Great explanation of loans/cards robbery

[jet set willy]

Hi all,

Dont know if this is the right place to post this but since we are mostly on the UE route here it is always a good idea to know how the game works before we can play it properly.

Hence i came across this bloke and he explains the system fantastically, even for idiots like me! I highly recommend checking his stuff out, apparently an ex bank manager on a mission! And easy to listen to for a change.

Hopefully it will be of help to some people out there.

Any thoughts would be great. He seems highly committed to bringing the banking fraud to the public eye and good for him.

Cheers folks

Linky: How Loans and Credit Cards Really Work - by White Rabbit - YouTube

I should add that though it is fifty odd minutes long it is well worthwhile!

[Enforcer]

Re: Great explanation of loans/cards robbery

Good presentation. Watched the lot.
I have already done as he suggested. Police do not want to know, will not get involved regarding disputes over bank agreements. OFT will not help in the case of an individual, nor will the FSA, The prime minister refers your letter to the Treasury, who refer to FOS. They do not have a remit over the enforceability of agreements, and unless the bank admit?? that they do not have an enforceable agreement, HAVE to find in favour of the bank. Spent 2 years writing letters and still getting nowhere.
Lets hope that Trading Standards will do something.

Niddy has managed to get this information onto Google. The General Public need to be made aware. see Barclaycard & Right of Set Off.

[julian]

Re: Great explanation of loans/cards robbery

Yep! Debt is a commodity to be traded. It is an invisible commodity or service like insurance. As there is value added each time it changes hands, should it be subject to VAT? Thereby making it not only a fraud, but tax evasion as well.

They got Capone on tax evasion, what about doing the same as the bankers who have killed more people with their threats and harassment?

[jet set willy]

Re: Great explanation of loans/cards robbery

Glad people found it helpful! It was quite an eyeopener for me i can tell you.

@Enforcer, i see you are in Mid Wales, wondering if one day i will find out you are my next door neighbour lol

Small world. Debt slavery reaches all four corners of our green and pleasant land (even the valleys haha)