Since Colorado and Washington have been engulfed in a cloud of pot smoke, that means a lot of people making lots of money selling legal weed. Problem is that not a single bank will touch that cash for anything— even though pot is legal in Colorado and Washington for full recreational use, banks are still regulated by the the federal government and marijuana is still illegal at the federal level. Meaning any banks knowingly keeping money made from the sale of weed put this at a very real risk of gigantic federal fines, closure or both. So this means is a big problem for weed shop owners, who have to store and transport cash like it was the wild west— huge sums of cash with a car full of shotguns to prevent robbery.
Since the financial meltdown of 2008, banks now have been incentivized to become even bigger, knowing that the larger they are and the more they have their tentacles into every tiny aspect of everyone’s lives, the more they fall into the “too big to fail” category, making them immune from prosecution and ensuring a steady stream of government subsidies to keep them profitable and healthy.
Lately, the news news and internet news have picked up on LIBOR, the international banking interest rates standard and how’s it’s set by a group of chaps in London to suit their own whims. There is in fact an international banking conspiracy, but it’s not run by Bond villains or Lex Luthor, trying to build some gigantic sun laser… it’s run by a small group of old tweed jacket lunch buddies in London who are just trying to be cool around each other.
Massive electronic bank failure in the UK forces thousands to remember what life was like 50 years ago
NatWest, one of the largest banks in Britain, suffered a massive electronic infrastructure failure earlier this week, forcing branches around the country to open their doors on Saturday and Sunday to allow customers to come in and withdraw cash.
When the Occupy movements and protests occupied most of the news coverage for much of last year, there seemed to be two main stereotypes: a) OWS was nothing but privileged college students protesting for no reason and b) Nothing would come of it, since there didn’t seem to be any main, focusing message. Just because the Occupy protests have mainly died down doesn’t mean they’ve gone away. They’ve just gone inside and started working on the real problems. Meet the Alternative Banking Group.