Watch this video on how our banking system works and you will be better able to understand why I believe our system is as doomed to failure as Communism was. I have been aware of and spoken out against, in this blog, the overuse of debt to finance the prosperity our parents and grandparents knew, but this video shows the underlying and undermining truth. Basically, a group of wealthy industrialists created a banking system that allowed them to print more money than they could back, making the money, in essence, worthless. They then told all of us that the money was good so that they could buy real assets with it. Now they own all the assets and when the system finally collapses under its own weight, they will have the valuables and we will have worthless paper. If you don’t believe me, research the Bolivian Peso and Monetary system, which I did for a friend who had what he thought might be worth something.
After that research, look at the credit card industry and how they continue to give credit to people who have shown they will not or cannot pay it back, forcing the costs onto the rest of us. Good credit, bad credit, no credit, don’t worry as long as the big wigs running the banks can get their money out before it folds. Reminds me of the Wall Street and Bank CEO’s who cashed in and jumped ship before the shit hit the fan in 2008. This is what the Republicans fight to maintain no matter what moral obligations they profess to be upholding. For more proof, research the causes of the Great Depression, the S&L bailout, and the meltdown in 2008 and you will see a recurring pattern. Banks over extending credit to questionable people, taking heavy long-term risks in favor of short-term profits then dumping the costs onto the middle class through fees or bailouts. Just look at the history of our economy from the Great Depression on