I will try to throw some comedy into this thread, if I can. Unfortunately the subject is very un-funny and in some cases, has caused a lot of hardship and worse. WHERE IS THE MONEY? The financial crash of 2008, I believe was caused by (Apparently by Bill Clinton deregulating the banks) banks handing out mortgages to people who had little, if any, chance, or intention to repay them. This is the nub of the situation. Money, as I see it, is a bit like energy. It never (not quite) totally disappears, it just changes into something else. If you fail to repay your mortgage, the banks repossess your home. So, as I see it, the banks should now be in possession of a whole lot of property. The property, should be worth what it was when the mortgage was initiated. So, maybe I should be asking, "Where did all the repossessed property go?" A guy I worked with a while ago, told me about a scheme (sorry, did that sound like scam?) where governments (typically British) created what he referred to as a "70 year debt". He was able to rattle off to me, all the events in history where there was some sort of financial crisis, allowing the current (then) government to penalise the population with punitive taxes. Does something here sound familiar? So, government and banks, "WHERE'S THE (OUR) MONEY?"
Hunkydoree Forum Posts (31)
Banks! Where's the money? I need to know NOW.
I will try to throw some comedy into this thread, if I can. Unfortunately the subject is very un-funny and in some cases, has caused a lot of hardship and worse.WHERE IS THE MONEY?
The financial crash of 2008, I believe was caused by (Apparently by Bill Clinton deregulating the banks) banks handing out mortgages to people who had little, if any, chance, or intention to repay them. This is the nub of the situation. Money, as I see it, is a bit like energy. It never (not quite) totally disappears, it just changes into something else. If you fail to repay your mortgage, the banks repossess your home. So, as I see it, the banks should now be in possession of a whole lot of property. The property, should be worth what it was when the mortgage was initiated. So, maybe I should be asking, "Where did all the repossessed property go?"
A guy I worked with a while ago, told me about a scheme (sorry, did that sound like scam?) where governments (typically British) created what he referred to as a "70 year debt". He was able to rattle off to me, all the events in history where there was some sort of financial crisis, allowing the current (then) government to penalise the population with punitive taxes. Does something here sound familiar?
So, government and banks, "WHERE'S THE (OUR) MONEY?"