September 20th 11, 12:52 PM
posted to rec.radio.shortwave,alt.news-media,alt.fan.rush-limbaugh,alt.politics.economics,alt.politics.liberalism
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First recorded activity by RadioBanter: Jan 2009
Posts: 5,185
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Real money v artificial money
On Mon, 19 Sep 2011 20:04:50 -0700, John Smith wrote:
On 9/19/2011 7:21 AM, Gary Forbis wrote:
...
Before getting into this I'd like for people to understand the
distinction between physical and financial capital.
When money is put into a bank and the bank lends it out what they are
lending is financial capital. Financial capital is really nothing more
than an aggregate of promises. Consider the confederate currency. It
had value then it didn't. The value of money is its value in trade.
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What the **** are you talking about? I don't see anyone swearing!
And, you already screwed up. Your "financial capital" they are loaning
out is just debt ... they are loaning 10 bucks for everyone they have to
back it up ... they are just loading the marks asses up with debt so
they will work like slaves to make the other 9 bucks and pay off the
debt they have created, and you so kindly agreed to pay off for them.
Regards,
JS
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