Banks.

[Frankincense]

Yeah, Bankers have always calculated who should remain employed and who shouldn't based on benefits....also for how long would a depression (mass unemployment) benefit them if sustained....If Bankers decide to drop a specific bank to it's knees, then shame, the staff are jobless....but at least they get to buy the bank and take it over at a song...this has been done so often....business as usual for bankers...human capital and job security are variables one plays with to maximise control and profit....

[tec0]

I think you might have misunderstood my post. What I was pointing at is the fact that some people do try and keep their payments up but despite their efforts the banks still decide “take” the property and sell it at a massif loss. Now once the property is sold at a loss the bank will still keep the person whose property was taken and sold liable for the “outstanding amount” So not only did the person lose their property they still owe the bank money.

Now let’s say that this piece of property is a car. Now with the car the person was still able to pay back “an amount of money” but without it, this person can no longer work thus “no money” for the bank and a los for both the bank and the person involved.

Now if the bank acted responsibly and “negotiated” payments and allow the person to keep the car then that person would be able to work and pay them back. Thus the bank “don’t lose money” where as “flogging at auction” they only get 15% to 30% of its actual value.

But in all honesty I don’t just blame the banks for our problems. Fact is if we had proper public transport most people will not need a car to get to and from work. I think our government can ease up on the car manufacturers and the car manufactures can drop their prices by 15% to 20% on “entry-level cars” Thus affordability becomes a reality once more.

[Frankincense]

On the contrary, totally understood your post. Just wanted to fast forward it a bit....

"Now if the bank acted responsibly and ...blah blah blah"

Bankers have never been responsable. We should all by now be familiar with the History of Banking, and thus understand these basic realities in order to move on.

It's great to see people suggesting things they believe would make the world a better place, and what Bankers should do....but a Leopard never changes it's spots, until it's skinned....

"But in all honesty I don’t just blame the banks for our problems."
I don't blame the Banks either, after all, they're just buildings filled with thousands of ant people doing what they're told....I blame the international Bankers who own the Banks, Car manufacturing firms, most of the developing World Governments from the IMF loans they issued, most of the Weapons manufacturers, Petroleum companies....and the list is endless...thier plans suck, but will be rolled out.

Can't wait to see this Leopard skinned alive!

[tec0]

Well then maybe it is time to see we can work around banks. Impossible right... wrong, see before investments groups like Old-Mutual the banks was the only way to invest money. But with investment groups like Old-Mutual banks had competition but not for long because these investment groups are now basically just an extension of the banks.

However it was possible for groups like Old-Mutual to form and actually be competitive... Thus this shows you that it is possible to create your own investment group that can act as a “private” banking system. This “investment group” can then grow stronger because by negotiations you can manipulate other small companies to join the group and then benefit from a guaranteed clientele. In return they invest in the “group” and make use of their services.

It will take some doing and a hell of a lot of money but it is not impossible and best of all your wealth is yours again... Cut the bank out of the loop and they will crash. Just a bit of useless info have a look at how Netbank was formed...

[sgafc]

Investing with Banks

Turning to investing with banks... Saving, be it investments such as Fixed Deposits, call accounts/32day Notice Accounts, used to be encouraged by myself. But I see many clients complaining about their returns/interest.

Remember the yardstick we all used for the sustainabilty of investing/opening a business, ie" If the profits are less than the interest rate yield of a bank, I will rather invest my money with a bank". Guess what, despite the recession many(apart from the struggling ones)businesses returns today, are higher than the returns of bank accounts.

32day Accounts, yield low returns. Saving accounts, interest on credit balances have evaporated, and in some cases can be as low as 1c.Ever calculated the "charges" and admin fees on banks investment products? Ever lost sums in an investment account, due to the bank transferring it to another overdrawn account, held at the same bank.(without your consent)

1. All banks provide bad service, in return for high bank charges.
2. In todays climate, they rarely finance business, provide loans, and if they do interest and charges are excessive.
3. They cannot pay us a decent return on our investments.

Face it, bank accounts is just a convenient conduit, for our salaries, income and expenses. Thats what we should use banks for.

For financing and investing,other alternatives needs to be explored urgently.

[tec0]

Well I always thought that if you look at the total income of a bank on any given day that, that amount would suffice. Not so? Take into perspective that the bank is taking R1 from every client at any given transaction. Now that is a lot of money on its own, but I am sure that the bank invests that money in hopes to make more...

If the banks say they have to pay their "staff" it is a lie. Go into any bank and you will find that they are operating on half the staff or there is simply not enough staff to process the clients or their needs.

Now underperforming investments, is it just a bad investment or is the bank that is just taking too much in the from of charges? Considering the money that IS being generated trough there “ease of access” why can’t investments be more rewarding...

Fact is all of us must look at investments in the form of life-cover, insurance and the most important of all funds; the retirement funds. We all need these “investments” but the banks are taking from these “investments” in the name of “services” but again what service?

Now the second problem is “independent” investment groups, we are all scared of them because they might be a “here today but gone tomorrow scenario” so do we use banks because of low risk or do we use banks for “ease of access”. Face it we are paying for the “low” risk factor...

[Frankincense]

...Banks are there to facilitate all your "buying and selling"...or in modern terms "transactions"....

...Investment Houses (although Banks offer this too)...are for Investing

... you need a bank account to do the transfer to the investment account anyways...

so....

..odd how some think you can have the one without the other, isn't it...some may call that folly in this time.....

"Well then maybe it is time to see we can work around banks. Impossible right... wrong"

No man shall work around a bank in order to obtain money through investment wealth, as the very lubricant to keep the debits & credits of all investments are Transactional Bank founded...sorry guys....

666 time....

As mentioned - Total Tetragrammaton exile is all that will do, and that certainly does not include generating vasts amount of investment wealth by attempting to bypass the facilitator...

[tec0]

So in the end we are dependant of banks... Still, consider that SARS can now basically access your bank and do checks and stuff to make sure you paid “THEM” a lot of people “not necessary dishonest people” are looking at other ways to do business on a “cash only” bases to avoid bank charges “mostly” also I know that “certified legal diamonds” is a popular investment choice.

In the end we must also consider “system abuse” by those who have access to your funds. IT is scary to know that someone you don’t know “CAN” view your bank details....

[wynn]

And never get them to draw up, execute and administer your will for you.
They are only interested in what you may owe them and how much commission they can earn from administering your estate, if you die they will see that they get their money first then they worry about your widow and kids.
They will be quite happy to lend your widow your money and charge her interest on it for the short term, but only if they see that their is plenty to go around.
If you leave a rather large estate, they will administer it to the hilt before winding it all up.

[Dave A]

My basic strategy is to have the bank attend to my banking and asset financing needs - and all the other stuff goes elsewhere.

It doesn't stop them from trying to upsell me fairly reguarly, but all it takes is a clear "no thanks."

[tec0]

The problem is when you look at banks in general, they want you to think they are “reasonable” and if you look at the advertisements on television the image they are selling shows smiling happy faces and all is well with the world.

In all, I want to unmask the “happy smiley face” and show all, who and what banks really are. They are mechanical in nature and have a calculator for a soul. See the point of this exercise is I want people to question why it is that banks get almost “double” their money back with home loans and all that, I want people to ask why must I buy a new car if the bank is owning it in the end of the day.

I want to see people planning their budgets without overdrafts, credit-cards and personal loans. See to invest in your own financial future is to plain around structures and find new ways to invest in sound solutions other then banks...

Banks will only treat us with respect and fairness if we show them that we can work around them otherwise you will get what you get now: Bad service, poor investment growth, impossible to pay back home loans and massif banking fees”

[daveob]

the advertisements on television the image they are selling shows smiling happy faces and all is well with the world.

Lately I have noticed all the alcohol advertising on TV is showing happy, smiling alert people enjoying the product - this is SO unrealistic - where's the droopy eyes, slurred speech, 'him' all over 'her' like a bulldog drooling over the porridge, the cheap pickup lines, and a host of other effects of the product ?

I suppose they're selling the desire for happiness, not truth - just like the bank ads.

[tec0]

Yes, advertisements don’t get me started on that! You know the one where with “the helicopter” rescue and then they flash faces of children and then “the flat-line” I hate that damn advert! It is worse than black mail because “your children will die if you don’t use them!!!!!!!!!” IT just pisses off so badly because it is NOT dealing with reality it is benefiting from a crippled health care system. It is disgusting and wrong. I am actually considering seeing a psychiatrist because I freak out when I see that advertisement. I just can’t handle it!

Also as for banks why not show and advertisement of mom and dad being kicked out of their homes and their cars being taken and families being torn apart!

[Dave A]

Yes, advertisements don’t get me started on that! You know the one where with “the helicopter” rescue and then they flash faces of children and then “the flat-line” I hate that damn advert! It is worse than black mail because “your children will die if you don’t use them!!!!!!!!!”

Because selling on people's fears work

Also as for banks why not show and advertisement of mom and dad being kicked out of their homes and their cars being taken and families being torn apart!

Except it's not a good idea in this case.

[tec0]

Eventually people will wise up and banks will have to reconsider their attitude towards their customers. The tables will turn jobs will be crated and the economy will stabilise “hopefully before the end of the word on 2012” What then? Will you still want to use a bank that have blacklisted thousands of people? Will you still use a bank that took your home or car? NO...

Truth is, Banks did indeed damage their own image and hopefully they will pay the price. Still with Eskom’s evil plans to push the power price up by 45% may hinder critical industrial growth and then there is the question of our agricultural stability and ability to sustain... Land value is at a premium and yet our farmers are fighting a losing battle with both governments and banks.

Ask yourself this important question: Why is there no plans of a massif water treatment facility to purify enough sea water for agricultural use? We see the government actively “reallocating farming recourses but they are doing little for sustainability.

As for the banks, how is this effecting cash-flow, when it is impossible to finance farmland privately?