there's no such thing as a dollar

[mellowtigger]

It was 1983 when the government arrived to take over a failed bank in my hometown. Mr. Franks, my high school economics teacher at the time, took the opportunity to demonstrate to us just how our money system really works. It was a powerful lesson. I understood it, and yet I abhored it. It was a system that, by definition, must fail. It's a

Comments

[khrysso]

I think it's really interesting how the Religious Right is still so heavily behind the professional usurers in the Republican Party when there are so many clear biblical injunctions against usury among those within one's community. (I'm pretty sure the Bible didn't mean "political party" when it used the Hebrew word that for so long was translated as "brother.")

http://en.wikipedia.org/wiki/Usury

[mellowtigger]

It's terribly unkind of me, I know, but my fun meter is tweaked. I'm actually enjoying the meltdown.

All these people panicking because they wanted their greedy turn at the trough of free money, and they're not going to get it.

[khrysso]

Oh, yeah, me too-file under "schadenfreude." Hand me the popcorn, will ya? (he said, gleefully...)

[fingertrouble]

Yes myself with net-zero worth (more debt than assets, although not serious debt like mortgage) weirdly I stand to gain if it all goes tits up and the bank goes bust.

That is until I starve cos of no bank account to pay my pay into...I bet finding an alternative will take longer than 2-3 weeks. LOL.

It's a truly fucked up system. And I have mixed feelings about the crash - fear (of not getting any more work as a freelancer) but also glee. Especially the moaning of bankers...'we deserve our bonuses!' - well I had to forgo bonuses when my industry crashed in 2001/2 - not as dramatically but it wasn't as interlinked to, well, everything. Websites aren't that important, really. Or weren't then. But at least if one of my websites crashed I didn't take out some poor people's pensions! I feel no empathy at all, since the people I know who work at banks do so for the money.

And they seem to think being clean shaven and suited is a fair price to pay for selling their soul. Well, the devil called and he wanted his souls back!

[mellowtigger]

The only way to sustain the system is hyperinflation. And that, as I hope everyone can finally see and not just the "me" from 25 years ago, is not sustainable.