Tag Archives: Corruption

Belief, Ethics and Public Policy

And why David Tredinnick is dangerously wrong. http://www.theguardian.com/politics/2015/feb/25/astrology-help-nhs-claim-conservative-mp-david-tredinnick  In many of my pieces over the years on this blog and on my old website at http://www.nagara.co.uk, I have touched on the theme of ethics and how rationality can be a … Continue reading

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The Trouble With Money

So sure were the speculators that such a fiction would come true that banks often loaned investors the money to invest without demanding any real collateral; and much like the sub-prime crisis of the last two years, the money supply vastly outstripped the value of the resources the money was supposed to represent.

All money is now created by lending. Banks lend money they don’t have and when that money is deposited in another bank, or the same bank – it doesn’t matter which – they are allowed to re-lend 90% of it again and again.

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