Here is where this argument falls short. If banks (or any kind of lenders) choose what recompense that they want, they should be able to (or can do what ever they choose) to give the money that they possess to whoever they want (or deem appropriate) in order to reward themselves for their effort.
The essence of the nexus is that money is nothing more than a medium of exchange. That is: if I want (or need) something that you have that I don’t have, I need to get it from you. There are two ways for this
to happen. Either I give you something that I have that either you want or need in order to get what you have that I need, or I simply take it from you. (In any kind of real world order simply taking and getting whithout any notion of recompense would make sense.) If banks, or those in possession of money, decide the means of exchange for what they possess (money) to give to you, it makes perfectly good sense that they can do so. And if you do not want to make the exchange on those terms then don’t, or go elsewhere. The real crux of this whole business is not the rates of exchange for money, but the need for money in the first place. The problem is that in “civilized society” I cannot simply take what I need (or want) in order to survive. I have to make an exchange (now for money). And that is what the issue of interest rates is really all about. It is not the rate of exchange that is important; it is the possession of "property" that is important.
Thanks so much for reading and commenting, Jan. It's stunning how crafty even highly regulated industries can be when evading the law. And we refuse to close the loopholes, and that is one of the "why's" in this scenario.
And my sweet Bocci! He is adorable indeed— thanks! My former neighbor, who is a professional photographer, took a number of pictures of him after his adoption, and that is one of them. He was only 8-10 months old when I took him home. He's quite elderly now and on lots of meds, but still manages to assist my research. What a trooper my boy is!
Here is where this argument falls short. If banks (or any kind of lenders) choose what recompense that they want, they should be able to (or can do what ever they choose) to give the money that they possess to whoever they want (or deem appropriate) in order to reward themselves for their effort.
The essence of the nexus is that money is nothing more than a medium of exchange. That is: if I want (or need) something that you have that I don’t have, I need to get it from you. There are two ways for this
to happen. Either I give you something that I have that either you want or need in order to get what you have that I need, or I simply take it from you. (In any kind of real world order simply taking and getting whithout any notion of recompense would make sense.) If banks, or those in possession of money, decide the means of exchange for what they possess (money) to give to you, it makes perfectly good sense that they can do so. And if you do not want to make the exchange on those terms then don’t, or go elsewhere. The real crux of this whole business is not the rates of exchange for money, but the need for money in the first place. The problem is that in “civilized society” I cannot simply take what I need (or want) in order to survive. I have to make an exchange (now for money). And that is what the issue of interest rates is really all about. It is not the rate of exchange that is important; it is the possession of "property" that is important.
Thanks so much for reading and commenting, Jan. It's stunning how crafty even highly regulated industries can be when evading the law. And we refuse to close the loopholes, and that is one of the "why's" in this scenario.
And my sweet Bocci! He is adorable indeed— thanks! My former neighbor, who is a professional photographer, took a number of pictures of him after his adoption, and that is one of them. He was only 8-10 months old when I took him home. He's quite elderly now and on lots of meds, but still manages to assist my research. What a trooper my boy is!
Wow I had no idea about any of this.
Except puppy mills and pet stores and I stand in agreement with all you wrote on that.
Bocci is absolutely adorable! Honestly thought you had used an online image- that photo is perfect! 🧡