I have been thinking about the terrible system for a while...

[rumpel]

My rant portion:

When you consider how banking and the entire economy is structured these days- I have real qualms that on and off I was thinking of writing congress that the entire system needs an overhaul -even from the (stupid) consumer :sarcasm: point of view such as myself. The inequalities are incredible.

In the 80's when my ex and I bought our house, we went to our local bank. Sat down for an interview with a loan officer, who was knowledgable about the area. He was someone from the community. It was personal and fair.
We also had a nice relationship with a local bank handling your checking and savings. How are you, good morning etc. People borrowed money when we needed it and faithfully repaid it.

What happened since? Excessive greed. Banks gobbled up other banks and continue to do so. In order to be able to handle the enormous amount of accounts and money with as few people as possible, they outsource certain functions, and buy information for the decision making from companies such as the credit bureaus, which then turn around and sell that to anyone that pays. Information that is void of truth about a person - but is merely a statistic based on "proprietary" assumptions and methods, even if the data was accurate, which most often is not, as well as incomplete.

The tellers at our local branch of a bank, thousands of miles away, are "rotated" to other branches. New faces, every several months, means having to show them your ID to even make a stupid deposit (unless it is electronic of course) There is suspicion written all over the face, you must be a 'terrarist', is the money you deposit laundering money for "terra"? They go to the back and speak with the branch manager, and as he/she comes back, you are told, "well anyhting above xxx amount must be reported to the Feds". So? Make my day, as if I did not hear that from the previous set of tellers.

The banks sell mortgages to investors, who again sell it to other investors and eventually no-one knows who really holds the deed of trust on your house. They install another company, which basically acts as a trustee for all these banks and investors, for example M.E.R.S, so they can trade the loan on your house ad infinitum.

It simply is a horrible mess of conflict of interests, and a maze of middlemen that latch on like bloodsucking insects, from beginning to end.
You have the mess of small businesses not being able to borrow money when needed, as banks become "risk averse", but freely dish out hundreds of millions in loans for any merger considered by large corporations. Equity investors and investment bankers don't even look at anything requiring less than 10 Million, it is simply crazy.

As for Washington, who do they protect? Not the every day Jane and Joe or mom & pop store. No wonder we have so many problems. And people take their lives out of desperation and utter despair.

Last night, I saw a new article by Robert Gover, as he reads the planets, all this may take a drastic turn:

The upcoming Saturn-Neptune opposition will be within orb of effectiveness from the summer of 2006 through 2007. It will make three exact “hits,” beginning with August 31, 2006. This opposition will be roughly concurrent with a 76.6-year cycle, discovered centuries ago by Mayan astrologers, which last bottomed during the great depression of the 1930s. Add 76.6 years to 1932 and you get the summer of 2008, when a Saturn-Uranus opposition is due to form and we can expect more dramatic events to impact our money system.

How resilient is our monetary system? It’s widely understood by financiers and economists that our dollar-based system no longer does what any functioning monetary system must do: Spread prosperity throughout all sectors of society. Since the dollar is the currency of choice for international trade, much of the world is dependent on the US monetary system, and the disparity between Haves and Have-nots worldwide has never been greater.

A concurrent symptom of a dysfunctional system is a speculative bubble. This happens when a wealth disparity puts excess money into the hands of the rich, who are then prone to use that extra money to indulge in risky investments, using money to produce more money, instead of profiting from investments in goods and services.

snip

Among many other things, Neptune has to do with illusions, delusions and falsehoods. Which brings us to the single worst vulnerability our present monetary system has. Economist John Williams (4) has expressed it this way:

If you believe the government, annual inflation is running less than 3.5%, unemployment is less than 5%, annual GDP growth is about 3.5%, and the 2005 federal deficit was $318 billion.

In reality, however, annual inflation is over 8%, unemployment is around 12%, and annual GDP growth is flat. Not only does common experience support the latter set of numbers, but also taking a close look at how government economic reporting has been manipulated over time. What will surprise many, though, is that the annual 2005 federal deficit was $3.5 trillion (not billion). That extraordinary number is as reported by the U.S. Treasury, using generally accepted accounting principles.

snip

Our existing monetary system is so dysfunctional it’s now in a subtle kind of meltdown phase. The Saturn-Neptune opposition will demand it be revised, redesigned, replaced. If this can be accomplished soon enough, we will avoid the worst.

But there is scant reason for optimism. Our form of democracy has become, “We elect ‘em but the big money owns and operates ‘em,” so we can expect no help from Congress as it’s presently constituted. We have become a nation indoctrinated with, “Get rich or die,” forgetting that even the wealthiest billionaire ends as dust, the same as everyone else.

http://www.stariq.com/Main/Articles/P0007170.HTM

[Cleita]

1. I think the deregulation of banking is a big problem.

It used to be that banks could only operate as full service banks in one state. It kept behemouths like Chase Manhattan and Bank of America from taking over the whole industry. If they did open a branch office in another state, the services they could offer were very limited like maybe escrow or estate planning. Savings and Loans could not operate as banks.

Also, they seem to have dropped the inspection by a government agency auditors that used to be done to make sure that they were operating honestly with no money laundering or other dishonest practices.

We really need to go back to older regulatory laws for all these commercial industries, like banks, stock brokerages and insurance companies and I personally think states need to regain more regulatory control again. Also, the credit card industry really needs to be reined in with usuary laws that used to be on the books.

Once upon a time the highest interest allowed any lending industry was 18% per year and not compounded by the hour like these guys seem to be doing today. It might make them more vigilant about whom they extend credit to if they can't cover their losses from the high interests extracted from the honest people who pay them.

[rumpel]

2. Yes, agree and how is it

that conflict of interest such as lenders owning insurance companies as subsidiaries are even allowed.

The greed is going to do them in.

Neptune / Saturn, I am preparing my popcorn -even though I know, a collapse will impact us all - if it is to correct and bring humanity back into the system - "bring it on" :evilgrin:

But let's all be forewarned. ;)

[stellanoir]

3. "if it is to correct and bring humanity back into the system"

Really true and so warranted. I'm always going on about how a truly pure spiritual humanism is the only real antidote for all the extremism and conflicts with which we are now plagued.

Also the article on Saturn/Neptune made me think of two things. . .Firstly, it was around the time of the Saturn Uranus conjunction in '88-'89 when the whole "greed is good" mentality took over in an overt way. Secondly, I was reminded of the epi generation who have Neptune, Uranus, and Saturn all in Capricorn and how they're likely to completely transform government, monetary, and corporate institutions, in their time.

[rumpel]

9. probably also the time when the

pnac and college repubs got into full swing and action?

glad you are ok - :)

[stellanoir]

11. yup & thanks

around then was when the RW fundies started getting some attention as well and many thought they were wayyy too far out there and unlikely to get any real power. Whoops. . .guess again.

Fortunately though, at least Pluto won't be in Sagg forever and Neptune's ingress into Pisces will hopefully inspire real spirtuality as opposed to all the BS extremist dogma. Gotta ways to go though.

[Cleita]

4. Well, there is the matter of the anti-trust laws being gutted.

If Neptune/Saturn can correct that, we are on our way back. I have nothing against capitalism, but I do believe corporations exist for humanity not the other way around like it is now.

[rumpel]

5. FYI - it is interesting to read the other

article and reading of Gover

http://www.stariq.com/Main/Articles/P0006992.HTM

The development of global corporations over the past 500 years has been marked by outer planet cycles (Saturn, Uranus, Neptune and Pluto), especially Neptune-Pluto conjunctions, and Saturn-Neptune conjunctions and oppositions. To cite just two instances:

1) When American colonists declared independence from England in 1776, they also freed themselves from control by English corporations that extracted their wealth and dominated trade. After fighting a revolution to end this exploitation, our country's founders retained a healthy fear of corporate power and wisely limited corporations exclusively to a business role. Corporations were forbidden from attempting to influence elections, public policy, and other realms of civic society. Initially, the privilege of incorporation was granted selectively to enable activities that benefited the public, such as construction of roads or canals. Enabling shareholders to profit was seen as a means to that end.(1)

This followed the Saturn-Neptune opposition of 1756-1757, and a Uranus-Pluto square, from Sagittarius to Neptune-ruled Pisces, as the French and Indian War morphed into rebellion by American colonists.

Accidental Birth

2) The birth of the modern corporation was an accidentally-on-purpose mistake made by a court clerk, J. C. Bancroft Davis, writing a "headnote" or summary of an obscure case designated Santa Clara County v. Southern Pacific, on May 10, 1886. The headnote Davis wrote said, "The defendant corporations are persons within the intent of the clause in section 1 of the Fourteenth Amendment of the Constitution of the United States, which forbids a state to deny any person within its jurisdiction the equal protection of the laws." The Fourteenth Amendment was passed June 13, 1866 following the American Civil War. Its purpose was to provide equal legal protection to former slaves.(2)

This history-changing headnote was written during a conjunction of Neptune and Pluto, and a simultaneous square between Saturn and Uranus.

I would be curious to read some of his books and novels

[Cleita]

6. That is interesting. Thanks for posting.

Maybe what's needed is some progressive lawmakers to get in there and take us back to the intentions of the founding fathers, in many other ways, besides how much influence corporations should be allowed.

[rumpel]

10. Pleasure.

I learned a lot from his articles.

and it seems - the corporation should not be defined as a "person". That will also solve the problem of election campaign financing limits.

probably tough to undo the caselaw, though.

[DoYouEverWonder]

7. Try doing business with a locally owned bank

I find they treat you much better. Or a Credit Union, I've had good experiences with both.

I wouldn't bank with a megabank if you paid me anymore. The last one told me, she couldn't possibly give me certain services because they had over 2000 customers. I said, that's why I'm closing my account with you.

[rumpel]

8. Yes, probably a credit union is the best bet.

I was banking with a local bank, when another bank bought them up.
And it started in the early 90's. We had 1st Interstate hostile takeover, Security Pacific Bank and on and on and on. No local bank is immune from those vulture banks.

I read about a man, who started to loan his money to local poor people. These people are honest hard working people and while he knew of risks they all continued to return the money when they could and he eventually build up his bank. To this day he gives small loans to poor people and his bank is quite big. I don't remember exactly where I found this, but for many, he is a savior. I believe is somewhere in Asia.
If I find it again I will post his story