If you've been searching for a new bank account or mortgage, you're quite likely to have come across the term offset banking. It's a relatively recent development in the financial world, and has the potential to save certain groups of people large amounts of money.
While the concept of offsetting can be used in a wide variety of... Read more
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Modern world recognize and use two sciences: mathematic and economy. Long time ago, Albert Einstein said: "The hardest thing in the world to understand is the income tax." For every action there is an equal but opposite reaction. Interpretation of Einstein law is very simple: Unfortunately, one of our two sciences is guilty for the worst crimes ever committed.
In simple terms the new money comes into circulation through the banking system, issued as a debt to the banking system. This money is created out of thin air and is backed by nothing. There is a significant difference between a nominal value and printing costs of the money. Here we are talking about enormous profit, also called seigniorage. What's worse, with fractional reserve banking like in Euro area, we have the same money in 50 different places at the same time. In the case of money lending like this one, generated interest on initial deposit becomes unbelievable number. It's not finished yet: You have to repay public debt, interests, inflation, other hidden taxes, and who knows what else... Finally, world is full of enemies so you have to fight them before they have a chance to attack you. It's a war that you're losing for twenty centuries. What is hidden behind the Central Banks independence and autonomy? Privately owned corporations and lost of "democratic countries "monetary sovereignties? Some Little-Known Facts All revolutions have one common thing: no one changed a monetary system. Existence of Bilderberg, Trilateral Commission and similar organizations. On June 4, 1963, a virtually unknown Presidential decree, Executive Order 11110, was signed with the authority to basically strip the Federal Reserve Bank of its power to loan money to the United States Federal Government at interest. With the stroke of a pen, President Kennedy declared that the privately owned Federal Reserve Bank would soon be out of business. On June 23, 2005, Former IRS CID Special Agent Joseph Banister has been acquitted of tax fraud and conspiracy. The government was unable to prove that US law requires income tax withholding or filing. On September 15, 2005, a Justice of the peace in the southern Italian town Lecce has decided that the Italian Central Bank's practice to retain the seignorage (signoraggio) on paper money for its own profit is illegal and that the money should be turned over to its rightful owners - the citizens of Italy. Existence of hundred of trillions invented values of financial derivatives. Negative Effects Of Credit Card The magnetic strip was introduced in 1970 and ushered in the information age and the credit card industry boom which has driven this economy now for decades. Though we don't have a debtor's prison as in the days of Babylonia, nor is usury lawful (though a good argument might be presented that it is from time to time), we do seem to have come full circle. Remember all those farmers back 3000 years ago who went to prison and could not grow thereby starving there countryman? Well, what do you suppose drives our economy? It's credit. And what horrible condition continues to rise in epidemic proportions as a result? It's bankruptcy. Per an article Can You Afford It? The national balance on credit cards, auto, and other non-mortgage loans rose to a new record figure in April 2001 at $1.58 trillion. Delinquent credit card payments (30 days past due) has risen to new high of 5% delinquency. There is a 17.5% increase in the already staggering number of bankruptcies filed. The credit card has been the single major pivot in creating a boom in bankruptcies. Do you suppose it might be possible to have enough consumers declare bankruptcy so that the entire economy might implode upon itself? It did with the farmers in early civilizations. I would say it is very possible when your castle is built of plastic.
A current account is a vital part of our everyday lives, and acts as the hub of our financial activities. Our wages are paid into the account, many of our bills are paid from it automatically, other bills are paid by checks draw... Although many customers were initially wary about the safety of online banking when it was first introduced, it has in fact always been a pretty safe proposition. Strong security measures were put in place right from the start, ... Prague, 15 June 2001 (RFE/RL) -- The German central bank (the Bundesbank) estimates that more than one out of every three German marks circulates outside of Germany -- signifying billions of marks. The banks says the majority of... A recent survey has shown that consumers' confidence in banks has taken a real hit, with one of the major causes of this decreasing confidence thought to be the recent situation with Northern Rock. According to the results of th... Online banking facilities have the potential to make our financial lives much easier, letting us conduct our financial affairs at a time that suits us rather than having to fit in with the opening hours of your bank branch.
I... If you've been keeping an eye on the media over the last few months, especially the parts of it covering personal finance, you can't fail to have noticed the huge row over bank charges. Stories abound of customers reclaiming tho...
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