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The money never existed in the first place.Here's how it works.Person A opens a savings account at the bank of, lets say 100,000 euro.Person B goes to the bank and asks for a loan to buy a house of, lets say 100,000 euro.The Bank uses the 100,000 euro of Person A to pay the guy that sells the house to Person B.Then Person B seems not to be able to pay off his loan due to loss of job or whatever.Now, if Person A wants to retrieve his savings, he'll notice it isn't there anymore.consequence: Crisis!Summarized: The banks gave away too much credit to people thinking that they'd all be able to repay the loan with some intrest. They did this beyond their own liquidity out of pure greed.
They are all Bankers !!
Your spelling is definitely improving sheepy, just one letter wrong there!Quote from: neilep on 15/09/2009 15:39:26They are all Bankers !!9/10
Quote from: neilep on 15/09/2009 15:39:26They are all Bankers !!With a capital W.