What If The Economic System Is A Total Sham?

For a general discussion of topics relating broadly to power and political economy (e.g., capital-as-power, Marxism, neo-classical economics, institutionalism).

Moderator: sanha926

What If The Economic System Is A Total Sham?

Postby Calm » Mon Aug 17, 2009 12:18 am

What if ... ?

The financial system itself is a scam?

I'm 62 years old and for my lifetime I have heard that the cookie jar is empty.

That the poor could not be helped because there was no money.

Then .... in a bat of an eye, the world finds trillions and trillions of dollars.

They say it has been borrowed .... but it seems to me that the amount available for borrowing is unlimited.

America has at least 600 trillion of derivatives floating around the universe .... God knows how much other countries have.

How could any one country have 600 trillion floating around and still claim that the financial system is operated by a "Theory"?

What if the "Financial" system is like the Tooth Fairy? What if it is just a story which is fed to us to have it appear that things are under control and that the Rich Folks would dearly love to help out the Poor Folks but the cookie jar is empty?

People need to believe that our system has built-in controls. If not there would be chaos.

But in reality there are no controls. Or the controls are pretense only.

If some bank wants to find some money, they simply invent a method or a piece of paper and all the financial wizards jump on board and justify it all.

If any economic theorist spoke negatively, they would be trashed into the dusbins of history and find themselves unemployed. So all the wizards paddle the same boat. When I was in university and I wanted to Ace a paper, I knew that my submission should not challenge the professors theory of things. My papers always supported the professors theories and I always aced the challenge.

I'm beginning to think that this story about governments paying interest on money borrowed from central banks (BIS) is a sham because any money paid to the bank as interest is simply given back to the governments as a loan.

Maybe believing in the "Accounting" practices of the financial system is like believing in God.

Maybe there is no "Real" or "Legitimate" accounting .... but just a story which they feed us all?

I think that the "Story" that we have been given since the world has gone off the Gold Standard is just a pack of lies .... a mirage of sorts to fill the need to blame poverty on forces out of our control.

I think that the Rich Folks are able to print as much money as they like and at no real cost to anyone at all. A means of enforcing a society of Class.

The fable which they sell as "Finance" or "Economic Theory" is a load of crap. There is no theory.

In ancient times of kings and queens, they used to have court magicians. Nobody knew or understood the magic and the magicians even dressed differently than others of the court. (As bankers do today with suits and ties.)

People believe in an Economic Theory in the same way they believe in a God.

People read the bible and they read anything into it that they want. The myth is carried on from generation to generation. But, it is still a myth.

Economists earn a living by furthering the economic myth, just as reverend's and rabbi's do. Each theory is just another brand of religion where an economist claims that God is speaking directly to him.

Calm
Calm
 
Posts: 21
Joined: Wed Dec 10, 2008 5:26 pm

Return to Political Economy

Who is online

Users browsing this forum: No registered users and 1 guest

cron