Quote:
Originally Posted by StuartD
Well, that's the thing... there has never been that much money in a physical sense, only in a credit sense.
People borrowing $100,000, using $10,000 and insuring it for $1,000,000 using $100??? This is all well and good but where'd the money come from? Where did it go? Who has it now?
Once money became virtual, people started trading it and sharing it and using it and even insuring it with other virtual money.... and this big pile of nothing that was more valuable than a room full of pallets of $100's... eventually blew up due to the greed at the top, as they started to think they could just keep looping this virtual money in circles however many times they wanted.
The thing is, most of it never existed in the first place!! And now that the system has come crashing down, it all needs to be covered but... how do you cover it when there never was that much money to begin with?!?!
How do you pay off trillions in debt and insurance... with $100?!?!
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At home I am reading a book now about some older business people who became market leaders the last 20 years in their fields of bizz. They all have a common background:
"most successfull businesses we know today were started/owned by people that lived in poverty we could not even imagine today and from it came their creativity and will to survive."
In the book I read there are 3 kinds of business owners/people.
1) the ones that build (1st generation). They put each dime back in the bizz to make it grow and they care only for the growth and it's succes and the people working there and their clients, never for personal arrogance or financial gain.
2) the ones that inherit and expand (2nd generation). They are carefull but spend too much, are more lazy and less aware and get sloppy.
3) the ones that ruin the bizz (3rd generation or hired CEO's/managers). Scrapers that care only for money and personal gain and don't give a shit about the company or even tommorrow.
Not saying everybody is like that. <<read>> It's a book!
So money is as good as the intention of people using these paper printings.