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Bank to the bone

by on February 17, 2014
Al Pacino in The Devil's Advocate, Warner Bros.

Al Pacino in The Devil’s Advocate, Warner Bros.

Our current banking system is part of a greater system for diverting public funds to private pockets. One technique that sometimes comes in handy is creating a Bad Bank.

A modern moat, an arbitrary line drawn between non-performing assets and the profitable part which must remain private.

Hint: private comes from the latin for take, rob, steal.

Bad Banks are the opposite of Cash for Clunkers (Germany: Abwrackprämie). This subsidised the sale of new cars, while perfectly good old ones were scrapped. Now we’re forced to keep bad-to-the-bone banks going because they’re too big to fail.

The public pays the toe-truck, and gladly so. Fooled into thinking we’re getting rid of the Bad, blissfully unaware of the costs we pay permanently to keep the Good Bank going. Nothing like the smell of a new car.

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A general lack of interest is the banksters’ greatest asset.
Much like the Fed’s massive QE: just don’t give money to people.
Read our petition to see how one might approach changing the system.
And don’t miss our draft for ccc if you’d like to get more concrete.
If you read German, click here for our open letter to the Austrian President.

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