Are the banks robbing savers?

In addition to all the comments in this topic, the earningsreports of AIB and BOI tell you all you need to know. Recordprofits across the board.

So yeah, banks in Ireland are robbing savers.

But most people don't get to cash in those inflated assets... Are you talking about taxing the profits on inflation?

They already are. It varies from bank to bank of course.

That's stating the obvious. Propertytaxes are already in place. I think this discussion needs to be focused on whether banks are robbing savers, which they are.

Discussing how governments have created the current chaotic insanity is a whole other kettle of fish.

Agreed. Saving money serves a purpose, whatever that purpose is. But it's not working anymore.

What this current fraudelent system is lacking is that risktakers are rewarded and the prudent and risk-averse are punished.

Just look at the recent downgrade of the US rating, it shows you that running mindblowing deficits and out of control spending beyond means barely has consequences. Yes it's a downgrade and yes, it has consequences. But those consequences are just passed on to taxpayers, savers and pensioners and doesn't seem to deter a small group of people to just continue racking up debt.

It's hard to find an actual number but just to serve the interest on the debt will be a trillion dollar a year soon enough. That amount is already staggering and still increasing by the day since they have to roll over the cheap debt which was possible due to financial repression and the creation of new money by artificially lowering the price of money. I read that it's up by 25% already for the first 6 months of the year.

The new debt that is needed, based on realistic interestrates, is proving to have serious repercussions. But do average Americans see their standard of living improve? Their infrastructure? Their pensions? I only mention the US because it's the most blatant example of fiscal irresponsibility and fraudulent policies. Sadly, Europe isn't much better.

I can completely understand the rise of the BRICS nations that are fed up with being forced to live within this fraudulent environment.

And so where arrive back on the topic of banks robbing savers. It started with fraudulent central bank policies which created phony wealth.

Never in the history of mankind did money have a negative interestrate. In other words, labour had become worthless just to blow bubbles into virtually anything. Inequality is at an alltime high. And who benefits? A tiny minority of bankers and wealthy elites.

This doesn't end well but sadly, like always, the price will be paid by the poor, the powerless and the general taxpayer.