Below is a great recap of a longer article I read a few days ago.
A World Without Finance
By Charles Hugh Smith
"We will enter a world without finance, and it will be a better world, for the economy will no longer be in thrall to the derangement and inequality of parasitic, predatory finance.
A world without finance is currently unimaginable, because finance is now synonymous with financialization. In this context, finance no longer refers to longstanding mechanisms that grease commerce such as short-term commercial debt (purchase orders, etc.) or long-term debt to finance the construction of new assets (mortgages, etc.)
A world without finance is unimaginable because the economy’s “growth” and soaring inequality are now totally dependent on financialization. Finance is no longer about greasing commerce and the construction of assets, roles it played for thousands of years; finance is now a vast skimming machine for the few to enrich themselves at the expense of the many, a set of swindles that skims from what remains of the productive economy to benefit financiers, corporations and speculators. …" Full Article
This weekend I will be writing a Hand Book for Family Banking so that silver sackers can lend to extended family and community to finance bringing back local commerce. It will be idiot proof to walk a novice through gathering loan information, getting security, checking collateral and completing the required legal documents.
Later I hope to form a free user group as a mutual support group to each other to assist in the decision making process and assist in the paperwork.
This is what will be required to fill the vacuum created in commercial lending when the commercial banks close their doors in the next month or so, wiping out all commercial credit and financing.
This is what the Hand Book will cover:
Gathering the Information.
Checking the Corporation status.
Checking the collateral ownership and valuation.
Checking Real Estate.
Checking the co-signors.
Calculating the loan numbers.
Covering your ass.
Filling in the forms.
Recording the paperwork.
Disbursing the loan.
Keeping track of things & remembering dates.
Closing Out The Loan.