2026-04-01
Once upon a time, "banking" was all about allowing people to save their money (ie: the unspent wealth that they had created, the ability to buy the produce of others in the market) and lend it temporarily to those who need in effect to borrow money from their future production to buy the current produce of others. This was a genuine service that also allowed market sellers to sell their produce to those who did not yet have enough money to buy it. It thus avoided both deflation and inflation and was a genuine win-win situation.
Within limits of course. To keep the money supply in balance with the quantities of produce available in the market (and thus avoid inflation), only the money earned in the market (but not yet spent to buy goods) should be loaned out.
These days though (and for many years past) bankers (supremely facilitated by electronics) have become expert at lending out fake money (ie: not representing any production available in the market and therefore inflationary in effect) and getting reimbursed with real money by their borrowers.
To make the scam invisible and thus foolproof, there is no way to distinguish the fake money from the real money at point of use. They even have the cheek to set an official target for inflation!
It's a 'nice little earner' of course, so why don't we all do it? Well, you need a banking licence. Only the most irresponsible and connected people need apply. And you need the ability to print money - but most money these days simply inhabits computer records, so no physical printing is necessary.
Well, what are our friendly bankers up to now? Well, not too much ... it seems that they merely want to regulate (ie: control) every aspect of our world and everything we do. What could possibly go wrong?
(15 minutes)
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