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Ban All The Banks: The Wild Idea That People Are Starting To Take Seriously

BUSINESS INSIDER: Economists have begun seriously discussing the idea of banning banks. That seems ridiculous and far-fetched, but the idea might not be as crazy as it sounds.

But before we get to the idea, there's something important that needs to be addressed, which is that people tend to have a gross misconception about what a bank does.

The typical person probably thinks about a bank the way it's depicted in the movie "It's A Wonderful Life."

In the scene below, George Bailey's savings and loan is being caught up in a run on the banks. Bailey is forced to explain to the depositors their money isn't in the vaults because it's been loaned out. He then points to some people in the crowd who have taken out mortgages from the bank, explaining how that's where people's deposits have gone.


http://youtu.be/EOzMdEwYmDU

But actually that's not how banks work.

How Do Banks Work?

The reality is that banks don't make loans out of existing deposits. When a bank gives you a mortgage (or any other loan) it doesn't go into its vaults to see if there's cash available that someone else has deposited. Instead, the bank digitally (almost like magic) credits your account with the amount you need to pay for the home.

Read more: http://www.businessinsider.com/banning-banks-2014-4#ixzz30Em...

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Not magic but fraud exposed in 1968 and suppressed by MSM

The banking fraud goes back centuries. Evidence of how the fraud confuses money and credit, and the 1968 court case suppressed by the MSM is here: http://www.thenolanchart.com/article5928-when-ron-paul-calle...

Governments don't need to ban banks. Members of the public, including readers of this comment, need to grasp the truth and spread it. Then, like Jerome Daly, refuse to pay banks holding a mortgage over their property. Try to take a local reporter along with you and ask him if his editor will publish what the MSM still suppresses. Then invite the reporter to do the same to the bank holding his/her mortgage.

End the fraud - report the Fed and its complicit media to an FBI office near you. For more details go here: http://www.nolanchart.com/article/print.php?ArticleID=5928

Imagine Less Than 50 Banks Left In The World By 2030

Another question someone asked me recently is: “do you think incumbent banks can step up to the digital challenge and take on the likes of Amazon, Apple, Google and Facebook?”

I said: “no”.

Sorry guys, but the answer is negative.

There are various reasons for this.

First, as was popularly retweeted by many last week, Amazon, Apple, Google and Facebook do not have a Head of Digital, they just are digital.

There is no head of digital at Amazon or Zappos – they ARE digital. Banks need to be, too. #RB14
— gschmeltzer (@gschmeltzer) March 13, 2014

They were invented for the internet age as entities leveraging customer data to create digital commerce.

Second, can you think of one digital business that evolved from a physical one? Not any bookstores, record shops, photographic stores, video rental firms or similar evolved into an internet age powerhouse. Instead, they have been decimated by the new digital firms.

Third, the digital firms were all invented to solve a problem. Hey, I wanna find stuff,and here’s Google. Hey, I wanna share stuff, and here’s Facebook and Twitter. Hey, I wanna download stuff, and here’s Apple. Hey, I wanna buy stuff, and here’s PayPal for sending money and Square for taking money.

Fourth, no company can behave like a start-up and no start-up can behave like a company. Companies are there to preserve the company; start-ups are there to destroy the company. The two don’t think or act the same way until the upstart becomes The Company.

Fifth, part of the reason why companies cannot behave like start-ups is that they are often led by someone who took decades to get to the top of the company. When you’ve spent all your working life clawing your way to the top, the last thing you want to do is destroy the very fabric of what got you there.

I could go on, but there’s an interesting nuance to this dialogue, and this is the other question I get asked a lot: can an upstart seriously take on the banking industry and win?

And the answer to that is also no.

As demonstrated by Simple, Moven, Fidor and more, they are fledglings and what happens to fledglings is that they fall out of the nest, can’t fly and die; or they fall out of the nest, fly and get eaten by a predator.

Continue reading here:

http://blogs.sap.com/innovation/industries/imagine-less-than...

"None are more hopelessly enslaved than those who falsely believe they are free." Johann Wolfgang von Goethe

Lamb of God - As the Palaces Burn
http://youtu.be/eWVrdFrpXHE

Whenever I can, I use credit

Whenever I can, I use credit unions. If I must use a bank, Like in Germany, I deposit and draw my own money, never borrowing from them, and absorb whatever fees are unavoidable. If I need more money than I have to buy a, for example a car, I use a credit union loan, or just save up until I can pay in cash. That way I do not contribute to the rape that every day, charged interest on imaginary money perpetuates.

The key sentence...

The new talk is that banks should be banned from creating money, and that the government would take it over.

Read more: http://www.businessinsider.com/banning-banks-2014-4#ixzz30Hn...

Are the politicians tired of sharing their ill-gotten gains

with the bankers?

I like your sentiment

But "Ban" implies force granted to government thugs... how about just not using Banks? How about not using the dollar, and just using something like Bitcoin and Litecoin... the bank is your thumbdrive, and even if you lose it, you don't lose your money if you have a copy of it somewhere else, and you password protected it... what could be better than having the bank in your pocket and your mind?

reedr3v's picture

Start with the Supreme Banks,

the government central banks, the Fed first.

the fact that you can be

the fact that you can be imprisoned for promoting a bank-run is all the proof you need to see which side the law is on.

I always wondered if it was

I always wondered if it was illegal to chant "Run, Run, Run!" in a bank like yelling "Fire!" in a theater.

Southern Agrarian

Ban all government-controlled banks? Yes

Banning *all* banks is taking it too far though. I would like to voluntarily put my money in a bank that I choose, in an economy free from government regulation.

And I would sleep with supermodels

in a world where supermodels want to sleep with me....

At their inceptions, the #Liberty, #OccupyWallStreet and #TeaParty movements all had the same basic goal... What happened?