YuheJi said:
unabomberman said:
I think we just need to fuck up with the banks and let them fold so we can watch how the BEG for more money and tell that the people need them.
That would probably kill the economy and possibly the country. The banks are the ones that create the money in our economy via loans. Most of the money in circulation doesn't actually exist; banks loan out money that they expect to get back. That essentially is creating money, which can stimulate the economy if people do eventually pay back (which has obviously been the problem).
Sorry but...wha-wha-WHAT?!
First of all you are going a bit overboard when saying that banks are the ones that create
the money, and via LOANS, worse of all. I'm sorry, but that's crap, and
that is assuming we just let the banks fold and not create new ones in their place, managed by
different people.
Second, the real problem in the first place is that you have wealth, invisible wealth, that has no material representation in the real world. Just what is it that money is? A concept, now all of a sudden?
Wealth has to have something real to represent it, otherwise you have the shit that we're all in.
Jeez...I mean, by getting
loans, meaning
credit, which most oftentime came from invisible wealth, you are getting yourself into a
debt that then you are supposed to pay with your real hard earned money because you played with their fake money. Now, shit has blown over and people can't pay their magic money, but the debt didn't go away.
Makes sense to you? Fuck no.
Even if you are a hard-nosed proponent of capitalism you have to admit that that's not how it works--and in fact that's why it's failing.
P.D: Don't mistake this for me being disrespectful, it's just that sometimes I'm flabergasted at the things that I see.