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  1. Confidence and Delusion Part II

    by , December 31st, 2011 at 02:05 PM (Rob Garbin's Blog)
    A sad facet of the debt based economy we have created is the ability to buy and sell debt to other parties. Again, this was a program created to help sell more products by having investors with money buy debt off the books of banks at a discount rate in hopes of making a profit off the remaining interest paid on the debt. The banks get more money to lend along with some of the profit and the investor gets the difference in profit from what they paid the bank and the total repayment of the debt ...