Quaker tenets of good banking

 

Honesty

Integrity

Fair dealing

So, how is that all working out then?  LIBOR fixing, money laundering, PPI mis-selling, Swaps mis-selling, etc.  As the Government Minister said, bankers are "lying, cheating, thieves".

The trouble is, there are no 'checks and balances' in the system to ensure that these practices do not occur again.  The system urgently needs reform.  But what?

If you are interested in finding out about some well researched solutions then visit:

www.positivemoney.org

[Link opens in new window]

£691,000,000

How much money did Royal Bank of Scotland [RBS] loose in the first half of 2008?
Answer: £691,000,000

Here is David Mitchell explaining...

The truth about the recession by David Mitchell 
[Link opens up in new window on YouTube]

PS Alex Salmond take note of your skilled workforce for when you try and go it alone.  Are you sure this is what you want?

Austerity

Austerity is a Government choice.  

There is another way.  

Find out what can be done at www.positivemoney.org

For more information on the International Monetary Fund's research go to:
http://www.positivemoney.org/2012/12/a-return-to-sovereign-money/

UBS further fines

So, UBS are having to pay further fines for the manipulation of the LIBOR rate.  £940m in fact.  I think the BBC said that the authorties were considering confiscation of profits as they had no confidence in the rate between 2005 and 2010.

Like the Government Minister on BBC Radio 4 said about banks, "lying cheating thieves".

Mark Carney (Trojan Horse) update

I've mentioned Mark Carney before (new Governor of the Bank of England) and how he oversaw the 'fraudulent' disaster that is the Canadian economy.  Well, according to the BBC he will be paid more than the previous Governor.  A salary of £600,000 per annum and a housing allowance of £250,000.  Why are the Government continuing to reward failure and think this is a good thing?

Big stuff that needs fixing!

These snippets of news were all on BBC Radio 4 in the past week or so.

First time buyers
70,000 in 2005
16,000 in 2011

4.5% food price inflation

'Significant' increase in credit (i.e. debt) in the last 3 months of 2012 according to the Bank of England.  Did no one notice that too much debt IS the problem?

Please explain how any of the above is good?

But on the positive side India is the coldest it has been for four decades and China is the coldest it has been for three decades.  Global Warming fixed?  Or the climate just doing what it always does, change?