Thank you driver for getting me here
You'll be an inspector, have no fear
I don't want to cause no fuss
But can I buy your magic bus?
--The Who
We permit the creation of a fractional banking system, which allows banks to lend out $10 or more for every dollar of capital they possess. we permit the creation of a central bank, which bails out the banks when they take too much risk with their fractional leverage.
We disconnect the central bank from the voting process, which effective creates an elite group of untouchables to oversee this flawed system into perpetuity.
Then, when, things come crashing down, we rail against the big banks for their 'greed' and we demand action by elected officials.
We are truly fools.
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1 comment:
Then, when, things come crashing down, we rail against the big banks for their 'greed' and we demand action by elected officials.
Then, 5 months later, we allow them to blow another bubble in the equities markets. With our money. We're beyond foolish, I'm afraid.
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