Friday, 11 April 2014

Fundamental Problem with Banking System

Sometimes economics is very simple -
See, Govt do not create new money, Banks create money and bank distribute money using new loan in term of house loan, credit cards or education loans. So all money created in form loans. So somebody from us will not be able to pay his/her loan because we all need to pay them with Interest and total money in the whole system is equal to total loans, for paying Interest, we need to put more loans in our system, this is an end less cycle where we will never to pay our loans.
Apart from this problem, We have second more dangerous problem too,
Because banks create loans, they give heavy loans with very low interest rates to Rich-Super Rich society, on the name create jobs and industry. But the reality is , this elite rich society will become more rich and wealthy by this process.
This system has create gap in our society. We need an International revolution to remove this system.

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