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Another 'I dont understand the banking system' Thread https://rlfans.com/forums/viewtopic.php?f=11&t=514230 |
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Author: | LeighGionaire [ Thu Nov 24, 2011 10:21 pm ] | ||||
Post subject: | Another 'I dont understand the banking system' Thread | ||||
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Author: | Dally [ Fri Nov 25, 2011 12:28 am ] |
Post subject: | Re: Another 'I dont understand the banking system' Thread |
You're nothing if not persistent! |
Author: | LeighGionaire [ Fri Nov 25, 2011 12:48 am ] |
Post subject: | Re: Another 'I dont understand the banking system' Thread |
Dally wrote:You're nothing if not persistent! Well people are in complete denial about how money is created, as Galbraith said - Quote:John Kenneth Galbraith, Money: Whence it came, where it went (1975), p. 15
The process by which banks create money is so simple that the mind is repelled. |
Author: | handrags [ Fri Nov 25, 2011 6:49 am ] |
Post subject: | Re: Another 'I dont understand the banking system' Thread |
what i cant understand is where all this money went? if i gamble and lose the bookie gets it, so who got all the cash the banks lost? And dont say millions of people who couldnt pay the banks back, because the banks loan out only against your assets! my aunt borrowed £60,000 from northern rock against her property, she died a two years later and before i could benefit from her estate I had to pay northern rock £94,000 back before i got 1 penny. and further more if half the banks lost cash by speculating with other banks then surly the money is still in the banking system. the whole system is one giant con and we the little people are complete mugs to go along with it! |
Author: | Chris28 [ Fri Nov 25, 2011 9:52 am ] |
Post subject: | Re: Another 'I dont understand the banking system' Thread |
handrags wrote:what i cant understand is where all this money went? It was dropped in the street and washed down the drain, so it is actually lost. |
Author: | Sandro II Terrorista [ Fri Nov 25, 2011 10:13 am ] |
Post subject: | Re: Another 'I dont understand the banking system' Thread |
And The KLF burnt the rest of it. |
Author: | Diavolo Rosso [ Fri Nov 25, 2011 1:00 pm ] |
Post subject: | Re: Another 'I dont understand the banking system' Thread |
And people argue against forced sterilisation. |
Author: | Dally [ Fri Nov 25, 2011 1:15 pm ] |
Post subject: | Re: Another 'I dont understand the banking system' Thread |
handrags wrote:what i cant understand is where all this money went? if i gamble and lose the bookie gets it, so who got all the cash the banks lost? And dont say millions of people who couldnt pay the banks back, because the banks loan out only against your assets! my aunt borrowed £60,000 from northern rock against her property, she died a two years later and before i could benefit from her estate I had to pay northern rock £94,000 back before i got 1 penny. and further more if half the banks lost cash by speculating with other banks then surly the money is still in the banking system. the whole system is one giant con and we the little people are complete mugs to go along with it! It's simple - money is generally lent on the security of assets. The value of those assets is purely arbitrary eg a house is inherently almost worthless, it's value derives from what people are willing and able to pay for it. just When those asset values fall if borrowers can't repay their loans the banks take a hit. |
Author: | billypop [ Fri Nov 25, 2011 9:12 pm ] | ||||
Post subject: | Re: Another 'I dont understand the banking system' Thread | ||||
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Author: | handrags [ Sat Nov 26, 2011 7:44 am ] |
Post subject: | Re: Another 'I dont understand the banking system' Thread |
Dally wrote:It's simple - money is generally lent on the security of assets. The value of those assets is purely arbitrary eg a house is inherently almost worthless, it's value derives from what people are willing and able to pay for it. just When those asset values fall if borrowers can't repay their loans the banks take a hit. if that where true wouldnt house prices be at rock bottom ? and if you do default on your morgage the bank would own your house [ still a valuble asset], Yet the yanks owe trillions, and yanks rent property as do most europeans so thats not the simple answer. |
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