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In Reply to: RE: True story... posted by srdavis2000 on February 04, 2016 at 10:25:05
With todays trend to 'Negative' interest rates, I think it's NUTS to place full trust banks.
How do you tell a kid that the 10$ per week you encourage them to spend is at the end of a year, less than 100$?
I'll spend it NOW, that you very much.
Too much is never enough
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That's exactly what you are supposed to do. All that money in savings isn't being used to build the economy.
Spend, spend, spend and we'll all be rich.
The idea of spending yourself to 'prosperity' is odd to me.
If that were true, we'd ALL be rich, with the country being like 18$ TRILLION in the hole with no end in sight. Come to think of it, the PLANET would be rich, since the net Planetary debt to organs like the BIS (International Bank of Settlements) is probably over 100$ Trillion.
I THINK the idea is that the NET SUM of savings be used as a pool from which LOANS can be made to be paid back AT INTEREST.
So a business borrows money which when paid back yields 3 outcomes. Some profit for the Bank. Interest paid TO the various account holders and the PRINCIPLE remains available for further loans.Here is link to BIS. Bank for International Settlements. The clearinghouse, if you will for the planets DEBT. The Truth is buried somewhere in a pile of statistics and data reaching halfway to the moon.
Too much is never enough
Edits: 02/06/16
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