A Ghanaian fable.
http://worldcomplex.blogspot.com/2010/1 ... naian.html
Poor Kofi is trying to accumulate blocks to build a house. He meets a clever fellow who sells him a piece of paper representing blocks held in storage. Hilarity ensues.
Fractional reserve lending of concrete blocks
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Fractional reserve lending of concrete blocks
by mickeyman » Fri Oct 15, 2010 12:56 pm
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mickeyman - Penny Collector Member
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Re: Fractional reserve lending of concrete blocks
by Devil Soundwave » Fri Oct 15, 2010 1:17 pm
Thanks for the link, I enjoyed that. Very good point, well made!
Scotsman in residence...
The bankers rubbed their palms together, and the economy went up in flames.
"If the government is big enough to give you everything you want, it is big enough to take away everything you have." Gerald Ford.
The bankers rubbed their palms together, and the economy went up in flames.
"If the government is big enough to give you everything you want, it is big enough to take away everything you have." Gerald Ford.
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Re: Fractional reserve lending of concrete blocks
by Lemon Thrower » Fri Oct 15, 2010 1:45 pm
"I would not buy anything from someone named Kwame Sikani."
Lets Go Brandon!
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Lemon Thrower - Super Post Hoarder
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Re: Fractional reserve lending of concrete blocks
by AGCoinHunter » Fri Oct 15, 2010 2:21 pm
Good story. Thanks
“Guard with jealous attention the public liberty. Suspect everyone who approaches that jewel. Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you are inevitably ruined.”
"The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government - lest it come to dominate our lives and interests.”
- Patrick Henry
"The Constitution is not an instrument for the government to restrain the people, it is an instrument for the people to restrain the government - lest it come to dominate our lives and interests.”
- Patrick Henry
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