Southern Money

What do bankers and agents of government have in common? For the most part, they are middlemen acting on someone else’s behalf. This is what makes them competitors. At least, according to the banksters. They see the public purse as a pot of money and they want a part of whatever falls out, when the strings are loosed. Dodd-Frank is an effort to limit how much they can claim.

Tom Udall, Senator from New Mexico, explains:

It ain’t pretty, but it is good to know that fees banks can charge on debit cards range from 21% to 23%. That’s Dodd-Frank at work. The banks used to charge over 30% — a transaction tax. Who knew?

And still Warren Stephens is bleating about “credit allocation” by the feds. That’s ‘we the people,’ whose money the banks are hoarding until ‘we the producers’ are brought to heel and agree to work for next to nothing. We are the feds.

Remember the publicity that muggers used to get? If one were into conspiracies, one might almost think muggers were paid to ply their trade to persuade us not to use cash.

If you spend a thousand dollars a month on food and gas and incidentals using a debit card, that’s $210 to the bank. Imagine that!


Monica Smith

Monica Smith writes Hannah's Blog. Born in Germany, she came to the United States as a child, living first in California, then after an interval in Chile, in New York. Married to a retired professor at the University of Florida, where she lived for 17 years, she moved to St. Simons Island, Georgia, in 1993 and now divides her time between Georgia and New Hampshire. (New Hampshire, she says, is always interesting during a presidential election.) She and her husband have three children and five grandchildren. Ms. Smith says she "learned long ago that I am not a good team player when I got hired at the Library of Congress, fresh out of college with a degree in political science and proficiency in four foreign languages, to 'edit' library cards and informed my supervisor that if she was going to insist I punch the clock exactly on time, my productivity was going to fall from being the highest to being the same as everyone else's. The supervisor opted to assign me to another building where there was no time-clock. After I had the first of our three children, I decided a paycheck wasn't worth the hassle."