tag:blogger.com,1999:blog-5889026769761133073.post7358995076820135771..comments2023-12-22T08:42:36.132+00:00Comments on Gaian Economics: You only give me your funny paperMollyhttp://www.blogger.com/profile/12845612174674783187noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5889026769761133073.post-28958500627644907312008-04-17T18:35:00.000+01:002008-04-17T18:35:00.000+01:00RE:TRANSFINANCIAL ECONOMICS.It is true that banks ...RE:TRANSFINANCIAL ECONOMICS.<BR/><BR/>It is true that banks create money out of thin air. Yet, the real issue whether we can develop a credible financial system which would solve many of the woes of our world. See my project...<BR/><BR/>http://www.p2pfoundation.net/Transfinancial_EconomicsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5889026769761133073.post-23128695557750136812008-04-09T21:36:00.000+01:002008-04-09T21:36:00.000+01:00Yes, it is indeed true that “some” banks undertook...Yes, it is indeed true that “some” banks undertook risk which they neither understoond nor cared to understand, as long as the profits came in. However I don’t accept your premise that the current credit squeeze is a function of banking malfeasance in general. This is just not support by the facts. I would also like to point out to you (in case you missed that part!). At no time were any of the mortgage applicants held to ransom in undertaking mortgages to which they could not afford.<BR/><BR/>It is a function of the global economy that cycles exist, and yes unfortunately people lose their houses. This is tragic, but let us not gets carried away! – If I choose to undertake a mortgage, I have to be prepared to accept the consequences should I be unable to live up to my obligations, that’s just life.<BR/><BR/>Banks are in the business of making money, just as any other private enterprise.DOppenheimerhttps://www.blogger.com/profile/18320898602923648858noreply@blogger.comtag:blogger.com,1999:blog-5889026769761133073.post-86692436501741396082008-03-30T16:05:00.000+01:002008-03-30T16:05:00.000+01:00The way the banks do things is at once strange and...The way the banks do things is at once strange and not so strange. The entire act depends on us accepting the idea that the paper has value and so long as we do accept this it does but if we stop believing it stops having value. Value is, therefore, dependent on faith alone... hmm... sounds quasi-religious.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5889026769761133073.post-34660732461919403662008-03-18T09:59:00.000+00:002008-03-18T09:59:00.000+00:00It is indeed obscene that some of the very institu...It is indeed obscene that some of the very institutions that got us into this appalling mess are now stacking up fat profits on the resultant panic. And we are paying the cost, and being 'gifted' a series of state mortgages...<BR/>It's time, it seems to me, to start talking about nationalising the banks... As they were doing on no less an august national institution than the TODAY programme, this morning! ;-)Ruperthttps://www.blogger.com/profile/04334135270533978426noreply@blogger.com