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Re: Interest payment is not the problem

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  • Thu, Jul 08, 2010 - 10:26pm

    #18
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: Interest payment is not the problem

Farmer,
(I didn’t read your answer before posting above because the site or my browser or whatever was hiding it beforehand.)

100% agreement with your post here.

If you look at Diarmidw’s logic, you could simplify the sample transactions:

Banker gives a winemaker credit.
Winemaker transfers deposit to others in exchange for labour and resources and makes wine.
Winemaker retracts deposit by selling wine.
Winemaker repays credit and deposit is extinguished. Terrific.

Winemaker owes interest to banker, thus gives a bottle of wine to banker.
And, banker owes interest to depositors, thus holds a wine fest with his depositors.

Thus, we must just dictate a 100% dissipation rate of any interest payments in the banking system by law to make the system work perfectlySurprised