Blog 31

While we all suffer from the antics of the financial services industry [I use the word 'industry' cynically here], the list of the bankers less than socially acceptable misdoings coming to light grows ever longer. I read this morning [mid-2009] of banks in the USA in receipt of Government bailout money doubling their credit card interest rates and increasing the cost of most of their other services to their customers.

In these days of electronic money and instant stock market gambling that follows the sun around the world, why is it that a simple bank transfer from Dubai to Turkey takes over 7 days? [personal experience]. The answer is simple enough, while money can whiz around the world at the speed of light at the behest of those involved in wealth manipulation schemes set up by the banks, the money they are using to gamble with is that which belongs to you and I while supposedly in transit from one bank to the other.

Since it's no longer necessary to send money from Dubai to Turkey by camel it really is about time the banks enabled instantaneous money transfers for the general public as well as for their cronies in the financial services sector. But that wouldn't really be in their money grubbing interests [no pun] now would it?

See also:
- Who creates the ‘real wealth’ in the world?
- Fraudulent Bankers