Marginal Banking

I hate banks. A bunch of greedy, money grubbing, thieving, worthless, yuppies, making money on MY money, but don't pay Me squat in return. And that's not even getting into the topic of marginal banking, which is what I'm about to do now.

I always knew about marginal banking in concept, but never really looked it up to see what it entails. Marginal banking basically says that if a bank has 1 million dollars in assets from it's customers, it can borrow out around 8 million dollars to other customers. Does that sound a little scary to you? Not only scary, but greedy and corrupt too. It's the basic principle of borrowing money that doesn't exist, which we know from the past economic collapse, is not a good thing.

So if people come in to get a loan at 8% interest on the million dollars that the bank actually has, they make a nice profit and can pay the employees and heat bill and get another nice oak desk. Now ... if you borrow that money out 8 times again out of thin air, you now are basically making 80% interest on your 'non existing' money. EIGHTY PERCENT!! REALLY?? Maybe that's why banks are the biggest buildings in town. Maybe that's why the banking industry collapsed recently from greedy, money hoarding, pig nosed loan 'specialists' who risked everything at the expense of the rest of us. Maybe that's why we're 10 trillion dollars in debt to China.

You see, in My humble opinion, the government does one hell-of-a-shitty job setting the example of how to handle money. Then the banks are next, and they follow the exact same example, then the consumers also continue the trend and live they're everyday life like this too. So we basically have a massive debt snowball that starts from that SUV you just had to have at $50,000 to keep up with the Jones down the street (which you can't afford), all the way up to the government funding 2 wars and bailing out the bankers, all on money we don't even have. Have I ever mentioned that I'm embarrassed by Americans?

Now to sum it all up, government is stupid. It's seems to be in it's nature. Banks are greedy pigs, they always have been. Both of those things would take a massive onslaught to change. But people ... everyday people .. I would have hoped you would act better than this. I really get saddened when everyday people become as greedy as the banks, and as stupid as the government. Because when everyday people become this way, then you are empowering the banks and the government too. And just how in the hell are we going to get our banks and government to change their ways, when your doing the same stupid things in your personal life as well?

You see, when everyone asks "How much can I borrow?", instead of "How much can I save?" ... then we're ALL screwed! Amen.