Quote:
Originally Posted by Delgar
Start with this:
http://www.getobjects.com/Components.../concepts.html
And then dig into the history books, and look what happened when interest bearing loans weren't allowed for religious and social reasons.
Finally, consider that the world's entire economy, whether you live a democracy, autocracy, communist dicatorship, or whatever, ultimately has a worldwide financial system as its trade underpinning, and nobody can do what you would suggest without first achieving complete anarchy. Because it would take complete anarchy for all of that debt to be wiped off the books. The debt is in most cases not government owned. It is privately owned, but protected by laws which governments create. |
Thanks, very informative post. My job only adds to the problem of putting people in more debt. At the end of the day my only task is to get people money, paying it back is between them and the bank. I have never really understood how the global economy truly works. My knowledge of finance starts at ma' and pa' need a new station and ends at "sign here".