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State banking
State banking
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Ronnie the idea of the State bank is to ensure transparency in finances, stop any more theft by private banks and all profits ploughed back into the State to benefit us all rich or poor Not just the benefit to the revenue in ability to collect taxes but also prevention of benefit fraud.
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What is the benefit of private banks in all your humble opinions?
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I'd have universal benefit too, an amount that is just about enough to live on given to every citizen once they are 16, paid from the state bank directly to each citizens state bank account to be used as they wish. Anything extra has to be worked for.
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And as far as mortgages are concerned obviously the state bank would never be giving mortgages which are not linked to wages , 3 times the annual wage it used to be I think ,seems about right. No chance of mortage fraud when all finances are transparent either.
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Not just the benefit to the revenue in ability to collect taxes but also prevention of benefit fraud.
thats a change of tack, and an even more bizarre one. well benefit fraud is even less connected to the bank it gets paid into. benefit fraud arises from people that play golf pretending they are disabled, and people inventing kids, or pretending they dont live with a partner, or working in the market getting cash on their Reggae CD stand and getting their giros in the week. it has very little with the Nationwide Building Society continuing. |
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And as far as mortgages are concerned obviously the state bank would never be giving mortgages which are not linked to wages , 3 times the annual wage it used to be I think
that is a totally new reason as well. if you wanted to do that ,why not pass a law to ensure UK registered banks didnt do that, and still give the customer all the options of where to bank, so at least there is market pressure on interest rates, service levels etc? why does it only need the one bank? the one bank was based on tracking money i thought. |
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a state bank would have even less reason to be careful who to lend to and what levels, because the clients are their voters.
being scared to tell certain voters they made bad decisions is PRECISELY why they have bailed them out with low interest rates and subsidies. politicians have been used to giving the people what they WANT and arent willing to pay for, which is why we have these deficits. the MARKET provides better protection against irresponsible lending, because the MARKET would let the failed lenders lose. and go bankrupt. it is the BAILOUT that was wrong, done by the STATE BANK that exists, the BofE. |
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What are you on about 'totally new reason' 'change of tack', I've been consistent throughout with the notion that compulsory state banking would benefit our society . There are many reasons why it would benefit us some of which I've mentioned here I'm sure others can come up with even more. What's the advantage/s of private banking?
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I thought a lot of benefit fraud was people making multiple housing benefit claims for example, something which would be impossible if all finances were open. I understand the rigght on here are much more concerned about people who claim while working for a pittance cash in hand but I don't think their envy is justified by the amount that actually costs the tax payer.
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Ronnie do you think Doctors who work in the NHS are making clinical decisions based on party politics?
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Because the market will regulate it. If there are no bailouts. A state bank would be accountable only the politicians.
Oh, and despite the 2008 debacle, long term it's still our best industry and the tax revenue pays for many services. |
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And as for your last point surely prevention is better than cure, the banks have proved themselves incompetent greedy and reckless with other people's money , it's time they all lost their banking licences .
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What's the advantage/s of private banking
a wide range of choice of service, all benefitting from competition to make the most attractive offering to the customer. UK banking is largely fee free, and some even pay you to deposit money. if you want to invest money, they compete to offer the best rate. if you want to borrow money, they compete to offer the best rate. 99.9% of people need to save and borrow at different times, or the same time for different reasons. many companies exist, the market grows and makes profits which go to the exchequer. so important are they to the exchequer, the exchequer does what it can to support them. they are free to compete for overseas business, a state monopoly would be banned from competing overseas, certainly the EU, and North America would want nothing to do with a State Monopoly entering their territory. all the positives for the trade balance, one of the last great positive industries in the trade balance of the UK would be LOST, losing far more. what would it do to benefit having a state bank? it would not make tax hidden in switzerland or under the mattress appear, it would not make someone playing golf on disability go honest, or mean Tracy admitted living with Kevin, and it certainly would not benefit the customer. |
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"Java how much of the banks assets are mortgages on ridiculously over priced property?"
This is the reason a sound bank asks for a deposit from the buyer. If the house price crashes and the borrower can't pay the asset will be sold and they should get their money back. If banks aren't asking for deposits then they will be in trouble and the free market will punish them. As is what happened in 2008 untill they all were given a free option by Governments. |
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Are China banned from competing overseas then? I didn't know that.
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Ronnie do you think Doctors who work in the NHS are making clinical decisions based on party politics?
no. a state monopoly bank would not make errors based on party politics. it would offer worse deals through no competition. doctors are trained professionals treated to save people. bankers are not so trained, or have such clear motives, but they are necessary to an economy. |
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Are China banned from competing overseas then? I didn't know that.
they were when they were running a state monopoly, yes. you are aware they looked at free market Hong Kong, gasped, lost their communist minds and started trading, hence the boom? |
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do you think the State Monopoly Bank of UK would be welcome in New York or Paris? do you know EU law, and how the New York financial system works?
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UK benefits so much in export/import balance via financial services.
it has lost a lot sh"tting all over its manufacturing, to do the same to financial services, in the belief that Nationwide is hiding tax money, not Bermuda, Switzerland, is very very silly. |
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"Hello we are the Kremlin Bank circa 1970, the Mao Bank circa 1980, and the MarieLouise UK bank circa 2013, can we trade in New York, Frankfurt and Paris".
"No, f""k off". BP wouldnt be drilling in the Gulf, Alaska, making most of its money for Britain stateside if it was a state run monopoly, as it was in 1970. Congress might say something. and any stench of Chinese State drilling gets told the same. i promise you. if you want to fill Croydon up with disenfranchised voters on 20p an hour to sell us plastic tat we might talk. maybe some of you would prefer to be smuggled to yankee to pick cockles rather than deal with that shyte though. |
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would one have to have the'right' political attitude to get de loan from de state bank
would you have to have de certifucate of political correctness |
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people would be k"kking themselves around end of Jan to see if they collect the right tax.
heard NIGHTMARE stories of all the brits getting wrong calculations and Mary wants HMRC to OWN the only bank you can bank with. LEgally. it is beyond belief horrific. i have tried my best, but she still thinks nobody has told her a reason why its bad.  |
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does the ML believeing in all de tenets of de communist manifesto
viz- http://www.criminalgovernment.com/docs/planks.html am i guessing that miss ML plans would quite a bit authoritarian be super |
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Russia had a State Bank monopoly. The queues to get the money out were longer than the ones for bread.
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would you have to sign de paper miss ML say you believe in de man made global warming
to getting de loan stamped ok |
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And in this state controlled scenario, whither comes innovation?
And in the drive to prevent fraud, why is it that when the state control the benefit system, they don't have automation that flags up when the same bank account appears on 3 or more tax credit claims. Or that someone can work for a LA care home and claim DWP benefits on the grounds of incapacity at the same time, paid to the same account, until such time a member of the public shops them. |
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Innovation as practised by the private bankers in the last few decades we can do without. The State Investment Bank will provide all the banking 'innovation' we need. If only Labour had got in in the 80s , a State Investment bank was in their manifestos you know. No wonder the bankers press crucifed them.
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