Bankers/Finance folk, your thoughts?

[ozleicester]

I came across what i thought (assume that i am a pinko, commy, bastard) was an interesting website  and i would be interested in the opinion of some of the resident financial whizzes of Foxestalk.

 

 

https://www.positivemoney.org/

 

 

https://www.youtube.com/watch?v=I_QC15C7o4A#t=43

 

 

 

https://www.youtube.com/watch?v=eHQ7wvWzUW0#t=231

[ADK]

Looks like a load of bollocks.

[kingcarr21]

Change that B to a W its much more appropriate.

[Mark_w]

'Watch the video to find out how money is at the root of high debt, inequality and unaffordable house prices.'

 

Gee, I thought  bananas were the root of the problem.

[Buce]

Merchant bankers.

The most appropriate rhyming slang ever.

[Rob1742]

Met with a good few bank managers who have been excellent.

However, never met a Financial Advisor yet who hasn't tried to flog you something you do not need and looked at their benefits rather than yours.

To the point that their attitude has hampered me investing.

I can only equate this to something like a gypsy knocking on your door asking you if you need your drive doing. You do need it doing, you want it doing, they can do it, but you just can't trust them. So you prefer not to have your drive done atall.

This isn't a joke, this is what I really think and it comes from having many experiences of them.

[ozleicester]

Looks like a load of bollocks.

 

 

Any particular reason why? it seemed to make some good sense to me.

 

'Watch the video to find out how money is at the root of high debt, inequality and unaffordable house prices.'

 

Gee, I thought  bananas were the root of the problem.

 

Not sure of you watched any of the videos, but it offers a solution, which appears to (pinko commie etc etc) me as workable and sensible.

 

can any of the bankers here explain why it wouldn't work?

 

oh by the by... One of Australia's bank chiefs pay for last year was 13 million dollars! Near enough to 20,000 pounds sterling  A DAY!

 

We bitch an moan about footballers wages.. at least they provide entertainment instead of destroying lives (akinbadbuy and Mills excluded)

[Carl the Llama]

Well first off you can't trust their figures:  The little banner across the top of the video claims "4 min." when the play bar clearly stops at 3:20.  Alarm bells.

[cambridgefox]

Looks like a load of bollocks.

Any particular reason why? it seemed to make some good sense to me.

 

 

Not sure of you watched any of the videos, but it offers a solution, which appears to (pinko commie etc etc) me as workable and sensible.

 

can any of the bankers here explain why it wouldn't work?

 

oh by the by... One of Australia's bank chiefs pay for last year was 13 million dollars! Near enough to 20,000 pounds sterling  A DAY!

 

We bitch an moan about footballers wages.. at least they provide entertainment instead of destroying lives (akinbadbuy and Mills excluded)

There are more lenders than borrowers .so if the banks can only lend what they have in,this falls down already.Not got time now but you do realise the Banks borrow money and get charged for lending themselves, and even get charged for holding excess branch/ cashpoint money overnight.the films showing robbers with thousands of pounds in a safe isn't reality I can tell you.nothing in my day.its quite complicated but interesting.

[Jackirius]

Banks don't just create money, their balance sheets have to add up at the end of the day, if their liabilities outweigh their assets for a particular day they borrow money from the interbank market and pay it back the next time their assets outweigh their liabilities. It's not as simple as these guys are making it out that they just type a few numbers into a computer system and a set amount of money just magically appears into your account, all the banks money has to come from somewhere otherwise what would stop banks from just creating billions of extra capital a day for their profit?