Thursday, June 21, 2012
Instability at the Heart of the Economic System
The problem is that there is too much private influence on the value of money. There is no standard except market whims and the expectations of gamblers. We need to go back to where governments printed instead of borrowing from central banks and the value of money was based on something tangible. You shouldn't be able to make money by trading money, it is not a good or a serve, it is a means to goods and service. We've named banks essential to the system and then given them license to gable with our money instead of just making a fair profit from loans at a reasonable rate and service fees, the total of which shouldn't be exponentially higher than what they pay us to use our money for loans. That's what their original purpose was. Governments gave them permission to run, not the other way around.