Saturday, 16 January 2010

Criminals, Pirates and Propaganda

Many bloggers (including myself) point out the importance of splitting retail banking from investment banking once again, but a fellow blogger recently highlighted some of additional challenges ahead too: 

"The difference between the reality of banking and finance and the propaganda that their publicity machines exude is just as apparent as it ever was. However because they have so much money, muck like tobacco companies, they are well able to resist change. This reality of capitalism will not be done away with by a few blogs!
I really do not see any genuine prospect of any nation stopping the banks from sucking the lifeblood out of the World's people without genuine revolutionary change. All banks will have to become smaller and less powerful and it is now a battle for the World's nation states to achieve this and it looks like the nation states are failing badly.
It must no longer be a source of pride that any nation has a world dominance in banking and financial services. Instead it should be a badge of national humiliation and shame. Being a World power in banking must be seen as akin to being a failed state and no better than present day Somalia. Bankers need to be see as pirates and leeches on the lifeblood of any nation and the World.
The propaganda of the banks must be resisted and countered for the very simple economic reason that the people of countries like the UK cannot afford to bail them out. We must see and portray bankers more as international criminal and pirates in order that we counter their propaganda ..."

Banking ... Wealth creation, wealth manipulation, or wealth destruction ... you decide ... and if you're not sure, take a look at a few of my previous posts here (e.g. wealth manipulation, wealth destroyers).