That the bank benefits from the transaction is certainly true, because we pay it for something it costs nothing to create. If a bank can issue credit, why can't any individual or corporation also offer credit which has no backing, like the bank does? If it is wrong for an individual to lend money they do not possess, then it is also wrong--and fraudulent--for banks to do the same.
You know I've never quite thought about it in those terms but it's very true, especially with fractional reserve banking. The only way they can create money is by lending, thus by taking a loan we are allowing them to create more money for themselves. The customer does rule.
That the bank benefits from the transaction is certainly true, because we pay it for something it costs nothing to create. If a bank can issue credit, why can't any individual or corporation also offer credit which has no backing, like the bank does? If it is wrong for an individual to lend money they do not possess, then it is also wrong--and fraudulent--for banks to do the same.
WelcomeToTheFreekSho 10 months ago
The customer rules in every transaction...
Trimbler00 11 months ago 2
great job man!
with translation - have you got more of these?
grraadd 1 year ago
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TedDGPoulos 1 year ago
You know I've never quite thought about it in those terms but it's very true, especially with fractional reserve banking. The only way they can create money is by lending, thus by taking a loan we are allowing them to create more money for themselves. The customer does rule.
publicanimal 1 year ago
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HydroMystery 3 years ago
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HydroMystery 3 years ago
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HydroMystery 3 years ago
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HydroMystery 3 years ago
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HydroMystery 3 years ago
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HydroMystery 3 years ago
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HydroMystery 3 years ago
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HydroMystery 3 years ago
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HydroMystery 3 years ago
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HydroMystery 3 years ago
Nice!
davorinas 3 years ago 7