Banking: Price Increases …Insatiable Greed

Posted: May 31, 2011 in Uncategorized

I received a letter in the mail last week informing me-telling me- of a number of banking price increases. I apparently have no say in this, I, the tiny consumer who is making them daily more mega rich, is simply `informed`. They, the bank, have all power. Why…because money is power and they have all the money.

This letter tells me the statement copy or sales slip replacement fee is going from $2 to $5- an astonishing 150% increase- so if I`m so sloppy and negligent as to actually misplace one of these forms and need to `bother` their busy staff with the daunting task of printing out another slip of paper-I pay and I pay big. I wonder how many seconds it takes to print out another sales slip and what the cost of that piece of paper is to the bank…a few cents is my guess. The banks motive is not saving trees, the banks motive is and always has been the `bottom line` profit, pure and simple.

There is an òverlimit`fee increase from $25 to $29 per month and a `dishonered payment` fee increase from $25 to $40 per month. So once again, those who are having a hard time making ends meet, those who can afford it the least, are penalized, kept down, impossible to get out of debt and create financial stability. They attempt to disguise it as incentive, discouraging people  to not default on payments,  I don`t buy it. I`ve been in that position-it`s not that you are irresponsible but running in circles trying to make ends meet-paying rent, raising children, buying food!

Speaking of  ridiculous charges, how about each time you go to the bank machine! I pay a monthly fee of $25 to the Bank of Montreal so when I use their bank machine there is no èxtra`fee. However, should I use another bank machine (in Canada there are 5 major banks and about 5 other major trust companies) I get charged $1.50 to $2 ! It started at $1 and just keeps going up, I try to find a Bank of Montreal machine but sometimes its just not possible, I am left, once again, at their mercy.

I wonder what the math is on that; imagine each time someone uses a bank machine `cha-ching` the bank makes $1.50. It`s automated so what`s their cost…can`t be much. Toronto is a huge city of  2.5 million people. Let`s say 5% of them use a bank machine each day- that`s $187,500 in one day! (be it for all the banks-all 10 of them)

That`s $5.5 MILLION  in one month. That`s 67.5 MILLION DOLLARS in one year–just from Toronto.    It looks like this   $67,500,000.00   Canadian dollar on par with U.S. dollar at this time.

THAT`S JUST FOR ONE SERVICE…IN ONE CITY.  I am guessing pretty much all profit and it goes to individuals -not government.

It`s big business folks and it steals from you !

Now, you could say change banks but they are all basically them same and in competition with one another. It`s big business. It would be one thing if our banking system was controlled by the government and I knew-like my taxes-these charges = my hard earned income-was going to the running of my community and province for all citizens. There is some small control but the banks are corporations and there is little government intervention.

By the way, who are the `Banks`anyway…we tend not to think of them as individuals but they are, when you trace it back, families-old money-who own these powerful money making machines and they make billions. do they need more…

Mortgages! By far, most of us can only afford to pay the interest on our mortgages and by the time 25-30 years has gone by we have paid 3 to 400,000 dollars for a $150,000 house.  No way to get out of debt, no way  to change our circumstance. Now, I`m not complaining that I have a mortgage, I am grateful for my home but I do not accept that this bank needs to take my money and accumulate more wealth. It is not best for all that their reserves =wealth grow and grow while 95% of the population struggles

In an equal money system, all would be treated with fairness and dignity, no one person deserving or receiving more than another-not only the right to life but a life worth living. No one starving while the elite few fill their insatiable lust for more..more. Everyone having ènough`, all they need. Please join us at Desteni where we are discussing, and in fact documenting these possibilities in an Equal Money System Book. Placing concepts into practical application format. Much to do, nothing more worthwhile. Check out EqualMoney.Org today!

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