Dawe & Clarke on Global Economy
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I don't know weather to laugh or cry...
3 years ago 5
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@SentientSight There isn't. So you need to lend more money at interest to pay te interest.
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Hilarious as always !
I would have started my own bank by now and made a killing, except only one thing held me back.....my conscience.
3 years ago 2
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lmao.... well done.
3 years ago 3
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Excellent. But they missed one important and fundamental point. Under the fractional reserve system on the basis of the $1 deposit the bank is allowed to conjur into existence $9 which it can lend plus interest. This is the ultimate scam on which the modern financial system is built!
glazinq 3 years ago 4
Not to mention this invented money is then lent at interest. Where does the money come from to pay back the interest?
SentientSight 3 years ago