Saturday, 24 January 2009

money for nothing?

I'm sure that you, like me, are amazed at the going's on in the financial world at the moment. Billions of pounds being given to bail out a banking system that has once again caused misery to millions of hard working honest people.

I was thinking "where has this money come from to bail them out?" and it appears that we (the country) have borrowed it, racking up huge debts. So my next question is who have we borrowed this money from? Certainly not any foreign government who are to busy sorting their own mess out. Well it seems we have borrowed it from private banks...yes unbelievable, we have borrowed from the private banks at huge interest rates to give it to other banks who have cocked up and we will be landed with the debt for generations...and will probably never be paid.

It's quite amazing particularly as this money is really just figures tapped onto a screen and doesn't really exist and yet we pay huge interest on it.

I wonder what other people think of this. Are they angry or the outraged, do they not care a less. I'd love to know.

This site gives some useful information on money


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