What would life be like without banks?

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By Vegas
14 Jun 2022 11:32 am in No Holds Barred Political Forum
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Vegas
14 Jun 2022 11:32 am
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This is a complicated question because each person has their own lifestyle. Therefore, generalizing is the only way to answer this. On one hand, most of America needs banks to buy homes and cars.  The average American cannot pull out 400k at any time from his wallet and buy a house or a car. We depend on banks to put us in debt, so we can live somewhere and have a means to get to work...so we can continue to live somewhere. Most Americans cannot survive unless a bank puts them in debt. At the same time, that is a **** life. That is hardly freedom. I am not sure how we can say we live in a 'free country' if we are under the rule of institutions that determines our future.  What if there were no banks? It's a hypothetical question that I would love to entertain. Would most of America be homeless with no cars to get to work? In the beginning, of course life would be hell. However, as time goes on, in the long run, would things work itself out, thereby resulting in a better life?
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JohnEdgarSlowHorses » Today, 7:28 pm » wrote: ↑Today, 7:28 pm
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Monderegal
14 Jun 2022 11:55 am
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I think you are talking about a cycle of money. Just about every business borrows to fund their initial operations. With modern banking laws, you even have the opportunity to fail given bankruptcy proceedings. They used to throw you into prison if you couldn't pay your debts. Look at the Bastille in France. An angry mob stormed the prison for those who couldn't pay their debts. That sparked the French Revolution and is commemorated as Bastille Day in France.
Therefore there is the argument that business would be a much harder thing to come by if entrepreneurs couldn't borrow funds to start their operations. You also couldn't probably afford a house unless you already had a lot of wealth. Also, investing and having a 401k to begin with would also probably be impossible without investment banks. Stocks and bonds are wealth creating instruments for buyers and wealth producing for the companies that need them to fund new projects and grow as a company.
The need to go back in time is probably the answer to your question. The economy depends on something called the present value of money where a dollar today is worth less than a dollar in the future. The economy needs those future dollars and there are ways to be in the positive with investments than be in the negative with debt instruments like credit cards. It's not wise to spend more than you make and invest what you set aside. That can make banks useful for you instead of against you. I always thought they should teach this financial literacy in high school instead of supply and demand economics.
Nothing is easier than defending the status quo.
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FOS
14 Jun 2022 11:59 am
FOS
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Vegas » 14 Jun 2022, 11:32 am » wrote: This is a complicated question because each person has their own lifestyle. Therefore, generalizing is the only way to answer this. On one hand, most of America needs banks to buy homes and cars.  The average American cannot pull out 400k at any time from his wallet and buy a house or a car. We depend on banks to put us in debt, so we can live somewhere and have a means to get to work...so we can continue to live somewhere. Most Americans cannot survive unless a bank puts them in debt. At the same time, that is a **** life. That is hardly freedom. I am not sure how we can say we live in a 'free country' if we are under the rule of institutions that determines our future.  What if there were no banks? It's a hypothetical question that I would love to entertain. Would most of America be homeless with no cars to get to work? In the beginning, of course life would be hell. However, as time goes on, in the long run, would things work itself out, thereby resulting in a better life?

i mean....the gods named usury as a sin and stuff
Vegas
14 Jun 2022 12:05 pm
Giant Slayer
14,538 posts
Monderegal » 14 Jun 2022, 11:55 am » wrote: I think you are talking about a cycle of money. Just about every business borrows to fund their initial operations. With modern banking laws, you even have the opportunity to fail given bankruptcy proceedings. They used to throw you into prison if you couldn't pay your debts. Look at the Bastille in France. An angry mob stormed the prison for those who couldn't pay their debts. That sparked the French Revolution and is commemorated as Bastille Day in France.
Therefore there is the argument that business would be a much harder thing to come by if entrepreneurs couldn't borrow funds to start their operations. You also couldn't probably afford a house unless you already had a lot of wealth. Also, investing and having a 401k to begin with would also probably be impossible without investment banks. Stocks and bonds are wealth creating instruments for buyers and wealth producing for the companies that need them to fund new projects and grow as a company.
The need to go back in time is probably the answer to your question. The economy depends on something called the present value of money where a dollar today is worth less than a dollar in the future. The economy needs those future dollars and there are ways to be in the positive with investments than be in the negative with debt instruments like credit cards. It's not wise to spend more than you make and invest what you set aside. That can make banks useful for you instead of against you. I always thought they should teach this financial literacy in high school instead of supply and demand economics.

Good post. I think it's fascinating that humans cannot survive, or at least survive relatively comfortably, unless we are enslaved in debt. It's an odd paradox. Humans need shelter, food, and other basics for survival. Having these basic survival needs lead to a sustained existence, but only if they are in debt to it. 
Retarded Horse's view on women.

JohnEdgarSlowHorses » Today, 7:28 pm » wrote: ↑Today, 7:28 pm
  • I LOVE IT WHEN A CRACK WHORE GETS BEAT UP Image
  • I WANT TO WATCH YOU BEAT YOUR CRACK WHORE WIFE Image Image Image
  • PUT THAT WIFE BEATER ON AND GET BUSY
viewtopic.php?f=3&t=90783&p=2628993#p2628993
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Monderegal
14 Jun 2022 12:08 pm
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FOS » 14 Jun 2022, 11:59 am » wrote: i mean....the gods named usury as a sin and stuff

I think even the Quran speaks out against it.
Nothing is easier than defending the status quo.
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FOS
14 Jun 2022 12:10 pm
FOS
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Monderegal » 14 Jun 2022, 12:08 pm » wrote: I think even the Quran speaks out against it.

basically everyone who doesnt like jews.
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DeplorablePatriot
14 Jun 2022 12:10 pm
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The question is far too complex for me to answer.
What I can tell you is that it pisses me off that the teller always asks me what I plan to do with my cash when I make large cash withdrawals. It's none of their **** business.
What I can also tell you is that I love my credit card. It makes a great bookkeeper, and always makes me money. I NEVER pay interest on anything.
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*GHETTO BLASTER
14 Jun 2022 12:15 pm
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During my life I have bought 3 things on credit.
A house that I sold a year later for a slight profit.
2 cars [2nd owner] that I paid off within a year by working as much OT as I could get.
Ever since I only buy things out of pocket.
I used to use banks when they paid 5% for CDs.
I keep a small account open just to pay bills with.
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*GHETTO BLASTER
14 Jun 2022 12:20 pm
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Vegas » 14 Jun 2022, 11:32 am » wrote: This is a complicated question because each person has their own lifestyle. Therefore, generalizing is the only way to answer this. On one hand, most of America needs banks to buy homes and cars.  The average American cannot pull out 400k at any time from his wallet and buy a house or a car. We depend on banks to put us in debt, so we can live somewhere and have a means to get to work...so we can continue to live somewhere. Most Americans cannot survive unless a bank puts them in debt. At the same time, that is a **** life. That is hardly freedom. I am not sure how we can say we live in a 'free country' if we are under the rule of institutions that determines our future.  What if there were no banks? It's a hypothetical question that I would love to entertain. Would most of America be homeless with no cars to get to work? In the beginning, of course life would be hell. However, as time goes on, in the long run, would things work itself out, thereby resulting in a better life?
Some people live on dilapidated property that costs next to nothing and make gradual improvements out of pocket. Their lives are like living a 20 year long camping trip where they might even have to shower at where they work during the week for a living. 
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DeplorablePatriot
14 Jun 2022 12:24 pm
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GHETTOBLASTER » 14 Jun 2022, 12:15 pm » wrote: During my life I have bought 3 things on credit.
A house that I sold a year later for a slight profit.
2 cars [2nd owner] that I paid off within a year by working as much OT as I could get.
Ever since I only buy things out of pocket.
I used to use banks when they paid 5% for CDs.
I keep a small account open just to pay bills with.

When I was younger and dumber, I used credit and paid interest more than I should have. Did the mortgage thing a few times also.  But now, I'm only paying liberals annually to destroy this country.  :evil:  
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31st Arrival
14 Jun 2022 12:27 pm
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Vegas » 14 Jun 2022, 11:32 am » wrote: This is a complicated question because each person has their own lifestyle. Therefore, generalizing is the only way to answer this. On one hand, most of America needs banks to buy homes and cars.  The average American cannot pull out 400k at any time from his wallet and buy a house or a car. We depend on banks to put us in debt, so we can live somewhere and have a means to get to work...so we can continue to live somewhere. Most Americans cannot survive unless a bank puts them in debt. At the same time, that is a **** life. That is hardly freedom. I am not sure how we can say we live in a 'free country' if we are under the rule of institutions that determines our future.  What if there were no banks? It's a hypothetical question that I would love to entertain. Would most of America be homeless with no cars to get to work? In the beginning, of course life would be hell. However, as time goes on, in the long run, would things work itself out, thereby resulting in a better life?
what would life be like without human beings of type cast character mentalities? Just a planet filled with homo sapien ancestries not pretending life is more than evolving here now leaving next generations inheriting denial, mayhem, madness, misery because nobody can define actual balance.
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DeplorablePatriot
14 Jun 2022 12:29 pm
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FOS » 14 Jun 2022, 12:10 pm » wrote: basically everyone who doesnt like jews.

Isn't that everyone but jews?
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FOS
14 Jun 2022 12:32 pm
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DeplorablePatriot » 14 Jun 2022, 12:29 pm » wrote: Isn't that everyone but jews?

basically. 

i dont know of aboriginal jewish confilct.

but everyone else. 

basically. sure.
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31st Arrival
14 Jun 2022 12:33 pm
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DeplorablePatriot » 14 Jun 2022, 12:29 pm » wrote: Isn't that everyone but jews?
the irony about banking is persons embezzle other people's time with money, and everyone's time is wasted making money living at pretending real isn't real life but a staged reality.

anyone that doesn't follow gets eliminated and when everyone finds out it was all make believe nobody knows how to live without denying the self evident.
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31st Arrival
14 Jun 2022 12:50 pm
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Here is an honest post minus my usual sarcasm.

Banks are a social necessity and the problem with them isn't their design, it is how they become used against the general population they were supposed to serve a social function in commerce..
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sooted up Cyndi
14 Jun 2022 1:17 pm
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Water Cooler Poleece
Water Cooler Poleece
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GHETTOBLASTER » 14 Jun 2022, 12:15 pm » wrote: During my life I have bought 3 things on credit.
A house that I sold a year later for a slight profit.
2 cars [2nd owner] that I paid off within a year by working as much OT as I could get.
Ever since I only buy things out of pocket.
I used to use banks when they paid 5% for CDs.
I keep a small account open just to pay bills with.
Would you like to here something shocking about me? I have never EVER had a credit card! and I am NOT rich by any means.

The only thing i ever used a bank for was paying bills. Like electric-internet etc. i like to fly under the radar.

ooo oops..
once I had a small car loan.  i bought a fairly new pontiac Sunbird
it took me 5 years to pay it off. at 170 a month and the loan was NOT that much!
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*GHETTO BLASTER
14 Jun 2022 1:22 pm
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sootedupCyndi » 14 Jun 2022, 1:17 pm » wrote: Would you like to here something shocking about me? I have never EVER had a credit card! and I am NOT rich by any means.

The only thing i ever used a bank for was paying bills. Like electric-internet etc. i like to fly under the radar.

ooo oops..
once I had a small car loan.  i bought a fairly new pontiac Sunbird
it took me 5 years to pay it off. at 170 a month and the loan was NOT that much!
That's the way to be..!
Many years ago..[maybe more than 20 years ago] I heard that the average household in the USA has $15,000 of credit card debt and the least amount of equity in home loans than any other generation.
I wonder what those numbers are now...?
 
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FOS
14 Jun 2022 1:28 pm
FOS
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sootedupCyndi » 14 Jun 2022, 1:17 pm » wrote: Would you like to here something shocking about me? I have never EVER had a credit card! and I am NOT rich by any means.

The only thing i ever used a bank for was paying bills. Like electric-internet etc. i like to fly under the radar.

ooo oops..
once I had a small car loan.  i bought a fairly new pontiac Sunbird
it took me 5 years to pay it off. at 170 a month and the loan was NOT that much!

https://www.youtube.com/watch?v=XfR9iY5y94s
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sooted up Cyndi
14 Jun 2022 1:29 pm
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Water Cooler Poleece
Water Cooler Poleece
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GHETTOBLASTER » 14 Jun 2022, 1:22 pm » wrote: That's the way to be..!
Many years ago..[maybe more than 20 years ago] I heard that the average household in the USA has $15,000 of credit card debt and the least amount of equity in home loans than any other generation.
I wonder what those numbers are now...?
bwahahaha.. we are all poor up here.. so we live by our wits.
My drinking buddy sat across the table a few months ago.. His eyes as wide as saucers.. and said.. MY gawd Cyndi.. how in the hell have you ever survived. :die:   :die:
 lady luck?  But to be honest.. I am running out of hair brained schemes.. these are horrid times now.. i may have met my match.
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