The Banking System: Put a Stake in it
Posted by The Interest on February 10, 2009
Today is the day where the night before President Obama told us government must do something and now we hear Treasury Secretary Geithner wants to do some kind of public and private plan to fix the banking system while doing some kind of controlled burn.
How can the banking system around the world produce enough to sustain $683,725,000,000,000 in derivatives? (See this pdf from the Bank of International Settlements) How long will we continue to play this game? The First World is now completely bankrupt. There is no more money. The debts can not be paid. The Third World and the First World are the same now, but the First World hasn’t woken up yet.
It is time to stop. Just stop the madness. All debts are in default. Let’s start from scratch. It is time to reboot, reset, take the hangover cure. We the people of the world need to convince the powers that control us to get out of the way. The banks are not too big to fail. We need to take back our destiny and control of our currency and money.
Put a stake in it. The banking system as we know it is done.
The Banking System: Put a Stake in it | Where's The Interest? | abstractinsurance.com said,
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Dennis Kleid said,
Mr. Obama and Treasury Secretary Mr. Gietner.
I suggest that we let the US Government buy into the banks big time then share the profits with the people. Right now capitalizing the banks and getting lots and lots of shares is happening. Today the bank’s stock values are lower than they have ever been. Let Uncle Sam BUY LOW. Grab the banks that are insolvent then add them to the banks that the US owns a high percentage of. Over time the people (Government), could own the banks and share the interest and profits with us (put it back in the treasury), so our kids can be taken out of debt (at least Government debt anyway), and the people that work in banks could keep their jobs. We’ll put a stake in the banking system as it now stands, but the banking infrastructure would be in good hands, ours.
I like the kind of bank shares our government is buying right now. They are preferred shares that pay 5% dividend. I wouldn’t buy the old ones but I’d love to buy into the ones our government is getting. Maybe they could set up a huge mutual fund that we could participate in. In the end the people would own our banks and those terrible bankers would not.
This is the ideal time to do this. This movie needs to be seen by everyone then everyone would agree with us! This little movie by Paul Grignon is absolutely incredible.
http://video.google.com/videoplay?docid=-9050474362583451279
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