RE: Fractional Reserve Lending
October 20, 2016 at 10:31 pm
(This post was last modified: October 20, 2016 at 10:33 pm by The Grand Nudger.)
-continuing with why subtle inaccuracies and tiny omissions matter...the government taxes all that shit we spend the loans on anyway, and they tax the profits the banks make on the loans.
They get their slice of the money -they- create by both allowing the banks to engage in this practice -and- backing the loans extended. So...make hospitals with that? Or, I guess they could keep sending it down whatever black hole they send it down. I guess I;m just not as enamored as you with the idea of my government deciding whether or not I can have my 300s, or with lines of credit being scarce and interests rates high, particularly if the other option on the table is letting all that potential growth sit in a vault where some geriatric hoards over it like a dragon with a pile of gold?
They get their slice of the money -they- create by both allowing the banks to engage in this practice -and- backing the loans extended. So...make hospitals with that? Or, I guess they could keep sending it down whatever black hole they send it down. I guess I;m just not as enamored as you with the idea of my government deciding whether or not I can have my 300s, or with lines of credit being scarce and interests rates high, particularly if the other option on the table is letting all that potential growth sit in a vault where some geriatric hoards over it like a dragon with a pile of gold?
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