Thursday, March 09, 2006

An Honest Bank

Amidst the usual news of ongoing torture in communist China ( Tiananmen dissident Yu Dongyue was recently released from prison physically scarred and suffering from a complete mental breakdown) and ominous credible comparisons of the EU commission to the Soviet Politburo (Former Soviet Dissident Warns For EU Dictatorship by Paul Belien, The Brussels Journal Tuesday, February28, 2006) I came across some very encouraging news, an honest bank., a San Francisco start-up began operations recently combining e-bay auctions and bank lending to bring borrowers and lenders together with minimal risk.

It's honest because the act of loaning does not create money resulting in payments being received for which no work was performed or no capital invested.

It will be interesting to see how long this challenge to the financial monopoly is allowed to exist and how big it becomes. But while it lasts, if one needs to become a servant, at least one can enslave himself to an honest master.

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