Is banking immoral?

I think the banking system we have is inherently unstable and that is the problem with it.

The problem is not bankers or bad people. The problem is the money system itself.


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But as you can't get rid of money, you may as well embrace the City!

bankers keep our money safe-what could be better than that and top do that,they have to generate a profit,which utilises massive amounts of money and pumps it into the economy.

bankers keep our money safe-what could be better than that and top do that,they have to generate a profit,which utilises massive amounts of money and pumps it into the economy.

But as you can't get rid of money, you may as well embrace the City!

Basically, bankers facilitate the lending of money from those who have it to those who want it. Be that you with a mortgage, or a new business in need of investment. They decide who to give it to, rates to charge, etc.

bankers keep our money safe-what could be better than that and top do that,they have to generate a profit,which utilises massive amounts of money and pumps it into the economy.

Would we be better off without the bankers and spivs that occupy the City of London?

I don't care what they do with regards to trading and lending, as long as they bring money to the country they can do what they like

I am not against money, I am against fiat debt money that banks create when we take out loans.


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I don't remember anyone calling it immoral when they were getting cheap morgages for properties they could never afford.

I don't remember anyone calling it immoral when they were getting cheap morgages for properties they could never afford.

Stop being so goddam naive. You get all this crappy info from the media which again spins out the same old bulls*** because it sells. Banking and the City of London as a whole are very important. There haven't been "endless" bailouts, there have been 1. You want to know why Spain etc. are in such a dire state? Look at the Government, look at the EU, not the banking sector.

It's important that you don't take everything you read in the papers as gospel, because beleive me when I am reading the evening standard, I'm staggered by the lack of actual information and the amount of crap about banking that gets spun into a story.

Another thing which doesn't help, is out even more incompetent MP's. Example: Vince Cable, our BUSINESS (!) secretary on the Andrew Marr show this morning, moaning about Investment Banking (or 'Casino' Banking how he likes to call it, again emphasising his complete lack of awareness) The guy has not worked in the industry, doesn't know how it operates and yet is instigating what happens to the banks and is filling the minds of the general public with the same ould crap because it is what people want to hear.

The City has a major part to play in the UK. Dumbing it down would be suicide to Britian and to our general competiveness, we don't do manufacuting anymore due to the EM countries, so Britian has and will continue to invest in Financial services.

All I can say is please don't be mislead by the Media and politicians becuase they don't know s*** quite frankly.

1) I have a reasonable understanding of the banking system. In the past I've contacted the BofE directly via email to ensure my facts were correct and I've also consulted various sources; ranging from blogs that analyse monthly BofE data; to MPs' speeches on youtube; to books by authors held in high esteem; to the Bank of England website itself. I'm no expert, but I'm qualified enough to talk with confidence on the subject. Where do your expertise come from?

2) You'd have to be incredibly arrogant to ignore everything the papers say on the subject. Journalists such as Robert Peston, Jeff Randall and Ambrose Evans-Pritchard for example are very well placed and far more knowledgeable on the subject than I am, so I take their opinions seriously.

3) Banking has a part to play in any modern economy of course it does, but the fundamental model isn't as complicated or imortant as many people make out. My argument is that the banking fraternity are the beneficiary of a corrupt economic regime that is skewed toward easy gains in the housing market at the expense of genuine productivity: the bankers supply cheap credit (and get paid handsomely for doing so) while homeowners and landlords enrich themselves with ever increasing house prices. If we taxed away these riches with a land value tax for example banking wouldn't be so prevailent and we could redeploy bankers into areas of the economy that add real value.

1) I have a reasonable understanding of the banking system. In the past I've contacted the BofE directly via email to ensure my facts were correct and I've also consulted various sources; ranging from blogs that analyse monthly BofE data; to MPs' speeches on youtube; to books by authors held in high esteem; to the Bank of England website itself. I'm no expert, but I'm qualified enough to talk with confidence on the subject. Where do your expertise come from?

2) You'd have to be incredibly arrogant to ignore everything the papers say on the subject. Journalists such as Robert Peston, Jeff Randall and Ambrose Evans-Pritchard for example are very well placed and far more knowledgeable on the subject than I am, so I take their opinions seriously.

3) Banking has a part to play in any modern economy of course it does, but the fundamental model isn't as complicated or imortant as many people make out. My argument is that the banking fraternity are the beneficiary of a corrupt economic regime that is skewed toward easy gains in the housing market at the expense of genuine productivity: the bankers supply cheap credit (and get paid handsomely for doing so) while homeowners and landlords enrich themselves with ever increasing house prices. If we taxed away these riches with a land value tax for example banking wouldn't be so prevailent and we could redeploy bankers into areas of the economy that add real value.