Money and the Crisis of Civilization

#Money

Thu, Aug 27th, 2009 08:43 by capnasty NEWS

Suppose you give me a million dollars with the instructions, "Invest this profitably, and I'll pay you well." I'm a sharp dresser -- why not? So I go out onto the street and hand out stacks of bills to random passers-by. Ten thousand dollars each. In return, each scribbles out an IOU for $20,000, payable in five years. I come back to you and say, "Look at these IOUs! I have generated a 20% annual return on your investment." You are very pleased, and pay me an enormous commission.

  993

 

You may also be interested in:

Use a Football to Recharge Your Phone
Facebook's Stock Value Drops by One Third
Sony Music Hikes Whitney Houston Album Price After Her Death
Goldman Sachs Banker Quits With a Very Public, Stinging Resignation Letter
Federal Reserve Fan-Fiction