A question of time.
Some general questions that are puzzling me. Any thoughts to clear my mind would help. I feel like a lost soul. I question the meaning of life. I look back and see what is the point of all this. What human rights do I really have? I need to eat, drink water, have shelter, and of course need loving. I am a family man that needs to feed children so that they become wise, educated and law abiding. Is this not my basic right? If these have been taken from me, is that legal? I have not accepted in anyway for the bank to play with my money.
In this life we only have the banks from which we can trade. We have created money as a means to trade. We have created the banks to provide security for trading and to permit us to conduct our transactions. We have created capitalism. However what this is saying is that there is no fundamental basis on which business can be done risk free. That is true, that is what business is about. However when we do business we control the actions and we also control how, where and what these actions are. We also delegate and sub contract some works. I have employed effectivley the bank to carry out banking services for me.....This all leads to a circular argument, analysis, call it what you want but it leads me to total confusion - and one conclusion:
It is a dog-eat-dog world and it really is the survival of the fittest!
The context of 'dog' and 'fit' is what you are or want to be.....
Some P&Q's:
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I have a company account. I therefore had access to all the funds. That is to say I could have requested a balance transfer of the entire amount minus the minimum amount to keep the account open within 24 Hours via Telegraphic Transfer.
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If this is the case then I pressume the funds should be available within IOM?
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Also I have not signed nor agreed for my money to be held anywhere else and for any other purpose. It is merely for business and nothing else. No permission for purchase bonds, stocks, shares in any other company. Nor have I given permission for them to use my money for any other purpose.
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I pay for this service annually.
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My company has become stagnant and cannot trade until this matter is resolved. My customers are also hammering my door for services that they have paid for. Do I also liquidate and cause these customers the same hardship? So there is a macroscopic perspective with respect to KSF (IoM). There are also the microscopic issues that have now been created. The sum of all these problems of businesses being effected are collectively as big if not bigger problem than that of KSF (Iom). Did anyone read the article about Richard Branson and the potential of Virgin Atlantic
collapsing because of HBOS:
http://www.foxnews.com/story/0,2933,437001,00.html
This is scary and bank should be 100% accountable! They accounts should be protected by law.
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Now KSF (UK) funds were frozen. Which I am led to believe holds 60% of the liquid assets of the KSF (IOM). However what is 60% of my money doing in the UK. I never asked it to be there. I opened an account with KSF (IOM). I expect my money to be there.
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There are a few other things boggling my mind. So If I have paid for a service. Not only have I not received it I am told I can't get nothing back. Is this not illegal?
On a last point:
Does anyone think that if we have a cordinated worldwide demonstration from all investors, creditors etc. at the exact same time, perhaps in front fo the KSK banks in each country that would help. I think the gravity of this needs to be known, from the perspective that the fundamentals of banking need to be protected 100%. Only in this way will we have worldwide media converage. The one risk that we have is that time will heal the wounds but it will also have an adverse effect that people in the masses will have other things on their minds the think about and slowly this will all be forgotten. This is the natural human trait....
What banks do
The bare facts of the matter are that banks work using a system called 'fractional reserve'.
They take your money in, add it to a big pool, and then lend most of it out. They need to do this to earn the interest that they pay on deposits. It's part of the deal when you loan them the money. It's an important part of the way the economy works and grows.
A small part (the fractional reserve) is held back to allow day-to-day dealings - withdrawals, transfers, payments. The system cannot cope with everyone wanting to withdraw their money though, as it simply isn't all there. That's the case with every bank.
The Isle of Man is only a small economy, so there isn't much opportunity to loan or invest money on the island. Hence it was mostly loaned to KSF UK, who will then themselves have loaned and invested it in the UK.
A bank account is not a safety deposit box - and there was never a little pile of bank notes sitting either in Douglas or in London that were dedicated solely to your account.
You are quite correct that bank failures are really bad news - they do domino through other companies that lose their operating funds.
Fractional Discourse
I have paid for the service for them to store the money and give it back to me. I have not signed up to anything for them to embezzle my money.
It is common knowlegde how banks use the money. The fact is the basis on which banks operate should be tiered. That is 100% gaurantee by the bank and by law that money is held available. The other is bound to risk which gives the ability to pay more interest for accounts that require a notice. The fact that the notice accounts pay more money permit banks to add delay elements to permit them to due their work, making money. However the interest that I was earning was peanuts. Hence I had given no permission to be included in the fractional reserve part of their business. In fact this means that I was being paid less interest, I should therefore have proportional less risk, and in the limit where I want instant access I want no part in the fractional reserve game!
When I signed the contract there was no mention of them playing with my money. No information of fractional reserve. No mention of my money going up and down in value and any risks with it. Hence I have been given the wrong information. One could state I am niave. Sure, perhaps, maybe, the fact of the matter is why am I subject to something I did not sign up for?
This whole business seems like one can get away mugging someone as long as one wears a suit and tie and has a decent pen in his pocket! Perhaps I should inform all the hoodies to buy suits and shirts and they will be protected! Put it another way I have learned a lesson that if I would next time subject myself to being mugged it would be far cheaper to walk down a ghetto!
I am thinking of taking up a new business of legal mugging. It seems very profitable!