BANKS : "WE DON'T HAVE TO BE FAIR"

The banks are in the dock over bank charges.

The OFT is arguing that ridiculous charges for overdrafts are not set out clearly under current unfair contract terms. The banks argue they are, and anyway, they don't have to be fair.

I have personal experience of this when I was charged the equivalent of 50% for an overdraft. I understand there are people who have experienced much more outrageous charges for going just a few pence or pounds overdrawn and charged £30 or more.

The banks argue that they don't have to be fair.

This is the classic attitude of the banks, and supports the thesis that I and many others have claimed; that the banks have totally abused the power they have to create money out of nothing, pass it off as if the Bank of England had created it (because we use BofE notes, not NatWest, HSBC notes etc), and then use that money they created out of nothing to finance world wars and bloody revolutions which kill tens if not hundreds of millions of civilians.

In a word, this argument shows the attitude of the banks; arrogance.

They argue that they don't have to be fair to us to protect a nice little £3.5 billion earner.

They use our money!! The cheeky bastards.

We are slowly being forced into depending on them due to the slow introduction of the cashless society in preparation for the microchip implant. Our wages etc go straight into bank accounts and are not paid in cash. And because of that they have more control over our money than ever! And now they argue they don't have to be fair!

I read that some of the traitors to the human race protecting the banks in this case are charging £1000 per hour, and have already clocked up £1m each in fees!

This court case will show the banks for what they are;
they create money out of nothing, and can turn this shithole world into heaven very easily, but instead they finance world wars, genocidal dictators and bloody revolutions to give them more power, and then argue they don't have to be fair to us, the people who unwittingly give them the power to create money out of nothing in the first place.

This may also go some way in increasing the call for the power to create money out of nothing be stripped from the banks and given back to us, the people, so we can decide who is given money.

I am convinced that if, in the first half of the 20th Century, the Federal Reserve and the Bank of England were not privately owned but were in the hands of officials elected into office or appointed by elected officials, and given responsibility for stabilising the economy and regulating the currency then neither Communism nor Fascism would have existed and World War 2 would have been avoided.

The banks, with this power to create money out of nothing, have never been fair to us. And the way in which the banks are defending their outrageous overdraft charges is classic; "we don't have to be fair".

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from http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=508881&in_page_id=1770

Banks argue that there's no reason for them to be fair, as court battle on overdraft fees begins

By BECKY BARROW and JAMES CONEY - More by this author » Last updated at 00:46am on 18th January 2008


The banks contend that they do not have to take fairness into account when calculating overdraft fees
High Street banks claimed yesterday that overdraft charges which rake in billions of pounds a year are not subject to normal 'fairness' rules.

In the first day of a long-awaited legal battle, the banks insisted they have the right to charge the fees that can be as high as £38 even if a customer has slipped only a few pence into the red.

Campaigners claim the actual cost to the bank is as little as £2.50.

Experts estimate that banks make about £3.5billion a year from unauthorised overdraft fees.