SPAM_zana's picture

Have Your Say On Our Socio-Economic Future!

What is state, what is the difference between a man and a person and on what is relationship between a man and a state based on? What is currency, how does monetary system function and why is money issued and distributed in this exact way? It is really strange that the wider audience that has recently been disgusted with bank robberies now starts to justify such acts.

ItsTheInterest's picture

The Bank Loan Process, Creation and Destruction of Money

Do banks have to retire the principal portion of loans, or do they confiscate this also? I'm pretty clear about the confiscation of interest but the principal I've always assumed had to be retired. Thanks

debtor's picture

Credit Card Debt...advise...

Hi CM folks, 

I've had rosy colored glasses on and gotten into significant credit card debt. 

I own my home and owe $100K with 1st and 2nd mortgage  
on a house with ~ $200K value.(1998).  Mortgage payments
are current and up to date. 

AND I have ~100K in unsecured credit card debt...
and stopped paying the cards when my income plunged in early 2009 (~2yrs)

Today a sherriff served court papers at my home that I need to
respond to for one card sold to a collection agency for  $23K.

yobob1's picture

Shed a tear - Banks not making as much.

Income slipping, defaults piling up under the rug, inadequate loss reserves - what's not to like?

Even after taxpayer bailouts restored bankers’ profits and pay, the great Wall Street money machine is decelerating. Big financial institutions, including commercial banks, are still making a lot of money. But given unease in the financial markets and the economy, brokerages and investment banks are not making nearly as much as their executives, employees and investors had hoped.

SagerXX's picture

"The Confusion"

In Neal Stephenson's three-book series "The Baroque Cycle" he weaves a multi-threaded tale -- IMO, an excellent yarn -- the ultimate subject of which is the long-ago creation of the modern banking system (circa the 18th C).  It's not every day that a writer of Mr. Stephenson's brain power writes an enjoyable several thousand pages worth of tale for those that actually might find such a story interesting (much as he did for cryptology in "The Cryptonomicon").  

kmarinas86's picture

Mathwise, a universal bank is the only viable replacement to fractional reserve lending.

A universal bank where withdrawals=spending, and where any and all spending must be instantly redeposited into that universal bank as transfers to other accounts, is the only way to expand the spread in values (both positive accounts and negative accounts) without having a run on a bank. The possibility of a universal bank proves that the bank bailouts are totally unnecessary. Our system currently requires the tendency for banks to have more assets as more liquidity is satisfied.

SteveR's picture

Highly-Rated "Nationwide Bank" - No Bricks and Mortar

According to, there is a bank in the Columbus, Ohio area that is very highly rated (A-).  The bank is affiliated with a large insurance company - however, it is a virtual bank with no bricks-and-mortar offices.  Transactions are handled via mail, internet, or phone - and cash can be obtained from a network of ATM machines serviced by other companies. also gives them very high marks (4 stars).

investorzzo's picture

Bank of international settlements

Something all of us need to pay more attention to. Who are these guys? What role do they play.

Dogs_In_A_Pile's picture

Wall Street Stranglehold On Economy Is Choking Americans

Great article by Shah Gilani

He approaches this from a greed and cockiness standpoint rather than a conspiratorial one.  No matter what you believe to be the motive force this piece is a pretty good piece of work pulling the whole mess together.

A couple of outtakes

rowmat's picture

When will the people finally realise they have been duped those who were supposed to serve them?

The aircraft is at 40,000 feet with three engines out and the last one is running at maximum revs with its throttle wide open with falling oil pressure and the temperature is climbing into the red.

The plane is now losing altitude fast and heading towards the mountains.

The captain has just announced over the intercom that everyone should now relax and unfasten their seatbelts as everything is now running smoothly once again.