chem1st Posted February 6, 2012 Share Posted February 6, 2012 http://www.positivemoney.org.uk/whats-wrong-with-banking-today/the-problem-with-the-banking-system-video/ A 20 minute educational video. Please view if you wish to educate yourself. It may help you to understand why many of you are prepared to exchange 50000 hours of your labour for something that took less than 1000 hours of labour to create. It will help you to understand why unemployment is rising (people aren't getting lazier). It will help you to understand the modern day slavery that exists. You will learn how to get out of debt, and why you must force somebody else into debt in order to do so. It will help you understand the coming inflation and Thursdays announcement of money printing by the BoE. Link to comment Share on other sites More sharing options...
green Posted February 6, 2012 Share Posted February 6, 2012 http://www.positivemoney.org.uk/whats-wrong-with-banking-today/the-problem-with-the-banking-system-video/ A 20 minute educational video. Please view if you wish to educate yourself. It may help you to understand why many of you are prepared to exchange 50000 hours of your labour for something that took less than 1000 hours of labour to create. It will help you to understand why unemployment is rising (people aren't getting lazier). It will help you to understand the modern day slavery that exists. You will learn how to get out of debt, and why you must force somebody else into debt in order to do so. It will help you understand the coming inflation and Thursdays announcement of money printing by the BoE. Have you been to a Positive Money meeting? I went to one a couple of weeks ago. You may also enjoy this website. http://www.golemxiv.co.uk Link to comment Share on other sites More sharing options...
andyofborg Posted February 6, 2012 Share Posted February 6, 2012 cant you just summarise the main points Link to comment Share on other sites More sharing options...
mart Posted February 6, 2012 Share Posted February 6, 2012 cant you just summarise the main points 1. To put it succinctly Andyofborg, the banks take the path of least resistance in their decision making criteria of who they are going to lend the money to. 2. The banks control more money than the government do. 3. The government do not have much control over the banks, but are there to “carry” the banks when they mess-up . Interesting to watch that guy presenting so well and in a relaxed way. Thank you for posting this Chem1st. Not sure what you mean though when you say “You will learn how to get out of debt” Link to comment Share on other sites More sharing options...
chem1st Posted February 6, 2012 Author Share Posted February 6, 2012 Not sure what you mean though when you say “You will learn how to get out of debt” Basically clarifying the point that you must push somebody else deeper into debt for yourself to remain out of it. Link to comment Share on other sites More sharing options...
mart Posted February 6, 2012 Share Posted February 6, 2012 I’m surprised there has not been more posts in the thread. Are people really that uninterested in finance other than the instant gratification of spending. No wonder there are so many people in debt-to a large extent their own doing I guess. Link to comment Share on other sites More sharing options...
andygardener Posted February 6, 2012 Share Posted February 6, 2012 Basically clarifying the point that you must push somebody else deeper into debt for yourself to remain out of it. Or we could all just live within our means? Not borrow money we can't afford? How hard would that be as a solution? It worked for the longest time. Link to comment Share on other sites More sharing options...
chem1st Posted February 6, 2012 Author Share Posted February 6, 2012 Or we could all just live within our means? Not borrow money we can't afford? How hard would that be as a solution? It worked for the longest time. The system is based upon debt expanding. If debt ceases to expand, then there is pain. Recession. Link to comment Share on other sites More sharing options...
Longcol Posted February 6, 2012 Share Posted February 6, 2012 I’m surprised there has not been more posts in the thread. Are people really that uninterested in finance other than the instant gratification of spending. No wonder there are so many people in debt-to a large extent their own doing I guess. Or it might be due to the fact that people recognise that without companies being able to borrow the economy might never have got as far as the industrial revolution. It also misses, I assume, the "multiplier effect" ie I borrow £x for a new car from company Y, who use it to pay their employees, who use it to pay their shopping bills at the shop that uses it to pay their suppliers, that the government takes a cut to pay for the NHS & schools etc. Lending excessive amounts to people who can't repay debts is foolish and ought to have been better regulated and "gambling" has been obscenely rewarded - but we'd be absolutely stupid to ignore the benefits that the banking system has brought us. Link to comment Share on other sites More sharing options...
MrSmith Posted February 6, 2012 Share Posted February 6, 2012 http://www.positivemoney.org.uk/whats-wrong-with-banking-today/the-problem-with-the-banking-system-video/ A 20 minute educational video. Please view if you wish to educate yourself. It may help you to understand why many of you are prepared to exchange 50000 hours of your labour for something that took less than 1000 hours of labour to create. It will help you to understand why unemployment is rising (people aren't getting lazier). It will help you to understand the modern day slavery that exists. You will learn how to get out of debt, and why you must force somebody else into debt in order to do so. It will help you understand the coming inflation and Thursdays announcement of money printing by the BoE. I stopped listening when he insisted that banks lending to buy houses doesn’t give the economy growth. Every new house built is generating growth and the money to buy it is borrowed money without which there would be no growth. Banks lent more money than was required to buy a house so people could spend this money on other things which encouraged growth. The growth wasn’t good growth but it was growth. Much of the growth of the last decade was all down to lending money to buy houses. Link to comment Share on other sites More sharing options...
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