The Alchemy of Finance

People who own land sit on it then go to the bank and say, look, I have this piece of land that was worth 100 grand. It's now worth a million. Will you give me cash against that? That's collateral. So straight away, the land hoarder has not only at the stroke of a bureaucrats pen increased his wealth, but by going to the bank, he can actually do what I would call the alchemy of finance. The drone class sit on land and they rinse and repeat all the time. This happens in every country, not just Ireland. This is happening all over the world. And if the state stands back and does nothing, what happens is house prices