How our economic system works

[dfens]

1) Central banks create money out of thin air
2) They loan the money first to big private banks, who then loan the money to governments and corporations
3) Interest rates are driven to zero to make the loans easier to repay
4) All of us repay the loans when we work, consume, and pay taxes
5) If the loans can't be paid back, the central banks print more money and transfer the loans to their balance sheet

Rinse and repeat to infinity.

Don't like the idea that humans are debt slaves forever? Just try to change it. See how far it gets you.

 

[Toddsterpatriot]

1) Central banks create money out of thin air
2) They loan the money first to big private banks, who then loan the money to governments and corporations
3) Interest rates are driven to zero to make the loans easier to repay
4) All of us repay the loans when we work, consume, and pay taxes
5) If the loans can't be paid back, the central banks print more money and transfer the loans to their balance sheet

Rinse and repeat to infinity.

Don't like the idea that humans are debt slaves forever? Just try to change it. See how far it gets you.

2) They loan the money first to big private banks

Not really.

 

[Onyx]

The OP is not entirely correct. but it is close enough.

The ruling class borrows money to serve its interests, while we are put to work to keep the national credit rating high. We are not slaves to the debt, but rather slaves to those in power, like we always have been.

 

[Toddsterpatriot]

The OP is not entirely correct. but it is close enough.

The ruling class borrows money to serve its interests, while we are put to work to keep the national credit rating high. We are not slaves to the debt, but rather slaves to those in power, like we always have been.

The OP is not entirely correct.

Mostly incorrect.

 

[EdwardBaiamonte]

1)

Don't like the idea that humans are debt slaves forever?

seems like you have a new system in mind. Why be so afraid to share it with us??

 

[Jomama]

Or said another way; Americans have liquid, easy to carry and digitizeable currency that is readily accepted as payment around the world. Oh the horrors!!!

 

[EdwardBaiamonte]

The ruling class borrows money to serve its interests, .

1) most people in all classes borrow money to serve their interests!!!!!
2) libcommies love the idea of class. It excuses their failure and gives them license to become libcommie thiefs rather than to work to upgrade their class.[/QUOTE]

 

[Onyx]

1) most people in all classes borrow money to serve their interests!!!!!

Except the ruling class has an everlasting line of credit in the form of the taxpayers.

2) libcommies love the idea of class. It excuses their failure and gives them license to become libcommie thiefs rather than to work to upgrade their class.

Okay.....

Acknowledging classes is just adhering to reality. Sociology is nothing to shy away from.

 

[EdwardBaiamonte]

Okay.....

Acknowledging classes is just adhering to reality. Sociology is nothing to shy away from.

libcommies acknowledge class only to use it for theft and political power

 

[EdwardBaiamonte]

Except the ruling class has an everlasting line of credit in the form of the taxpayers.

and best example of this is????????

 

[Onyx]

and best example of this is????????

The national debt.

 

[Onyx]

libcommies acknowledge class only to use it for theft and political power

Good thing that I am not a libcommie.

 

[EdwardBaiamonte]

and best example of this is????????

The national debt.

how is that an example???????????

 

[EdwardBaiamonte]

libcommies acknowledge class only to use it for theft and political power

Good thing that I am not a libcommie.

subject was not whether you are a lib commie but way in which libcommies use class for theft and political power

 

[Onyx]

how is that an example???????????

It is an unlimited line of credit supported by the taxpayers.

Derp.

 

[EdwardBaiamonte]

how is that an example???????????

It is an unlimited line of credit supported by the taxpayers.

Derp.

well, since we have the most progressive tax code in world wherein top 10% pay 70% of federal income tax and top 1% pay 44% of all federal income tax your argument is 100% backwards. isn't thinking fun?? You're not a lib commie just a plain commie class warrior and economic illiterate???

 

[Onyx]

well, since we have the most progressive tax code in world wherein top 10% pay 70% of federal income tax and top 1% pay 44% of all federal income tax your argument is 100% backwards. isn't thinking fun??

What does progressive taxation have to do with the fact that the national debt is an endless line of credit sustained by the taxpayer?

Maybe you are conflating the ruling class with high capital individuals?

You're not a lib commie just a plain commie class warrior and economic illiterate???

 

[EdwardBaiamonte]

Maybe you are conflating the ruling class with high capital individuals?

why be an idiot? Why so afraid to tell us who the ruling class is. What do you learn from your fear?

 

[Onyx]

Why so afraid to tell us who the ruling class is.

I wasn't aware that was a question being asked.

The ruling class constitutes all those engaged in the power trade.

What do you learn from your fear?

To not feed the morons.

 

[EdwardBaiamonte]

The ruling class constitutes all those engaged in the power trade.
.

why so afraid to name them??? What do you learn from your fear???


The film[The Ruling Class] stars Lewis H. Lapham, who plays himself as editor of Harper's Magazine. Lapham opens the film with the question of whether or not America has a "ruling class," a circle of wealthy and powerful families that run the banks, businesses, and government, essentially controlling everything in America.