How to Beat Wall Street? Stop Needing It.

Submitted by Kevin Hansen on November 13, 2011 - 12:05

Starve Wall Street: Bring Your Money Home
By Kevin Hansen © 2011
 
 
Where does Wall Street get its power?
 
If you are concerned that Wall Street has too much influence in America and the world, there is something you can do.
 
Remember that most of Wall Street's investments are tied up in long-term things like bonds, mortgages, and land value. Wall Street has comparatively little free cash. The free cash Wall Street has comes from you: Wall Street is always hungry for new cash, every day, to feed its system.
 
  • Your bank deposits feed Wall Street
  • Your mutual fund purchases feed Wall Street
  • Your retirement plan feeds Wall Street
  • Your car payments feed Wall Street
  • Your mortgage payments feed Wall Street
 
We give Wall Street power by making these payments. With your family's money. Your company's money. Your town's money.
 
Your money. 
 
In other words, Wall Street gets much of its power from you. 
 
Wall Street uses your free cash to influence Congress, to promote environmentally damaging projects, to hire lobbyists, to restrict your free expression, and to create jobs in other countries. The concentration of your money on Wall Street allows power to concentrate – this hurts democracy, hurts the environment and hurts individual freedoms. All of this happens mostly without your consent or control.
 
Why do we scream at the excesses of Wall Street - then give them our money?
 
We gave away our power to Wall Street when we gave them our money. Do not give your power to Wall Street. Do not give your money to Wall Street.
 
Bring Your Money Home Instead
 
Because Wall Street needs more of your cash every single day, we have tremendous influence by starving it of free cash.
 
First
 
Withdraw your money from anonymous Wall Street bankers and stockbrokers. Take your money out of large for-profit banks. Restore your control by selling any investment fund where you cannot personally see the effects of the investment.
 
Second
 
Invest where know matters personally: locally owned businesses, local farms, nearby housing or land, local nonprofit credit unions, and local development corporations.
 
Third
 
Reduce your debt. Most debt is controlled, in the end, by major Wall Street banks. Move to nonprofit banks and credit unions. Refinance any mortgages or loans you have through nonprofit banks or credit unions. Nonprofit banking makes a huge difference. Form your own credit union. Do not allow your debt to enslave you. 


  • Several groups have formed around this subject:
    • http://www.moveourmoneyusa.org/

  • Find a Credit Union:
    • http://www.findacreditunion.com/

  • Bank Transfer Day:
    • http://www.facebook.com/Nov.Fifth

  • Banxodus:
    • http://banxodus.org/1/

  • A personal testimonial from small businessman Dave Meinert:
    • http://www.newbottomline.com/small_business_owner_dave_meinert_why_i_joined_move_our_money
Wall Street will tell you that they know better than you what to invest in.
 
This is crap - do not believe it.
 
You know your community better than Wall Street. You know your local businesses better than Wall Street. You know what your family needs better than Wall Street. Local investment creates local jobs - for your family, for your friends, for your classmates, for your communities – and for you.
 
Invest in them, and invest in yourself.
 
Trust yourself to know what you need. Trust yourself that you know what your community needs. Trust that you know best what your family needs.
 
Trust yourself.
 

  

Location: 
Your rating: None Average: 4 (3 votes)