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leanback leanback 18-21, M 9 Answers Dec 28, 2012 in Hobbies

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I agree

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..and what will you use to pay for the fun you are having?

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See, that's the problem...

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indeed... :)

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Not really. Someone has to grow the food you eat and make everything else like your clothes so it makes sense that you pay them back by producing something for them.

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What if we did it all our selves and just shared?

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We can't because food growing, clothes making etc all take specialists to do them especially in the quantities and quality that we want them in. So the idea is that everyone produces and a symbol of their production is money.

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Money, is just paper we give value to. So that the ones who print the money have an actual control over us.

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No-one controls money because money is ultimately just an expression of the productivity of a country. It it makes more money than it can back up with production then everything collapses into hyper inflation. Of course there are people who think they control money. Check out "The Theory of Money and Credit" by Mises.

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I will check out that book if I can, but what about the central banks? Don't they control money?

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Central banks are a bunch of jokers. If it wasn't for them we wouldn't have recessions.

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That's true, but they do control how much money is printed right? The banks get bailed out over and over, we 're the ones that pay. Just because banks choose to be corrupt or sponsor sportsteams...

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Ordinary banks do. Central banks are different. What central banks do is guess where the interest rates of a country should be and then print money to lend to commercial banks which means that commercial banks can lower the interest rates. So you would assume that bank loans are financed by savings but typically interest rates are so low that no-one is encouraged to save so all loans actually come from printed money from central banks and very rich people who have to have their money in banks because there's no where else to put vast sums.

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I get what you're saying. You'd be surprised how much people actually save. The central banks govern the ordinary banks, so that would make them just as guilty in my opinion.

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Central banks stop banks operating as they should and force them into gambling on the stock market to make money.

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I wasn't aware of that practice. Their motives remain unknown to me though.

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Oh they genuinely think they're regulating the economy for everyone's benefit.

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I used to think they were really intelligent people with evil motives. Now I'm beginning to think that they're dumb people with good motives. Thanks for broadening my point of view.

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Never ascribe to malice what can be ascribed to incompetence.

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I'm still convinced it's a combination of the two in this case.

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haha, dream on, but yeah, I wish I didnt have to start working

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