"Art consists of limitation. The most beautiful part of every picture is the frame."Gilbert K. Chesterton
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Debt Consolidation Home Equity Loans - Advantages And Disadvantages
Getting a home equity loan, or second mortgage, for the sole intent of consolidating and ultimately eliminating unnecessary debts is a great plan. Many consumers are burdened with high credit card balances, consumer loans, etc. Reducing or paying off ...
Debt Consolidation Services - 3 Things To Watch Out For With Debt Consolidation Companies
Debt consolidation services can provide a valuable service by lowering your interest rate with creditors, enabling you to pay off your unsecured loans and bills in a short period. However, there are companies that would rather take your money than ...
Free Credit Cards and Balance Transfers Allow You to Manage Your Debt Wisely
If you're being squeezed by the high interest rates and fees charged by your credit companies, it might be time to rethink your financial strategy. In today's marketplace, credit card companies compete for your business. You can take advantage of free ...
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We imagine that when we borrow money or owe money and fail to pay, we become a bad debt.
But when we see a bank making a profit of $10.64 billion, whilst boasting $3.28 billion of bad debts, we can be puzzled.
When the top brass of that bank tells us, that they are in the business of making money and only made $10.64 billion instead of $13.92 billion, we then understand, that a bad debt to a bank, is a failed fraud.
Banks have a monopoly business of issuing new money as credit.
This is a very lucrative business of making money out of nothing. Even if the fraud doesn't work, because the credit does not turn into money, a lot of money is still made. Someone accepts credit as a loan of money and then does not redeem the loan. The bank calls it a bad debt, even if the interest paid on the credit is an amount greater than what is owed.
When we realise how much money the banks spend on seducing us into debt, we can understand what the banks mean, when it gets a bit difficult to seduce us, as fast as they desire.
They then say that the economy is in a decline, that interest rates are too high, that recruitment of useless and destructive bureaucrats has cooled off a bit, that home seekers are outbidding each other with cheap money, with a little less frenzy and Douglas Flint of HSBC warns his shareholders that the rat race might slow a little, the runners getting weak, and difficulties lie ahead.
To HSBC bad debts are the debts they failed to establish. The loss of a few billion from a failure to redeem some of those loans, is dismissed as mere "upstick".
The hard graft of the Credit Trade creates a rising tide of prosperity for all banks. They are urged to unite in measures to set their frauds in solid gold.
About the Author
Dr Hamlyn is a founding member of the Royal College of General Practitioners, a veteran of WW II, retired farmer and practicing medical doctor. He is a prolific and articulate voice on the subject of monetary reform. www.monetaryreform.org
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 Debt or daily fee: Dow weighs Rohm & Haas options - Evening Sun
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