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About LinkBacksI feel you got a general jist, but I object to the idea that banks create "brand new money".Originally Posted by Slippers
It doesn't quite work that way.
I feel you got a general jist, but I object to the idea that banks create "brand new money".
It doesn't quite work that way.
Huber also wrote a report with James Robertson, who ran the Inter-Bank Research Organisation for the UK banks.
www.neweconomics.org/gen/uploads/CreatingNewMoney.pdf
Robertson made a submission to the House of Commons Parliamentary Select Committee on the Treasury last month.
www.jamesrobertson.com/article/nationalandinternationalfinancialarchitecture.pdf
I don't think my position could be stated much more simply than it is by Robertson in paragraph five of this submission.
"[FONT=Verdana]At present less than 5% of the estimated UK national money supply is[/FONT]
[FONT=Verdana]created and issued as banknotes and coins by agencies of the state.[/FONT][FONT=Verdana]with banknotes and coins - nobody else should be allowed to create it."[/FONT]
[FONT=Verdana]Almost all the remaining 95% is created and put into circulation by[/FONT]
[FONT=Verdana]commercial banks and building societies as profit-making loans in the[/FONT]
[FONT=Verdana]form of bank-account money (often called "credit"). The Bank of England[/FONT]
[FONT=Verdana]can only try to influence the amount the banks create by regulating[/FONT]
[FONT=Verdana]interest rates. The proposal is that the Bank of England should itself[/FONT]
[FONT=Verdana]create and issue bank-account money debt-free, and that - as already[/FONT]
This is the best documentary i know of which explains how the banks work
[ame=http://www.youtube.com/watch?v=cy-fD78zyvI]YouTube - 1. Corrupt Banking System - Cartels Robbing the Public[/ame]
[ame="http://www.youtube.com/watch?v=hfXavRTM4Fg"]YouTube - 2. Corrupt Banking System - How Money is Created (2/5)[/ame]
[ame="http://www.youtube.com/watch?v=_yvRZoM-2r8"]YouTube - 3. Corrupt Banking System - Money is Debt (3/5)[/ame]
[ame="http://www.youtube.com/watch?v=f0p8LepIuVM"]YouTube - 4. Corrupt Banking System - Monetary Reform (4/5)[/ame]
[ame="http://www.youtube.com/watch?v=PzXZ_Hs1g6U"]YouTube - 5. Corrupt Banking System - Warning About the NWO (5/5)[/ame]
Last edited by loophole; 20th February 2009 at 01:54 AM.
Why does everybody keep talking about money 'disappearing'?
because the "value" that was placed on land is decreasing, yet the banks lent the money to everyone based on this "value".
the money to support these loans was only on the books in the banks, they never had the money...
and people think that it disappeared...
it didn't really disappear, it actually never existed...
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The notional monetary value of an asset has dissappated.
But the debt lent on the strenght of that asset is still there and increasing due to compound intrest.
Its only a chat, we ain't the world council.
In 2000 the Women's Institute in Britain gave Tony Blair the slow hand clap to demonstrate their contempt.
[COLOR="Red"]It was dignified, restrained and effective.[/COLOR]Doesn't Bertie deserve the same scorn. No shouting, no abuse, no agression just a relentless slow clap whenever he speaks in public would be enough to end that man's presidential fantasy.
-3.75,-3.23
I wonder how many Germans would be pleased to hear that, with the unification of their country still regarded as an ongoing project, they had "plenty of money doing nothing" and the best thing that those in control of it could do was to give it to a bunch of semi-criminal bankers and developers on a windswept island?
If I was a German, I would be asking WTF was that about?????
Fianna Fail - The Loss of Sovereignty Party.
What has the value of the assets got to do with the amount of money issued?
If the banks loaned money to buy land then this money (paper or digital) was given to the owner of the land, so it hasn't disappeared.
Again this has nothing to do with money 'disappearing'. The hundreds of billions loaned out is still in circulation, so where is all this money?
Can anyone answer this question.
Also the money issued by the banks was new money based on the ratio of deposits, so why are we guaranteeing this monopoly money?
I'm not trying to be smart here these are genuine questions.
In some cases a "developer" took real cash profits from his developments and bought bank shares.
That money has now disappeared big time.
Or as is the Anglo case.
Someone put shares up as collateral for a lone.
Again that money has disappeared.
Its only a chat, we ain't the world council.
In 2000 the Women's Institute in Britain gave Tony Blair the slow hand clap to demonstrate their contempt.
[COLOR="Red"]It was dignified, restrained and effective.[/COLOR]Doesn't Bertie deserve the same scorn. No shouting, no abuse, no agression just a relentless slow clap whenever he speaks in public would be enough to end that man's presidential fantasy.
-3.75,-3.23
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