News2 mins ago
Love of money .....
14 Answers
....... is the root of all evil. This quotation from the Bible (Timothy) sums up the culture of most if not all parts of the world. We don't seem to know a way of life that doesn't depend on lending and borrowing money and of course having to pay for it - banking being a business in itself. There has to be some means of mutual aid and fair exchange, but can anyone envisage a society without the lending and borrowing business and how it could function?
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Where I live, we work on a barter exchange - a lady brings me fresh free-range eggs from her hens and I make her two cakes in return. I haven't paid for a car service in years, the guy over the road from me owns a garage he does mine and hubby's car, in exchange he's had his chimney repointed and roof repaired (courtesy of my brother - whom I help out on the farm) and has real ale we get given to us by my brother in law (he's a brewer at Theakstons) and comes to a couple of our big BBQ's we have every year - the gardening is done by a man in return for me doing his accounts ready for auditing, and we've had decorating done in exchange for concert tickets and CD collections (my husband works for Sony).
Even small things, like dog-walking is done in exchange for picking up children from school or taking somebody shopping - we've been doing it for about 17 years now - and never had a compalint yet!
Even small things, like dog-walking is done in exchange for picking up children from school or taking somebody shopping - we've been doing it for about 17 years now - and never had a compalint yet!
Definition of Quantitative Easing
An American walks into an Irish hotel/pub in a small town and asks for a room.
"I'll put down a deposit of 100 Euros but I will need to see your rooms before I decide." He produces two 50 notes and gives them to mein host.
"Just a sec" he says and goes out to the kitchen and gives the money to his wife. And then he goes back to show the visitor all his rooms.
The wife slips out the back door and goes to the supplies shop. "How much do I owe you?" "100 Euros." "Here you are and he gives her the two fifties.
The American comes downstairs with his host. "I don't like your bathrooms here, so I will move on to the next town." "That's alright Sir." He leans over to his wife and takes the two fifties. "Here's your deposit back. Have a good holiday in the Emerald Isle."
All outstandings settled...........no money transferred.
The owner of the supply shop slips over the road to the bakers. "How much do I owe you?" "100 Euros." "Here you are and he pays over the two fifties.
The baker heads next door to the butchers. "I owe you for the meat you sold me this last month, how much?" "100 Euros." "Here you are and she pays over the two fifties.
The butcher heads to the hotel/pub. Sees the wife of mein host. "Me bar tab, how much is it?" ""100 Euros." "Here you are and she pays over the two fifties.
An American walks into an Irish hotel/pub in a small town and asks for a room.
"I'll put down a deposit of 100 Euros but I will need to see your rooms before I decide." He produces two 50 notes and gives them to mein host.
"Just a sec" he says and goes out to the kitchen and gives the money to his wife. And then he goes back to show the visitor all his rooms.
The wife slips out the back door and goes to the supplies shop. "How much do I owe you?" "100 Euros." "Here you are and he gives her the two fifties.
The American comes downstairs with his host. "I don't like your bathrooms here, so I will move on to the next town." "That's alright Sir." He leans over to his wife and takes the two fifties. "Here's your deposit back. Have a good holiday in the Emerald Isle."
All outstandings settled...........no money transferred.
The owner of the supply shop slips over the road to the bakers. "How much do I owe you?" "100 Euros." "Here you are and he pays over the two fifties.
The baker heads next door to the butchers. "I owe you for the meat you sold me this last month, how much?" "100 Euros." "Here you are and she pays over the two fifties.
The butcher heads to the hotel/pub. Sees the wife of mein host. "Me bar tab, how much is it?" ""100 Euros." "Here you are and she pays over the two fifties.
IGNORE THE LAST - scrfew up with my cursor
Definition of Quantitative Easing
An American walks into an Irish hotel/pub in a small town and asks for a room.
"I'll put down a deposit of 100 Euros but I will need to see your rooms before I decide." He produces two 50 notes and gives them to mein host.
"Just a sec" the host says and goes out to the kitchen and gives the money to his wife. And then he goes back to show the visitor all his rooms.
The wife slips out the back door and goes to the supplies shop. "How much do I owe you?" "100 Euros." "Here you are and she gives the owner the two fifties.
The owner of the supply shop slips over the road to the bakers. "How much do I owe you?" "100 Euros." "Here you are and he pays over the two fifties.
The baker heads next door to the butchers. "I owe you for the meat you sold me this last month, how much?" "100 Euros." "Here you are and she pays over the two fifties.
The butcher heads to the hotel/pub. Sees the wife of mein host. "Me bar tab, how much is it?" ""100 Euros." "Here you are and she pays over the two fifties.
The American comes downstairs with his host. "I don't like your bathrooms here, so I will move on to the next town." "That's alright Sir." He leans over to his wife and takes the two fifties. "Here's your deposit back. Have a good holiday in the Emerald Isle."
.All outstandings settled...........no money transferred
Definition of Quantitative Easing
An American walks into an Irish hotel/pub in a small town and asks for a room.
"I'll put down a deposit of 100 Euros but I will need to see your rooms before I decide." He produces two 50 notes and gives them to mein host.
"Just a sec" the host says and goes out to the kitchen and gives the money to his wife. And then he goes back to show the visitor all his rooms.
The wife slips out the back door and goes to the supplies shop. "How much do I owe you?" "100 Euros." "Here you are and she gives the owner the two fifties.
The owner of the supply shop slips over the road to the bakers. "How much do I owe you?" "100 Euros." "Here you are and he pays over the two fifties.
The baker heads next door to the butchers. "I owe you for the meat you sold me this last month, how much?" "100 Euros." "Here you are and she pays over the two fifties.
The butcher heads to the hotel/pub. Sees the wife of mein host. "Me bar tab, how much is it?" ""100 Euros." "Here you are and she pays over the two fifties.
The American comes downstairs with his host. "I don't like your bathrooms here, so I will move on to the next town." "That's alright Sir." He leans over to his wife and takes the two fifties. "Here's your deposit back. Have a good holiday in the Emerald Isle."
.All outstandings settled...........no money transferred
Take a look at the Islamic banking system
http://en.wikipedia.org/wiki/Islamic_banking
It forbids loans with interest
Nearly as good as Star Trek with the added advantage of not being entirely made up!
http://en.wikipedia.org/wiki/Islamic_banking
It forbids loans with interest
Nearly as good as Star Trek with the added advantage of not being entirely made up!
Surely banking has always been a business? Moneylenders have been around since the Romans and before. Interest was always paid by the lender. Banks use our invested money to make more by investing it in larger projects as well as getting our interest payments. The problem only comes when they pick risky investments and lose our money. Sheer greed and the chance of easy money. Instead of getting bonuses they should have been fined and sacked. However money will always be lent/borrowed and interest will always be due.
yes jake islam forbid usery so they don't have interest, or rarther they do they just have other names for it. I used to work for Barclays and they at the time were a leading supplier of islamic mortgages and they were basically structured like the old HP agreements but with monthly admin fees. Just another name jake.
It couldn't function at all. Like most of what the Bible offers in advice, money lending being portrayed a bad is ignorant and simplistic. Just another example of typical religious arrogance
Lending funds the expansion of the economy. A barter system cannot grow because wealth is fixed.
Schemes where capital is provided without cost allow all kinds of stupid schemes to be funded lead to low productivity and put pressure on resources, leading to massive inflation and the erosion of the value of savings.
Where return is not based on productivity and investment, productivity inevitably falls.We see this under Communism.
But then anyone who believes the Bible has any answers is obviously too stupid to understand anything about economics.
Lending funds the expansion of the economy. A barter system cannot grow because wealth is fixed.
Schemes where capital is provided without cost allow all kinds of stupid schemes to be funded lead to low productivity and put pressure on resources, leading to massive inflation and the erosion of the value of savings.
Where return is not based on productivity and investment, productivity inevitably falls.We see this under Communism.
But then anyone who believes the Bible has any answers is obviously too stupid to understand anything about economics.
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