The Stock Markets and the Banks

[Cooky]

Can we live without them? Because it's come to my attention that they might be unnecessary entities that exist like leaches, sucking up our money for themselves, while producing nothing for us in return.

I often wonder why I should leave my directly deposited check in the bank... So they can claim more revenue to gain power for themselves? And then when I want to cash a check, they insist on a 14 day hold..? When I'm in need..?

Why should I care for them?

 

[Cooky]

If anyone has any complaints or issues with the markets or the banks, or any kind of supporting arguments, voice them here so we can all come to a better understanding.

Thanks for your time.

 

[Heyo]

The stock market and the banks have been great ideas when they first appeared. Banking allowed for more secure travel and more flexibility in transactions. The stock market was a way to finance big endeavours only few investors could stem alone (and even they preferred to spread the risk and not put all their eggs in one basket).
Both institutions have been perverted.

 

[robocop (actually)]

Don't use Zion's Bank. I worked for them once and they said the lean code could be a digit off. They kept someone's money because his signature changed. When my sister closed out her account, she said they didn't give her her money, maybe because it was small. My graduate school office mate said they offered him and his spouse a vacation but he never got it.

 

[exchemist]

Can we live without them? Because it's come to my attention that they might be unnecessary entities that exist like leaches, sucking up our money for themselves, while producing nothing for us in return.

I often wonder why I should leave my directly deposited check in the bank... So they can claim more revenue to gain power for themselves? And then when I want to cash a check, they insist on a 14 day hold..? When I'm in need..?

Why should I care for them?

We need banks and stock markets to supply the funds necessary to start and maintain the enterprises we rely on, for almost everything in our lives. The only attempts to forge societies without them (at a national level: I don't speak of monasteries or other select little communes of volunteers) have proved catastrophic.

Like all institutions in society, they need regulation, to keep them acting in the common good, and this regulation has, as often happens, not kept up with all their whizzo ideas . But trying to do away with them would be both a disproportionate reaction and wholly impractical.

 

[Revoltingest]

Can we live without them? Because it's come to my attention that they might be unnecessary entities that exist like leaches, sucking up our money for themselves, while producing nothing for us in return.

I often wonder why I should leave my directly deposited check in the bank... So they can claim more revenue to gain power for themselves? And then when I want to cash a check, they insist on a 14 day hold..? When I'm in need..?

Why should I care for them?

Suppose you didn't have a bank. How would you store
your cash? This has long been a problem, what with
losses due to fire, theft, & a fading memory.

Have you ever borrowed money to buy a home?
When buying real estate, banks are easier to deal with
than the alternatives, eg, insurance companies (who
only lend for large projects...many millions of dollars).

The stock market is useful for those of us who want
an easy method to buy or sell stocks. It's impractical
to just call other people seeing if they want to buy or
sell. The market gives us ready access to millions of
people, which makes stock a rather liquid investment.
Otherwise, we'd be stuck with what we have due to
the difficulty of finding buyers & sellers.

 

[Cooky]

Suppose you didn't have a bank. How would you store
your cash? This has long been a problem, what with
losses due to fire, theft, & a fading memory.

Have you ever borrowed money to buy a home?
When buying real estate, banks are easier to deal with
than the alternatives, eg, insurance companies (who
only lend for large projects...many millions of dollars).

The stock market is useful for those of us who want
an easy method to buy or sell stocks. It's impractical
to just call other people seeing if they want to buy or
sell. The market gives us ready access to millions of
people, which makes stock a rather liquid investment.
Otherwise, we'd be stuck with what we have due to
the difficulty of finding buyers & sellers.

Currently, my paychecks are directly deposited into my account. But to my bank's dismay, I withdraw every dime immediately, and just make deposits when I need to use my card.

I feel like it's a sin everytime I do it.
...I know they don't like me doing that.

 

[Shadow Wolf]

It's mostly a problem when people get even more money because they control all the money and do nothing for their money. Like how banks charge businesses a fee to accept their credit and debit cards, especially when it's basically impossible to live without some form of plastic (with a debit card often not being good enough).

We need banks and stock markets to supply the funds necessary to start and maintain the enterprises we rely on, for almost everything in our lives. The only attempts to forge societies without them (at a national level: I don't speak of monasteries or other select little communes of volunteers) have proved catastrophic.

Nit anymore. Plenty of modern enterprise gets funding through private means and donations, such as Kickstarter campaigns.

 

[Cooky]

It's mostly a problem when people get even more money because they control all the money and do nothing for their money. Like how banks charge businesses a fee to accept their credit and debit cards, especially when it's basically impossible to live without some form of plastic (with a debit card often not being good enough).

Exactly. That's one of the primary reasons I pull all my money away from them every payday... And just use them.

 

[Revoltingest]

Currently, my paychecks are directly deposited into my account. But to my bank's dismay, I withdraw every dime immediately, and just make deposits when I need to use my card.

I feel like it's a sin everytime I do it.
...I know they don't like me doing that.

Well there ya go....it's a way to opt out of using them.
But I find them extremely useful.

 

[exchemist]

It's mostly a problem when people get even more money because they control all the money and do nothing for their money. Like how banks charge businesses a fee to accept their credit and debit cards, especially when it's basically impossible to live without some form of plastic (with a debit card often not being good enough).

Nit anymore. Plenty of modern enterprise gets funding through private means and donations, such as Kickstarter campaigns.

A few things get going that way, sure. But where do you think the "private means" originates? From the profits of, or the salaries paid by, enterprises that make use of banks and stock markets. Nobody serious suggest these alternative means of funding will ever be a substitute for banks and stock markets.

 

[Revoltingest]

The stock market and the banks have been great ideas when they first appeared. Banking allowed for more secure travel and more flexibility in transactions. The stock market was a way to finance big endeavours only few investors could stem alone (and even they preferred to spread the risk and not put all their eggs in one basket).
Both institutions have been perverted.

Every institution gets perverted from inception. Banks & stock
markets are no exception. The issue is whether an institution
is useful. Banks & stock markets are very much so to me.

 

[Shadow Wolf]

A few things get going that way, sure. But where do you think the "private means" originates? From the profits of, or the salaries paid by, enterprises that make use of banks and stock markets. Nobody serious suggest these alternative means of funding will ever be a substitute for banks and stock markets.

The world is changing, old institutions are obsolete and holding us back. More and more we find people seeking alternative means to fund projects that don't involve banks and investors. Banks and Wallstreet can acknowledge this or get left behind like the Music Record Industry did.

 

[oldbadger]

Can we live without them? Because it's come to my attention that they might be unnecessary entities that exist like leaches, sucking up our money for themselves, while producing nothing for us in return.

I often wonder why I should leave my directly deposited check in the bank... So they can claim more revenue to gain power for themselves? And then when I want to cash a check, they insist on a 14 day hold..? When I'm in need..?

Why should I care for them?

You can change your bank, maybe?

In the UK most employees are paid by by a direct money transfer called BACS, bankers automated clearing services, and can draw on it directly. Why are you still paid by cheque?

 

[Revoltingest]

The world is changing, old institutions are obsolete and holding us back. More and more we find people seeking alternative means to fund projects that don't involve banks and investors. Banks and Wallstreet can acknowledge this or get left behind like the Music Record Industry did.

How does one fund projects without investors?
Let's say I want to build another self storage facility....
What's the new music industry approach?

 

[Shadow Wolf]

What's the new music industry approach?

Have their heads spinnig for years and end up sharing their power and income with streaming services like spotify, which themselves are still basically anti-Artist.

 

[Shadow Wolf]

How does one fund projects without investors?
Let's say I want to build another self storage facility....

By asking the general public rather than formal investors.

 

[Revoltingest]

Have their heads spinnig for years and end up sharing their power and income with streaming services like spotify, which themselves are still basically anti-Artist.

How do I use that to build my new self storage facility without investors?

 

[Cooky]

You can change your bank, maybe?

In the UK most employees are paid by by a direct money transfer called BACS, bankers automated clearing services, and can draw on it directly. Why are you still paid by cheque?

No, I do actually get my money deposited into my bank, I just call that money a pay "check", as it's the traditional term.

But I then take all that money out in cash. So the bank can't claim it in their "net holdings" to gain power or rank.

 

[Revoltingest]

By asking the general public rather than formal investors.

Are you saying it's like Kickstarter, where those
who contribute money have no rights or equity
in the project?
I doubt that they'd give me money to build my
facility. Typically, Kickstarter programs offer a
product to funders if the project survives, but
they're under no obligation to do so. Also, it
works when the benefit isn't restricted to locals.
Self storage has no benefit to anyone outside
my area.
But I can go to a bank, & easily get financing
for the whole thing from a single source.