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Tuesday, August 13, 2013
11 August 2013 8:15am
Because we afford banks the extraordinary privilege of creating the overwhelming majority of our means of exchange as bank credit (debt) - they get to decide what that credit can be spent on.
For many decades now the banks have poured VAST amounts of bank credit into the housing market, reasoning (correctly) that if they blew up a large enough bubble that the tax payer would have to bail it out when it went pop.
This has the effect of raising house prices and rents - so your inflated mortgage payments and rents are their profits.
As long as you are prepared to hand over ever increasing amounts of your income to banks - they will gladly accept your money.
IIf you want to understand and change this dynamic then start here
Otherwise look upon your decreased standard of living as a bank tax on your wilful apathy, ignorance and stupidity of their activities.
sketched by dweller at 8:43 pm
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