Wow, thanks. You are a deep thinkur. Have you ever been to Canada or Norway?
Admittedly no.
But i believe it to be an international thing. Banks are banks. They thrive on debt. Cant function without it.
Banks can be a pain in the arse, but they are a business at the end of the day and have shareholders who want returns.
I was once a small time housing investor and could not of built wealth that way if it wasn't for the banks or for that matter tax's and the lovely deductions of negative gearing.
Banks allowed me to recently purchase a brand new car for the wife with no proof of earnings, like they did when I purchased the current home I'm in when I was unemployed.
Are banks sharks trying to make money? Are they allot like loan sharks? Are they dodgy? Well Duh, when haven't they been?
Banks are a tool, use them and use them well and always with caution.
Today I again love the tax system and its lovely deductions as it allows me to earn an income but not pay income tax. (fingers crossed again for this year)
Couldn't agree more. I wouldn't have my home either, if it weren't for a bank.
But its what they do with people like you and i thats the bad thing. A bank is a very handy thing. But it isn't just paying fees to hold our money, or charging interest on a loan anymore. Its much, much more lucrative than that these days.
When we get our homeloan for instance. The bank isn't loaning money. They're creating it out of thin air, and we sign it off in our names. They use our debt to get loanes themselves. Money that doesn't even exist yet is being sold off, and new fake fiat money is being created.
That's where the Ponzi scheme comes in. Because fiat currency relies on supply and demand, rather than the value of material used. The banks are running currency on supply and demand. Without debt there isn't currency supply.
The banks are using this fiat system together. They are running a Ponzi scheme, because the banks lure us as an investor (we want that house). Then pay earlier investors back (other banks).
Banks are borrowing from other banks, round, and around, and around again. Using our debt as the basis for their own loans. They're working together, and shafting us all.
Meanwhile there billions more dollars created out of thin air everyday. To be a millionaire these days is nothing at all. Though just 20 years ago there weren't many at all. Peoples demand for money is much greater these days. The debt is higher than the supply. So there is no choice but to keep the scheme going. Otherwise it would be a total economic disaster, and probably human catastrophe.
But the way I see it is the scheme inevitably has to come to an end. It's fraudulent. They keep on talking about a global "reset". It's a great big bubble thats gonna eventually burst. 2008 GFC was a baby in comparison.
In my opinion the western world should reset sooner, rather than later.
There shouldn't be such a thing as a "reserve currency" either.
