I want the Earth (plus 5%)

rathcoole_exile

Veteren member
3,924 767
The sole purpose of this story is to explain the simple maths of reality and the current Banking System – that is – 100 plus NOTHING does NOT equal 105 – and that charging interest on something that is created out of nothing, makes it impossible to repay, giving great power to those who do create money out of nothing – ie the Banks. This story was written by Larry Hannigan in 1971 and uses a fictional character (Fabian) in the narrative.
Money is NOT a commodity, it is a system of debit-credit bookkeeping – nothing more. Banks create credit. It is a mistake to suppose that bank credit is created to any extent by the payment of money into the banks. A loan made by a bank is a clear addition to the amount of money in the community.
The issue which has swept down the centuries and which will have to be fought sooner or later is the People v. The Banks.
None of our problems will disappear until we correct the creation, supply and circulation of money. Once the money problem is solved, everything else will fall into place.

I Want The Earth (plus 5%) | Watch Free Documentary Online
 

BeginnerJoe

Senior member
3,329 350
Do you mean the government is not responsible ? Why are they there and why are they taxing you ?

All the sh*t out there are created by the government, not the banks, not the illuminatis, not the aliens.
 

Shakone

Senior member
2,458 665
If that is the case rathcoole, then why not just raise the tax on banks to the level that offsets the interest due to them?
 

wackypete2

Legendary member
10,229 2,055
If that is the case rathcoole, then why not just raise the tax on banks to the level that offsets the interest due to them?

Because then the banks may be in danger of failing (after the execs take their huge undeserved bonuses of course) and the gov't then might have to bail them out...you know, in theory.

Peter
 

DionysusToast

Legendary member
5,963 1,501
A loan made by a bank is a clear addition to the amount of money in the community.

That's not true.

If the bank loans only what it has on deposit, then this is not adding to the money supply. It is only because they lend more than they have that they create money.

In terms of wealth creation, you miss also that turnover of money creates wealth. $100 in money can create $1000's in wealth.

Guy buys a Ferrari, Ferrari dealer buys a house, house builder buys some coke, coke dealer buys some Estonian hookers, hookers buy HIV medication, drug company buys....

All these people brought stuff with the money from the Ferrari guy.
 

DionysusToast

Legendary member
5,963 1,501
Money is not a great problem. You need something convenient to store and transfer wealth.

Neither Gold nor barter is the answer.

Central banks are a huge problem but money itself is a good solution to enabling trade IMO.
 

Knell

Well-known member
341 58
Do you ever wonder through a grocery store and think "Look at all this cr$p for sale!!". How many types of toothpaste, yoghurt, pasta sauce, cereal do you need? Even better go into PC World in the UK and see the amount of ****ty printers you have the choice of...it's a joke!!

The world is "over trading" and trying to sell meaningless ****e to anyone who'll have it. When you don't get anymore credit and stop buying this re-engineered garbage the house of cards comes tumbling down very quickly...and they will, well, eventually anyway.
 

rathcoole_exile

Veteren member
3,924 767
Those pesky debt ceilings are just never high enough. Not $10 trillion, nor $14 trillion or even $18 trillion. The problem with debt ceilings is that, in a nation of runaway, criminally insane debt multiplication, debt ceilings keep getting in the way of what the globalist banksters really want: INFINITE debt!

Those are the words of U.S. Treasury Secretary Timothy Geithner who said on Bloomberg TV, "We ought to just eliminate the debt ceiling."

Infinite debt equals infinite spending.

Infinite debt also equals infinite enslavement, and that's the point of it all. Every dollar created by the Fed and loaned to the U.S. Treasury is another dollar for which American taxpayers are placed in hock to the global banksters.

Infinite government growth

Infinite spending is also infinite power over the economy. A government that has no limits on spending has no limits on its growth. It also has no moral restraint over the scope of the domain it claims to control. Need another 200,000 TSA agents to run crotch-o-rama checkpoints on the streets of America? No problem: There's no debt limit, so just invent the money out of thin air and spend away!

Need to give out more free goodies to dumbed-down voters who only elect whichever candidate promises the most handouts? That's easy, too: Just create more money out of thin air, rack up a few trillion dollars in additional debt, and use the money to hand out Obama phones, food stamps, welfare checks or whatever it takes. When debt no longer has any meaning, the sky's the limit on spending, and political office can easily be bought by promising more handouts.

What happens when all the new debt comes due? That's easy, too: Borrow more money from the Fed to make the interest payments on the existing debt! They're just numbers, after all, right? It doesn't actually matter if there are 15 zeroes after the leading digit or 24 zeroes, does it?

In a nation where the vast majority of voters are no longer capable of grasping simple mathematical concepts (like compounding debt), whether the debt is 16 trillion, or quadrillion, or quintillion seems to be of no consequence whatsoever.

That is, until the day of financial reckoning arrives.

The Day of Reckoning

I'm going to throw a party of the Day of Reckoning, to celebrate humanity reaching the apex of fiscal insanity. It was a journey much more expensive than sending a man to the moon, and yet we have nothing to show for it. Not even moon rocks.

The Day of Reckoning will arrive when the mass delusion of debt without consequence can no longer be sustained. Almost certainly, a war will have already been started in order to provide cover for the economic collapse. Because if there's one thing far worse than killing civilians in war, it's having voters find out Big Government cheated them out of their pensions, incomes and savings. Dropping a few bombs on some unlucky civilian population in a little-known nation somewhere is a surefire way to change the subject and blame somebody else for the problems created by runaway government spending.

As the consequences of infinite debt start to congeal, rest assured the government will try to save itself by confiscating nearly all wealth from the population. You can expect to see all the following taking place:

• Government confiscation of private pension funds and IRAs.
• Government confiscation of all precious metals (gold and silver).
• Huge increases in corporate and personal income taxes.
• Harsh new death taxes that effectively confiscate farms and ranches.
• Accelerated currency debasement that effectively "steals" the value of the dollars you've already earned.

This is the new era of not just "big government" but "MONSTER government!" It will now grow to the point where it suffocates freedom and liberty, enslaves the population and destroys everything of value in society: Wealth, morals, education, liberty and even rugged individualism.

Sources for this article include:
http://cnsnews.com/news/article/treasury-secretary-geithner-lift-debt...

Learn more: Geithner unveils his true agenda: Infinite debt means infinite economic enslavement of America
 

rsh01

Experienced member
1,184 299
Do the maths.
All the taxes they raise go to pay the interest on the debt they owe to the bankers.
Fact.

Er, fiction. 2012 US budget:

Total Receipts $2.469 trillion
Net Interest ($224.784) billion

2012 United States federal budget - Wikipedia, the free encyclopedia

the fiscal cliff is a mythical issue - not sure who benefits from the ongoing MSM regurgitation of this term, the US only just have enough receipts to cover mandatory spending (Social Security, Medicare, and Medicaid expenditures), so a raise of debt ceiling is inevitable to pay defense, education, interest (discretionary spending) etc. The debt ceiling has been raised 75 times in last 50 years.

The reason why bond yields on sovereign debt in the EU zone are watched so closely is cos c7% yield is the level where receipts cannot cover interest payments alone, see Greece re this.

RE, did you not read the 'What is money' thread? Has a lot of useful links on money, gold standard, credit creation etc etc.
 
 
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