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The rich are getting richer for each year that goes, Middleclass are therefore relatively getting poorer compared to the rich. Yet we bail out the banks that su
by acd 14y ago
The rich are getting richer for each year that goes,
Middleclass are therefore relatively getting poorer compared to the rich. Yet we bail out the banks that supports the debt money of the super-rich. Thus we save the rich and put austerity packages on the poor.
There is not money for the principal in the current economic system.
Almost all money is debt. Less than 5% of banks assets are cash, the rest is debt.
The current economic system is a gigantic Ponzi scheme, were wealth is transferred from the working class to rich. Since there is not money for the principal the system will crash by itself since its inherently instable, but no we keep saving the debts the rich has created.
If central banks did not create at least 2% inflation
new money in its goals, since there is not money to pay the interest principal in the system, all banks would eventually go bankrupt.
We should create a new economic system with debt free money.
- gasull 14y agoAgreed. Except that new economic system already exists. It's called Bitcoin. Also, debt money isn't necessarily bad if it isn't controlled by politicians and bank oligarchs. Ripple is a good example of this.