Submitted by davelj on December 30, 2008 – 9:46am.
arraya wrote:
And therein lies the problem with leverage…it relies on ever-expanding leverage and debt.
Our monetary system is based on debt and compound interest, which results in an ever expanding amount of “money” chasing dwindling natural resources on our finite planet.
To put another way: All money is born of debt and all interest on debt has yet to be created and is preferably created out of more debt. Got it, infinite debt has to be possible for it to work out. Faith-based economics.
That first quote looked suspiciously canned, and indeed it can be found verbatim on many “green” websites on the internet, including this one: http://www.grassrootsnetroots.org/articl…. Next time, do the authors a favor and use quotes. Or better yet, state a position using your own words, if possible.
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Actually, that was MY quote, and it’s something I’ve been saying for years (the link you’ve provided was written in 2008…perhaps they should give me credit?).
I’ll try to dig up old posts of mine to prove it.
Don’t ever accuse me of plagerism unless you know what you’re talking about!!! I’ve actually seen some of my posts from the HBB used, almost verbatim — paragraphs even — in newspapers just a couple of days after my posting. I never got any credit, but my point is to get information and a different perspective out to the public.
