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Old 04-13-18, 07:35 AM   #506
Catfish
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A money system is not made to last forever. It will always crash, for whatever reason.
And the current system that has been detached from real hard worthy products, has its roots again in the USA.

Related to Skybird's link, but not quite as polemic.

"Let's think about what that might be, the economy: a bodiless abstraction that we observe from afar with daily and almost sacred attention. If the economy is doing well, we are a people full of hope. When the economy fails, the doomsday songs never go out. They are the same elements as in myths or religions. At the center of this economic belief is the guilt. We live in the age of debt and leverage, not capital. Leverage and guilt are the modes operandi, heart and soul of the global economy. Both are abstract dimensions of capital, not capital per se, or at least they were not, until in the 1980s the conversion of repayments into income became systematized as the most profitable activity in the world."


" ... if economic growth is based on the production and trade of real goods and services, the economy grows 2 percent. The capital, however, then grows by 4 to 5 percent. In short, real growth is 2 percent and capital growth is 5 percent. Eventually this becomes an unsustainable conflict. Finance is the interface between real growth and capital growth. General Motors no longer produces cars for the sake of car production, it produces cars to sell loans that yield 5 percent. The car becomes a justification of the bank loan, which financially means a fixed return payment that the buyer has to make for a certain period of time and which in turn can be sold. Finally, you can finally offer an insurance related to this transaction. It is a chain reaction of derivatives that creates a whole sector that, with the exception of the first activity, is completely detached from concrete objects."

https://translate.google.de/translat...-15532265.html

"We have become reducible to data that allows the system to benefit from us. So we became economic subjects who have lost their humanity."
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>^..^<*)))>{ All generalizations are wrong.

Last edited by Catfish; 04-13-18 at 07:50 AM.
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