Out of thin air? "Have you ever said something like 'Let me buy you a beer next week'? I'm sure you have. We all issue promises of this sort. And we frequently use such promises as a form of currency... I have just described a simple credit exchange. Societies rely heavily on promising-making and promise-keeping. It is the foundation of all financial markets. I'd like to point out something about the promises you make. They are made 'out of thin air.' "
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posted by kliuless
on Apr 14, 2011 -
47 comments
Where Wealth Lives "The top 1% of families, as measured by net worth, receive about 15% of income but own 30% of the nation's assets -- including stocks and bonds, homes, and closely held businesses. That's according to the Federal Reserve's Survey of Consumer Finances. The top 10% of families, as measured by net wealth, own 65% of assets, and the top 50% own a stunning 95% of assets..."
posted by kliuless
on Apr 10, 2004 -
23 comments
How To Launder Money If the "terrorism can't be overpowered, it can only be undermined" train of thought holds true, then the money funding terrorist activities needs to be cutoff, especially considering they may directly profit from it (and theoretically at least, it's easier to choke off funds than grass roots ideology). From what I've read Osama bin Laden's money comes from wealthy fundamentalist sympathizers, "rogue" governments and the heroin racket. Governments create, maintain and oversee the money apparatus, but if money laundering can't be stopped I don’t see how terrorism can either, um short of eradicating poverty, "the petri-dish for the culture of suicide bombing."
posted by kliuless
on Sep 19, 2001 -
11 comments
