Why People Hate Aussie Banks

by | Jun 11, 2009 | banksters, Podcast

Today I’m recording a podcast about why people hate banks so much – and what we can do about it.

I’m interviewing a range of people about banks, independent commentators as well as bank representatives.

This all started with a twtpoll I started last night about which bank is the least evil.

We all know that banks are one of the major causes of the Global Financial Crisis. It’s time we did something about them.

Here’s a list of information and twitter comments I’ve gathered while preparing for the show:

All of the major banks in Australia have MAJOR negative customer satisfaction scores.

Bank fees rose by 8% last year to nearly $12 billion

There is absolutely no reason for bank fees of any kind to exist. Banks borrow our money and charge us for the privilege. Banks already make a metric fuckton of money just by HAVING our hard earned savings in their possession. (@ryanbooker)

without the govt guarantee, i would not be depositing w bendigobank. Nice guys, crap risk management. (@bernardk)

Have found St George to be best bank I have used in AU but I still get best service from UK banks despite being here 15 yrs (@marksmithers)

all banks are evil! $12 billion made from penalty fees in 2008 (@jeremycabral)

Salbuchi explains the Global Financial Collapse

by | May 30, 2009 | banksters, capitalism, geopolitics

Fascinating explanation on YouTube by Argentinian analyst Adrian Salbuchi on what the financial collapse is all about. He suggests that the entire financial system is "extreme capitalism" and a giant Ponzi scheme which will end in another global world war, the same way that the depression of the 30s was ended.

Part 1

http://www.youtube-nocookie.com/v/UlDNMB6wYmI&hl=en&fs=1&border=1

Part 2

http://www.youtube-nocookie.com/v/78ddURofMWs&hl=en&fs=1&border=1

Salbuchi goes on to explain the "new world orders" that we’ve already seen arise over the last century that were engineered out of WWI and WWII and the next "new world order", a world government. I’m a fan or having a world government – if it’s a legitimate democracy – but his explanation is quite dystopian, an unelected, unofficial world government run by private corporations and, in particular, a small handful of think tanks and lobby groups. Hey – isn’t that the world we already have? Yes – and that seems to be his point. Salbuchi says there is no conspiracy theory involved – all of the players are out in the open.

Part 1

http://www.youtube-nocookie.com/v/dEp1D5hAGO8&hl=en&fs=1&border=1

Part 2

http://www.youtube-nocookie.com/v/X4pDIwMukA8&hl=en&fs=1&border=1

Where Does Money Come From?

by | Apr 25, 2009 | banksters, capitalism

I’ll admit that, until now, I’ve never wondered much about where money comes from. However, after watching this video, I am totally fascinated by the concepts it explores. I can’t vouch for the accuracy of the content or how it applies in Australia, but nevertheless, it’s a terrific video that everyone should watch.

The basic premise of the video is that the monetary system we have in the West is a complete fraud and totally unstable as it is built on the foundation that money is created by the banking system through issuing debt. When they agree to loan you (or a corporation or a government) money, they literally create that money out of nowhere. Watch and learn more. I’ll no doubt be talking about this during next week’s live show which will feature @brad_fidler talking about the origins of – and possible alternatives to – capitalism.

The video was created by Paul Grignon and I was pointed to it by @lelaissezfaireisover.

http://vimeo.com/moogaloop.swf?clip_id=2244372&server=vimeo.com&show_title=1&show_byline=1&show_portrait=0&color=&fullscreen=1
Money as Debt from RoneTyne on Vimeo.

William K Black on The Financial Crisis Cover-Up

by | Apr 6, 2009 | banksters, capitalism

Bill Moyers sits down with William K. Black, the former senior regulator who cracked down on banks during the savings and loan crisis of the 1980s. Black offers his analysis of what went wrong and his critique of the bailout.

I love the term they are using for bankers who deliberately defraud society – “banksters”. Black says the entire financial system is one big ponzi scheme, making Bernie Madoff looking like an amateur and fall guy for the larger crime which involved the entire financial system and governments who allowed them to go unregulated.

Watch.