Anonymous Coward writes:
"http://www.theguardian.com/commentisfree/2014/mar/ 18/truth-money-iou-bank-of-england-austerity
Back in the 1930s, Henry Ford is supposed to have remarked that it was a good thing that most Americans didn't know how banking really works, because if they did, 'there'd be a revolution before tomorrow morning.'
Last week, something remarkable happened. The Bank of England let the cat out of the bag. In a paper called "Money Creation in the Modern Economy", co-authored by three economists from the Bank's Monetary Analysis Directorate, they stated outright that most common assumptions of how banking works are simply wrong, and that the kind of populist, heterodox positions more ordinarily associated with groups such as Occupy Wall Street are correct. In doing so, they have effectively thrown the entire theoretical basis for austerity out of the window."
(Score: 3, Insightful) by jimshatt on Tuesday March 25 2014, @06:52AM
You're right, but I've always wondered why this is so. Sure it's cool to have enough money to do whatever you want and still have enough left to resupply your wealth without doing any work (aka Fuck-You Money). But there are some people having more than FU-money. Why? What is the end goal?
Getting into conspiracy theory territory here: Is the goal to have complete, absolute, totalitarian world control? And then what? I mean, I'm fine with that. I, for one, welcome our totalitarian Koch brother overlords. But they have some serious existentialistic issues to resolve after that.