BANKS DELIBERATELY, KNOWINGLY, LURED PEOPLE INTO EXCESSIVE DEBT

The whole point about an explanation of what money and labour are, and the relationship between the two and how money is just needed to facilitate labour is that you can see that all the financial problems are only caused by money being ‘interfered’ with.

So, how is it interfered with and who interferes with it to inject the unreliability, immorality and dishonesty which damages or destroys the functionality of money and prevents it from being used for it’s simple purpose of enabling jobs to be done to create assets and real wealth ?

There can only be two suspects. One is Governments, and the other is the banks; because the banks have a comprehensive stranglehold over every part of ‘money’ and the production of money, storage of money and movement of money at all times, wherever it goes.

The stranglehold the banks have over money has increased exponentially in recent times and the mendacity of the banks has also visibly increased as they have realised how gullible and powerless the public and Government are.

People thought credit cards charging 18% forty years ago were extortionate. – when interest rates were not generally particularly low.

Today, credit cards routinely charge perhaps 36% when the bank rate is at it’s lowest ever. Other charges banks make in every area are also quite excruciatingly excessive, amounting to little more than extortion.

Charges like this are a good indicator of the increasing boldness of banks to steal increasing amounts of money from the population for doing nothing more onerous than fiddling around with a few figures in ledgers on computer screens. And the public just accept it with a few pathetic grumbles, too gutless to actually do anything about it.

In their demented frenzy of greed the banks have even attempted to charge people for taking out their own money from ATM’s, which if you think carefully about it, is just plain theft.

The banks are exclusively responsible for unrealistic increases in property prices from about three times average salary to twice that in just a generation by recklessly issuing unlimited amounts of ‘new’ money which they rammed down the throats of property buyers who were forced, tricked or conned into borrowing more and more whether they liked it or not.

It was specifically this frenzy of manufacturing ‘new’ money that got quite out of hand with Lehman’s Bros wheeze of bundling all those mortgages into CDO’s or weird derivatives in a process designed to instantly turn one pound into three by sleight of hand.

So a bank lent money to a property buyer as a mortgage by just manufacturing previously non-existent ‘new’ money. That mortgage was then immediately sold to another investor who paid the bank for it. The bank then had another lump of money to lend as another mortgage to yet another property buyer, all in the blink of an eye. And the process just kept speeding up as billions and billions, and then trillions of pounds of ‘new’ money were conjured into existence by the sheer greed of the banks.

All this ‘new’ money was deliberately manufactured by the banks because it was the way a bank can make almost unlimited profits. All the interest charged by the banks on all those loans became the property of the bank which could then use it to pay all those gigantically obscene bonuses we hear so much about.

The fact is, banks make so much money, those bonuses leave plenty of profit left over for the bank and its shareholders to line their pockets with too.

This whole merry circus depends on banks being able to lend ever increasing amounts of money on which they charge ever increasing amounts of interest and other inventive ‘charges’.

The banks realised lending on property was a good wheeze, because it would be able to soak up such a vast amount of new lending, enabling the banks to rake in huge amounts of income from the interest. It was an almost unlimited pot of money for the sticky fingers of the banks to dig into.

So what effectively happened over a number of years is that vast amounts of debt was deliberately and willfully imposed on any and every owner of property, who generally found it impossible to avoid or escape from because the entire property market was being manipulated and rigged by the banks to their advantage.

This became obvious as the banks took over the old and more reliable building societies. You can see how all the rules of property owning and purchase changed and accelerated at that point to become a frenzy of shark infested, rapacious financial greed, engineered and fostered by the banks.

Property prices had to rise faster and faster to previously unimagined heights to allow the banks to lend ever increasing amounts of money on which the banks could charge ever increasing amounts of interest and thereby make ever increasing profits for their greedy little selves.

And then, predictably, the whole thing exploded. But the banks are so powerfully in complete control of every aspect of money and have so much control over so many borrowers – whole swathes of the economy and the Government finances too – that nobody can hold them to account for the enormous evil they have inflicted on us all.

So, the Government first of all has to bail the banks out of their inconvenient little bankruptcy, and then the taxpayer – every man woman and child in the country – now has to pay out of their own pockets to allow the banks to carry on paying themselves ludicrous bonuses, dust themselves off, and just carry on as before, after a suitable, but brief, pause.

It is often said that it is entirely the fault of the feckless borrowers who have borrowed all that money they should have had more sense not to borrow. That people have only themselves to blame for loading on more and more debt which became unsustainable and increasingly impossible to cope with.

But it was the banks who deliberately set about attempting to entice the gullible consumers into increasing amounts of debt in the first place because the banks wanted a larger and larger share of people’s earnings to be paid to the banks in the form of interest. This could only be done if the banks were able to lend ever larger and larger quantities of money to the hapless consumer.

Consumers have always been known to be gullible people, easily conned and manipulated into doing what marketing men want them to do. ‘Hidden Persuaders’ some marketing people like to describe themselves as.

The banks always had plenty of money to buy the best ‘Hidden Persuaders’ to manipulate people into borrowing more and more money, effectively conning them into becoming slaves to paying the banks larger and larger amounts of their earnings as they became engulfed in the suffocating grip of the money men’s avarice with the ‘Hidden Persuaders’ peddling false promises and unrealistic dreams – as well as downright lies.

The banks make money out of loading debt onto people. So the more debt the banks can force onto people the more money the banks make. And that is exactly what had happened. Banks deliberately set out to persuade people it was a good idea to borrow money to make every purchase in life, however large or small.

Consumers didn’t seem to realise this meant they would pay two or three times the normal cost of any item they borrowed money to purchase. They also didn’t seem to realise they were borrowing money to buy nearly everything which would normally be bought without borrowing.

So people soon became used to borrowing money on credit cards to pay for their monthly domestic expenditure which would then attract interest to be paid to the bank. Then the monthly pay cheque would appear and it would be used to pay off the credit card loan ready for borrowing the next month’s pay.

The banks just smirked condescendingly as they discovered how easy it was to delude almost the entire population into the fantasy world of endlessly borrowing money for every purpose, no matter how plainly ridiculous and pointless it was.

The banks lured them in, bit by bit, using every sly trick in the book to turn reality on its head to brainwash people into thinking this was the normal, right way of dealing with money and domestic finances.

Unfortunately, it is quite easy to brainwash people and the banks took a very unfair advantage of people because of that. So, it is the banks who are entirely responsible for the financial fiasco of the collapse of the entire Global economy, because they led it; they deliberately engineered the system they created themselves.

The banks are quite quite devoid of any hint of civilised decency and morality. They are clearly , manipulative, grasping, greedy, dishonest and corrupt. And now we are all paying the price for it.

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