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Banks
A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities.
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“
He tried to read an elementary economics text; it bored him past endurance, it was like listening to somebody interminably recounting a long and stupid dream. He could not force himself to understand how banks functioned and so forth, because all the operations of capitalism were as meaningless to him as the rites of a primitive religion, as barbaric, as elaborate, and as unnecessary. In a human sacrifice to deity there might be at least a mistaken and terrible beauty; in the rites of the moneyc
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― The Dispossessed: An Ambiguous Utopia
― The Dispossessed: An Ambiguous Utopia
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The bankers and financiers are badly overplaying their hands, again, and people are starting to catch on to the scam.
Real wealth is tangible things produced with tangible effort. Loans made out of thin-air 'money' require no effort and are entirely ephemeral.
But if those loans are used to acquire real ownership of real assets, then something has been exchanged for nothing and one party is getting screwed.
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