OWS Bank

Posted: 07/12/2011 by zandtao in Finance
Tags: , , ,

I have just been reading the #OWS plans for alternative banking, Based around these 7 concepts:-


the bank is certainly attractive.

Here is the scenario that frightens me. It is a version of capital flight. Now money is printed now without any basis to back it up. The Fed gave the banks $7.7 trillion without going through congress, $16 trillion throughout 4 years – CAO audit, and according to Bloomberg Wall Street got 1.2 trillion in emergency loans. These figures are silly money, they are out of control of any government, influential hands are securing these monies, and eventually large figures will end up in the bank accounts of the most powerful of the 1%. At present there is a recession, and most significantly there is absolutely no confidence in the financial system, and it is that confidence that has held up capitalism as a working system – the proverbial deck of cards. So when that deck collapses, people will be grabbing for money. The 1% will pay for security, and they will have the law under their control. Under such circumstances can the OWS bank provide security?

Now there is a sustainable bank – Triodos, could they hold out?

With so much “money” slushing around can currency hold its values when such currency has no meaning. So I don’t know whether an OWS bank can withstand that. But ethically it is stronger and is worth supporting.

I much prefer alternative currencies and a return to trading that is barter. In the end there is no system that can cope with the lawlessness that the rich are taking us towards, but young people need to consider their skills sets and their abilities to be independent of the finance. Pensions have no security. I worked for a long part of my life to have a secure pension, theoretically I had one. Now the UK government along with other countries are messing with the pensions whilst banksters deposit the bailouts in thir coffers. Young people cannot rely on pensions. Their retirement needs to be based around tangible assets that they can trade with – land growing veg for example. Skillsets that have practical meaning such as carpentry rather than 1% theoretical skills – like a maths teacher; devloping two professions – one for the 1% system and one when that fails. I am unsure that my pension will keep coming for 25years, can 21-year-olds be sure that pensions will pay in 64 years? When you are 80 you can’t work, what provision can the young make for that when there is no financial security?

Currencies that can be traded through alternative communities so that as the banksters clamour for their paper zeroes ordinary people have different currencies that carry meaning through honour and barter. In the end there is no way to defeat the lawlessness that is being created but some sensible foreboding can alter the way the young prepare themselves for this inevitability.

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