Imagine a world where nobody lends money unless you're popular enough.
People always flag it up, yet nobody pauses to think how ridiculous it would be if interest on loans didn't exist. Flat fees don't compensate based on risk.
I've seen these kind of things. The wealthy do fund and profit off war. They profit off any major event, really. It's a lack of morals, but it's nothing unique. A lot of poor people do the same but their gains are proportionately lower.
Hell, your pension fund probably profits off war. I know someone who made big money buying ADRs of Israeli defense companies after October 7th.
I don't buy defense stocks. Profiting off male deaths is awful.
Back to my original point...how on earth would a banking system without interest work? Every logical implementation turns finance into a popularity contest where only those popular in the community get funding.
You should give it a watch when you get some free time
Wealth accumulates + the wealthy not only take advantage of crisis but the truly wealthy organize crisis = the true power is held in those who hold the oldest wealth
Good stance to take on war-profiteering
Perhaps the future isn’t one of bankers and debt-slaves, renters and rentiers, but something else. This is a monumentally important subject.
There's no way for the financial system to function without interest, credit scores etc without becoming a popularity contest. 2008 showed what happens when you ignore credit scores and treat every lending offer as the same.
Imagine a world where nobody lends money unless you're popular enough.
People always flag it up, yet nobody pauses to think how ridiculous it would be if interest on loans didn't exist. Flat fees don't compensate based on risk.
All wars are banker’s wars
https://communities.win/c/KotakuInAction2/p/17t1yIErpL/old-news-for-some-perhaps-a-miss/c
I've seen these kind of things. The wealthy do fund and profit off war. They profit off any major event, really. It's a lack of morals, but it's nothing unique. A lot of poor people do the same but their gains are proportionately lower.
Hell, your pension fund probably profits off war. I know someone who made big money buying ADRs of Israeli defense companies after October 7th.
I don't buy defense stocks. Profiting off male deaths is awful.
Back to my original point...how on earth would a banking system without interest work? Every logical implementation turns finance into a popularity contest where only those popular in the community get funding.
Few things in no particular order:
You should give it a watch when you get some free time
Wealth accumulates + the wealthy not only take advantage of crisis but the truly wealthy organize crisis = the true power is held in those who hold the oldest wealth
Good stance to take on war-profiteering
Perhaps the future isn’t one of bankers and debt-slaves, renters and rentiers, but something else. This is a monumentally important subject.
Again, you're avoiding the issue I brought up...
There's no way for the financial system to function without interest, credit scores etc without becoming a popularity contest. 2008 showed what happens when you ignore credit scores and treat every lending offer as the same.