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<blockquote data-quote="Brute 23" data-source="post: 1430657" data-attributes="member: 6291"><p>I was sitting with some guys on a hunting lease a couple weeks ago. They are all fairly wealthy. They all had decent amounts of money in several of the digital currencies.</p><p></p><p>Last week when I went to trade my truck in the value of my old truck was based off of what a bank would lend the next person to buy it. That should tell you right there how things work. So basically if the bank says its good... its good. If the bank says its bad... its bad. People eat that up... they worship these banks and make them rich. They would give me lower interest rates and more incentives to do 5 and 6 year loans. You want to know why vehicles are $65K... because they bank will lend it. You want to know why a college educations is $10K a semester... because the bank will lend it.</p><p></p><p>The down side to all that is we will all be affected when these banks crash because my truck wont be worth jack because the majority of people can't get out there check book and buy it if they had to. You house won't be worth squat because there won't be any one to buy it if the bank doesn't make a loan for them. Our cattle won't be worth squat because the buyers can't get lines of credit from the banks. </p><p></p><p>We are 100% dependent on the banks to operate our whole economy. Supply and demand, actual value of an asset, how much some thing can actually return in revenue are all secondary to the bank. The banks control the market.</p></blockquote><p></p>
[QUOTE="Brute 23, post: 1430657, member: 6291"] I was sitting with some guys on a hunting lease a couple weeks ago. They are all fairly wealthy. They all had decent amounts of money in several of the digital currencies. Last week when I went to trade my truck in the value of my old truck was based off of what a bank would lend the next person to buy it. That should tell you right there how things work. So basically if the bank says its good... its good. If the bank says its bad... its bad. People eat that up... they worship these banks and make them rich. They would give me lower interest rates and more incentives to do 5 and 6 year loans. You want to know why vehicles are $65K... because they bank will lend it. You want to know why a college educations is $10K a semester... because the bank will lend it. The down side to all that is we will all be affected when these banks crash because my truck wont be worth jack because the majority of people can't get out there check book and buy it if they had to. You house won't be worth squat because there won't be any one to buy it if the bank doesn't make a loan for them. Our cattle won't be worth squat because the buyers can't get lines of credit from the banks. We are 100% dependent on the banks to operate our whole economy. Supply and demand, actual value of an asset, how much some thing can actually return in revenue are all secondary to the bank. The banks control the market. [/QUOTE]
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