HSBC Bank Loan Advice Please

[simlmx]

the banks ignore all my letters too. even when i send them all via recorded delivery. I also remind the bank that it is they who claim no liability whatsoever when they send an unregistered letter and a customer does not recieve it, so ignorance is no defence especially when my letters are sent via recorded mail. I go on to warn them that my letters will be entered into evidence should a claim be pursued through the court system.

[Obama Bin Laden]

People of Britain, you appear to be living under some misapprehension.

Your signature does not create money.

Investors create money.

I'm from the Empire of Atlantium and I have had to open 7 new bank accounts in this credit crisis because your government will only safeguard £50,000 per account.

A year ago I was bringing in 5% interest on my savings - contributing 0.25% of our nation's GDP.

Now, because of you lot renaging on your debts, I receive only 0.1%. A loss per annum of £18,375.

And you wonder why I left this pathetic community.

Fortunately for me, the rest of my wealth is invested in Solidi, our gold backed currency.

Comes Imperii, Empire of Atlantium.

[ziggy]

well what are you worried about you rich git?

[Obama Bin Laden]

I'm worried about losing over £18,000 per annum and the fact that his forum seems to think that by taking out a loan they are creating money, when it's foreign investors like myself that create your money.

But don't feel sorry for me, I'll simply remove all of my money to some other country. Good luck, serfs of England.

[arten]

Mate you don't understand how the money system works whilst the rich are living off the interest the poor are living in more poverty. Don't let that cause you loss of sleep with people like you around we will never build an eglitarian society. Now here is a lesson for you on how the Baksters set the system up and enslaved us all.

http://www.relfe.com/plus_5_.html

[Marigold]

I think Obama Bin Laden was talking "tongue in cheek" Arten.

[ziggy]

i thought he was talking head up arse.

[Obama Bin Laden]

The Fractional Reserve banking system works on deposits, not signatures. That means someone has to deposit money in the bank. Depositors are getting a rough ride at the moment.

For every deposit, they can lend upto 10 times the amount. But they must HOLD the deposit!!!!

Stop believing everything you hear / read on blog sites.

[arten]

Obama they are creating money out of thin air where the fuck have you been you sound like a plant to me lol when people go into a bank and ask to say loan 5k all the bank does is ask the person to sign the application form, then with a click of the mouse put the 5k in their account. It is not dependent on others investing that is bullshit and lies they are telling people like you. And besides their is a Statute that prevents banks from loaning out other people's monies.

[Obama Bin Laden]

Fractional-reserve banking is the banking practice in which banks keep only a fraction of their deposits in reserve (as cash and other highly liquid assets) and lend out the remainder, while maintaining the simultaneous obligation to redeem all these deposits upon demand. Fractional reserve banking necessarily occurs when banks lend out any fraction of the funds received from demand deposits. This practice is universal in modern banking.

By its nature, the practice of fractional reserve banking expands money supply (cash and demand deposits) beyond what it would otherwise be. Because of the prevalence of fractional reserve banking, the broad money supply of most countries is a multiple larger than the amount of base money created by the country's central bank. That multiple (called the money multiplier) is determined by the reserve requirement or other financial ratio requirements imposed by financial regulators.

For an individual bank, the deposit is considered a liability whereas the loan it gives out and the reserves are considered assets. The deposit will always be equal to the loan plus the reserve, since the loan and reserve are created from the deposit. This is the basis for a bank's balance sheet.

The creation and destruction of commercial bank money occurs through this process. Whether it is created or destroyed depends on what direction the process moves. When loans are given out, the process moves from the top down and money is created. When loans are paid back, the process moves from the bottom to the top and commercial bank money is canceled out, effectively erasing it from existence.



Do some research and stop talking bollox.