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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.
...more
”
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―
“
all loans, in the eyes of honest borrowers, must eventually he repaid. All credit is debt. Proposals for an increased volume of credit, therefore, are merely another name for proposals for an increased burden of debt. They would seem considerably less inviting if they were habitually referred to by the second name instead of by the first.
”
― Economics in One Lesson
― Economics in One Lesson
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