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Stumbled across this:

http://www.telegraph.co.uk/news/feature ... -debt.html

It's not exactly a barrel of laughs, but it's probably the clearest exposition I've yet read of how we are all entangled in a global conspiracy called money.

I really don't want to know!

I never did understand why pyramid schemes were illegal except when operated by governments and bwankers.

Samray wrote:I never did understand why pyramid schemes were illegal except when operated by governments and bwankers.

Quite; people might start to see the similarity and question the whole concept. And that would never do, would it?

mangocrazy wrote:

Samray wrote:I never did understand why pyramid schemes were illegal except when operated by governments and bwankers.

Quite; people might start to see the similarity and question the whole concept. And that would never do, would it?

Very good - emperor's new clothes scenario

When does the revolution start?

The basis under all of this goes back to the very roots of banking - the creation of credit has underpinned it all for centuries. Banking wouldn't exist without it.
The dangers come when banks lend riskily - ie when the deposits become too small a proportion of lending and too many people want to withdraw their deposits at once .... the situation becoming critical when loss of confidence in a bank leads to a stampede for deposits to be withdrawn.

The impact of it is well captured by James Stewart in "It's A Wonderful Life"

http://www.youtube.com/watch?v=_Er69b4H ... re=related

The problem is that it has been extended into more risky ventures and what they laughingly call "products" (I SO object to the use of the word "product" for non tangible finance schemes etc ... a product is something physical that people have fashioned).

As it always has, it falls down due to one thing ..... Greed.

I'm not greedy. Just give me £1 more than the wife can spend.

if it's on a sea, it's afloat - and surely afloat is good ?

BikerGran wrote:I really don't want to know!

me either

Falken wrote:I'm not greedy. Just give me £1 more than the wife can spend.

snapdragon wrote:if it's on a sea, it's afloat - and surely afloat is good ?

Not if you're floating up the creek without a paddle . . .

Wanna share my new avatar Snap?

found it a good read. nothing new, just presented in a much better way than ''if everyone with notes (promise to pay the bearer on demand~~) tipped up at the bank of england and asked for their i.o.u's paid in gold the whole of UK would be fekked.''