Maria Thomas48 said:The whole system where import foreign exchange is sourced through credit, and then that money is multiplied through more loans/earnings and later used for imports and burning through that credit-based cash, creates a totally unrealistic picture of reality. Wasting unearned money happens every single time we buy more from overseas than we export.
I've been looking into Islamic banking and from what I can tell: it's the same crap in different packaging. I mean, who are we kidding? Bankers work for profit. Like everyone else. The difference is now they can just "simulate" the issuance of money.
I don't think you all quite grasp that it's impossible for everyone to be financially successful because the conditions simply aren't there. We can be hardworking, innovative, work 16 hours a day, or even if every single person works hard, we can't reach a point where everyone is paid fairly for their value if someone else in that circle manages to grab some sort of surplus for themselves.
That's what I wrote in my article "From problem to solution." We shouldn't turn a blind eye to this because it's happening and it's going to keep happening. Bankruptcy won't skip anyone. Not the government, not the banks, and none of the others. It's just a matter of time.
I've gotta know, is there actually anyone pulling the strings on how much money exists in the world? 🤷
So, (I'm guessing) because of what was quoted above, that's why there's so much hunger globally and so many people facing debt collectors here in the States?
Look, I'm a total amateur and monetary policy goes way over my head, but it seems like every single country is drowning in debt.
Sure, plenty of nations invested in manufacturing or something (like Ireland) or poured money into stuff meant to create new value, so (according to what they teach us in school) they should eventually pay those debts back.
But instead, it looks like every country is slowly sinking under the weight of it all...
Is it just that every nation has citizens who aren't taught any financial literacy and just spend like crazy?
Does that mean places like Germany, Spain, and Ireland are also being super reckless? (I mean, Greece and the US definitely have their issues)
It feels like the debt crisis everywhere started the moment people began piling up credit cards, right? (It really seems like that real estate bubble in Ireland was the culprit)
Btw,
@Nostradamus, I suggest you take that question you didn't get an answer to from the Fed and run it through your local Congressman.
When you hit up a Minister or a Cabinet official like that, they actually HAVE to give you a response within 30 days.