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Forget entrepreneurs, only banks can create wealth
We must hope the banks become less sick and less mad, and realise that to save themselves they must save everyone.
Entrepreneurs, it has been said so many times over the past 30 years, create wealth. Right this minute, the foolish government is sitting around, waiting with bated breath, for glamorous entrepreneurs to get on with doing just that. But there are no signs that a great boom in business ingenuity is on its way.
So why are entrepreneurs being so shy? Don't they want to create wealth? They probably do. But the fact is this: the entire entrepreneurs-create-wealth thing is a fallacy, and the government is wrong to place its faith in it. Entrepreneurs don't create wealth. Banks create wealth, only banks. If you wonder why politicians seem so powerless to "rein them in", then wonder no more. It is for this simple reason: banks have a monopoly on wealth creation.
Source and full piece: Deborah Orr, The Guardian, 2 June 2011
- Tom Sullivan's blog
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Re: Forget entrepreneurs, only banks can create wealth
This has to be about the dumbest thing I have ever read in The Guardian.
Banks do not create wealth for the general population. They create wealth for themselves by creating debt for everyone else. The Bank of England does so when it prints currency. The high-street banks and commercial banks do so when they use the fractional reserve system to loan many times what they have on deposit.
Banks don't produce anything of worth. They don't make things, let alone make things that can be exported, helping the balance of trade. Banks are fraudsters. Banks are wealth thieves.
The reason why entrepreneurs are not coming forward is because the parasitical banks have effectively sucked a sizeable proportion of the wealth out of the general population. Entrepreneurs or not, you need some wealth to create more wealth.