Banks are having a great crisis as usual

Because when your Ponzi schemes run out of steam, you can count on the taxpayer to give you money and then pay compound interest on the money they gave to you in the first place.

Times: We'll pay for Lloyds' bad debts


Barclays didn't receive any bailout money, but they're enjoying the profits from what can be called a fool's rally:

Bloomberg: Barclays, Lloyds Bad Loans Rising as Economy Worsens
Reuters: Barclays profits up 15 per cent

I think I am right in saying that 'bad loans' can include derivatives, as well as mortgages which are likely not to be paid back. Either way, we all know we are being robbed.

Not sure why our debt-money system is a problem? The best explanation I have read (which first taught me about this) is "The Money Myth Exploded". I don't agree with their solution (methinks gold/silver currency is the way to go) but their explanation of the problem is very clear.