Originally Posted by Papewaio:
In general your savings is being invested by the bank. That is why they pay rental ie interest on the savings parked there. Not only that, most banks can loan out a multiplier of the amount of savings that are held within their savings accounts.
So money saved in the bank is actually invested multiple times. This becomes an issue when everyone tries and gets their savings at the same time as the money is on assignment at other places and is being leveraged on top of that.
I know, but the banks are obviously not investing it well and waste it all or they wouldn't be in trouble.
People should take up personal responsibility and invest the money themselves, not only do they get more than 1 or 2% return then (which is funny if you have 2% inflation....), they would also fulfill their civic duty of personal responsibility and shaping the market. The lazyness of paying the bank to decide on investments is backfiring as we see now.
Originally Posted by Fragony:
You know they will, the EU wanting an army just got scarier no
No.
Originally Posted by Fragony:
Surprise surprise, vending machines are locked down, nobody has acces to their money despite it being their own money. The unelected international-socialists will never give up, the political union muss sein
Yes, that's absolutely correct, the socialist banks will never give up their schemes of making bad investments, paying high bonuses and then socializing their losses among all the socialist fiscally conservative money savers. And to think that their owners are unelected just adds insult to injury.
Mock it all you want, you must be reading quality media
@
Husar , it's a question of trust. In Belgium (as in the rest of the EU if I'm not mistaken), the state guarantuees money in a savings account up to an amount of 100.000,00 €. So, if the bank falls, 100.000,00 € of the money you had with that bank is safe.
This gives people a (probably virtual/fake, but still) feeling of a savings account being, well, save. Just taking 6,75 % (below 100.000,00 € in savings) or 9,9 % (over 100.000,00 € in savings), like Cyrpus does now, is a serious breach of trust. What was promised yesterday is now being violated and the Cypriotic people didn't even get a chance to make adjustments, like investing in something else.
Also, who are you to tell people what they should do with their money? It's money they earned and where they already payed taxes on. You don't have anything to say about it; nanny state doesn't need to tell me what I should with my money. Besides, our governments, with their huge deficits, are not very well placed to give me financial advice. I'm not the one swimming in debt, the government should perhaps take lessons from me instead of me from them.
The 100.000,00 € treshold is too low. Sure, for a young guy like you, 100.000,00 € seems like a lot of money. But look at it from somebody aged 60, close to his retirement. We have a grey population. You can no longer count on the government to ensure you a reasonable living standard once you retired (allthough they should, the bloody bastards, given the insane amounts I pay every month on social security), so you'll need savings of your own. The man who worked his butt off every day for 40 years is now being robbed of 9,9 % of the money he saved; money he counted on to be able to maintain his living standard after his retirement. It's money he
needs and that he has only because he lived under his means for 40 years. It's his reward, for being careful. And now you take away 10 % off it? It's a disgrace.
Money must roll? Don't keep it at a savings account? Pump it into the economy? Isn't it my god given right to do with my own money (what's left after paying crazy amounts of taxes, so I already fullfilled my duty to society, thank you very much) whatever the hell I want? Besides, it is my intention to pump it into the economy. After my retirement. Because I'll have to since the government, malgré me paying plenty of social security, can't ensure me a decent living standard after retirement.
First they tell you to put your money in a savings account where it's save and then they rob 10 % of it. Just like that. What message does that send to the European population? I'll tell you. The message is: "transfer your money to banks outside the EU, because you can't trust us."
The risk with this sort of decision is a serious capital drain for the entire EU. Or is the next step a 90 % tax for transferring money to a bank account outside the EU?
They're playing with fire.
Originally Posted by Husar:
I know, but the banks are obviously not investing it well and waste it all or they wouldn't be in trouble.
People should take up personal responsibility and invest the money themselves, not only do they get more than 1 or 2% return then (which is funny if you have 2% inflation....), they would also fulfill their civic duty of personal responsibility and shaping the market. The lazyness of paying the bank to decide on investments is backfiring as we see now.
We count on our governments to make sure banks become more trustworthy again. Instead, banks and governments work together to rob us even more. How long do you think you can get away with that? How long before you'll see normally decent, working people raising kids, coming out on the streets demanding justice? Do you expect people will stay cool and rational if you just rob them off their money?
As we speak,
millions of Europeans require food aid. Food distribution by the Red Cross in Europe is at its' highest level since the end of World War II.
People who are starving and are getting robbed by their own governments won't stay calm and rational for long. When you're hungry and being robbed, you no longer care about whose fault it is. You turn into a creature that lusts for blood. Hunger is food for war.
They're dumb teenagers playing with fire.
Originally Posted by Husar:
Yes, that's absolutely correct, the socialist banks will never give up their schemes of making bad investments, paying high bonuses and then socializing their losses among all the socialist fiscally conservative money savers. And to think that their owners are unelected just adds insult to injury.
That's indeed absolutely correct and exactly what is happening now, saying and writing March 18th 2013.
What a strange concept - that the state might guarantee your money!
Andres is fundamentally right - for the last half decade we've all watched our incomes and opportunities decrease, now the EU actually wants to actively steal the money we've already paid taxes on?
I'm not sure if this is Nazi Germany or Orwell's 1984.
Greyblades 12:18 03-18-2013
Well... crap. Why do we have a party to leave the union and not one to get the guys who are running the European union replaced for incompetence
gaelic cowboy 13:31 03-18-2013
Originally Posted by Philipvs Vallindervs Calicvla:
What a strange concept - that the state might guarantee your money!
it's not strange if you want to have a banking system with a
good velocity of money
Originally Posted by :
Andres is fundamentally right - for the last half decade we've all watched our incomes and opportunities decrease, now the EU actually wants to actively steal the money we've already paid taxes on?
I'm not sure if this is Nazi Germany or Orwell's 1984.
this actually undermines trust in banking and encourages people to withdraw all deposits, it's crazy stuff at a time they need cypriots to SAVE money.
Therefore I say it's Orwellian
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