Greferendum

[toongeorges]

And this ladies and gentleman, is how one justifies fractional reserve banking, one of the greatest cons in human history. The con artist can't lose.

You can try to abolish banking, but I am not sure it will be an improvement.

 

[thorsten]

Did you really think that though? What happens to all the hookers and the blow dealers?

 

[camberiu]

You can try to abolish banking, but I am not sure it will be an improvement.

Banking and fractional reserve banking are two very distinct things. And I am not trying to abolish anything, except me footing the bill. Wanna practice fraud at large scale? Go right ahead, as long as I am not required to bail you out when (inevitably) the pyramid scheme implodes. That is where I have issues with fractional reserve banking.

 

[toongeorges]

Banking and fractional reserve banking are two very distinct things. And I am not trying to abolish anything, except me footing the bill. Wanna practice froud at large scale? Go right ahead, as long as I am not required to bail you out when (inevitably) the pyramid scheme implodes. That is where I have issues with fractional reserve banking.

It does not need to implode as long as the banks can lend from the central bank and the central bank can print money at will.

The issue we have in Greece is that the banks in Greece need their money from the central bank of Greece and that the central bank of Greece needs the money from the ECB.

 

[Rich One]

Did you really think that though? What happens to all the hookers and the blow dealers?

They can sue Strauss-Khan.

 

[dennisr]

.....$1.2 trillion debt (roughly a quarter-million dollars for each working adult)....

http://www.vanityfair.com/news/2010/10/greeks-bearing-bonds-201010

 

[camberiu]

It does not need to implode as long as the banks can lend from the central bank and the central bank can print money at will.

Yep. If the population does not foot the bill by having to pay for the bail out, it foots the bill by receiving legally counter fit money that loses it's value every second. Yep, the con artists can't lose. The game is totally rigged.

And who is against that? Us crazy free market capitalists.

 

[Rich One]

.....$1.2 trillion debt (roughly a quarter-million dollars for each working adult)....

http://www.vanityfai...ng-bonds-201010

Otra cosa es con guitarra...! I guess some of the generous forum members would think differently if their German Tax dollars were being splurged to save corrupt leaders and bankers. Odious debt under coercion, my ear.

 

[Joe]

 

[sleslie23]

Speaking of Greece, here is one of my favorite songs:

https://www.youtube.com/watch?v=qUBUZ4CWXb4