Forum Post: Lets create a Bank
Posted 13 years ago on Oct. 24, 2011, 2:58 a.m. EST by soloenbarcelona
(199)
from Barcelona, CT
This content is user submitted and not an official statement
I suggest we create a Bank. I´m willing to put my money into a new created bank that works differently. This new bank must follow different rules. If people are interested in it, we would have to sit down and really study it wisely, but I think the main points should be the folllowing:
It should not be a global bank, but every city or area should be an independent branche (not puting at risk other areas/ but all seperate)
All money put into the bank should only be used for a few things:
a. give the depositholders the possibility to make payments for purchases and withdraw when they need it.
b. to help local investors to borrow money to invest and create companies in their own comunity.
c ¿I´m not even sure the bank can be used to invest in housingloans, studentloan...?
Total transparancy to all clients that have a deposit-account in this bank.
Interest 0% on deposits/ costs minimum/ management bonusses 0/ Wages fair.... All minimum but sustainable. I mean those working in the banks should get fair wage but it doesn´t have to be high. (We create easy guidelines so you don´t need the best of the best to run the businesses, just honest people.)
The people that put there money into the account need a garantee nothing weird happens with there money. So say x % of all deposits is just in a well protected safe in the local policestation maybe and y% can be used for some local risktaking activities (again all transparent)
I think these banks used to exist untill recently, but we were told they had no chance against the big banks. I don´t believe this. I think it was the 1% that won a dangerous battle.
There's actually a call amongst some organizations to relocate funds to local credit unions, a step towards what you're talking about.
Cool, someone else here spoke about it. I´m going to see if we have any credit unnion around here. Here you go, the amount of stuff I learn here is defo higher then a university :)
This is a good idea. Send me a private message and I will help set it up.
"It should not be a global bank, but every city or area should be an independent branche (not puting at risk other areas/ but all seperate)"
now if you have two branches in city A and city B. and city A so happens to fail.
it will be unfortunate that everyone who has an account with A will lose all their money.
now if they had shared their resources. city A may fail, but there will be some money in city B to transfer over, saving city A.
If one of the braches fails, not all will be lost, as big part of the banks are just deposits in a safe under the local policestation or alike. And if all the projects in that city fail, yes that area will have loses. But they will take good care of their investments. Asses risks and maybe take a special insurance so that local risks can be reduced.
Dear Solo, Wonderful post, great vision & inspiration. No, it's not a credit union. Banks & credit unions are normally regulated by the crooks who designed the rules & control the economy for themselves. What you're getting at is the cooperative community credit system, described in some detail in "Green Credit & Commonwealth" a section of The Greenbook, at > http://mm-greenbook.blogspot.com < After you read it, let's talk. Hilscher is right. We can't try to compete with the current system and succeed. We need a totally new kind of system, with a totally different set of values & dynamics.
Well that is a hell of a text (homework for me) See howfar I get and if I learn new stuff. If you are interested on why I was thinking of a local banking system, here is a 32min presentation of someone that gives a good summery on why we are here. I´m not happy about the things he tells about global changing, but for the rest (I already absorbed a lot of info that makes me believe his theories) I give it a really positive critic. 10 out of 10.
I´ll be back if I can find this post again when I finished reading. http://www.youtube.com/watch?v=eQT2K75auuU&feature=share
Sofar I read a few hours but will ask you to checkout the warnings in the video from an Australian, that just reshaped some of my sought yesterday. (I am easily influenced these days :-) ) For years I believed there should be a worldwide accion being taken to save the planet. In some way I still do, but the video warns us for somethings I didn´t see before. The guy tells us to become streetwise. The why and how he tells in this video and as I sad, conclusions are partly radically oposite to what I believe in and the greenbook, but not as stupid as we think. Tell me what you think and I´ll continue with the seven essentials of sustainable succes after. (just read your post again and you advised me the Green Credit and Commonwealth, I´ll read that part then, after a good introduction this morning :-)
I like where this is going..... I was recently pondering the idea of moving back to Louisiana, starting an organic plant nursery, mushroom farm, and subsistence fishery, then attend a farmers market every weekend in order to live a life of subsistence and sustainability.
Sounds like a good plan! Lots of people thinking about todays situation advice to start investing some time in the grows of food.. I also like where this is going, but still have some problems of the idear the global economy is the main problem, but defo all interesting thoughts are being shared and we are thinking instead of consuming tv-crap.
It would be really hard to compete with and ultimately abolish the federal reserve that way, although I say I like your positive attitude. Keep the dream, because honestly thats where we all start. :)
Thank you, when the debate really starts, its good to have some dreams (frameworks) ready. I´m sure some economists must have some plans ready. I don´t think it has to be a competition against the FED at the beginning, but a complementary system and I thought about it in different forms (even facebooklike interface where you join people with the same interest to start investment communities accesible for everyone with internet connection... I think I should investigate and try and find other economist at universities that share our idears.
Good thinking, I truly wish you luck! I think if you do enough homework you'll come out with something right.
I think you would need more than one bank. One of the reasons of the banking crisis was too much concentration of wealth and power in one place.
Well yes, I think we need a new framework, and basicaly it would be good to have a bank in every area (don´t know if the clients should be say max. 1000, 10.000 or 100.000) but I agree with you 100% And independent from the FED (And maybe to complement the actual system (give it some healthy competition)
Create a currency first, than create a bank.
Interesting. Say you put your money into the new system for example $ and then you purchase a new local currency that exists world wide. Say units of something exchangable (hours of work, local land surface, silver/gold/ it´s a hard one to be honest..)
I say invest the money into Gold stock, and use a form of receipts as currency between all OWS locations across the global. The value of the currency will increase with economic instability. Refrain from debt Keep pushing And it will eventually become the currency of choice. Any smart investor will buy up large amounts and begin to sell it.
Mind you, good luck creating a currency that is immune to counter fitting.
Solenbarcelona, take a look at this type of bank. http://www.jak.se/english/english
What do you think of that?
/Welo
Looks like it´s what I´m talking about. Lets see if they exist everywhere. I´m going to see for Barcelona.