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I have a question:
I have just finished with the Joe's Law chapter and am now working with John and Pat.
I read the word limited here in this text:
"The thing that most people may not understand concerns the difference between the concept of "public" and "private" jurisdictions in law. This applies to your question, and this has been explained to me by my trainers. These products are limited by law as to how much profit the bank can make as in the term not-for-profit may suggest. If you are familiar with the term…"
Why do limits need to be set? Why can't Joe's Law work as power is produced into oversupply thru bank profits? Can that profit be used to produce more power which would then make wealth cheaper? Why does a limit have to be set on the bank's production of profit? Wouldn't the nature production of profit yield to cheaper wealth thus making interest rates lower?
Pat appears to be even more confused
It is accurate to account our profits as being limited by free market competition, you or anyone can start your own competitive bank. If you can understand that concept, we can move on.
If I or anyone could start my own bank, then wouldn't that competition become the natural limit set on bank profits (rather than a government ceiling)?
