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overtheedge
Membre depuis mai 2012
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UKIP's Godfrey Bloom Blasts Fractional Reserve Lending as Fraud; Says Central Bankers Should be Trie - Mish - Global Economic Analysis

PM Bloom is a bit mistaken. The bankers do exactly what they can do.

The authorization to do all the supposedly horrible things they do comes directly from the politicians and the high court.

We could blame the public for their sorry performance as informed voters, but that is no different than blaming the car because you hit a tree. The public did NOT author or vote for any of the laws.

Might we blame the lobbyists? Again, they only represented a special interest group in voicing that group's concerns to the politician. They did not vote for or against the law. Again, only the politician did.

Oo, oo, maybe the people who put their money in the bank/mutual fund/stock market/etc? I refuse to say shame on them for living within their means even though the politicians would prefer otherwise. Otherwise? But of course. Capital gains tax is what you pay for giving up the use of a large chunk of change for an extended period of time.

Well how about the campaign contributors? First, they are lobbyists for themselves. No middle-man. What about the person that gives a speech in favor of the politician instead of money? How about granny telling me how wonderful Congressman Lant-pot is? Freedom of speech is "FREEDOM OF SPEECH".

We are still faced with the only question that must be answered. "Who authored and who voted for or against the law?" That is who is responsible.

Over and over again, the politicians get the mine and the public gets the shaft. PM Bloom and I can agree on that. But don't blame the bankers for the sins of the politicians. If daddy feeds the kids candy and soda pop before dinner, mom had better not blame the kiddies for enjoying their great fortune.

Don't misunderstand me, if a politician and a banker were on fire and I only had enough water to save one of them, I'd take a bath.

Commenté il y a 4174 jours

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Début de l'article :Here are a pair of interesting You-Tube videos on fractional reserve lending sent by reader Magnus who lives in Sweden. Godfrey Bloom Blasts Fractional Reserve Lending as Fraud "The problem that we have is a flawed banking system, a fractional reserve banking system where bankers can lend money they don't have. If you go back in time in the United States to the 1850s, that was a capital offense. You could hang for that." Link if video does not play: Money-Printing Scam - Godfrey Bloom MEP... Lire la suite

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