Do you trust the Global banking system?

[BC02]

I might be missing something but I agree banks are only there to make profit, so all they do is facilitate something you want for a buck.
Having experience in a bank I've found no 'hidden agendas' on slavery of mankind more than any other business (that includes McDonalds).

Nobody forced 'the people/slaves'to take on more debt than they could afford - at what point will we stop only blaming banks and maybe look at ourselves as part of the mess?

[THRESHOLD]

The comment - yes. Otherwise the "advice" - more... worthless!

[DEP]

...too much debt = slavery (not banks as such - the masters of this whole trap is central banks lead by the FED)

[Fredsed]

Sangoma poses we were given government of the dumb sheep by the sharp sheep, for the liking of the royal people. But they only royal while the sheep still bleat it. Baaa

[SimonPB]

an if you say it often enough somebody may believe you ..

[DEP]

Well Simon, facts speak for themselves - open your eyes and look around you! Maybe, you will have to leave Sandton to see what debts does to people / nations!

[SimonPB]

you surely mean visit Sandton ??

[THRESHOLD]

AND visit North Korea or (time-jump) pre-emergence Russia to see what "No credit" does to people/nations. No credit = no growth!

[Rams]

Growth is not credit but return on equity so if you have no equity you should not borrow and so on ..

[THRESHOLD]

??? Who said growth was credit? I said "no credit = no growth." ie without creit there is no growth. You are so eagre to find an issue that you have not even paying proper attention.

[THRESHOLD]

eager

[THRESHOLD]

AND growth is not return on equity! ???

[THRESHOLD]

People borrow without equity and make money for both lender and borrower all the time. It is common practice. There is a school of thought that treats common equity as a form of initial debt. It forms the basis of the capital employed section of your balance sheet. The division between sources of funding are identified by their relative time frames. Long term liabilities can often be treated in a similar fashion to equity for most prurposes.

[DEP]

Threshold - take your blinkers off. The debt refer to on the initial thread is bad debt = debt to people and governments that are use for consumables i.e. never to give a return.

[THRESHOLD]

No DEP - you need to take your blinkers off - debt is debt. People use it for what they will. Bad debt is irrecoverable debt. Debt GOES bad. On the one hand people want freedom: "Don't tell us what to do. We are the masters of our own destiny." Then things go bad and the cry is "Help us. Save us from those evil banks. We didn't know what we were doing. You should have stopped us." Spare me!

[THRESHOLD]

You also need to realise that sometimes the banks / countries know they won't be paid back but go ahead and make the loans anyway. Germany (and the EU) to Greece for example - this is a rubbish loan but it will save the EU. China selling on credit (balance of p's) to the US - she has no choice - there are no oher buyers out there to keep her machine going. Debt is not bad - debtors are. Debt, in and of itself, is neutral. You cited biblical injunctions but these need to be seen in the context of an ancient world where default was unthinkable - it was morally reprehensible and the consequences horrific. Up until the beginning of the 20th century - debtors in England went to jail (gaol.) That is mild compared to biblical punishments. This is a brave new world (said Aldous.)

[DEP]

You wrong about the Bible - you follows its warnings (debts) and you will do well! I have proof of this!

[THRESHOLD]

Yes, but are you - proof of this?

[DEP]

YES!

[THRESHOLD]

I am awestruck!