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Your Opinion, Please, On Some Radical Thoughts Regarding Banking:

By
Real Estate Agent with Platinum Realty SP00229578 2007027091

Your Opinion, Please, On Some Radical Thoughts Regarding Banking:

The other day, at the 7-11, I noticed a petition on the counter. It was protesting bank charges on credit cards..We all think about the charges from banks  from the consumer end, but who thinks about these charges from the perspective of the small business owner?

Friends owned Mom & Pop type stores for 3+ generations. The businesses provided enough money for a family to thrive on during two World Wars and The Great Depression. Both families told me, in the 1990's, that they could not afford to pay to have an ATM machine in their stores. Every small business owner I've listened to for the last 15 years has told me that the cost for them to process credit card transactions was sometimes not viable because of the bank fees & charges.

Do you suppose that these bank charges could have something to do with the number of small business owners going out of business in the last decade?  Deutsche Bank Profits

wreath concrete

 

 

 

(later in the day, someone sent me This video which got me thinking)

 

 

 

The National & International banks are charging consumers up to 30+% on their balance every month. Plus they are charging the businesses serving the consumers a monthly fee and/or a per transaction charge. How many transactions occur every day? How much money is that for the bank every month?

What does any of this have to do with our present housing crisis?

 To whom do usury laws apply?  Is it acceptable that National and International Banks are not required to follow the same regulations as State and Local Banks?

 

How about this story in the Washington Post about a woman who had a medical emergency, borrowed $2,000, then paid $11,000 in interest and charges over the next 18 months?

 

When did the politicians allow the world banking oligarchy to take our country hostage?

 

Was the economic contraction of 1907 engineered by powerful bankers who wanted to pass the Aldrich-Vreeland Act?

 

Who met in secrecy on Jekyll Island to create the original Aldrich bill which did not pass?

 

When congress passed the Federal Reserve Act of 1913, what power did that give bankers over our country? Were fears of plutocracy justified?

 

curvy road with posts

Is this history of the Bank of North America (1781), and the First and Second Bank of the United States  true and complete – or has some recorded history been conveniently altered?

Is the Federal Reserve Bank part of our government, or is it privately owned and operated – above the law?     

 

Is any of this important to us today?  Is the answer to our recession, housing market problems, and fluctuating stock market to be found in the history of banking?

How many people in the United States could pay their debts if it were not for the exorbitantly outrageous interest and fees tacked on by banks?

 

Is there a way for our country to rise above our current economic crisis without addressing the issue of International Banking? kitchen sink

 

 

 

 

This video gives a history of the money changers from the time of Julius Caesar up until the 1990’s. Milton Friedman, Nobel Prize Winning Economist, is quoted. Bills passed during the Andrew Jackson, the Lincoln, and the Reagan administrations are examined. The “gold standard” is discussed. The history of the Bank of England as it relates to our present banking system is covered. The video is 3 and ½ hours long (yikes) but I found it to be absolutely riveting.

 


"The most perfect political community is one in which the middle class is in control and outnumbers both of the other classes."

~Aristotle

 

Your thoughts and opinions would be greatly appreciated!

 

 

 

 

 

 

 

 

 

Posted by

Maria Morton,Realtor© Call 816.560.375Eight Mobile.     Google Maria 

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Comments(15)

Christine Farkas
Keller Williams Western Realty - Bellingham, WA
Awesome Customer Service Experience

Our banking system as we know it today should be criminalized. Interestingly enough, hundreds and eventually thousands of bankers will be spening time behind bars thus making my comment 100% valid.

The "Fed" is indeed neither Federal nor does it have any reserves. It is a private institution led by banking criminals themselves. It is a corporation owned the wealthiest of individuals who remain anonymous. The Fed holds our nation hostage every day.

It is indeed time to abolish the Fed and revamp the banking system.

 

Aug 05, 2009 11:18 AM
Maria Morton
Platinum Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Thank you, Chris. Now, do you think this post should be open to the public, or should I keep it Members Only?

Aug 05, 2009 11:37 AM
Sonja Patterson
Keller Williams - BV - College Station, TX
Texas Monthly 5-Star Realtor Recipient for the Hou

When I have some time I would love to watch the video on the International Banks gaining control of America.  Sounds very interesting.  Yes, Chris is right...if there were a run on the banks...boy, would we be in trouble!!

Aug 05, 2009 01:15 PM
Elizabeth Bolton
RE/MAX Destiny Real Estate Cambridge, MA - Cambridge, MA
Cambridge MA Realtor

Hi Maria ~ Thanks for posting about this *very* important topic. Why wouldn't you want it open to the public?  I've read a number of books about the growth of the credit industry and it is not pretty. People really need their eyes opened about this. I highly recommend the movie Maxed Out if you haven't seen it.

Hurrah for the small business owner with the petition.  At least it will get people thinking. I am appalled that people are using credit cards so frequently for minor everyday purchases.  We are all paying for their habit in increased prices.  Not to mention that studies show that people using credit cards rather than cash spend substantially more on average.

There is absolutely no excuse on earth for the interest rates and charges consumers are paying in a time of low interest rates.  And the fact that at this time your interest rate on past purchases can be increased dramatically with little notice is insane.

I'm off to follow some of your links - lots to explore in this post!

Liz

Aug 05, 2009 01:17 PM
Terry Haugen STAGE it RIGHT! 321-956-2495
Stage it Right! - Melbourne, FL

Maria, it all happened while we were not paying attention, very slowly.  Now we're awake!  I do know several gas stations/convenience stores no longer take credit cards.  We can all speak with our pocket books and stop using our cards.

Aug 05, 2009 01:26 PM
Maria Morton
Platinum Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Sonja, I would like to hear what you think of the video. Some of the information I know to be factual but there were a few quotes attributed to Presidents that I could not verify.

Aug 05, 2009 02:58 PM
Maria Morton
Platinum Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Liz, okay, I'll open it up. Out of 5 people in the store, I was the only one who read the petition. The interest rates are what I see as the real problem. The banks are making a killing.

 

Aug 05, 2009 03:00 PM
Maria Morton
Platinum Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Terry, you're right, we weren't paying attention. I've also noticed some businesses not taking credit cards. Not using them is a good idea.

Aug 05, 2009 03:02 PM
Mike Saunders
Retired - Athens, GA

Maria - the U.S. Supreme Court shot down usury laws in the late 70's or early 80's and then, later in the 90's also shot down some rules and that resulted in fees, etc. being counted as interest and under the no-cap non-usury laws. Congress, in both cases, has since failed to do anything about it. Yes, there are some new regs that take place next year, but, they still do not address what the impact of those two supreme court rulings had.

Aug 06, 2009 01:10 AM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Maria, As a small business owner I do not accept credit cards for this reason.  And I TRY not to charge more then I can afford to pay at the end of the month.  Many, many years ago I charged something for $1,700 and it cost me $3,000+ to pay it off.  Never again.

Aug 06, 2009 02:20 AM
Maria Morton
Platinum Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Mike, it is my opinion that this should be changed.

Carole, thank you for sharing. Learning about the dangers of credit is a hard lesson for all most of us.

Aug 06, 2009 04:49 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

I'm so disgusted with banks right now, that I could scream.  I remember watching a documentary, where one of old money bankers said banking was a business where you lent out one dollar and got two in return.  When you look at the interest rate they charge for credit on some of those cards, it's beyond usury.  There's much needing to be fixed with that industry. . .They are totally predatory.

Aug 06, 2009 12:39 PM
Maria Morton
Platinum Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Did you happen to watch that Money Masters video, Myrl?

Aug 06, 2009 02:59 PM
Russel Ray, San Diego Business & Marketing Consultant & Photographer
Russel Ray - San Diego State University, CA

Hey, Maria - You asked waaaaaaaaaaaaaay too many questions for me to answer all of them in this little comment box -- LOL.

I was watching Dylan Ratigan on MSNBC a couple of days ago. He said that the bank had just raised the interest rate on his credit card. He wondered why the bank, which got $50 billion in Federal bailout money and an exorbitantly low interest rate -- basically free money -- now uses that free money to turn around and double his interest rate. He's got a point. The system is broken, but no one is willing to fix it because too many people work for the banks to begin with.

Aug 21, 2009 09:12 PM
Maria Morton
Platinum Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Russel, I'm just an inquisitive person. Did you happen to watch the video? It was truly revealing.

Sep 03, 2009 01:41 PM