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RE: Some Thoughts About Usury And Fractional Reserve Banking
The fact that they can just print money on demand also drives the cost of homes up because people buy based on what they can borrow, not on what they have earned.
Exactly. And when it all comes falling down the people at the top aren't the losers. It's kind of like the used-car dealers who 'finance' the car for you, but the price is twice what you would buy it for with cash. If you bail after paying off a quarter of the loan, they repossess, do the same deal with someone else, and if they bail, they already have what the car was really worth and still have the car.
Predatory lending is where the person making the loan is sad when you make all of the payments because they aren't making as much money when you do that. Helluva system...