Blog 13

2008-November-10

From the Book of Lehman 16-08

In the beginning there was industry and the people created wealth and prospered.
Then came forth the financial institutions, a multitude incapable of creating wealth.
And it came to pass that the people of the financial institutions became hungry.
And so verily, banks, bankers and un-backed, un-limited credit came to pass.
Like gods they created money out of nothing.
And financial institutions prospered.
And there was a blight on society.

 

See also: Who creates the ‘real wealth’ in the world?

Postscript:
On 2008-08-16 stock markets around the world collapsed, stocks and shares tumbled, billions of dollars were apparently lost.
But on 2008-08-17 the wealth of the world was the same as the day before, the buildings still stood erect, bridges and roads were intact, in other words nothing had changed in respect of the worlds wealth, only the perceived value of money and in whose pocket it resided had changed.

 

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