dbuckley Posted January 24, 2009 Share Posted January 24, 2009 As I understand it (in a limited way): What the US banks, did by lending money they didn't have, to people who couldn't repay it and then repackaging (i.e. misdescribing) the debts as prime investment opportunities to be sold on (to Northern Rock, RBS, HBOS, etc.), was to effectively bypass the Federal Reserve as the source of the money supply. In short: they "printed" a load of virtual "cybercash" and then injected it into the global banking system. Close - the banks dont have a problem with "money they didn't have" - banks create money by the act of lending - See the instructive 47 minute video Money as Debt to understand how banks manufacture money out of thin air. Link to comment Share on other sites More sharing options...
Vanjast Posted January 29, 2009 Share Posted January 29, 2009 Mark, sad to hear this... From my experience..- Always persue a position that you have the most experience in, this will be your bread and butter.- Attend education courses related to this past position (your career choice).- Do other 'not so well paid' jobs as an interim means to an end. Personel Agencies .... are essentially 'NO HELP WHAT-SO-EVER'.. I repeat... but use them anyway. If you stay at home waiting... you will get despondent very quickly...Get out there and 'knock on doors'... be prepared for massive rejection, but this is a great experience on it's own.As you'll get to know your type of job market, which is invaluable information. Good Luck:up: Link to comment Share on other sites More sharing options...
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