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Saturday, December 16, 2006

Pawnshops and Banks are they helping you?

East Kilbride’s Prince’s Mall has a pawnshop; very plush, clean and lined with trays of jewellery, brightly lit, not like the pawnshops I remember as a boy, where mum would scold you if you tried to look around the barriers to see who was in the next cubicle.
The rates are not cheap in Prince’s Mall and shops are opening and closing all the time. So what was business like. A notice at the entrance informed me that if I could demonstrate I was a victim of the Farepak scam, I could be assisted by an exclusive 80-day offer, which could amount to £1000.
The conditions were that I deposit any valuables, jewellery preferably, they would lend me money on this and provided I paid back the money before the 80 days were up, the loan would be interest free and the goods would be returned.
I leave you to work out the pitfalls of this scheme and make the point that workers were saving, I believe, to avoid getting into debt. Is this not what they are asked to do? Save for your old age! Could this be because your credit rating will be low on a crappy pension? Nevertheless, offers from credit unions and pawnshops is what is on offer. Debt is on offer as a solution to people trying to avoid debt.

Rich people like Maxwell plundered pension schemes. Other forms of pension theft are reported on this site. Directors of firms like Farepak, allegedly filter money from clients and move it into other parts of their business.
Where does all the loot go? Why can’t it be recovered and paid to the thousands of people (workers) who need this money?
People, who have saved their whole working life in pension schemes that have collapsed are bitterly disappointed. The government approved these schemes, which were registered, not like the Farepak scheme which was unregistered.
The campaign group, ‘Unfairpak’, protest to HBOS. (Banks like Halifax Bank of Scotland (HBOS) are on target to make multi-billion pound profits), evidently, ‘ they could and should replace the £40 million scrimped and scraped throughout the year for a bit of cheer at Xmas’.

Working people are continually under attack at various levels. Wages, Housing, Unemployment, Rents etc. solutions are unobtainable, always will be, while we live in a capitalist society. Appeals to rich organisations for handouts will have very limited success.

Solution meaning solved requires a change in the way society is organised. Common Ownership of the means of production is the way forward for us all.

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