2023-05-23
If you know how the banking system works then you know its central deliberate design flaw.
My first job was as a trainee bank clerk - knowing nothing about banking I was put to work on the Enquiries desk ...
Maybe they wanted to keep me ignorant. They certainly succeeded in convincing me that working for them was time wasted.
The simple con is that money doesn't grow on trees, it' much easier than that. It appears in computers with a few stokes of the keyboard - then you have to pay it back plus interest. With such a business model, how can banks fail?
It's hard, but they engineer it! And since they are too big to fail, governments co-opt us to bail them out.
Funny how governments always seem to work to the disadvantage of the people.
Now factor in the credit-card economy where the bankers take a percentage of every transaction in fees charged for posting the correct accounts and allowing you time to settle - £20 of nominal income becomes (for example) £19 actual income, that £19 becomes £18 when next spent, and after more transactions trails away to nothing much as the bankers have taken it all.
Now we appreciate the value of cash. £20 paid in cash remains £20 when next spent.
