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From: steve auvache on 22 Jul 2010 12:08 On Thu, 22 Jul 2010 09:19:13 +0000 (UTC), "Krusty" > >Sure it's paper money, but it still has to have some real money behind >it somewhere in the chain, Yes it is and yes it does. >otherwise... The money is real but what you are confusing is the fact it is mostly quantum money and can thus be examined for both location and profit but not both at the same time. The problem happened when both place and profit had to coincide a little more accurately and modern banking values of tending towards each other were not good enough. .. -- steve auvache
From: steve auvache on 22 Jul 2010 12:22 On Thu, 22 Jul 2010 09:08:03 +0000 (UTC), "Krusty" <dontwantany(a)nowhere.invalid> wrote: > And *that* is the reason why lots of 'proles' took >out mortgages they couldn't afford to pay. You really don't get it do you. This whole thread is going round and round discussing this and that minor detail when the core of it is that the "financial sector" /*_SOLD_*/ money to folks who didn't really understand why they were buying it and the consequences thereof. And it weren't just the proles, this happened all up and down the food chain where the variously deep pockets of purchasers were charmed by the patter of the sellers. -- steve auvache
From: steve auvache on 22 Jul 2010 12:31 On Thu, 22 Jul 2010 09:36:08 GMT, ensmjc(a)bath.ac.uk (M J Carley) wrote: >In the referenced article, SaladDodger <salad.dodger(a)gmail.com> writes: >>On 22 July, 09:26, ens...(a)bath.ac.uk (M J Carley) wrote: >> >>> So bribing politicians is the fault of the politicians but not of the >>> people handing over the bribes? >> >>If the politicians stood by their (socialist, in this case) >>"principles", then no bribe would take place. > >Tony Blair made a point of saying he wasn't a socialist. Rather stating the bleeding obvious though. -- steve auvache
From: Adrian on 22 Jul 2010 12:46 steve auvache <dont_spam(a)thecow.me.uk> gurgled happily, sounding much like they were saying: > You really don't get it do you. This whole thread is going round and > round discussing this and that minor detail when the core of it is that > the "financial sector" /*_SOLD_*/ money to folks who didn't really > understand why they were buying it and the consequences thereof. More fool them, then, for buying themselves into VERY expensive and long- term contracts for things they didn't understand. Should there be an exam before a mortgage is paid out?
From: steve auvache on 22 Jul 2010 12:56
On 22 Jul 2010 16:46:09 GMT, Adrian <toomany2cvs(a)gmail.com> wrote: >steve auvache <dont_spam(a)thecow.me.uk> gurgled happily, sounding much like >they were saying: > >> You really don't get it do you. This whole thread is going round and >> round discussing this and that minor detail when the core of it is that >> the "financial sector" /*_SOLD_*/ money to folks who didn't really >> understand why they were buying it and the consequences thereof. > >More fool them, then, for buying themselves into VERY expensive and long- >term contracts for things they didn't understand. No you are wrong. The fools are us, for allowing unrestrained capitalism to flourish. Quite simply; we made the mistake by omission and in the future need to move the goalposts so it doesn't happen again. >Should there be an exam before a mortgage is paid out? Yes. -- steve auvache |