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Why Do Banks Make So Much Money

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Why do banks make so much money? Banks are the most heavily subsidied businesses in the world Especially protected by goverments While the money runs out for the rest of us The largest private banks still thrive This is because they get the biggest subsidy of them all The license to print money Hard to believe? Martin Wolf, the chief economics editor of Financial Times said it recently You heard that right : Private banks create money out of nothing Then they loan it to us and ask for interest on top If you've ever wondered why the bank buildings around the world are so higher than any palace or spire ever did, You now have the answer. But the banks don't simply print money using secret printing presses in their basements, They don't have to. Like so many other things these days printing money has now gone digital With the popular use of debit cards, electronic fund transfers and instant bankings, Only 3 percent of the money in the UK is now made of paper and metal coin. The other 97 percent is entirely in computers Electronic money is convenient for everyone But it's especially convenient for the private banks Since they own, run and control the entire digital money system. And what do they do with this special priviledge? Do they channel new money, the blood supply of the nation, towards the things we need, like : Hospitals, schools, Universities and Public transport Not if it doesn't make a profit for them. Instead, they use their license to print money to gamble on financial markets And push house prices out of reach of ordinary people by pumping hundreds of billions of pounds into risky mortages. This is exactly how the banks caused the financial crisis. And now the rest of us are being asked to pay for it. If we can't afford to run hospitals and build schools Can we really afford to subsidies the financial industry? Should we have to live with less so the bankers can have more? This is ludicrous! And it's time to put a STOP to it. The private banks can't be trusted to hold the reins to our entire economy, We need to take away the banks power to create money, This will stop them from causing yet another financial meltdown, And allow us to afford the crucial services that we as a sociey need.

Video Details

Duration: 2 minutes and 51 seconds
Country: United Kingdom
Language: English
Producer: Positive Money UK
Views: 229
Posted by: silentrebel on Aug 8, 2011

This 3 minute video explains how banks have acquired one of the greatest powers in society - and how they used it to destroy the economy...

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