A Quote by John Buchanan Robinson
The business of a bank is to lend money; which amounts, nowadays, to lending credit.
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Most banks - with Deutsche Bank at the top of the spectrum here - have decided that they can't make money lending to barrowers anymore, so they're going to the second business plan: They lend money to casino capitalists. That is, to people who want to gamble on derivatives.
If two parties, instead of being a bank and an individual, were an individual and an individual, they could not inflate the circulating medium by a loan transaction, for the simple reason that the lender could not lend what he didn't have, as banks can do. Only commercial banks and trust companies can lend money that they manufacture by lending it.
If your bank took bailout money, take your money out of that bank and put it in a credit union. Credit unions are owned by the people who have their money in the credit union.
The problems of 2008 were never cured. The Federal Reserve's solution to the crisis was to lend the economy enough money to borrow its way out of debt. It thought that if it could subsidize banks lending homeowners enough money to buy houses from people who are defaulting, then the bank balance sheets would end up okay.
It is an axiom nowadays that no bank fails for lack of capital; unprofitable lending is always the underlying cause.
The Rothschilds, and that class of money-lenders of whom they are the representatives and agents - men who never think of lending a shilling to their next-door neighbors, for purposes of honest industry, unless upon the most ample security, and at the highest rate of interest - stand ready, at all times, to lend money in unlimited amounts to those robbers and murderers, who call themselves governments, to be expended in shooting down those who do not submit quietly to being robbed and enslaved.
Save money; never rely on other people to lend you money. We call it having 'walking the streets' money - money in your back pocket or bank account that belongs to you.
When money is free, the rational lender will keep on lending until there is no one else to lend to.
Bank should be healthy and robust system should be there to lend more, more credit should be available and that can only happen with the financial health of the bank being right.
I don't use a debit card. The safest thing is a credit card because you're using the bank's money. If someone accesses your information, they are stealing the bank's money, not yours.
Under the old system - which is now so archaic that a lot of people can't remember it - if you wanted money you had to go to the bank and take the money out in cash form, and you couldn't take out money that you didn't have. But with the credit card you can spend money you don't have, and that is just so tempting.
And let the Fed sell bonds to bring bank reserves back down to required reserve levels, so we have restraint on bank lending and bank issuances of liability.
There is one bit of advice given us by the ancient Greeks, and by the Jews in the Old Testament, and by the great Christian teachers of the Middle Ages, which the modern economic system has completely disobeyed. All these people told us not to lend money at interest; and lending money at interest - what we call investment - is the basis of our whole system.
What we are saying is that we need to consolidate the capacity to lend support. Because, one of the problems that's mentioned with regard to the Black Empowerment process in the case of small and medium business, is shortage of credit or difficulties of accessing credit.
It is no wonder that bank capital is regulated. When borrowing and lending is profitable, it is tempting for banks to scale up their operations and to borrow and lend too much in relation to their capital, in effect reducing the effectiveness of the potential capital cushion.
A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.
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