British Car Auctions lost money regularly until they changed their banking practices and took advantage of other people's money in the overnight interest markets. Europe should form a Girobank that has nothing to do with "financial innovation" other than on lean production principles. It could have hardly any prestigious buildings and take over the post offices ...
On 2 Mar, 22:02, frantheman <[email protected]> wrote: > There are so many examples of routinely accepted bank robbery: one > small one (though not for the banks): > > Unlike many national economies, which still rely a lot on cheques, the > normal German method of payment is the direct giro bank transfer. Up > to the digital era, this involved filling out a form with the account > details of the payee and handing it in at your bank. It then, > typically, took 2 to 3 working days to process the transfer. > > Today, all of this works electronically. The latest figures state that > over half the Germans now do their banking online. When I make a > transfer on-line, the sum is deducted from my account immediately. The > interesting thing is that it still takes 2 to 3 working days fro it to > be credited to the account of the receiver. Where has the money been > in the meantime? Three guesses. Okay, it's only a small fraction of a > cent in interest which such small sums can earn in 48-72 hours, but > there are hundreds of millions of such transactions daily. > > The wonder is that, with the multitude of scams the banks routinely > run, they were actually able to manage to LOOSE so much last year! > > Francis > > On 2 Mrz., 21:28, archytas <[email protected]> wrote: > > > I can confirm that the only criminals in gaol are both dumb and likely > > to be severely mentally disturbed. A lot of my work was concerned > > with corruption in our armed forces and there was plenty. I was only > > skimming the surface there. Even the dumb reckon they only get caught > > once in a blue moon. We were burgled recently and eventually got our > > stuff back via the insurance policy. This in the end is less > > distressing than paying bank charges and other facets of white collar > > crime. The fat fees are undoubtedly stolen as the processes could be > > routinised and the costs rendered insignificant. > > > I was on the track of a Ponzi scheme years back - the bloke claimed he > > was only doing what everyone else did in the City. He was right. I > > suspect if the quality technology we now have was applied across the > > board we'd soon discover very little work is being done and that > > financial services are even more feather-bedded than any union site > > with the night shift asleep. Academics are now stealing from gullible > > kids and foreign students through false promises. Honesty is a mug's > > game - but then I'm a mug. > > > On 2 Mar, 19:36, gruff <[email protected]> wrote: > > > > On the other hand, Madoff made off with trillions of free lunches, got > > > caught, and is still living the life of Riley while he awaits charges > > > and trial. So at worst he'll spend a few years in some countryclub > > > called a federal prison by any other name, get out and live like a > > > king on the loot he'd made off with before he got caught. > > > > Once an FBI agent who'd come calling for some info on my neighbor who > > > was applying for a job with the FBI got into a casual conversation > > > about law ... at the time I was working as a paralegal and so was on > > > the fringes of law but close enough that we could converse like two > > > normal adults about the 'forbidden' subject -- a subject that law > > > enforcement officers of all rank and breed do not talk about with > > > civilians -- crime. He admitted to my proposition that the reason we > > > have organized crime and allow it to continue is because the > > > alternative is far worse -- disorganized, random, impulse driven > > > crime. He also validated my thesis that 'crime does not pay' is just > > > so much bullshit fed to the public; that in fact crime does pay and > > > pays handsomely too. And he corroborated my third thesis that the > > > only criminals in jails are the dumb ones; the smart ones were still > > > out there getting away with it and laughing up their sleeves. > > > > On Mar 2, 12:25 pm, gruff <[email protected]> wrote: > > > > > Okay, I buy that except for the spiritual and emotional damage having > > > > no conscience engenders. But closer to reality, a blend of the two > > > > have costs but they are small by comparison. I feel no compunction > > > > about beating taxes nor from taking from the public pot. My defense > > > > -- or rather excuse -- is that as soon as politicians, banks, > > > > corporations and other such entities cease the same actions, I will > > > > too. However, in a more rational and reasoned approach, I do regret > > > > to a small degree not paying taxes and taking government handouts. > > > > Would that I lived in a world where such behavior was rewarded rather > > > > than punished I think I'd be a very well balanced and happy man. > > > > > On Mar 2, 11:20 am, archytas <[email protected]> wrote: > > > > > > There are free lunches Gruff, as long as one is free of conscience! > > > > > > On 2 Mar, 14:35, gruff <[email protected]> wrote: > > > > > > > It may be enviable from one perspective, Vam, but there is a price > > > > > > to > > > > > > pay. Not that that's an excuse for anything. There are always > > > > > > prices to pay. But it's true as some wiseacre once said, there's no > > > > > > such thing as a free lunch. > > > > > > > On Mar 1, 8:50 pm, Vamadevananda <[email protected]> wrote: > > > > > > > > Wow, Gruff, don't I envy your unliable state of such delectable > > > > > > > freedoms ! Seriously. > > > > > > > > On 2 Mar, 00:32, gruff <[email protected]> wrote: > > > > > > > > > I may be the outlaw, outlier, oddball on this issue, but I've > > > > > > > > always > > > > > > > > regarded property as owning you rather than you owning > > > > > > > > property. You > > > > > > > > never finish paying for it (assessments, property taxes, > > > > > > > > maintenance, > > > > > > > > etc.). You have to pay fees and commissions to buy property > > > > > > > > and pay > > > > > > > > fees and commissions again when you sell it. You have to > > > > > > > > protect it > > > > > > > > with homestead declarations and a plethora of insurance to > > > > > > > > cover all > > > > > > > > the possibilities that insurance does it's best to exempt > > > > > > > > itself from > > > > > > > > paying. You can't pack up your property and move it to a new > > > > > > > > location > > > > > > > > if you get some lousy neighbors, and you're always subject to > > > > > > > > lawsuits > > > > > > > > and other claims from careless transgressors, trespassers and > > > > > > > > tradesmen. Owning property has never struck me as such a good > > > > > > > > deal. > > > > > > > > > I own my RV which, since it's got wheels, fulfills my primary > > > > > > > > consideration -- mobility. I have no insurance on anything > > > > > > > > except for > > > > > > > > the absolute minimum required by law (liability only). Of > > > > > > > > course I > > > > > > > > also have no responsibilities: no wife, no kids, no debt, no > > > > > > > > property, > > > > > > > > and no headaches. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""Minds Eye"" group. 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