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Credit crunch - Fact or Fiction?
extralien
Member Posts: 6
So is this credit crunch fact or fiction?
Do you think it is really all to do with poor management or is it in order for the big players to wipe the floor and scoop up the property and smaller businesses of we, the people, in a greedy glutonous fest of depraved criminal behavoiur?
After all, the banks and large corporations are being bailed out by the governments (for which we never see a penny of and most banks still pay their top staff a bonus) where is this money really coming from? Why do they need to take it from us, the tax payer. Will we ever see anything given back to us?
Ever heard of Fractional Reserve Banking?
Or Modern Money Mechanics?
No?
Then check this video;
http://video.google.com/videoplay?docid=7065205277695921912
Take the time to watch it and you'll learn some really interesting information. You can check it all out and verify at your own will.. As far as I can make out, it is all genuine information.
You can even download a copy of Modern Money Mechanics in a pdf format from here;
It's time to wake up and see what's really going on... This very informative video explains why we have poverty, why we have homeless people, wars, prisons, police who watch your every move, why we have so much anger towards those who are supposed to be running things.
Still not convinced we are all living in a big lie?
Check out the documentary called 'The Century of Self"...
http://video.google.com/videoplay?docid=8953172273825999151
Still can't see the connection between the banks, money, war, jobs, homes and cars and recent events in Iraq?
Then try this one...
http://www.youtube.com/watch?v=Q3uvzcY2Xug
I hope that after oyu have watched these you will have a slightly better understanding of what's going on and why. They think we are puppets to play with..for their own pleasure, to keep them in power...
I don't want to har "but what can I do about it"... because you can do something..share these links with friends.. post them anywhere you like or can..
As you'll have seen in the first linked video, the guy running the Venus project is a 93 year old social engineer..
And us lot are foar younger and far fitter than he may currently be, so that gives us less of an excuse to not do anything...
Want to know more about the Venus project, then check;
http://video.google.com/videoplay?docid=3932487043163636261
And the main Zeitgeist web site;
http://www.thezeitgeistmovement.com/
I hope you all find this lot as interesting as I do... make your own minds up about it all...don't think i am trying to force it down your necks...but please do give it a chance..
Comments
Fiction.
I got my Discover Card bill two weeks ago and they increased my credit limit $2000. I didn't want it - need to call them and have them reduce it.
Fact and fiction.
Facts are those financial institutions that had low standards failed, because of those low standards. So if you have poor credit you can no longer get a loan. Though you should have never been able to get a loan with poor credit in the first place simply because that is what caused this problem in the first place. This is what people are upset about but they are just going to have to deal with it, because that is not going to change any time soon.
The remaining financial institutions never stopped lending, in fact from everyone I talk to in the business it is telling me it is actually easier for them to lend than ever. You just have to make sure you are taking care of business and you will have credit. Keep your credit score high and you won;t have any problems.
I strongly disagree that they should lower standards because that would just make this situation worse.
I've been reading a bit about credit ratings lately. It's a bizarre thing. Do you know that something as simple as asking a bank to decrease a spending limit or asking them to close down an account can adversely affect your rating? Even though YOU'RE the one asking for it. The criteria, and it's different for different lenders, seems very arbitrary and almost always unfair to the borrower. Some, Amex in particular were named on a tv show I watched, have even started profiling people's shopping habits. Now, when you switch from shopping at more expensive place and buy at the dollar stores to save a bit, it can make a mess of your score. Sometimes even trying to be responsible with your money backfires!
We actually stopped using credit cards a couple years ago or so. I decided that before we move back to Britain, I wanted to be completely credit card debt free so I decided to pay it all off. That and the fact that one of our credit card banks decided to try and raise our apr on a card that we had stopped using. We have never had a late payment or failed to pay on any of our bills, ever, so I assume they felt they weren't making enough profit off us. I declined and we closed the account.
The only difference not using cards made in our lives is that I am not putting quite as much in our savings as before. Soon, though, after everything is paid off, we'll be putting in twice as much as we did previously. We've been lucky but that might not always be the case, and it's certainly not for a lot of people. No more credit card debt for me. I've made a policy that as soon as a bank starts trying to bully me, I close the account, regardless of it's affect on my credit rating. A bank fiddling with our apr for no valid reason has happened twice now. I'm not planning to buy a house in the US, or even another car, so I don't care so much about the rating and to be honest, I feel better. If we fall on hard times, using credit cards to get through is an awful way to go, anyway.
I'm keeping one for emergency sake, but other than that, they are getting shredded as I pay them off. So far this year I have paid off $11,000 in credit card debt.
Hey! We've paid about the same since December! Congrats to us!
It's really the only thing to do. Gee, I'd love to help the economy out and spend, spend, spend but the only real defense is to get out of debt. Evidently, First National Bank of Omaha, which holds a lot of credit card debt, recently sent out a huge batch of letters raising the interest rate of many of their clients who had already closed their accounts due to the banks previous attempts to raise their rates. There is a opt out bit which states exactly this under their "Right to Reject the Changes" clause:
"We must receive your written notice by April 24, 2009. Provided your account is in good standing, you will be able to make changes on it until the "GOOD THRU" date that appears on your card. At that time your account will be closed and you will be required to pay the balance under the current terms and conditions."
Keep in mind that this is a letter sent to people who had already closed their accounts. Right. We really want to just pay you more money for absolutely no reason at all and to no benefit to ourselves, Mr. Bank. I don't know how many other banks are doing the same thing. I guess they are desperate, but it really is unscrupulous behaviour. You have to wonder how many people end up paying because they just don't notice.
I seriously suggest you all take a good long look at the zeitgeist addendum video.
In it there is mention of a man called Jerome Daly from Minnesota. In 1969 Daly took the banks to court. They were trying to reposess his home.
Anyway, in court, the case went along these lines;
The banker testified about the mortgage loan given to Jerome Daly, but then Daly cross examined the banker about the creating of money "out of thin air," and the banker admitted that this was standard banking practice. When Justice Mahoney heard the banker testify that he could "create money out of thin air," Mahoney said, "It sounds like fraud to me." I looked at the faces of the jurors, and they were all agreeing with Mahoney by shaking their heads and by the looks on their faces.
I must admit that up until that point, I really didn't believe Jerome's theory, and thought he was making this up. After I heard the testimony of the banker, my mouth had dropped open in shock, and I was in complete disbelief. There was no doubt in my mind that the Jury would find for Daly.
Jerome Daly had taken on the banks, the Federal Reserve Banking System, and the money lenders, and had won.
It is now twenty eight years since this "Landmark Decision," and Justice Mahoney is quoted more often than any Supreme Court justice ever was. The money boys that run the "private Federal Reserve Bank" soon got back at Mahoney by poisoning him in what appeared to have been a fishing boat accident (but with his body pumped full of poison) in June of 1969, less than 6 months later.
Both Jerome Daly and Justice Martin V. Mahoney are truly the greatest men that I have ever had the pleasure to meet. The Credit River Decision was and still is the most important legal decision ever decided by a Jury.
http://www.jail4judges.org/JNJ_Library/2005/2005-02-02B.html
You can do a search for J. Daly and see the huge amount of info relating to this case.
The strange thing is, it is still relevant, and is also good to fight against any debts you owe on ANY loan and ANY credit card.
The same principle applies to loans and cards as to the mortgages that are given out every day.
They are all fraudulent transactions on the part of the bank.
You do not have to pay any of it back. Check the video, check the internet...find out for yourselves. Gather your own evidence as I and others have done and it is shocking, horrific and down right criminal how these banks work like this when we have got jobless, homeless and hungry people on our streets in this Western world of the free. We work hard and what do we get?
We have got millions dying each year in 'third world countries' because the flow of necesary goods does not reachthem because of 'costs'.
Are we so inhumane that we measure life in dollars and cents...?
i think the idea with that is that it's meant to get people spending again which results in increased profits for companies, which leades to companies exapnding, which leads to them employing more, which elads to increase aggregate demand (cons. spending) which causes businesses to expand as increase in sales, and then more employed etc...and it goes on...
"If they can make Penicillin out of mouldy bread, they can sure make something out of you," - Muhammed Ali
I started watching it, extralien, but decided to wait and look at it with my hubby after he's done working. Thanks for the link! (a couple of them aren't working, by the way)
Signe, all links checked and fixed...dunno why they didn't work in the first place.
The stuff in those vids is amazing.. really left me thinking about a lot of things and all of it is verifiable. It's not just some stuff a group of people made up to get an internet ranking.. it is incredible to see what these people have discovered and are reporting on.