Friday, June 3, 2011

Banking article from Reuters

article Rachel Maddow . tweet . @maddow .
Elizabeth Warren, it’s not you they hate. It’s what you represent. You want to be an honest cop when so many before you in Washington have looked the other way and pretended that the banking industry could police itself.

Banking -- or "the banking industry" -- is not an honest device. Close off all your theories and assumption. Just look at banking. Open your mind and just look at this institution, or this industry of ours.

Maybe you can read a few articles. Keep an open mind. Go back to just observing bankers and wondering what they do.

Read Keynes's book on monetary policy (A Tract on Monetary Reform).

OK, just read the first two pages, like I did.

Look at banks again.

Think for yourself. Weigh all sides of the argument. It is not really that hard. There cannot be an "honest cop" in banking because that is not the nature of the beast. Banking is scam. This is what banks do. I don't know if the bankers believe it themselves --- Well, I am sure they do.

But, if they reflect a bit, they would have to admit: what they believe in is their own scam. There is no sense or foundation to banking. It is like an onion: if you peel off every layer, you get down to nothing. There is no honest layer.

What bankers do is: "lend" money. How can you lend money? What you are "lending" is the right to use money. Who is a bank to award a person the "right" to use money? You cannot combine the word "lend" and the word "money."

If you put an "honest broker" into banking, from the side of the consumer (the word "consumer" is right there in Warren's title), that person would just uncover scam after scam after scam. Because, that is all banking is.

So many websites are dedicated to showing logically, how the "deceitful" or scamming banker operate. But is there really any explanation? How can one "explain" it if it doesn't make sense?

Now what happens when you try to regulate those at the very top of this banking industry, or industry built on cotton candy---? How could they say, "yes, I am a scammer, always have been"? That does not make sense. Crazy people do not admit to being crazy. They just keep on driving you around in circles.

So what do you do? What's the answer?

Again, you should think for yourself. I am tired now; maybe I will find time to put in a "part two" to this.

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