Who agrees modern banking is a colossal Ponzi scheme?

  1. AngelTrader profile image60
    AngelTraderposted 6 years ago

    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.

  2. ChristinS profile image96
    ChristinSposted 6 years ago

    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.

  3. LegendaryN8 profile image59
    LegendaryN8posted 6 years ago

    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.