Soldato
Never suggested you were.
So what do YOU propose we do apart from being pretty darn miffed about it?
Money DOES Grow on Trees
- Thread starter Ivan Drago
- Start date
So what do YOU propose we do apart from being pretty darn miffed about it?
Soldato
Spec me a *****?
You're not for real, right? I mean, you've got to be trolling - nobody could be this monumentally stupid and not realise it. The brightest minds in the world come up with a system you claim to have falsified and demolished by copying and pasting some crappy pap email doing the rounds at cubicle farms?
Soldato
I'm still struggling to see the drama in fractional reserve banking, which is the proper name for the uber-bank dominance system that supposedly exists, although it sounds far less dramatic than MONEY IS CREATED ON TREES LOLZOR
A great example was given earlier (number of plane slots vs planes in the air), it's not exactly rocket science, although the Youtube-tards who have recently 'discovered' this would have you believe otherwise.
The reason it has been going on for so long is because it the vast majority of time it works just fine, unless you either get mass outbreaks of retardedness among retards á la Northern Rock or allow greedy banks to a) grow too big to fail and/or b) over-leverage themselves through failures of risk management.
A great example was given earlier (number of plane slots vs planes in the air), it's not exactly rocket science, although the Youtube-tards who have recently 'discovered' this would have you believe otherwise.
The reason it has been going on for so long is because it the vast majority of time it works just fine, unless you either get mass outbreaks of retardedness among retards á la Northern Rock or allow greedy banks to a) grow too big to fail and/or b) over-leverage themselves through failures of risk management.
You're not for real, right? I mean, you've got to be trolling - nobody could be this monumentally stupid and not realise it. The brightest minds in the world come up with a system you claim to have falsified and demolished by copying and pasting some crappy pap email doing the rounds at cubicle farms?
The brightest minds in the world lent billions of mortgages to people they knew could not re-pay them? This was just an accident?
Thank you for you intellectual input.
Sorry for your ignorance. The money supply should be a sovereign matter for the benefit of the people of a nation - not for the benefit of private bankers.
Caporegime
why ?
Is there a viable economic argument for this ?
or is this a political belief ?
Soldato
And once more, what do YOU think should be done? I hear lots of bleating but no suggestions.
If I loan £10 to 100 people of whom I know only 1 will pay me back, all I have to do is charge 100000000000000% interest to make a profit. Job well done.
You do realise this has been happening for over a hundred years, right? This is not some product of a financial crisis.
Still waiting on your intellectual input.
Or, you've created a few hundred thousand/million mortgages out of 'thin air' by basically inventing electronic currency into an account, knowing the buyer will likely default, leaving you the owner of a physical house (actually, many of them) and land via repossession, as well as any costs you get to recover in 'real money'? The system does seem to hinge on having more money owed in interest than actually exists (because the debt was invented to begin with). That relies on people struggling in the real world, and going bust inevitably.
I'm no economist and I'm sure it shows, but I can kind of see where the naysayers are coming from on this.
Soldato
In order for it to 'benefit the nation' do you mean only national banks should be allowed to utilise the fractional reserve system to expand the money supply for organisations, other countries and suchlike who require it or are you arguing against the fundamental system of fractional reserve banking itself, which is a vastly different proposition?
Do you understand how fractional reserve banking operates? Just trying to establish who exactly is the ignorant, or at the very least, ill-educated, in this thread - to use the earlier example, do you understand how for example, a car park for a supermarket is able to operate without any issue, despite having less spaces at any one time than the total number of customers
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You seem to have spoon-fed the 'free market' theory without having the ability to question it or question whose interests it serves.
Why are you paying 5x the amount people were paying for a mortage 20 years ago? Can you not see how food prices have rocketed over the last decade?
What are you arguing for? Have you been that indoctrinated that you cannot see white from black?
The alternative is to have a sovereign bank dictating monetary policy who is acccountable to the electorate.
Caporegime
well i'm currently paying 4.0 % interest
when my parents had a mortgage they were paying 20 % interest in the early 90s so i'm not sure how that works.
Because it has been happening for x years makes it right? Moronic logic.
Do you know the origin of the word 'mortgage'?
Of course this is the intention - for the banks to own property on which people must pay to live in.
Sovereign banks must be allowed a marginal rate of inflation for the benefit of the national economy. It is a marginal tax which would offset the dangers of deflation.
Amazing how many people have swallowed free market orthodoxy without questioning it - utter drones.
What was the value of the property they were buying? Far beyond the ratio to their salary these days. Even so they were paying extortionist rates. Sorry for your parents.
Soldato
Ironic statement is ironic
I get that this is all probably new and scary to you, or perhaps you feeling a tad prophetic like you've hit the goldmine of new human understanding and are looking to spread the wealth, but 'Money as Debt' is so 2007.