thegroovemonkey Posted August 23, 2014 Report Share Posted August 23, 2014 I dont think anyone here actually understands the niche that banks fill in our economy. Why would you though, every report int he media and portrayal of banks in pop culture has, for at least the past 6 years been extremely cynical and negative. Do banks have a lot of power that can be used for nefarious purposes? Yes. Are they the bane of our existence? No. It's not reported enough... most people think the (Fed/National Central Bank) is part of their government. Did you know that diamonds are also a scam? Doesn't really matter since you need to put a ring on it if you like it. Quote Link to comment Share on other sites More sharing options...
gwad12345 Posted August 23, 2014 Report Share Posted August 23, 2014 It's not reported enough... most people think the (Fed/National Central Bank) is part of their government. Did you know that diamonds are also a scam? Doesn't really matter since you need to put a ring on it if you like it. Lots of things are "scams" by that logic. Utility and value are two different things. Value is determined by supply and demand. Utility is just one of many factors influencing demand. Quote Link to comment Share on other sites More sharing options...
Grasman Posted August 23, 2014 Report Share Posted August 23, 2014 I dont think anyone here actually understands the niche that banks fill in our economy. Why would you though, every report int he media and portrayal of banks in pop culture has, for at least the past 6 years been extremely cynical and negative. Do banks have a lot of power that can be used for nefarious purposes? Yes. Are they the bane of our existence? No. Banks are an EXTREMELY profitable. Do banks have a lot of power that can be used for nefarious purposes? Yes Do some of them use that power for nefarious purposes when able to? Indeed Should there be strong restrictions to reduce their ability to use that financial muscle to do nefarious things? Absolutely Are they the bane of our existence? No Quote Link to comment Share on other sites More sharing options...
thegroovemonkey Posted August 23, 2014 Report Share Posted August 23, 2014 Lots of things are "scams" by that logic. Utility and value are two different things. Value is determined by supply and demand. Utility is just one of many factors influencing demand. Name one thing that is even remotely close. Quote Link to comment Share on other sites More sharing options...
gwad12345 Posted August 23, 2014 Report Share Posted August 23, 2014 Name one thing that is even remotely close. Gold, most precious stones, all luxury fashion (e.g. Louis Vuitton), and many others. You may be thinking about it in different terms but those all apply under the terms I gave. Banks are an EXTREMELY profitable. Do banks have a lot of power that can be used for nefarious purposes? Yes Do some of them use that power for nefarious purposes when able to? Indeed Should there be strong restrictions to reduce their ability to use that financial muscle to do nefarious things? Absolutely Are they the bane of our existence? No I agree with the first two although I think the second is a bit exaggerated. I would need to know what restrictions you actually mean though. As I said before I'm not against regulation so I'm sure I'd agree with many of your proposals but probably not all. Quote Link to comment Share on other sites More sharing options...
Guest Posted August 24, 2014 Report Share Posted August 24, 2014 A load of bullshit isn't the same as a scam, possibly this is a semantic issue? Utility and value are two different thing, but in terms of diamonds they have no utility in terms of 'engagement ring' but they still are held to have value by the people giving them and society. The premise is still that you're showing commitment by essentially committing a substantial financial investment to someone else. Prostitution, perhaps. A scam? Not really. Diamond miners remunerations and working conditions? That is a scam. Quote Link to comment Share on other sites More sharing options...
gwad12345 Posted August 24, 2014 Report Share Posted August 24, 2014 A load of bullshit isn't the same as a scam, possibly this is a semantic issue? Utility and value are two different thing, but in terms of diamonds they have no utility in terms of 'engagement ring' but they still are held to have value by the people giving them and society. The premise is still that you're showing commitment by essentially committing a substantial financial investment to someone else. Prostitution, perhaps. A scam? Not really. Diamond miners remunerations and working conditions? That is a scam. Its fucked up but its not a scam. It would be a scam if they told the workers they were going to pay them each 10 peanuts but actually paid them 2 peanuts. Quote Link to comment Share on other sites More sharing options...
Guest Posted August 25, 2014 Report Share Posted August 25, 2014 I'd argue that children do not have the legal capacity to agree to such a contract (although it depends on regional laws as regards the particular ages) so in this way it is a scam but yeah you're right for the most part, I just wanted to be contrary Quote Link to comment Share on other sites More sharing options...
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