Not in any disagreement with your point, but are you able to be more specific?
Financial services and it’s infrastructure is important and it requires labour, there are many busnisses and sole traders in the UK and financial services do help organise, the 2% you say is extracted does this include the cost of labour/equipment? or are you saying that this money is extracted in addition to the labour and equipment costs?
well over 90% of the value has been extracted by banks and their minions since federal reserve act and income tax (same ppl same year) https://www.usgoldbureau.com/gold-vs-inflation
I wasn’t that interested in the article and this was a number of years ago. My understanding was that the financial industry has corporate profits each year that amount to about 2% of the US GDP. This would naturally exclude all of the costs of doing business, including labor.
It is most likely just a funny coincidence that the financial industry profits from inflation and their profits are the same as what the rest of us lose to inflation each year.
wth… bring the old wardec system to real life
Well they are. It’s the people who are closest to the money printer who profit the most of it. The money printer is in this case the banks, and the people who can turn it on are those who already have a pile of capital they can use as security to get new credit (which created new money)
The way this works is, if this person or corporation goes to the bank and gets a new credit for $1 bil, there is now $1 bil more dollars they can use to for example buy real estate. The result is that there is now $1 bil more on the market, which drives up monetary inflation and devalues the money, and at the same time it drives up the real estate value.
It’s simple, but very effective. And now they have real estate they can use as a security to start this game all over again.