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Originally posted by AlphaStarred lol Those slippery chimneys!

Lol right

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Originally posted by Zoso I can't speak to the claims of the free energy stuff, but the commentary on our fractional reserve banking system has been examined many times over (see Zeitgeist Addendum, e.g.), and I have no doubt that it (the system) is rigged to benefit a very few wealthy elite.

fractional lending is what allows you to borrow my bank account while still allowing me to spend it. it keeps borrowing costs down which means more people with modest means can afford to borrow- ie the exact opposite of "benefiting a few wealthy elite".

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Originally posted by pkcRAISTLIN fractional lending is what allows you to borrow my bank account while still allowing me to spend it. it keeps borrowing costs down which means more people with modest means can afford to borrow- ie the exact opposite of "benefiting a few wealthy elite".

I'm not saying there are no benefits to fractional reserve banking. I am simply stating that I can see how it COULD be manipulated/rigged by some to transfer wealth to/benefit a few at the expense of many. But one could say the same of many current economic vehicles.

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Originally posted by Zoso I'm not saying there are no benefits to fractional reserve banking. I am simply stating that I can see how it COULD be manipulated/rigged by some to transfer wealth to/benefit a few at the expense of many. But one could say the same of many current economic vehicles.

i'd like you to elaborate on how fractional lending can be "rigged" and how it would engender a transfer of wealth when compared to any other system of lending.

the process of borrowing requires consenting parties for mutual benefit.

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Originally posted by pkcRAISTLIN i'd like you to elaborate on how fractional lending can be "rigged" and how it would engender a transfer of wealth when compared to any other system of lending. the process of borrowing requires consenting parties for mutual benefit.

I would envision, in general, a scenario whereby those providing the majority of the wealth into the system could obtain and thus act on more "perfect information" than the borrowers.

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Originally posted by Zoso I would envision, in general, a scenario whereby those providing the majority of the wealth into the system could obtain and thus act on more "perfect information" than the borrowers.

i actually know exactly what that's like!

but that would remain the case regardless of what system of lending we had.

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