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By "someone else's" you surely mean "the bank's money". I don't think individuals are going to benefit from this, just a few large players around the world.
by black-tea 7y ago
By "someone else's" you surely mean "the bank's money". I don't think individuals are going to benefit from this, just a few large players around the world.
- Macross8299 7y agoThe money that banks loan out is not entirely their money.
- black-tea 7y agoBanks are not like a giant piggy bank with your savings in it. They create money when they create loans. They're not protecting "your money" with things like this, they are protecting their profits.
- cam_l 7y agoOr even money at all.
- coldtea 7y agoA large percentage of it is entirely their money. And in fact, not even actual money somebody at the bank owns, just numbers on their ledger (that they still make interest from borrowers off). In fact, there's most of the money the banks loan is not "somebody else's" at all, it's "loan money". https://opentextbc.ca/principlesofeconomics/chapter/27-4-how-banks-create-money/ https://opentextbc.ca/principlesofeconomics/chapter/27-4-how...
- ddingus 7y agoMoney created at the time of the loan. There is (in simple terms) as much money as people can reasonably borrow.
- TomMarius 7y agoAnd? Is a bank not worthy of the same rights as everyone else?
- black-tea 7y agoI don't believe corporations should always have the same rights as individuals, no. I certainly don't think they should have more rights.
- TomMarius 7y agoI meant other corporations, not individuals.
- coldtea 7y agoNo. If anything they should be closed down.
- TomMarius 7y agoAnd how would people get services typically offered by a bank? Sorry but most of people on this planet need banks because they don't have enough cash to buy real estate. Are you suggesting that people should not own their homes?
- klyrs 7y agoIf they're also afforded the same responsibility, sure. Because if people had the same rights as banks, I'd be free to gallavant down to Vegas, blow all my money on slots, and expect the government to vacate my debts and pay for my steakhouse dinner
- TomMarius 7y agoThat's a good point and I agree