Wednesday, 20 June 2012

show me the money! blip,blip

This kept me up nights: How can you bail out somebody if you’re broke?
 Banks are broke. They're being bailed out continuously.
And yet their market manipulation is making countries give them
higher interest for the loans banks give to countries. But, banks
are broke!
I walk into a brokerage today and demand to be shown the money
that they're lending to countries. The broker guy says,
"there it is. on the screen. it's electronic."
I ask: "who made it? God?"
the answer: "we did. Lloyd was busy. Central banks allow us to make money
out of thin air. E-money is easier , especially if you don't have
a printing press"

This reminds me of Abbott and Costello 'who's on first?'

Banks seem very capable of helping out their friends in some countries. 
But for other banking problems, they need government help. 
Who’s giving money to the banks? 
Where are they getting the money? 
From Banks. 
Which banks? 
Those banks. 
Which are they? 
The ones seeking government money? 
So they’re using free money from governments to lend to governments 
at a big profit and then they go back for more money every so often? 
Who pays for all this? 
The people. 
These people? 
And their grandkids. 
Are they at least getting jobs and house loans? 
What are they getting? 
Don’t they know they’re paying for it all? 
I think so. 
So, they're paying to get less?
Why aren’t they on the streets, protesting? 
They’re busy finding food to eat.

at 1:35 (live!)