How MUCH is your TIME worth?
In light of the recent revelation that "the average pay of Goldman Sachs employees [including] secretaries" is $521,000, I think it's appropriate to ask why on earth do bankers make so much, while others make so little?
Wall Street banks are paying out a record $21.5bn in bonuses for 2005, according to New York State figures. That dwarfs 2004's $18.6bn and tops the previous record of $19.5bn in 2000. The average bonus in 2005 was $125,500 - some $25,000 more than in 2000You have to be wondering WHY? What on earth do bankers do with their TIME that merits this kind of compensation when others are lucky to get minimum wage?
Deutsche Bank last week became the latest to disclose to its staff the bonus cheques they will soon be taking home. Some top executives will receive bonuses 75 per cent higher than last year.
The bankers who manufactured this grotesque system KNOW that the only way they can make themselves filthy rich is off the backs of others.
Think about it; a banker has only 24 hours in his day--JUST LIKE every other human being.
But, somehow a banker's hour is worth millions, while the average laborer's hour is worth 7 bucks.
WHY?
Bankers convince people that INTEREST represents "the time value of money."
But you know and I know that money has no TIME, neither does it WORK - only people do.
I challenge anyone to bury a dollar, come back in a week and see if it's not still a dollar!
So, HOW do they make their money 'work?'
By gaining control of the MONEY SUPPLY through stealth and corruption and convincing people that money has a TIME value, central bankers use fractional reserve lending at interest to effortlessly arrogate to themselves the VALUE of millions of hours of other people's time.
Those who exchange their labor for a banker's funny money at interest are literally left with only a fraction of the benefit of their TIME! (i.e., the only thing of value most people have!)
Voila! The value of a central banker's hour is now worth millions of hours OF OTHER PEOPLE'S TIME!!!
Maybe it's time that Americans ask themselves how much their TIME is worth?
Maybe it's time to realize that these grotesque imbalances in society DO NOT happen by chance.
Among men, some will be able to see clearly what others must struggle to understand.
If you see clearly, then please, help someone else understand because we can only change this together.
posted by qrswave @ Sunday, February 12, 2006
2 Comments:
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I generally agree with this post, though I do want to add that I do not fully agree with how you see money.
There is a time value of money. In fact, there is interest in nature. Furthermore, we can and do expand our economies and our way of life.
Let me illustrate this for you.
Hundreds of years ago...there was no electricity. There were certainly no computers, there was no mass communication or mass transit, and there were no automated machines. Some people prefer things that way. (see: the Amish) I don't want to live in a world without a computer. But my point is that all this technology has enabled the earth to stay the same, but for us to get a higher yield from the amount the earth has to offer us all. This amount of "yield" should eventually have a cap, at which point we cannot go any further. But until we reach that cap, then "interest" only taps into a world that naturally is expanding. If we don't charge interest, then there may not be the sort of incentives we need to give start up money for business and ideas to grow. In fact, charging interest has always existed - it just has not always been legal and was often done through loan sharks. Making interest illegal will only draw people to loan sharks. Furthermore, "legal" interest has been tied into the Industrial Revolution, which in fact led to a modernization on a scale not known before.
That all said...we have gotten to the point where money lenders are valued above those who are actually driving the growth in this economy. Money lenders only give the start up cash. We still need businesses to exist to actually drive the economy to progress, rather than regress. When money lenders are valued above the actual producers, then we have an economy that stagnates rather than grows. It's a recipe for disaster.
I don't see the root of all evil to be interest per se. I see it to be out of control interest, a tax code that favors debt over equity, a culture and education system which no longer spews out the scientists needed in this economy, and the absolute and rampant greed in government and in Wall Street that just causes even more abuses.
See the movie "Wall Street." The motto is "Greed is good." That became the catch phrase of the 80's. There's something mightily wrong with a country that has THAT as a catch phrase.
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