The Best Business Model In the History of the World
- Thread starter What Would Jesus Do?
- Start date
The best part is that if you are an investment bank, you reap all the rewards and socialize all the costs and downside risk.
It’s fantastic.
It’s fantastic.
It actually is. It allows people to make their own decision to purchase things they don't have the money to purchase.
Only because of the Federal Reserve system.
It was invented to bail out the banks (owners) at the expense of everyone else.
True banks are critical in an advanced economy to organize savings and lending. Absolutely essential services in a capitalist economy.
What isn’t needed is fractional reserve lending, or pyramiding fractional reserve lending on federal debt instruments as though they represented savings (instead of what they actually represent, a future promise to confiscate that amount from productive society).
