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Why should money be derived from financial transactions in the first place? It is just electric bits going across the internet
by wu-ikkyu 10y ago
Why should money be derived from financial transactions in the first place? It is just electric bits going across the internet
- andrevvo 10y agoIt's a lot more than electric bits. Banks and other financial institutions allocate capital in the economy. By efficiently and effectively injecting capital into the right companies/sectors, the economy and standard of living will be drastically improved. It is in our best interest that it is the smartest and brightest making these decisions. Of course they should be compensated for these incredibly important services they provide.
- bawana 10y agoBut that was my point. Financial institutions USED TO inject capital into companies. Now they inject MOST of their capital into other financial instruments. Their 'investments' are actually just wagers - bets - because nothing is ACTUALLY manufactured and people are not actually serviced. Financial institutions should be outlawed from 'investing' money in any other financial institution or instrument.