Wednesday, September 28, 2011

How Banks are oppressing the World's Economy.

I've been a bank protest blogger for the past three years and just the other day I had a new moment of clarity, a defining moment on how banks are controlling society and in the process stealing wealth they did not earn.

I wrote about it on my Swarm The Banks Blog. I feel it is the most important article I have ever written because it spotlights the underbelly of how banks rule the world. You can find the article here.

The condensed version of that article is this simple, Whenever banks restructure a debt, it is considered a default.

Banks have no motivation, and may actually be constrained by laws they themselves have created, to change any debt unless they can financially punish the person or entity requesting the change in terms.

I believe there is plenty of wiggle room in which someone in debt, if they agree to pay off their debt, can have VAST AMOUNTS of the interest rate waived if their financial situation is dire.  

If you have ever loaned out money to someone, isn't getting the money back the more important than racking up insufferable amounts of interest, penalties and fees? 

Sure the banks need to make a profit, but it is pretty clearly that the banks are responsible for the present economic malaise, which was created by first artificially inflating home values, then plummeting them back down by close to 50%.

Right now, the government and the banks require that anybody requesting a change in terms to an existing loan of any kind be DEFAULTED before a change can be made. 

Don't believe me? Ask ANYONE who applied for the Home Affordable Mortgage Program, aka, HAMP, if they were not required to default on their existing financial agreement before the possibility of a new deal could be made.

Obviously being defaulted upon is like being scarlett lettered for future financial abuse and even when it comes to looking for a job!  

I believe if the public can agree that banks labeling any change in  terms a default is how the banking institutions are truly oppressing, then there can be ways to solve the problem through the present political system.

If there is a unity of message, there can be a clarity in presentation.

Allowing for a change in terms to an existing loan without it being called a default could be one of the most proactive things that could happen.


  1. Thank for posting information on banks and sharing it with us all. It is absolutely amazing how the current banking system works and abuses people.

  2. Thanks for the comment Blog Cruiser, I'll check out your link, it looks interesting.

    You can keep updated on dozens of Occupy News sites on my other site called Occupy News


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