Recently, I re-read the book “The Freedom Bell Curve” by Robert Minteer. The author (who happens to be my brother) makes a strong case for why most businesses and institutions function like a pyramid scheme, economically enslaving the people at the bottom. The “Topsoppers,” those at the top of the pyramid scheme of power, derive their power from the “Mopsoppers” (those companies and individuals caught on the corporate ladders trying to work their way up to become Topsoppers) and the “Boppers” (those at the bottom working like slaves and hoping to someday “arrive” at a Mopsopper standard of living).
Whether it’s the government, the legal and medical professions, insurance “industry” (though they produce nothing), the banking establishments or any number of other big businesses making up the Topsopper and Mopsopper organizations, their success and riches come at the expense and hard work of the Boppers who make up the common factory line worker, tradesperson, craftsman, burger flipper and cubicle geek. The majority of those who buy all consumer products are Boppers, often borrowing money to do so.
The Topsoppers and Mopsoppers are always at varying times acting as the middlemen in trading, setting the prices and terms. Minteer says, “In any trading, when the terms of the trade fluctuate, one trader gains and the other loses – but the middleman always gains.” The ones who lose are most often the Boppers – the workers at the bottom who are also the consumers. The system is set up against us. And the banks play a large role in helping things stay that way.
What have banks really done for us? Hmm…let’s see…
1. The banks make money by paying us a token interest rate on our deposits, and then loaning them out at a much higher interest rate. They NEED us to make money. Yet currently, it’s an insult what banks are paying as savings account interest rates – a fraction of one percent! It amounts to nothing for the average person who saves.
2. The banks make money by practicing fractional reserve lending whereby they in effect can loan out ten times the amount of actual deposits that they have on hand. But what if all the depositors want their money all at once (it has happened before, and will surely happen again)? No problem, you say, the banks are insured through the Federal Deposit Insurance Corporation (FDIC). Do you want to try to get your money back from the government during a crisis? The government will first bail out the Big Boys before worrying about the Boppers.
3. Even without your borrowing, the banks make a killing from the average “customer” by charging fees and penalties. A few bucks from everyone, month after month. It’s robbery. Less and less people are saving money so the banks have resorted to another means of extortion.
4. The banks (including credit card companies) encourage the average consumer to borrow and borrow, though it is stupid. They want to keep us in bondage, ever paying back interest and needing to borrow more and more.
So the basic obvious question is this: What good to us is our money in a bank, or using a bank for anything? We’re getting paid squat for interest. In a crisis we may not get our money (especially in a timely manner) so it’s not necessarily safe or liquid. And in reality we’re losing money just to keep it there or do business with them.
We need to “begin the process of ceasing our support” to the pyramid scheme. The first and most important thing to do is to get out of debt by any means possible – by selling stuff, selling everything if necessary and starting over, working overtime, downsizing and paying off all debt!
Then, strongly consider whether you need a bank for anything! Do you REALLY need your credit card or debit card? You can survive without a checking account. Do you need the bank’s “great” interest payments on your savings account? Do you need their hassle? Seriously, what good are they? HAVE YOU MADE MORE FROM THEM THAN THEY HAVE TAKEN FROM YOU?!
What’s wrong with using cash and coin anyway? The banks (and others) have lied to us to get us to stop using cash, coins or just plain trading and bartering!
Think about it, if we all got out of debt and then saved our surplus money safely ourselves, to invest how WE (not the banks) wished, that would greatly limit the banks’ power.
Wouldn’t that transfer a great power back to the people? Yes! Let’s do it. Let’s QUIT SUPPORTING THE PYRAMID SCHEME!