Okay it has to STOP here, now…
The banks have gone too far!
THERE IS NO CREDIT CRUNCH
They are making it up to save their skins and the only way to stop them is to hit where it hurts.
SET ASIDE THE MONEY YOU GIVE THEM EVERY MONTH FOR YOUR MORTGAGE AND STOP PAYING THEM
I have a way around using banks which I would like people to consider. Forming co-operatives!
When I was growing up in the 1960’s and 1970’s there were a lot of co-ops. I especially remember the farming ones as my father was in horticulture.
The Wikipedia definition is as follows:A cooperative (also co-operative or coöperative; often referred to as a co-op or coop) is defined by the International Co-operative Alliance’s Statement on the Co-operative Identity as an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.
My understanding is that several hundred people will get together and fund a project which they each own a part of.
I’ll give an example.
Obviously this is over simplified. However it illustrates the beauty of the scheme… NO INTEREST!
I need to raise £250,000 to buy a house.
I find 500 people willing to pledge £500 a month who also need to buy a house and they put their names on a list (I am one of these people).
When I have sufficient pledges from people I pay for the house and I live in it. Everyone on the list owns it.
The following month everyone pledges £500 (including me) and person 2 buys a house.
The following month everyone pledges £500 (including me and person 2) and person 3 buys a house.
And on, and on, and on…
This is NOT A PYRAMID SCHEME
Everyone pays the full price for a house.
Everyone owns a part of every house.
If someone defaults on a payment or wishes to leave the scheme the group take possession of the house, sell it, or let someone else live in it.
Just like a pyramid scheme it works by taking a small amount of money from a lot of people. Unlike a pyramid scheme you see realistic returns from the moment you invest and you don’t to rely on anyone else below you in the scheme to do their bit. You are all equal. If you don’t pay you don’t get a return, simple.
Unlike a mortgage it works by completely solving the problem of interest, no-one pays any interest.
It even works better than described because the houses go up in value and everyone benefits from the equity.
It may even be that only the first 100 people want to buy houses, the next 200 are mid term investors and the last 200 are long term investors.
Property is a very lucrative business and quite hard to get into if you are a small investor, a scheme such as this would certainly pay better dividends than a pension plan.
I for one am going to find out more, no better place to start that to watch It’s A Wonderful Life over the holidays.
In the mean time, I still want to see the interest rates come down.
FORWARD THIS MESSAGE TO EVERYONE YOU KNOW.
STOP PAYING THE BANKS
I said in my blog the other day “money is energy”.
If money goes where energy flows let’s just analyse what has been happening for a second and look at “the credit crunch” in a different way.
The banks have been lending money for years. Where is the money flowing? To the people.
The banks are now trying to claw money back, only THEY HAVE LOST…
IT’S TOO LATE…
The flood gates are open.
LET MONEY FLOW BACK TO THE PEOPLE WHERE IT BELONGS…
STOP PAYING YOUR MORTGAGE NOW