The dangerous lives of bankers working in Joburg

Techne

Honorary Master
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Sep 28, 2008
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10,985
#41
It can cause poverty in certain circumstances... Which can lead to crime.. It is not the leading cause for either...

Let's assume we do away with it.. What would you replace it with then?
That is a question that this generation will have to figure out. Probably the most important one.
 

Jabulani22

Senior Member
Joined
Feb 11, 2017
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803
#42
It can cause poverty in certain circumstances... Which can lead to crime.. It is not the leading cause for either...

Let's assume we do away with it.. What would you replace it with then?
Hold on a sec and why dont you go ahead and explain why it is so great , then i can give my replacement system.....heres a hint , it wont be predatory and biased against already poor/middle class people.
 

ToxicBunny

Honorary Master
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80,517
#43
Hold on a sec and why dont you go ahead and explain why it is so great , then i can give my replacement system.....heres a hint , it wont be predatory and biased against already poor/middle class people.
Cute but no.. You want to do away with it.. So what would you replace it with.
 

RedViking

Nord of the South
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Feb 23, 2012
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#45
I did not no what usury means, but I agree, personally I think it should not be legal. It keeps those in poverty, in even further poverty. In fact, most (who I know anyways) who take out these high interest loans have no idea how it works or understand it.
 

RedViking

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#46
It can cause poverty in certain circumstances... Which can lead to crime.. It is not the leading cause for either...

Let's assume we do away with it.. What would you replace it with then?
I think it keeps people in poverty, rather than cause it.
 

RedViking

Nord of the South
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Feb 23, 2012
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19,046
#47
You do miss a lot dont you ......Non predatory lending practices, you want to keep it so justify it .
But he's got a point. What will you replace it with.

I get a salary of R4000. I have to support a family of 8 where I am the only one with work, they live in poverty, I stay with my boss but still have to pay 800 for transport to see them, food also for myself. The roof leaks at my family house, there is no water because of draught, food is very expensive, kids need school stationary, my daughter is sick, gas stove is broken. No electricity. I go to Africa bank and they give me a loan of R25000 rand to fix and pay everything. That money finish. Now I have 3000 a month, and 1000 for Africa Bank. Now I borrow more money every month to survive. And so on.


It is a vicious cycle. A bank should NEVER have given someone with a salary of R4000 a R25 000 loan, never mind the stupid high interest rate. But they make a hell lot of money at the poor becoming even poorer.


What is the solution?
 

Jabulani22

Senior Member
Joined
Feb 11, 2017
Messages
803
#49
But he's got a point. What will you replace it with.

I get a salary of R4000. I have to support a family of 8 where I am the only one with work, they live in poverty, I stay with my boss but still have to pay 800 for transport to see them, food also for myself. The roof leaks at my family house, there is no water because of draught, food is very expensive, kids need school stationary, my daughter is sick, gas stove is broken. No electricity. I go to Africa bank and they give me a loan of R25000 rand to fix and pay everything. That money finish. Now I have 3000 a month, and 1000 for Africa Bank. Now I borrow more money every month to survive. And so on.


It is a vicious cycle. A bank should NEVER have given someone with a salary of R4000 a R25 000 loan, never mind the stupid high interest rate. But they make a hell lot of money at the poor becoming even poorer.


What is the solution?
Non usury , loans given at responsible amounts with reasonable interest .
 

Jabulani22

Senior Member
Joined
Feb 11, 2017
Messages
803
#51
No... I wasn't the one who brought this concept up... You did and you want to do away with it so explain your replacement...
Yeah we went over this already and i did , your turn thats how discussions work , its not just this-
Well thought out statement with good intentions vs nah uh usury is good
Further rebuttals and examples of why it is bad vs nah uh you are hating it bcoz you got glasses on.
Further points made vs acceptance of point but nah uh you give new system .
gives new system and asks for evidence of usury being good vs nuh uh you said its bad you justify that
repeat x infinity.
 

RedViking

Nord of the South
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Feb 23, 2012
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19,046
#52
Non usury , loans given at responsible amounts with reasonable interest .
They won't give low interest to high risk borrowers. They won't get the return they want and the system will collapse. Banks have no morals, they do not care about the impact it has on lives. So low interest can not be a solution.
 

RedViking

Nord of the South
Joined
Feb 23, 2012
Messages
19,046
#54
Yeah we went over this already and i did , your turn thats how discussions work , its not just this-
Well thought out statement with good intentions vs nah uh usury is good
Further rebuttals and examples of why it is bad vs nah uh you are hating it bcoz you got glasses on.
Further points made vs acceptance of point but nah uh you give new system .
gives new system and asks for evidence of usury being good vs nuh uh you said its bad you justify that
repeat x infinity.
I know you and bunny are having a good time but I am interested to hear from an expert what the solution is. Low interest rates will not work. Maybe The only solution is not to give the loan and goverment needs to find a way to get rid of the massive gap between rich and poor.
 

Jabulani22

Senior Member
Joined
Feb 11, 2017
Messages
803
#55
They won't give low interest to high risk borrowers. They won't get the return they want and the system will collapse. Banks have no morals, they do not care about the impact it has on lives. So low interest can not be a solution.
Then no loans to "bad"risk , just dont make others foot the bill.
Ever notice how when a bank goes under that they never have enough to pay everyone ?
Ever notice how when a bank goes under and gets bought by another how the debt doesnt disappear ? How can you be bad risk if the debt never dies ?
 
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