Why People Become Poor

[CuteOldGuy]

Guess what? It's not due to capitalism. The banking system fosters poverty. Here it is explained in less than 4 minutes.

http://www.youtube.com/watch?v=Cm7Z3...&feature=share

[Munchmasterman]

Originally Posted by CuteOldGuy

Guess what? It's not due to capitalism. The banking system fosters poverty. Here it is explained in less than 4 minutes.

http://www.youtube.com/watch?v=Cm7Z3...&feature=share

So how does a bank fail if they can create money whenever they want to or as much as they want to?

Can't they just find more poor people and make them poorer?

Fiat money needs nothing to back it up or give it value. Not being on the gold standard doesn't mean dollars are fiat. Sorry if it takes more than 4 minutes to cover the subject.

Maybe if you stayed at a Holiday Inn Express.......

Sorry Charlie. The video explained something in less than 4 minutes but it had nothing to do with how the dollar is backed or how poor people are "created".

Capitalism doesn't hold them down and the type of banking they do (mostly ATM) doesn't put them it the "poor" catagory.

Most of them are born that way and for many different reasons stay that way.

[CuteOldGuy]

Not surprised you didn't understand any of this.

[Guest123018-4]

Most of the reason that poor are poor is bad life choices, the lack of ambitionj, the fact that Democrats hold them down to maintain a voting base, constantly having an ever larger government that takes from those that achieve and gives it to those that choose not to achieve, failure to take advantage of the real opportunities to move up and instead whine they are victims and on and on.

I was poor and it want because of any bank it was because my parents came from a rural life where you made enough money to get by but my parents worked hard and took advantage of the opportunity that abounded. I worked when I was a kid by choice to have my own money and have worked ever since working my way up out of being poor. I dont consider myself rich or even well to do but I do not owe anyone a dime that I cant pay immediately.

The vast majority are poor by choice and perpetuate their lot in life by continuing to make bad choices.

[Guest040616]

Originally Posted by The2Dogs

by continuing to make bad choices.

Making bad choices??????? Was "bad choices" a barb thrown toward how bad a choice GW was as President?

2Dogs, you had better be careful. The Far Right Wing Gestapo's in this forum find it acceptable to throw all the barbs that you want toward Obama, Clinton, Gore. You can even throw a few toward JFK, LBJ, Truman and FDR and they will applaud you. But it is strictly hands off to mention how bad of a choice GW ended up being.

[Munchmasterman]

Originally Posted by CuteOldGuy

Not surprised you didn't understand any of this.

I'm not surprised you posted or "understood" this.

[Guest040616]

Originally Posted by Munchmasterman

I'm not surprised you posted or "understood" this.

COG is still waiting for a few spring breakers to show up in Wichita!

[Doove]

So there weren't any poor people before 1971?

[CPT Savajo]

Originally Posted by Munchmasterman

So how does a bank fail if they can create money whenever they want to or as much as they want to?

Can't they just find more poor people and make them poorer?

Fiat money needs nothing to back it up or give it value. Not being on the gold standard doesn't mean dollars are fiat. Sorry if it takes more than 4 minutes to cover the subject.

Maybe if you stayed at a Holiday Inn Express.......

Sorry Charlie. The video explained something in less than 4 minutes but it had nothing to do with how the dollar is backed or how poor people are "created".

Capitalism doesn't hold them down and the type of banking they do (mostly ATM) doesn't put them it the "poor" catagory.

Most of them are born that way and for many different reasons stay that way.

Munch you should know the answer to your first question! It doesn't take a rocket scientist to figure that one out! Your second question, sure they can find more poor people, just start with yourself first! Since your not a part of the billionaires club or the head of a megabank you should know how inflation and money printing grinds down your hard earned savings!

[WTF]

Originally Posted by Doove

So there weren't any poor people before 1971?

poor but on the gold standard. Come on don't you know that is so much better! I mean what poor person do you know who does not want the money they do not have to be backed by gold?

[joe bloe]

Originally Posted by The2Dogs

Most of the reason that poor are poor is bad life choices, the lack of ambitionj, the fact that Democrats hold them down to maintain a voting base, constantly having an ever larger government that takes from those that achieve and gives it to those that choose not to achieve, failure to take advantage of the real opportunities to move up and instead whine they are victims and on and on.

I was poor and it want because of any bank it was because my parents came from a rural life where you made enough money to get by but my parents worked hard and took advantage of the opportunity that abounded. I worked when I was a kid by choice to have my own money and have worked ever since working my way up out of being poor. I dont consider myself rich or even well to do but I do not owe anyone a dime that I cant pay immediately.

The vast majority are poor by choice and perpetuate their lot in life by continuing to make bad choices.

Well said. Somebody crunched the numbers on the percentage of people that were poor in America that met certain minimal standards such as: graduate high school, don't get a criminal record, don't get drug addicted, don't have children unless you're married. If you meet these modest standards the likilhood of being poor in American is practically zero regardless of race or ethnicity.

Dick Army once said that for many poor people their poverty was connected to their character. He caught Hell for saying it, but it is true.

In all the years I've lived in Houston I've seen hundreds of panhandlers with their cardboard signs "will work for food" or "I'm hungry please help me" etc. The one thing I have never seen is an Oriental panhandler, never, not once in thirty five years in Houston. That's not an accident; that's cultural. The Orientals take care of their own; they have too much pride to beg. It all goes back to character.

[Doove]

Originally Posted by joe bloe

Well said. Somebody crunched the numbers on the percentage of people that were poor in America that met certain minimal standards such as: graduate high school, don't get a criminal record, don't get drug addicted, don't have children unless you're married. If you meet these modest standards the likilhood of being poor in American is practically zero regardless of race or ethnicity.

I think that very same somebody also crunched the numbers to determine that if you grow up outside of poverty, you're almost assuredly going to graduate high-school, stay out of jail, not become drug addicted, and refrain from having 5 kids out of wedlock.

[CuteOldGuy]

Of course fiat money is not the cause of all poverty, but if you check the figures in 1971, the gap between rich and poor was much smaller. It has increased annually ever since then at a much quicker rate. I think that was what the video was trying to point out. It did a good job.

There are many causes of poverty, and a stable money supply will better support efforts to end it. The current "War on Poverty" is almost 50 years old. Let's face it, poverty is winning. We need to change our strategy.

[Munchmasterman]

Originally Posted by joe bloe

That's not an accident; that's cultural. The Orientals take care of their own; they have too much pride to beg. It all goes back to character.

Culture and character are directly related? In what way? What cultures have what character? Or more character? Or less?

Orientals don't help other orientals because they are orientals. They help family members. They have tighter family ties.

They may or may not have too much pride to beg. When your family structure supports you, you don't neede to beg.

[Guest040616]

Originally Posted by Munchmasterman

When your family structure supports you, you don't neede to beg.

To reach that conclusion would require an individual to first be able to connect the dots. There are a few of these guys who skipped that class in the third grade!