Article from the economist here
This is catastrophic. We're denying people the write to eat, to be educated, to live a normal life, but we're paying hedge funds manager millions of dollars to move around money that doesn't exist. If you could grow a single tomato, you'd be more "productive" than these guys.
These funds are based on nothing but speculation, hoping it will grow, for the same reasons banks make money. They're not helping anybody, they're not producing a useful product...they're just pushing paper, charging commission, making money with money.....that doesnt really exist :)
Sunday, 3 April 2011
Philippe Diaz
"Create money that doesnt exist!!!" the most obvious things sometimes are the most difficult to understand sometimes..... unfortunately.
Professor Peter Victor
I like the part in this video where he suggests that we should work less and enjoy life more :)
I like!
I like!
Banks
The guy in this video managed to borrow up to 500K Euros (over 700K$) and gave it to charity with the intention of not paying back the bank.
Banks are the rulers of the capitalist system and are creating chaos in the world with their policies.
If you don't already know, I'll make you the long story short. Banks print money and literally make money by printing money. See, in the old days, the bank could print a 10$ bill if it had 10$ worth of gold. Today, they can print that 10$ bill by and give it to you by issuing a contract that says that you owe the bank 10$ and you will pay him back. Because you owe the bank 10$ and the bank just printed 10$, there is no need for gold. Actually you have to go and dig 10$ worth of gold so you can pay your debt. The problem with this is that now the bank doesn't want 10$ but wants 11$ because of the interest. So it printed 10$ but it will get 11$ back, however that 1$ hasn't been printed yet.....until the next economical crisis :)
I'll be posting a few videos about degrowth as soon as I figure out how this blogger thing works.
Stay tuned...
Banks are the rulers of the capitalist system and are creating chaos in the world with their policies.
If you don't already know, I'll make you the long story short. Banks print money and literally make money by printing money. See, in the old days, the bank could print a 10$ bill if it had 10$ worth of gold. Today, they can print that 10$ bill by and give it to you by issuing a contract that says that you owe the bank 10$ and you will pay him back. Because you owe the bank 10$ and the bank just printed 10$, there is no need for gold. Actually you have to go and dig 10$ worth of gold so you can pay your debt. The problem with this is that now the bank doesn't want 10$ but wants 11$ because of the interest. So it printed 10$ but it will get 11$ back, however that 1$ hasn't been printed yet.....until the next economical crisis :)
I'll be posting a few videos about degrowth as soon as I figure out how this blogger thing works.
Stay tuned...
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