- Thomas Stones
This conversation is closed.
Instead of providing our funds to banks we should invest in local businesses, and our communities directly.
Banks and globalisation have led to a loss of local focus and restrict the ability of individuals and communities to enhance their own lives with the resources that they have available. Whilst banks pool our funds, they are compelled to operate on a purely competetive basis, investing globally. At the same time, private placement laws and legislation mean that banks are the only sources small, local and community businesses can turn to for financial support.
As a result, individuals lose potential profits they could be making by investing on their own behalf, rarely see the benefit of their own resources in the world around them and face risks that are, due to their global nature, completely outwith the scope of their daily lives and control. Instead, banks have become some of the most powerful institutions in the world by opening communities to global risks using resources which are not their own and which they are rarely held accountable for the use of.