Gas Is a Hot Topic, Why Not Banks?

Okay, I know we all are hurting with the price at the pump, but, banks are gouging us and we don't even whimper about it. Their profits are just as huge as oil companies, and they can not claim that it is due to world demand and supply. They can not claim it's a non-renewable resource therefore scarce, and banks get to create money, don't know of any oil company that can do that!

They prey on the most helpless and make us feel like we should be happy they will take our money.

Canadian Banking fees

So, you go to an ATM and withdraw $20 and pay $1.50 for that privilege. That's a 7% charge for one transaction. A savings account nets you .05% per month, not per transaction! If you keep $1000 in savings, that's a whole 50 cents a month!! (I find more than that in coins on the ground per month) Then add to that their service fees, usually $15 or more per month, $180 per year, and for what?? They get to use your money to lend it out or invest it at much higher rates than .05% I won't even start on credit cards, that's such a racket it's disgusting!!

I do all my banking over the internet. I only actually go into my branch when I need a money order for something I bought on ebay, add another $5+ per money order for that little privilege. My pay is automatically deposited, most payments are automatically deducted, by computers, not a teller.

So, why are we not up in arms about banks and their massive profits, earned on the backs of low/middle income earners? Why do we cringe when we have to go for a loan or a mortgage? Heaven help you if your credit rating isn't up to snuff!

Banks have us brainwashed into believing that they are helping us, when just the opposite is true. Without our deposits, banks can not create money by loaning it out. Personal deposits make up a huge proportion of a banks deposits but they cater to businesses, not individual depositors.

I often think that if we all decided to not use any ATM machines, debit cards or credit cards, for just one day, we could make banks sit up and notice who really has the power. Can you imagine the panic in the banks when everybody comes into the bank to ask for real money? (and the lineups)We could stop the whole economy for a day, but I wouldn't do that, our poor elderly people would panic.

It's nice to dream of making banks understand that the smallest depositor matters, because without us, they have no lending ability!