Money Matters by Robert Sudha Hamilton

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If you are young you are likely in too much of a hurry to read this and if you are older – can you remember what it was like to be young? Fast times and cashless highs: Technology’s ode to debt makes for thrilling reading. The young are in love with technology and this is a cashless highway to debt for the unwary. I picture a raceway, like Daytona, and lots of youthful racing car drivers revving their engines in anticipation of going around the bend. Young men and women risking life and limb to achieve victory over the slow lane. If you survey the top items on Santa’s gift list this year they will likely be the latest smart phone or high tech device, as they have been for the last decade or more. Humanity is in rapture with the fruits of technology, as we have always been.Continue Reading

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Understanding how banks work is an eye opener for most people. Did you know that up until 1844 in Britain banks in the UK printed their own paper cash money – these were called bank notes, of course. Banks still today make their own money. Every time someone borrows money from a bank the bank extends credit by creating money in that person’s account by pushing a button. No physical money is actually created. The debt creates that money and when the loan is paid back that money ceases to exist. The banks pockets the interest charged on the loan and erases the debt. That digitally created money disappears from the system. Understanding how banks operate: Money and debt.Continue Reading