The Banks Are Dead.!

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RetroRik
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Re: The Banks Are Dead.!

Post by RetroRik » Thu Jun 28, 2012 6:45 am

resident paul wrote:Barclays have been fined for fiddling the books.

Link: http://www.bbc.co.uk/news/business-18612279

The boss admitted about the dishonesty.

Link: http://www.bbc.co.uk/news/business-18622264
Thanks for posting that one Paul. Apparently it wouldn't be news if the Americans hadn't made big efforts in dragging the whole thing out of the mud.! Just goes to show how our government does its best to protect the banks even when they break the law.

One commentator on Sky just said "this isn't banking, its gambling with peoples money"

Also its not just Barclays, other banks are involved and should be expossed.

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Re: The Banks Are Dead.!

Post by RetroRik » Thu Jun 28, 2012 7:12 am

You know what. I've had enough of banks, interest, credit. Im not playing their game anymore.

I've just been lucky enough to pay my Mortgage off and the only debt i now have is two credit cards. ( 8 grand :shock: )

What im now going to do ( which everyone should do ) is shop around. Get another card or two with 18 months 0% interest rates on Balance Transfers then im transferring the lot onto them and cutting the old ones up. ( cancelling them )

Im going to pay as much as i can afford into the new cards for 18 months ( interest free ) and hope i can get the balance down so much that the banks will no longer get anymore Interest out of me.!

If i haven't cleared the balance after 18 months i will do it again.

I will keep one card with a low credit limit for emergencies. Thats it.

Basically if you can find a loophole in this crappy system. Use it. The rich do.!

Good luck everyone with their new Mortgages. Don't assume the best deal will be with your current bank. Shop around. A bit of hassle doing this now might save you thousands in the long run. :)

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The Angry Jock
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Re: The Banks Are Dead.!

Post by The Angry Jock » Thu Jun 28, 2012 7:21 am

RetroRik wrote:Basically if you can find a loophole in this crappy system. Use it. The rich do.!
Why does everything have to come down to "The Rich"?

Who are the Rich?

Who are the poor?
RetroRik wrote:Good luck everyone with their new Mortgages. Don't assume the best deal will be with your current bank. Shop around. A bit of hassle doing this now might save you thousands in the long run. :)
Shhhh, don't tell everyone the secrets of The Rich!

If you hate banks so much and won't use them again why not just default on your credit cards? Stick it to them!
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Re: The Banks Are Dead.!

Post by RetroRik » Thu Jun 28, 2012 7:39 am

The Angry Jock wrote:
Why does everything have to come down to "The Rich"?

Who are the Rich?

Who are the poor?
Because not a day goes by that the mainstream and alternative news doesn't push that in our faces.
People up North say there is a real North, South devide.
There are thousands of quotes on sites about the richer getting richer and the poorer getting poorer.
Do you have some secret information that shows otherwise.? :wink:
The Angry Jock wrote:Shhhh, don't tell everyone the secrets of The Rich!
Sometimes stating the obvious helps. Sometimes people just need a push in the right direction. :)
The Angry Jock wrote: If you hate banks so much and won't use them again why not just default on your credit cards? Stick it to them!
I said i have little choice to use them for banking so i will be looking around for one i am comfortable with. :)
I will continue to pay my current debt because i chose to used it, i spent it, i will pay for it.
I just won't be using their credit again.

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Re: The Banks Are Dead.!

Post by The Angry Jock » Thu Jun 28, 2012 8:04 am

Who are the rich?

Who are the poor?
Retropassion reborn
sscott wrote:I fuck1n love the fuck1n Internet and all its fuckin fu(kball opinions. I fuck1n like this fuk(her, I don't fuccckin like this fuckeeer. It's not out yet, that isn't gonna gonna stop me! No sir! and so onnnnnnnnnn........

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Re: The Banks Are Dead.!

Post by ulala » Thu Jun 28, 2012 8:12 am

There is really only 1 person to blame for the current crisis, and that unfortunately is ourselves. We as a society may blame the banks and their systems, or indeed the "rich" but it has actually come down to the greedy consumer driven society the west has developed.

Lets take credit cards. A short-term loan with a huge interest rate. No one with a hint of common sense would ever use them to make purchases and not have a zero balance at the end of the month. Unfortunately they have been used to but Tvs, ipods, holidays and generally allow idiots to live above their means. There is simply no concept of saving up for the masses in the UK anymore. People have been allowed to rack up tens of thousands of pounds of debt.

The banks must take part of the blame, as they clearly have lost the art of vetting customers, to see if there is a possibility of them paying it back. But if they have no job/ on benefits that's simply impossible and the debt has to be written off. Ridiculous, and without consequence for the debtor.

The same is true of mortgages. Houses are simply not worth a fraction of what they cost. Not a problem in itself, but when a person tries to buy a house they stretch themselves far beyond their means again. 120% mortgages were no problem, with the extra going to fund holidays and cars. Properly, a couple should not spend more than 3 or 4x one of their salaries on a house. If a guy earns £30k then he should only be allowed to buy a 90k house.

When I bought a house last year the bank offered me a mortgage of up to £500,000. How on earth am I supposed to even try and pay that back! It used to be good for the banks, you would default and they would get the house back. Now, due to the liberal human rights driven society, it would seem to be bad news if "families" were evicted and lost their "homes" - so the banks lose.

Cannot afford a mortgage repayment but want to live well beyond your means in a huge house? Why not try an "interest only" one. Ridiculous. This is a clear gamble that you depend on the property market going up. When it collapses (and it can only go down), you are screwed. Buy don't worry, you can go bankrupt and start again. Next time get your wife to have a loan.

The UK is supposed to be in a massive recession, and yet when I walk through the high street on a weekday it is FULL of consumers spending money. Where do they get that money from? Are they all working nights? For every charity shop there is a mobile phone shop selling iphones.

Its just so easy to blame everyone but ourselves. Its the banks fault, its the labour government (which it is), its people not wanting to work, its people working not paying tax, its big business not paying tax, its the benefits system that pays idiots not to work, its the open door asylum policy that pays benefits to non-eu migrants who have never contributed to the system, its the families who have more children than they can possibly pay for, it is the striking workers holding the company to ransom whilst destroying customer service.

It's anyone's fault but the greedy man on the street.

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Re: The Banks Are Dead.!

Post by psj3809 » Thu Jun 28, 2012 8:47 am

ulala wrote:There is really only 1 person to blame for the current crisis, and that unfortunately is ourselves. We as a society may blame the banks and their systems, or indeed the "rich" but it has actually come down to the greedy consumer driven society the west has developed.

Lets take credit cards. A short-term loan with a huge interest rate. No one with a hint of common sense would ever use them to make purchases and not have a zero balance at the end of the month. Unfortunately they have been used to but Tvs, ipods, holidays and generally allow idiots to live above their means. There is simply no concept of saving up for the masses in the UK anymore. People have been allowed to rack up tens of thousands of pounds of debt.
Agree with that, forget all the anti-banks crap. People frankly are stupid, dont get me wrong my wife was utterly stupid in the past (20k on cards, now thankfully gone, the debt not the wife!) but the banks arent forcing you to put 20-30k on a credit card over the years and then pay minimum. Yeah they make their money by stupid people paying off a tiny amount every month but its the peoples fault, cant keep blaming the banks.

Its like people dont want to save anymore, its 'want want want', must have the latest this and that.

As you say its common sense, i do agree that there should be a limit so if some idiot rolls up say 15k of debt they should block them from using the card (and getting any others). But at the end of the day its people being stupid. Do agree about switching cards every 18 months or so to a 0%, i thought everyone did this though if they had some debt on a card ?

As for all this rubbish about the banks and how evil they are, everyday of your life you could moan about the 'evil' government or corporates trying to get you down, I prefer to just get on with life and enjoy it.

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Re: The Banks Are Dead.!

Post by WildWillyWilson » Thu Jun 28, 2012 9:03 am

I'm aiming to be debt free (mortgage aside) next year and cannot wait. Like others here I've had enough of living a "life of debt" and started my goal this January- paid off £7k so far and hoping to be free within 9 months all going well. Been really motivated by the Dave Ramsey Show over in the states (following the "baby steps"), got the iPhone app and listen to it regularly- basically a radio talk show with people calling having paid off huge sums of debt and showing you that it can be done.

Paid off my £2k overdraft earlier this year and the feeling of seeing my account permanently in a positive balance is great.

A saying I like:

"Too many people spend money they haven't earned, to buy things they don't want, to impress people they don't like" Too true...

My mantra now: Live on less than you make- act your wage!

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Re: The Banks Are Dead.!

Post by greenberet79 » Thu Jun 28, 2012 9:23 am

Very true. People need to take responsibility. However, I'll also throw into the mix...

We've been invaded by multi-million pound advertising that tells us over and over and over and over again that we should be buying certain products if we want to improve our lives. Advertising is everywhere - from the newspapers you read, to the television you watch, the websites you visit, the buses you sit on, and the streets you walk down. Shops and supermarkets have very clever people who arrange their layout to "help" you shop (i.e. make you spend more), pipe in music to make you feel "up". Product placement has seeped into British television. Magazines are full of adverts masking as unbiased articles. Celebrities are endorsing products - most of which you don't need. It's everywhere, all the time - advertising is like the Terminator - it never stops. It's persuasive and pervasive. We get a non-stop battering, consciously and unconsciously. So we spend, go into debt, and then we've lost control of our own lives.

Advertising drives capitalism, and capitalism drives advertising. Emotional manipulation is the name of the game.
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Re: The Banks Are Dead.!

Post by greenberet79 » Thu Jun 28, 2012 9:24 am

WildWillyWilson wrote:act your wage!
Ha, I like it!
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Re: The Banks Are Dead.!

Post by pratty » Thu Jun 28, 2012 10:15 am

ulala wrote:There is really only 1 person to blame for the current crisis, and that unfortunately is ourselves....The banks must take part of the blame...
I know what you're saying, but as even you admit banks are also largely to blame aswell as the greedy man in the street. In my opinion it's quite right to dis-like the banks for their role in things.

Aplogies for this grim anaogy, but if a stranger lures a woman into his car to save her walking home in the rain, and subsequently rapes her, do we not blame the rapist? No matter how lazy and foolish the woman was, the rapist is still a scumbag and shouldn't allowed to keep doing what he is doing.

The banks are tempting people into debt they often can't afford and often don't even want. It's all very well saying we should be clever enough to turn them down and live within our means. But where do people think the interest on their savings come from? Their investments and pensions are tied up in the banks, they only do well if the banks do well, and the banks do well by lending at interest, and the more loans and the higher interest the better. Not only that but borrowing must continue in order to pay existing debts.

It's as though people are saying they're happy to not be in debt personally, but they're content with the practice continuing around them. Is it ok for dog owners to let their dogs crap all over the place so long we personally don't step in it? Even if we all personally stopped borrowing the government will still borrow on our behalf and burden us with debt collectively.

I'm all for personal responisibilty, and that includes taking responisiblty for our government and demanding significant monetary and banking reform from them.
Last edited by pratty on Thu Jun 28, 2012 10:31 am, edited 2 times in total.
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Re: The Banks Are Dead.!

Post by psj3809 » Thu Jun 28, 2012 10:20 am

Nice post, get what you're saying but when theres so much 'the banks are evil' nonsense posted here people seem to forget that people should be held accountable.

Could say the same about companies who produce alcohol, we know the dangers, 'most' of us have a few drinks here and there, nothing crazy, if some guy then drinks himself to oblivion day after day and gets into debt i wouldnt blame the alcohol company or the supermarkets selling beer for 5p a tin kinda thing. Think people have to be held accountable quite often and not go looking for someone to blame all the time.

(And i agree its not good when dog owners dont pick up !)

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Re: The Banks Are Dead.!

Post by pratty » Thu Jun 28, 2012 10:27 am

greenberet79 wrote:Very true. People need to take responsibility. However, I'll also throw into the mix...

We've been invaded by multi-million pound advertising that tells us over and over and over and over again that we should be buying certain products if we want to improve our lives. Advertising is everywhere - from the newspapers you read, to the television you watch, the websites you visit, the buses you sit on, and the streets you walk down. Shops and supermarkets have very clever people who arrange their layout to "help" you shop (i.e. make you spend more), pipe in music to make you feel "up". Product placement has seeped into British television. Magazines are full of adverts masking as unbiased articles. Celebrities are endorsing products - most of which you don't need. It's everywhere, all the time - advertising is like the Terminator - it never stops. It's persuasive and pervasive. We get a non-stop battering, consciously and unconsciously. So we spend, go into debt, and then we've lost control of our own lives.

Advertising drives capitalism, and capitalism drives advertising. Emotional manipulation is the name of the game.
Yep.

As well as the people, the banks, the media and business in general must also take their responsibilty for the world they are creating.

It's all very well the banks and media etc saying it's the people that are ultimately to blame for the world being the way it is, but the world the people have made is exactly the world the banks and media wanted, and they actively encouraged it.
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Re: The Banks Are Dead.!

Post by nokgod » Thu Jun 28, 2012 10:39 am

greenberet79 wrote:
WildWillyWilson wrote:act your wage!
Ha, I like it!
Its something i've always done tbh. I've never owned a credit card (i'm 42) and i've managed to pay off over 75% of my mortgage...(not due to having loads of money :) ) but i managed to sell my first house for a good profit and bought my current house for a good price.

I only buy what i can afford and i sell stuff rather than take out credit.

The banks must hate me :wink:
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Re: The Banks Are Dead.!

Post by joefish » Thu Jun 28, 2012 10:51 am

RetroRik wrote:Basically if you can find a loophole in this crappy system. Use it. The rich do.!
The Angry Jock wrote:Why does everything have to come down to "The Rich"?
Who are the Rich?
Who are the poor?
Rich? Someone like Jimmy Carr who's pulling in maybe a million quid in a good year, owes enough tax on it that if a crafty accountant can cut his tax bill down by half or better, he can afford to pay a chunk of what he's saved to the accountant to do it, and still be quids in.

Or someone who can afford to spend six months of the year in another country and a few weeks at sea to avoid being classed as resident anywhere can then save all that tax money too.

These sorts of things aren't available to people on ordinary salaries. The best you could hope for is to declare yourself as a a business and your employment as a contract to save a few quid on the car - but then you have to do all the returns yourself and the Inland Revenue will forever be sending their trainees to audit you for a laugh. Even then if you're taking in less than 150K it's probably not worth your actual time.

Of course if you've really got some cash, buy a yacht, park it somewhere nice but handy (Corfu, Maldives) and invite some call-girls (and boys) and sychophantic MPs (Mandelson, Osbourne) along, then get the law changed so your business pays less tax too and you personally pocket all the savings. And then avoid paying the tax on that, by being off on your yacht at the time.

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