You understand the idea of banking, don't you? A bank is a repository for safe-keeping of your money. You put money in, they protect it, and at some future point they give your money back with some interest added to compensate for having been able to use it in the meantime.
The bank then takes money which people have deposited and loans it to other folks for reasonable purposes like homes, cars, businesses. Those people pay the money back with some interest added to compensate the bank for having fronted the capital. The bank charges more interest for loans than they pay for savings. That difference is their proft.
That's a free market system.
Now, how does that work in a totalitarian society? What determines what the bank pays you, charges the loaner, and takes for profit when the free market doesn't?
Here's how that works:
Take This Much & No More. Don't Take Anything Unless We Approve
Isn't that neat? Your money in the bank. Bank's money in the loaner's hands. Bank owners looking to run their business on sound principles...
And government defining the game AFTER a contract was negotiated and signed between parties to the transaction!
Of course it is all for the poor working class people who didn't know they would have to pay the money back or lose their homes just like it says in the contract. Can't have consequences in our perfect world, can we?
1 comment:
Banks are carrying over a hundred Billion (with a B there) in mortgage debt that will not get repaid thanks to Obama and his policies...in the mean time I personally know two people living in homes they have not made a mortgage payment on in over a year...in both cases, neither has any intention of ever making payments. Banks cant foreclose because Obama forbids it.
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