Space Bandit wrote:
Frog wrote:
Space Bandit wrote:
Frog wrote:
Space Bandit wrote:
Originally Posted by ukcolumn
There seems to be a lot of misunderstanding here about Roger and the Lawful Bank. Just to clarify - Roger Hayes and the British Constitution Group have nothing whatever to do with setting up and running the Lawful Bank. Mike Robinson editor, UK Column
The Lawful Bank is the first of many ‘new banks’ to come. The Lawful Bank is a partnership between ‘The British Constitution Group’ and ‘The World Freeman Society.’
Guy Taylor, a self confessed convicted counterfeiter and wealthy ‘property developer’ from the Hereford and Worcester area, is thought to be behind how the money is getting printed.
ffs, this whole thing is littered with ropey people, as well as totally conflicting info being banded about. Shady as...
Ye he is so shady and under hand that the first thing he does in
one of his presentation is announce the fact that he was convicted for counterfeiting. I think I would rather trust the likes of Guy than Tony Blair, Brown or Camoron and of course the current system isn't operated by sneaky fucking crooks, who get bailouts rather than prison terms is it?
So replacing one bunch of crooks with another is a good idea? :/
Do you have anything of substance which establishes that their intentions are dishonorable? I would be very interested to know how you have established that Roger Hayes is a crook? Unless that was just an attempt at slander on your part.
Well I wasn't talking about Roger the dodger there was I?
Apart from that, Hayes's involvement in this is unclear as I posted with the quizzical expression above. Although if he is involved, I know that;
- Hayes does not appear to have a consumer credit licence
- He doesn't appear to have any financial services authorisation,
which would make him a crook should he get involved. What happens to the 'retired' money Frog? Doesn't that ring some alarm bells? Because, let's be honest, this is never ever going to work... it would take a critical mass of the population to swap their money to this new currency before Sterling would become worthless. How many people are going to do that eh? How many people have even heard about this and take an interest? The new currency will only hold worth if people and businesses start accepting it as legal tender...
Then there are several problems with the liquidity of the bank, should it offer financial services such as mortgages.
Say for example, for a 10% admin fee, you could borrow 100,000. Which is 10,000. But that's only 10,000 over 25 years. And it's a huge risk which nobody is going to insure for so little, leaving even less profit. So where does the bank get it's extra money from since it's never going to have enough in reserve because it offers out 10 x the deposit? If it just prints the money - that's hyperinflation straight away. Zimbabwe springs to mind.
This thing is very badly thought through at best, but with all the dubious characters involved - a scam is far more likely.
Then there is also to take into consideration some of the claims made by Roger Hayes and the fmotl crowd. - none of it has any basis in law, and has been shown to be little more than a fancy conspiracy theory with a few people cashing in and a few people getting sent down. The whole thing is a sham & if I were you I'd stick well clear of it.
Well its not quite true to say that none of it has basis in law, it just has no basis in APPLIED law.
Applied law is all that really matters and this is why I said the UK has no constitution because it is not applied and also it really doesn't have a constitution that applied to all of us today in the way we would like it to.
Further than that though and much more importantly there is the due consideration we should give that this whole carry on is GLOBAL in nature, the UK is not the be all and end all of whats going on. This is why I do not support such stuff as BCG as being a 'solution', a co-op bank with fees instead of interest is just that...a co-op bank it makes little difference other than to be slightly better than a standard bank. Also if you cannot use such a bank for current accounts with daily transactions etc then it ends up being just for savings and loans which defeats the whole object imho.
We should remain focused on the big picture. All the countries in the world have adopted the fractional reserve banking standard and we have seen ludicrous amounts of debt created off it. We should stamp out the madness once and for all and the link I gave to
www.positivemoney.org.uk/ explains everything in great detail. There is no political agenda there just sensible economics.
The banking act of 1844 is a law that intended to stop fractional reserve, the banks just created a new kind of money and side-stepped it and politicians did nothing about it.
A constitution should be all encompassing and
embedded, at the end of the day it is my belief that this will not come about peacefully as people remain divided for whatever reason, concentration on the UK while a start is nowhere near good enough.
The global economy would have to adopt FULL reserve banking at the same time more or less for the economy to recover, its that simple. You cannot solve debt with more debt.