Many asks us why we may seem so hostile towards commercial banks? While it’s easy to understand the question, the truth is that we’re not. Both Global YES to CASH and Finland YES to CASH are, to put it bluntly, highly supportive of banks acting like banks, not “loanshark institutions” forcing all their losses on their customers.
We’re especially supportive of community banks, cash and currency exhanges like Forex Bank and other smaller institutions that focuses on the services that banks originally are supposed to deliver, like real saving/loans and managing and securing physical assets for the ordinary woman and man. Banks that make their money on the services they deliver to each and one of us, not on financial betting with our money in the global market. Betting where the gains go to the banks and the losses to their customers, aka their creditors.
How many of us are realizing that the banks borrows money from us when we put money on our account? We become the creditor of the bank. Did you know that? The bank owes us the money we have on the account. Have you ever thought about yourself as a bank creditor? How do the bank treat you as their creditor, when you borrow from them? How should you treat them as their creditor?
Let’s be very clear. All democratic societies need healthy banks. Real and sustainable commercial banks are not the problem. They are the solution, and deliver services to their customers and threat their customers accordingly. Customers are treated like good customers are supposed to be treated. Anything else is bad for business in the long run.
Modern big banks are different. They want cash removed from their customers and one may at times believe that they see their customers as cannon fooder in a financial war to preserve the power of banks in a time where fintech developement changhes all for everyone? Customers seem more than anything for them to be a “tool” they can “rape” by selling them investmentproducts no other than the banks themselves will ever make money on. And as “money trees” when the banks sell them consumer loans with interest rates that will make even loansharks ashamed.
Many of these banks seem to think that no matter what they do they’re to big to fail, and their customers will in some way shape or form be forced to save them. The EU bail-in directive is a part of this, bail-outs by the taxpayers another. They have been let “off the hook” before and expects it to happen again.
Why should we trust our cash to banks behaving like this?
Finland YES to CASH is more than anything about keeping our physical cash in the possession of the public, not the commercial banks. Through that we can balance the economic power of the society. No freedom is possible without a balance of power between the public, the government and the banking community.
CASH is freedom. Will you actively join us in Finlad YES to CASH? Register for our newsletters here.