The Destructive Nature of Banks

March 3, 2013 at 12:45 1 comment

When a member of the public gets in trouble with their debt-repayments, they risk losing their home and any other assets bar the clothes on their back. When a small business is unable to repay its loans and debts, it will go out of business sooner rather than later. In fact, many of the established businesses such as Woolworths, HMV and Blockbusters have either gone out of business or are hanging in there by a thread.

However, the rules are completely different for the banking sector. Last week, the Royal Bank of Scotland, which was bailed out in 2008 and is 81% controlled by the British government, announced a loss of £5.17 billion pounds. Much of this loss was based on the corruption that is inherent in the banking sector. There is a game of money-making that takes place between banks called the ‘Libor‘ (London Interbank Offered Rate). Not satisfied with the excessive hyper-profits they already make, the banks lend money to each other which then affects a section of the public population. In 2012, a number of banks, including RBS, UBS and Barclays, were caught trying to fix the Libor rate. The fine for attempting to fix the inter-bank lending rate, Libor, knocked £381m off the bank’s profits.

RBS

RBS has taken a charge of £700m in the year for money it expects to have to pay out to cover mis-selling interest rate swaps. It also took a £450m charge in the last three months of the year to cover mis-selling of Payment Protection Insurance, taking its total provision to £2.2bn. Despite all this, RBS set aside £215m to pay bonuses to its investment bankers.

Why is it so important for our banks to be transparent and in truth? The banking industry has managed to position itself as the most influential segment of the economy on the lives of the masses. There behaviour has a direct effect on our quality of life, local, national and international economics and the future of our planet. The behaviour of the banksters are taking humanity to the point of self-destruction with only a tiny minority having the wherewithal to survive. It is about time the banks were held to account and their puppets, our so-called ‘elected representatives’ (politicians) also need to be held to account for allowing the mass corruption to continue.

Click here to see a video by called ’12 Banks of Death’ from The Truth Seeker on www.RT.com. It will give you more insight into the dangers posed by the banking sector to our species.

Love and gratitude, 

Harun Rabbani

 

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Entry filed under: Economics, Future of Humanity, Global Transformation, Leadership. Tags: , , , , , , , , , , , .

Get your copy of ‘Transcending the Grandest Illusions’ The Most Senior Member of the Catholic Church in Britain Admits Sexual Misconduct

1 Comment Add your own

  • 1. Question Everything | Expose Illusions' Blogpage  |  March 4, 2013 at 11:56

    […] the integrity and authority of the Church. Of course, she may have been upset with my blog on the destructive nature of banks as, by the looks of her own blog, she is pleased with the British banking system particularly her […]

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