On Sun, 17 Feb 2008 15:30:08 -0800 (PST), Werner <whetzner@[EMAIL PROTECTED]
>
wrote:
>On Feb 16, 8:42=A0am, "Mark M." <ma...@[EMAIL PROTECTED]
> wrote:
>=2E..
>
>> Most of the activities of the financial sector do nothing to aid the
produ=
>ction of
>> goods and services. =A0Rather, these activities are about OWNING the
distr=
>ibution of
>> goods and services.
>>
>=2E...
>>
>> We could turn disaster into liberation by repudiating the parasitic
burden=
> of
>> private debt. =A0Our creditors have given us nothing of true value.
=A0The=
>y have merely
>> conned us into believing that cash is better than an income stream. =A0
>
>So would you lend money to someone for nothing?
Sure, if it was money I created out of nothing.
>We got the
>> cash to buy homes and the bankers received the income stream. =A0That
big =
>chunk of
>> principal we used to buy the house didn't cost the lender any labor.
=A0Bu=
>t all those
>> subsequent mortgage payments were consumed by the bankers. =A0The real
goo=
>ds and
>> services enable the lenders to live in luxury while the borrowers toil
for=
> nothing.
>
>You must think borrowers are fools. I don't know anyone who works for
>nothing.
Yes, of course you do. You just choose not to know that fact.
Between taxes, land rent, mortgage interest, etc. most people get
nothing for most of their work. Which might be why they toil for 40
or 50 years and have nothing to show for it at the end.
>> We have never needed bank credit in order to produce wealth, live in
house=
>s,
>> consume wealth. =A0
>
>We do need money for those things - especially when you are not born
>with it.
No, that is false, as people did those things before there was any
such thing as money.
Please try to understand the implications of the fact that you have
just been proved flat, outright wrong.
And please try to stay on topic: he specifically said _BANK_CREDIT_,
not money. Two different things, even though our current monetary
system makes bank credit the sole source of money.
>So either we save it or borrow it.
Banks _create_ it. Nice racket.
>I know that lots of folks
>who experienced the Great Depression opted to save rather than borrow.
>But most folks borrow because they don't want to wait. If there was no
>value to borrowing there would be no lending.
Wrong. Under the current monetary system, borrowing and lending are
absolutely required to prevent a deflationary collapse.
>Look at it like toilet
>paper. No one needs toilet paper, but it sure is nice to have.
It's even nicer to have a monopoly on creating it.
>> Compare
>> this with the mortgage swindle where the average homeowner gets back
nearl=
>y nothing
>> from a lifetime of mortage payments.
>
>I got a house.
And paid far more for it than it cost.
>In fact, I got a house that also produced an income
>stream. I was glad a bank lent me the money.
Most slaves are similarly grateful when their owners permit them a few
little personal possessions.
>But my FICA payments turned into swindle.
>http://capitaldistrict-lp.org/SocialSecurity.shtml
Really? Have you not received your benefits?
-- Roy L
|
