Do We Even Need a Banking Sector? Not Any More

In these days of politically enforced “Austerity Measures” which just brings misery and collapse to society ,lets look at what the REAL problems that our society faces ,and what the REAL solutions can be.

IMHO the problem is CENTRALISED AUTHORITY!
This Centralised Authority defys the 2nd LAW OF THERMODYNAMICS

“The more you impose law, the more you accelerate chaos”

It does not matter if you are a super massive black hole in space or a political movement ,YOU CANNOT BREAK THE 2ND LAW OF THERMODYNAMICS!!!!
Ignore this universal law at your peril, the government does ,that is why society is in so much chaos!
THINK ,HOW DOES PASSING A LAW REDUCE CRIME?
It can only create a new criminal class!
Usually this is a “victimless crime” , between concenting adults or done in private.
BUT it is not victimless and the perpetrator of CRIME is THE STATE!! The state takes away freedom and liberty when no-one has been hurt threatened or stolen from ….until the state arrives and threatens ,beats and steals!!
Of course the government blames , foreigners , the unemployed , single mothers ,anarchists , terrorists ,etc etc ,whoever is the socially disenfranchised. They used to blame gays ,blacks and jews ,but they are too politically powerful these days. 
Of course the state can only exist through force and lies.

The STATE and politions are ,at best , superflous to requirements. They are not needed! In fact thier continued interferring into social matters is just causing social chaos ,which could ultimately lead to a World War and the end of life on planet Earth.
MAD (Mutually Assured Destruction) by any definition!
“When there is state there is no freedom , when there is freedom there is no state!” a famous quote from Lenin.
“The state can do nothing but whither away” Carl Marx
Meanwhile in the “Wealth of Nations” by Adam Smith , the bible of capitalism ,there is no such thing as a state or a centralised authority!
So how did we end up in a situation with a centralised authority that is expanding its influence on society and spreading chaos and death and misery in its wake?
The solution it seems is to just disband the government and let the people get on with THIER LIVES!!
https://cuthulan.wordpress.com/2012/11/10/british-establishment-paedophile-rings-and-their-global-partners/

https://cuthulan.wordpress.com/2010/01/09/a-list-of-child-sex-offenders-inside-the-british-government/

https://cuthulan.wordpress.com/2012/03/14/representative-governments-are-just-terrorists-drug-dealers-murders-paedophileswar-criminalsthieves-psychopaths-traitors-and-liars-with-a-couple-of-useful-idiots-thrown-in-for-window-dressi/

THE SAME IS TRUE OF THE FINANCIAL INDUSTRY
JUST AS SOCIETY WOULD FUCTION BETTER WITHOUT A CENTRALISED AUTHORITY ,POLITIONS MANIPULATING SOCIETY
SO THE FINANCIAL INDUSTRY WOULD FUNCTION BETTER WITHOUT BANKERS AND INSURANCE SALESMEN MANIPULATING THE MARKETS
An automated banking utility has no need for parasitic bankers or politicos or indeed, a central bank.

Do we need a banking sector dominated by politically untouchable “Too Big to Fail” (TBTF) banks? Thanks to fast-advancing technology, the answer is a resounding no.Not only do we not need a banking sector, we would be immensely better off were the banking sector to wither and vanish from the face of the Earth, along with its parasitic class of political enablers, toadies and Federal Reserve apparatchiks. The key to understanding why big banks have outlived their purpose is to grasp the implications of computing power, self-organizing networks and crowdsourcing. Banks came into existence to manage the accumulation of capital (savings) and distribute the capital to borrowers in a prudent manner that minimized risk and still yielded a return for savers and the bank’s investors/owners. Back in the pre-computer era, the record-keeping and risk management processes of these two core functions required a complex bureaucracy and a concentration of accounting skills and lending experience. The costs of operating this record-keeping and risk management bureaucracy was high, and these costs justified the bank’s fees and interest rate spread. In an idealized scenario, a bank might pay depositors 3% annual yield on their savings and charge borrowers 5%. The 2% spread was the bank’s to keep for performing the accounting, collection and risk management functions. Today, computers running scripts/programs can perform these functions with minimal human oversight and at very low cost. The tracking and recording of millions of transactions and accounts no longer requires thousands of clerks and a large institutional bureaucracy; a relative handful of software engineers are all that’s needed to maintain these services, which are in effect a low-cost utility. Risk management and lending are also computerized; the human interface of a banker is a bow to tradition, not necessity. Crowdsourced funding is entirely computerized: those with money/capital choose to join a pool of lenders who accept the risk of lending to an individual, household, project or enterprise for a specified return. This process of aligning excess capital (savings) with borrowers is already automated. Is there a role for regulation? Absolutely: such a system requires transparency that can be trusted. Those who violate this trust with cooked-books, lies, misinformation, etc. must suffer negative, long-lasting consequences, starting with being banned from the system. It is an abiding irony that the present banking system’s secret portfolios and processes (shadow banking, derivatives designed to fail and trigger profitable defaults, etc.) are considered core competitive advantages: in other words, eliminating transparency generates the highest-return bank profits. And let’s not overlook the political consequences of these immense profits: a political and regulatory order that is easily captured to serve the interests of big banks. The number one agenda item is of course to arrange Central State protection of the most profitable (i.e. the least transparent) parts of the banking sector’s operations. This lack of transparency distorts the financial market, rendering it systemically vulnerable to malinvestments and risky speculations and the financial crashes that result from these systemic distortions. The other top agenda item for bank lobbyists is to arrange Central State/Federal Reserve subsidies of bank profits. These subsidies are also known as financial repression, as the Central State/Bank rigs interest rates and regulations to favor bank profits at the expense of both savers and borrowers. Thanks to the Federal Reserve’s Zero Interest Rate Policy (ZIRP), savers have been robbed of hundreds of billions of dollars in income–money that has been effectively transferred to the banks by the State. This is why I call our system State-Cartel capitalism, as the State and cartels rule in a mutually beneficial marriage at the expense of the real economy, the citizenry and especially what’s left of the dwindling middle class. Since the core functions of banks can now be performed by cheap processors and software, we can get rid of the entire parasitic banking sector, once and for all. But what about investment banking? That too can be automated. What about wealth management? In a world where index funds beat 96% of money managers over a long time-frame, that too can be automated. But what about the tens of millions of dollars in campaign contributions politicos skim from the bankers? Now we finally reach the real reason why the parasitic banking sector is allowed to exist, even though it has outlived its purpose and value: the political class of parasites benefits immensely from the banking sector’s giant state-rigged skimming machine. An automated banking utility has no need for parasitic bankers or politicos or indeed, a central bank. The only legitimate regulatory function of the state is to enforce transparency; beyond that, its actions are all subsidies of one sort or another of politically powerful constituencies at the expense of the real economy’s productive people, communities and enterprises.

December 19th, 2013
by Charles Hugh-Smith

http://investmentwatchblog.com/do-we-even-need-a-banking-sector-not-any-more/#chhUPxXUm2PuxHto.99

THIS CORRUPT SYSTEM OF BANKERS ,INSURANCE SALESMEN AND POLITIONS WILL BE THE DEATH OF US.
IT ATTRACTS THE VERY SCUM OF SOCIETY AND EMPOWERS THEM

Representative western democratic government are full of sexual predators, the power attracts them. This is a scientific FACT. Study: Politicians share personality traits with serial killers Kouri notes that these criminals are psychologically capable of committing their dirty deeds free of any concern for social, moral or legal consequences and with absolutely no remorse. “This allows them to do what they want, whenever they want,” he wrote. “Ironically, these same traits exist in men and women who are drawn to high-profile and powerful positions in society including political officeholders.”

http://current.com/community/93332432_study-politicians-share-personality-traits-with-serial-killers.htm

Another scientific fact is DEMOCIDE .Death by government ,its humanities biggest killer! Democide is a term revived and redefined by the political scientist R. J. Rummel as “the murder of any person or people by a government, including genocide, politicide, and mass murder.” Rummel estimates that there have been 262 million victims of democide in the last century. According to his figures, six times as many people have died from the inflictions of people working for governments than have died in battle

http://en.wikipedia.org/wiki/Democide

POLITIONS SELL US STATE CAPITALISM AND CALL IT DEMOCRACY
State capitalism has various different meanings, but is usually described as a society wherein the productive forces are controlled and directed by the state in a capitalist manner, even if such a state calls itself socialist. Corporatized state agencies and states that own controlling shares of publicly-listed firms, and thus acting as a capitalist itself, are two examples of state capitalism

http://en.wikipedia.org/wiki/State_capitalism

OF COURSE THIS IS JUST FASCISM!!
Fascism should more appropriately be called corporatism because it is the merger of state and corporate power. Benito Mussolini, fascist dictator of Italy (1922-1943)

https://cuthulan.wordpress.com/2010/03/11/elected-dictatorship-posing-as-democracy/

A POLITION CANNOT TELL THE DIFFERENCE BETWEEN DICTATORSHIP AND DEMOCRACY
Direct democracy, classically termed pure democracy, is a form of democracy and a theory of civics in which sovereignty is lodged in the assembly of all citizens who choose to participate. Depending on the particular system, this assembly might pass executive motions, make laws, elect or dismiss officials, and conduct trials. Direct democracy stands in contrast to representative democracy, (UK, EU USA system)where sovereignty is exercised by a subset of the people, usually on the basis of election.(our subset of the people , all have the same financial backers and lobby groups, and are therefore a one-party-system of elected dictatorship)

http://en.wikipedia.org/wiki/Direct_democracy

https://cuthulan.wordpress.com/2010/01/14/a-direct-democracy-independant-scotland/

https://cuthulan.wordpress.com/2012/03/01/the-great-government-hoax-of-public-safety/

https://cuthulan.wordpress.com/2012/05/28/global-government-an-ongoing-disaster/

https://cuthulan.wordpress.com/2011/08/18/democracy-2-0-progressive-iceland-and-dictatorship-2-0-oppressive-britain-the-difference-between-true-democracy-and-elected-dictatorship/

WESTERN REPRESENTATIVE POLITIONS CANNOT RUN AN ECONOMY EITHER FYI 181ST IS LAST PLACE!!! NOTICE THE 4 BIGGEST DEBTOR NATIONS WHERE THE NATIONS THAT GOT LIED INTO ILLEGAL WARS! THEY ALL HAVE MAJOR ELITE PAEDOPHILE RINGS AS WELL…WHERE DID THOSE IRAQI WMD’S DISAPPEAR TOO?

Rank Country CAB USD, bn

1 People’s Republic of China 371.833
2 Germany 252.501
3 Japan 210.967
4 Saudi Arabia 95.762
5 Russia 76.163
6 Switzerland 70.797
7 Norway 59.983
8 Netherlands 52.522

176 Greece -44.218
177 Italy -52.725
178 Australia -56.342
179 United Kingdom -105.224
180 Spain -145.141
181 United States -731.214

http://en.wikipedia.org/wiki/List_of_countries_by_current_account_balance

This is a list of countries and territories by current account balance (CAB), based on the International Monetary Fund data for 2007, obtained from the latest World Economic Outlook database (October 2008). https://cuthulan.wordpress.com/2012/03/13/the-15-trillion-dollar-man-exposes-political-and-financial-fraud-and-corruption-on-a-galactic-scale/

https://cuthulan.wordpress.com/2010/02/08/is-the-us-already-bankrupt-and-trading-in-fake-gold/

ICELAND IS A TRUE DIRECT DEMOCRACY
IT MANAGED TO DEFY ITS CENTRALISED AUTHORITY AND REFUSED TO ACCEPT AUSTERITY MEASURES
IT ARRESTED THE GUILTY BANKERS AND INSURANCE SALESMEN AND POLITIONS
IT IS WELL ON THE WAY TO TRUE RECOVERY
MEANWHILE DAVID CAMERON TRIES TO SELL US THE FAKE UK RECOVERY
SO STOP LISTENING TO UNIONIST ECONOMISTS THEY TOO ARE LAIRS!!..THESE ARE THE SAME PEOPLE THAT TOLD US AUSTERITY MEASURES WOULD WORK?!?!?!
THEY WOULD START WORLD WAR III IF THEY THOUGHT IT WOULD HELP THEM POLITICALLY!!!!

VOTE FOR SCOTTISH INDEPENDENCE 2014!!!!

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