. Just shop around.

What about the new 5th pillar?

http://www.smh.com.au/business/bankers-beware-fifth-pillar-on-its-way-20101201-1...

Quote:

WAYNE SWAN is poised to unveil controversial measures to create a fifth pillar of the banking system using the muscle of the $73 billion credit union and building society industry.

It is a move that would create a new force in banking and put downward pressure on home lending rates.

The Treasurer's plan would address rising pressure on the government to rein in the big four banks following their super-sized interest rate increases last month.

Read more: http://www.smh.com.au/business/bankers-beware-fifth-pillar-on-its-way-20101201-18gp2.html#ixzz1vgxvY1X3

No need. There is already plenty of competition. It is a long time since I used the big 4 and I cannot understand why anyone would. You get much better deals with other banks.

The idea is that the 5th pillar could be Govt. guaranteed but
the 4 pillars wouldn't be.
That would give some real competition.

The problem is that as all before them they will eventually get bigger and hungrier then forget what it was they were built on. Then hey presto you have another greedy pillar of banking.

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"Faced with what is right, to leave it undone shows a lack of courage."
Confucius

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Bobby.

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Re: Banks Need To Be Pulled Into Line.
Reply #22 - May 25^th, 2012 at 8:40pm

Quote:

The problem is that as all before them they will eventually get bigger and hungrier then forget what it was they were built on. Then hey presto you have another greedy pillar of banking.

Stop being so negative.
The 4 pillars run a cartel where they all have the same deals.
We need competition to solve it.

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nairbe

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Re: Banks Need To Be Pulled Into Line.
Reply #23 - May 25^th, 2012 at 9:26pm

Bobby. wrote on May 25^th, 2012 at 8:40pm:

Quote:

The problem is that as all before them they will eventually get bigger and hungrier then forget what it was they were built on. Then hey presto you have another greedy pillar of banking.

Stop being so negative.
The 4 pillars run a cartel where they all have the same deals.
We need competition to solve it.

Agreed so we don't need another bank we need lots of banks to have real competition.

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"Faced with what is right, to leave it undone shows a lack of courage."
Confucius

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Bobby.

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Re: Banks Need To Be Pulled Into Line.
Reply #24 - May 26^th, 2012 at 10:58am

nairbe wrote on May 25^th, 2012 at 9:26pm:

Bobby. wrote on May 25^th, 2012 at 8:40pm:

Quote:

The problem is that as all before them they will eventually get bigger and hungrier then forget what it was they were built on. Then hey presto you have another greedy pillar of banking.

Stop being so negative.
The 4 pillars run a cartel where they all have the same deals.
We need competition to solve it.

Agreed so we don't need another bank we need lots of banks to have real competition.

Maybe we need better banking regulation to stop the
banks making super profits from hard working battlers?

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nairbe

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Re: Banks Need To Be Pulled Into Line.
Reply #25 - May 26^th, 2012 at 2:51pm

Bobby. wrote on May 26^th, 2012 at 10:58am:

nairbe wrote on May 25^th, 2012 at 9:26pm:

Bobby. wrote on May 25^th, 2012 at 8:40pm:

Quote:

The problem is that as all before them they will eventually get bigger and hungrier then forget what it was they were built on. Then hey presto you have another greedy pillar of banking.

Stop being so negative.
The 4 pillars run a cartel where they all have the same deals.
We need competition to solve it.

Agreed so we don't need another bank we need lots of banks to have real competition.

Maybe we need better banking regulation to stop the
banks making super profits from hard working battlers?

Now we get to the basic problem. We used to have regulation, it ensured that the banks made enough capital available to support the mortgage requirements and then fix that rate so it was affordable. This served to slow investment and restrict the banks from growth in business so business had to source it's capital from OS at higher rates. Venture capital was hard to get and development stifled.
Keating deregulated the banks to a great degree but certain safe guards were left in place like the capitalisation required and Government secured savings accounts. The banks have prospered since but the have lost their sense of community in what they are doing. They are simply a business now with no responsibility to the community for anything.

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"Faced with what is right, to leave it undone shows a lack of courage."
Confucius

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