Posted by RalphWSiegler
on June 14, 2009, 11:53 am, in reply to "Also see.."
I think the key is this line:
"The government should find the capital," he said. "It is the major shareholder in banks and it should insist that the banks put up the money for this - it's a safe bet that actually saves money."
There was something I read in another blog today (written by a cantankerous UK guy some of you former technocrat readers might remember, heh), that the car companies don't really sell cars anymore, they for the last 30 years have been selling financing packages.
To expand on that idea, our banking system is founded on debt and also needs money changing hands (velocity, the economists call it) ever more quickly. The banking cartels do not want anything that makes us less of consumers nor less in debt. They lose power and the ability to skim from transactions if that happens.
So there will be certain types of solutions the powers that be will find acceptable, These will be the kinds of solutions our government will push. Other solutions will be kept off the table.
We'll never have a system for our benefit without breaking the banking cartels grip.
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