Why are Banks and Corporations Allowed to Rob People....

Off Topic Politics & World Issues
21

[quote]hoosegow wrote:
This is some funny ass shit OP. I haven’t heard of any bank or corporation forcing anybody to do anything. Robbing and stealing from people is a right only held by the US government. Perhaps you’ve heard of it. It is called taxation. [/quote]

Tjis is another thread by itself…but the banks are responsible for the economic conditions as they are now. And perhaps you read about the $700 billion they stole from the public. So while you and me are struggling to make it, they get almost a trillion dollars just because they say they want it. You know how many jobs that could have created or how mant people that money couldve helped?

22

[quote]polo77j wrote:
Jeeeesus … just another product of the public education system … there should be more of the “stolen” taxation money spent on funding a better education system rather than more money for welfare and there’d be a.) less people on welfare therefore less of a “need” for it and b.) less conversations like this.

Clip, here’s the difference: People GO INTO BANKS WILLINGLY to DEPOSIT their money by means of their own free will in hopes that at best the bank offers an interest rate that will allow their money to grow. How the banks are able to do this is by lending the money you deposit to other people who then use that money to purchase things such as capital or assets. Here’s the catch, it costs money to borrow money from banks. It’s called interest and it’s a percentage of how much money the borrower owes. There is interest on the money that the bank borrowed from you, too. All of this is assuming that the end borrower can pay back the money along with the cost (interest) of borrowing. In return, the money you deposited grows a certain percentage as promised by the bank. That’s the gist of it.

A person who walks into the bank and forces, through promise of violence, the bank to hand over your deposited money interrupts the process or lending and borrowing.

I can tell today’s going to be a great day![/quote]

I dont care if someone robs a bank my moneys safe anyways…all I do is go to another branch and withdraw. If I could stop the person, would I…probably not. They just getting back a tiny portion of that 700 billion that was stolen from the public to give to the banks. Because God forbid that one of their CEO’s salaries drop from $10 million a year to “only” $5 million a year

23

[quote]clip11 wrote:
polo77j wrote:
Jeeeesus … just another product of the public education system … there should be more of the “stolen” taxation money spent on funding a better education system rather than more money for welfare and there’d be a.) less people on welfare therefore less of a “need” for it and b.) less conversations like this.

Clip, here’s the difference: People GO INTO BANKS WILLINGLY to DEPOSIT their money by means of their own free will in hopes that at best the bank offers an interest rate that will allow their money to grow. How the banks are able to do this is by lending the money you deposit to other people who then use that money to purchase things such as capital or assets. Here’s the catch, it costs money to borrow money from banks. It’s called interest and it’s a percentage of how much money the borrower owes. There is interest on the money that the bank borrowed from you, too. All of this is assuming that the end borrower can pay back the money along with the cost (interest) of borrowing. In return, the money you deposited grows a certain percentage as promised by the bank. That’s the gist of it.

A person who walks into the bank and forces, through promise of violence, the bank to hand over your deposited money interrupts the process or lending and borrowing.

I can tell today’s going to be a great day!

I dont care if someone robs a bank my moneys safe anyways…all I do is go to another branch and withdraw. If I could stop the person, would I…probably not. They just getting back a tiny portion of that 700 billion that was stolen from the public to give to the banks. Because God forbid that one of their CEO’s salaries drop from $10 million a year to “only” $5 million a year

[/quote]

Ok so now you want an explanation about corporations? They’re privately own and run … the board of directors all agree on salaries for the CEO’s based on performance … you don’t like it? Don’t invest your money in that corporation and don’t reap the benefits of profit … you don’t like the system as a whole move to Sweden

24

Why are banks allowed to rob people? That’s simple dude. Because people allow it. If people were to go back to the days of paying cash for everything, the power would shift back to the people. It would also drop the prices of alot of things. The credit card gave power to the banks and lenders at the expense of the person or people. I understand banks need to make their money, but what’s going on today is legalized robbery.

25

[quote]MaximusB wrote:
Why are banks allowed to rob people? That’s simple dude. Because people allow it. If people were to go back to the days of paying cash for everything, the power would shift back to the people. It would also drop the prices of alot of things. The credit card gave power to the banks and lenders at the expense of the person or people. I understand banks need to make their money, but what’s going on today is legalized robbery. [/quote]

Yeah that is true the people do allow it…like a lamb being led to its own slaughter…the question is, how do we get people to realize this on a mass scale?

For example, one person refusing to use credit cards or have a bank account wouldnt make a bit of difference, but if 10 million or 100 million people were to do the same, it would make a hell of a difference.

26

[quote]polo77j wrote:
clip11 wrote:
polo77j wrote:
Jeeeesus … just another product of the public education system … there should be more of the “stolen” taxation money spent on funding a better education system rather than more money for welfare and there’d be a.) less people on welfare therefore less of a “need” for it and b.) less conversations like this.

Clip, here’s the difference: People GO INTO BANKS WILLINGLY to DEPOSIT their money by means of their own free will in hopes that at best the bank offers an interest rate that will allow their money to grow. How the banks are able to do this is by lending the money you deposit to other people who then use that money to purchase things such as capital or assets. Here’s the catch, it costs money to borrow money from banks. It’s called interest and it’s a percentage of how much money the borrower owes. There is interest on the money that the bank borrowed from you, too. All of this is assuming that the end borrower can pay back the money along with the cost (interest) of borrowing. In return, the money you deposited grows a certain percentage as promised by the bank. That’s the gist of it.

A person who walks into the bank and forces, through promise of violence, the bank to hand over your deposited money interrupts the process or lending and borrowing.

I can tell today’s going to be a great day!

I dont care if someone robs a bank my moneys safe anyways…all I do is go to another branch and withdraw. If I could stop the person, would I…probably not. They just getting back a tiny portion of that 700 billion that was stolen from the public to give to the banks. Because God forbid that one of their CEO’s salaries drop from $10 million a year to “only” $5 million a year

Ok so now you want an explanation about corporations? They’re privately own and run … the board of directors all agree on salaries for the CEO’s based on performance … you don’t like it? Don’t invest your money in that corporation and don’t reap the benefits of profit … you don’t like the system as a whole move to Sweden[/quote]

Im not talking about any privately owned company, Im talking about banks getting public money to pay private salaries. That CEO getting your and my tax dollars to help pay his $10 million dollar salary doesnt do shit to help out either of us…can I call one of them to loan me $20 to get some gas, better yet, can I call one of them to hook me up with a job? The answer is no and no.

And the bad part is, the government had $700 billion, its not like it had to print new money (or should I say its not like the Federal Reserve had to print new money) it was already there! But I know, they were concerned about the mass murder-suicides that would occur once the public found out their favorite banking CEO could no longer afford his $50 million dollar mansion and had to move into a $20 million mansion!

27

In the OP defense, not everyone is going to understand the subtleties that differentiate, a business deal that is not in one best interest and out and out theft. That is why simplification is needed. I have to agree with the OP it has become so close to theft that it is not funny.

28

If someone wen’t around trading rocks off the ground to mentally handicapped people (retards) for 20 bucks a pop, I am sure pretty much everyone would be against that. Well this is the same, people don’t understand what they are getting in return for thier 20 bucks. Or that they have just signed up for that 20 bucks to be turned into 100 bucks or 10000 bucks.

I mean yes to the educated the idea is simple, but you would be surprised how many people make it through high school without the slightest idea of what an interest rate is or how it applies to them. All they know is that they have a paice of plastic that can get them things and thier monthly payment on it is only 50 bucks.

V

29

[quote]clip11 wrote:
hoosegow wrote:
This is some funny ass shit OP. I haven’t heard of any bank or corporation forcing anybody to do anything. Robbing and stealing from people is a right only held by the US government. Perhaps you’ve heard of it. It is called taxation.

Tjis is another thread by itself…but the banks are responsible for the economic conditions as they are now. And perhaps you read about the $700 billion they stole from the public. So while you and me are struggling to make it, they get almost a trillion dollars just because they say they want it. You know how many jobs that could have created or how mant people that money couldve helped?[/quote]

Tsk, tsk, tsk…

Who stole the 700 billion?

30

[quote]orion wrote:
clip11 wrote:
hoosegow wrote:
This is some funny ass shit OP. I haven’t heard of any bank or corporation forcing anybody to do anything. Robbing and stealing from people is a right only held by the US government. Perhaps you’ve heard of it. It is called taxation.

Tjis is another thread by itself…but the banks are responsible for the economic conditions as they are now. And perhaps you read about the $700 billion they stole from the public. So while you and me are struggling to make it, they get almost a trillion dollars just because they say they want it. You know how many jobs that could have created or how mant people that money couldve helped?

Tsk, tsk, tsk…

Who stole the 700 billion?

[/quote]

Well … from the earlier argument about taxation = theft, the government stole it.

31

[quote]clip11 wrote:
MaximusB wrote:
Why are banks allowed to rob people? That’s simple dude. Because people allow it. If people were to go back to the days of paying cash for everything, the power would shift back to the people. It would also drop the prices of alot of things. The credit card gave power to the banks and lenders at the expense of the person or people. I understand banks need to make their money, but what’s going on today is legalized robbery.

Yeah that is true the people do allow it…like a lamb being led to its own slaughter…the question is, how do we get people to realize this on a mass scale?

For example, one person refusing to use credit cards or have a bank account wouldnt make a bit of difference, but if 10 million or 100 million people were to do the same, it would make a hell of a difference.[/quote]

This isn’t an issue of people not knowing, EVERYONE knows about it. The bigger question is why aren’t people doing anything about it? I sat here watching the news, and how the CEO’s of these companies were given severence packages of millions while the PEOPLE of this country lost a shit ton of money in their pension, 401k, home equity, and not a single person went to jail.

32

[quote]MaximusB wrote:
clip11 wrote:
MaximusB wrote:
Why are banks allowed to rob people? That’s simple dude. Because people allow it. If people were to go back to the days of paying cash for everything, the power would shift back to the people. It would also drop the prices of alot of things. The credit card gave power to the banks and lenders at the expense of the person or people. I understand banks need to make their money, but what’s going on today is legalized robbery.

Yeah that is true the people do allow it…like a lamb being led to its own slaughter…the question is, how do we get people to realize this on a mass scale?

For example, one person refusing to use credit cards or have a bank account wouldnt make a bit of difference, but if 10 million or 100 million people were to do the same, it would make a hell of a difference.

This isn’t an issue of people not knowing, EVERYONE knows about it. The bigger question is why aren’t people doing anything about it? I sat here watching the news, and how the CEO’s of these companies were given severence packages of millions while the PEOPLE of this country lost a shit ton of money in their pension, 401k, home equity, and not a single person went to jail. [/quote]

I did hear one of the CEOs for a banking corp. say his employees were being harassed

33

You can harass the ever living shit out of me if I get to keep someone else’s millions.

34

[quote]Vegita wrote:
If someone wen’t around trading rocks off the ground to mentally handicapped people (retards) for 20 bucks a pop, I am sure pretty much everyone would be against that. Well this is the same, people don’t understand what they are getting in return for thier 20 bucks. Or that they have just signed up for that 20 bucks to be turned into 100 bucks or 10000 bucks.

I mean yes to the educated the idea is simple, but you would be surprised how many people make it through high school without the slightest idea of what an interest rate is or how it applies to them. All they know is that they have a paice of plastic that can get them things and thier monthly payment on it is only 50 bucks.

V[/quote]

I doubt that it would do anything, but I really would like to see a mandatory personal finance class in high school. Forcing everyone to at least have cursory knowledge of credit, insurance, investments, retirement, health costs, mortgages etc etc etc might(but probably not) go a long way.

35

[quote]clip11 wrote:
And its ok? But if someone does it to a bank or corporation its “wrong” and “immoral”? A multi billion dollar bank cheats and gouges people by charging them high fees etc is ok, but a man who may rob a bank because he’s in a desperate situation is a criminal when

  1. The banks money is insured
  2. Because its insured, the bank isnt losing anything because its going to get it back[/quote]

Banks and Corporations don’t rob anyone. They offer contracts which people sign without reading and then complain about.

36

[quote]orion wrote:
hoosegow wrote:
This is some funny ass shit OP. I haven’t heard of any bank or corporation forcing anybody to do anything. Robbing and stealing from people is a right only held by the US government. Perhaps you’ve heard of it. It is called taxation.

That is not entirely true, banks have that right too. It is called fractional reserve banking.[/quote]

Please explain how fractional reserve banking is the same as taxation.

37

[quote]MaximusB wrote:
You can harass the ever living shit out of me if I get to keep someone else’s millions. [/quote]

Same here!

And speaking of Madoff stealing billions…if I had to go to prison for 3 or 4 years for stealing billions of dollars that I get to keep, id steal that money like a motherfucker! Ill be 23 this year, so after 4 years id be 27 and out of the joint with a few billion to my name.

38

[quote]Regular Gonzalez wrote:
orion wrote:
hoosegow wrote:
This is some funny ass shit OP. I haven’t heard of any bank or corporation forcing anybody to do anything. Robbing and stealing from people is a right only held by the US government. Perhaps you’ve heard of it. It is called taxation.

That is not entirely true, banks have that right too. It is called fractional reserve banking.

Please explain how fractional reserve banking is the same as taxation.[/quote]

Because whenever they create money out of thin air they practically steal from you. So if taxation equals stealing as the post before mine claimed, banks can do that too.

Due to its reoccurring nature taxation is more like servitude though.

39

[quote]orion wrote:
Regular Gonzalez wrote:
orion wrote:
hoosegow wrote:
This is some funny ass shit OP. I haven’t heard of any bank or corporation forcing anybody to do anything. Robbing and stealing from people is a right only held by the US government. Perhaps you’ve heard of it. It is called taxation.

That is not entirely true, banks have that right too. It is called fractional reserve banking.

Please explain how fractional reserve banking is the same as taxation.

Because whenever they create money out of thin air they practically steal from you. So if taxation equals stealing as the post before mine claimed, banks can do that too.
[/quote]
This is stretch. Let’s say we were on a gold standard and there was no fractional reserve banking. Would a new discovery of large gold deposits be stealing from you?

Money is like any other comodity. More can be created and lower the price. The problem is effectively outlawing other forms of competing currency.

We would see the same problem if required all transactions to be in corn. Corn growers would have complete control of currency. Growing more corn wouldn’t be the problem. Not allowing people to ignor corn as a form of currency would be.

40

[quote]dhickey wrote:
orion wrote:
Regular Gonzalez wrote:
orion wrote:
hoosegow wrote:
This is some funny ass shit OP. I haven’t heard of any bank or corporation forcing anybody to do anything. Robbing and stealing from people is a right only held by the US government. Perhaps you’ve heard of it. It is called taxation.

That is not entirely true, banks have that right too. It is called fractional reserve banking.

Please explain how fractional reserve banking is the same as taxation.

Because whenever they create money out of thin air they practically steal from you. So if taxation equals stealing as the post before mine claimed, banks can do that too.

This is stretch. Let’s say we were on a gold standard and there was no fractional reserve banking. Would a new discovery of large gold deposits be stealing from you?

Money is like any other comodity. More can be created and lower the price. The problem is effectively outlawing other forms of competing currency.

We would see the same problem if required all transactions to be in corn. Corn growers would have complete control of currency. Growing more corn wouldn’t be the problem. Not allowing people to ignor corn as a form of currency would be.[/quote]

There are two problems with this, leading back to one source. Gold is limited and you have to work to get it out of the ground.

So,

A. Creating new money buy lending out more money than you have is not the same as digging actual gold out of the ground. The first misleads people and causes them economics harm, the second is an ordinary process in any market economy, when there is more of an actual good what you own is worth less.

B. Even if they started digging like mad, they could inflate the currency with what percentage each year? There is no chance of tripling it in mere decades.

Ultimately I think that you are right though and that simply removing the government monopoly on money would also kill fractional reserve banking.

I just cannot get over the fact that it is fraudulent and would never be accepted in any other business and this is one of the few areas where I believe in government intervention.-