Emperors New Clothes.
Call me naive, but I thought what qualified banks to do what they do, is because they have shit loads of money.
They don't.
Apparently, all they have is a net work of staffed and fitted, posh, secure, buildings. The systemic ability to record, transfer and add or subtract interest to money, and that's it! That is what constitutes their entire assets.
No actual money.
In fact, they are completely skint. Boracic.
Worse than that, they're in debt. Seriously in debt.
Now to me, being seriously in debt, means owing say, 5 times my assets. Yet for banks, this is a mear bagatelle. They owe as much as 30 times their assets!
Ask yourself this, if you had a life long, reliable friend, who owed 30 times their assets, and they asked you for a substantial loan, would you question it? Would you at least hesitate before handing over the crinkly folding stuff?
Of course you would question it, and yet we seem blinded by the smoke and mirrors presented to us by banks.
I'm amazed anyone gives them money to invest, they are unqualified to handle your money. They rely completely on your confidence.
Like fairies, if no one believed in them, they'd all die!
In light of this, I'm no longer surprised that some have suffered a 'run'.
What amazes me, is that we gave them our money to invest in the first place.
posted by Tickersoid at 4:49 PM
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15 Comments:
Luckily for me, I'm too poor to have a lot saved in a bank. But even better, the federal gov't insures my deposits for amounts 250 thousand dollars or less. So even if the banks closed, I still get my money back! The gov't seizes bank's assets (buildings and land and properties).
I have my money in the bank because if it gets stolen, the federal gov't will replace it; unlike having it stolen from under my mattress! Still, banks do seem like robbers with all those high fees and charged interest!
Oh, and I've awarded you the Lemonade Award, for taking life's lemons and turning them into lemonade (or margaritas)!
Goodness, Tickers. It's changed around here. I had to fight past a warning of depraved content before accessing your newly named blog - Which I approve of, of course.
I was, however, a little disappointed to discover no depravity aside form that naked bottom in the picture.
Ah, well... Maybe next time?
What was this post about again?
Indeed they clearly fall into the category of "If you're gonna tell a lie, best make it a big one."
eroswings- Thank you eors' for this most coveted award. I'd like to thank my daughters for their comic input. Surfer Dude for allowing me to watch his Sky package and for the Sunday roasts, Miko the cat for fearlessly guarding my monitor. All my fellow bloggers for filling up the time between adverts on the telly.
IDV- Glad to have received your in depth analysis of the latest events here at Tickers Towers.
QChique- Welcome back to Tickersville. Is this visit the consequence of a small change in your life style?
Well said. What also makes me laugh is that we are actually meant to feel sorry for some investment bankers who have lost their jobs and are having problems getting reemployed and paying the mortgages on their 3 million pound homes. They screwed us now they must find themselves screwed.
But are you still just a bit poofy?
Emmak- Don't get me started.
MJ- I don't think so. In fact I may have lost my Mojo altogher.
Your mojo is looking intact over at Eroswings' blog.
Happy birthday!
I've started drinking in celebration.
I'll have a Malibu in milk please. Don't get me started on the tequila slammers.
Fewclewz......
Ugh! Tequila .....that'd gag a maggot!
Happy Birthday!
I had 1 trillion pounds meself but I think I lost it in the sofa! How come you have a blogger content warning and MJ don't?
An excellent expose..the BASTARDS!
This bail-out will have Adam Smith rolling in his grave..free market my ass.
I'm marching down to Wall Street with my placard Jump You F*ckers!
The only difference between a Bank and a Whorehouse is that the latter usually have a decent piano player.
When you go to either of these oldest professions;
you know that you're getting screwed and they blow you off
nothing is free
it's all a la carte
you're paying someone else to do something that you could do reasonably well by yourself
and worst of all...
now you have to insert your hard currency into an automated teller!
They don't even have the decency to f*ck you in person!
It's tragic.
Fewclewz- Goes down a storm in South America I'm told.
IDV- Thank you very much.
Mutleythedog- Sorry to hear about the sofa loss incident.
I think MJ want's to offend the emotionally fagile.
Common Tater- Nice comparison.
There does seem to be a lack of jumping out of windows.
It has been suggested that we'll only stop future repeat performances, if we get more heads on poles.
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