Who agrees modern banking is a colossal Ponzi scheme?
95% of the money in the world today is created as a debt, a debt owed to private banks. This includes private debt, corporate debt, and government debt. Banking is a well-planned swindle that is totally rigged in favour of the banksters. And it is ingenious. When creating loans, the banksters only create the principal, never the interest. With long term loans, the interest can amount to one and a half times the principal or more. Over time, a mortgage of $200,000 might reach in excess of $500,000, including interest.
I agree with you. I took a macro economics course last semester (required for my degree) and it opened my eyes to a LOT of things.... Highly recommend everyone to get a basic primer on macro and see for yourself the illusion that is money, banking, "the fed" and wall street. Banks make profit on money they don't physically possess - they may actually hold 10% of what is on the books - the rest is loans.
"futures trading" is another good one and how we get gouged on things like gasoline that are not truly in short supply at present ... it's pitiful and greed is certainly rampant.
I think what you both are speaking of is financial leverage. Large financial institutions make gambles on money held in-house, as well as outstanding debts owed to the institution.
The best way to get around it?
Deal in cash and cash equivalents.
by Marc Woodard 14 years ago
This Exerpt taken from my hub "A Stern Message to our Health Reform Politicians""They steal our tax dollars without representation, run up debt in back room deals and God knows if our GDP will be enough to clean up our debt even within a hundred years. You see if Bernie Madoff would...
by IndiePharm 12 years ago
I've recently joined JBP and I like the concept, I've even talked about it in my latest hub. How do you feel about similar sites and generally about the concept of making money online?
by ptosis 6 years ago
Why is Social Security not a Ponzi scheme? Or is it?A Ponzi scheme is a fraud. Nobody is being misled by SS & is the morally the polar opposite of a Ponzi scheme. Certain people make bogus claims that SS is a Ponzi scheme. The reason that SS isn't a Ponzi scheme is...
by Ralph Deeds 12 years ago
Is Social Security a Ponzi scheme as claimed by GOP presidential candidate Rick Perry or can it continue to pay full benefits for 25 years and can easily be put on a sound financial footing for the forseeable future with a few minor changes as claimed by the Social Security fund trustees?
by callonresources 12 years ago
Islamic banking does not recognise or deal with riba (interest). In otehr words Islamic banking is an Interest-free banking system. Islamic banking has not been impacted by the global economic downturn and infact the Islamic banking sector is booming amid the global recession. Many countries in the...
by spbarton21 11 years ago
Do you believe that Social Security is a Ponzi scheme?Social Security was founded in order to give Americans assurances that they would have money when they retired. The idea was good on paper as a growing population would always ensure that the number of people paying into the system would be more...
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