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Banks create money out of thin air.

Pin dÁr

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That's right, banks create money out of thin air by creating debt.
Most money is debt-based.

So, banks loan out money that doesn't exist. Then the banks create a crisis, and then we can't repay the non-existent mony, and then we are asked to foreclose our house, which is something of real value and voila, the bank has become richer, again.

It is legalised theft.

and we, the people, stand for it???
 

Fledermaus

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That's right, banks create money out of thin air by creating debt.
Most money is debt-based.

So, banks loan out money that doesn't exist. Then the banks create a crisis, and then we can't repay the non-existent mony, and then we are asked to foreclose our house, which is something of real value and voila, the bank has become richer, again.

It is legalised theft.

and we, the people, stand for it???

Any ethereal cash you want to get rid of can be sent to a charity near you.
 

Lutherf

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That's right, banks create money out of thin air by creating debt.
Most money is debt-based.

So, banks loan out money that doesn't exist. Then the banks create a crisis, and then we can't repay the non-existent mony, and then we are asked to foreclose our house, which is something of real value and voila, the bank has become richer, again.

It is legalised theft.

and we, the people, stand for it???

You were doing so well right up to the "can't repay, crisis, foreclosure, theft" stuff.

Out of curiosity, if you're a farmer who needs help planting corn and I offer to help provided you give me 2% of the corn you produce is that also theft? Did the corn just appear out of thin air?
 

SocialD

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That's right, banks create money out of thin air by creating debt.
Most money is debt-based.

So, banks loan out money that doesn't exist. Then the banks create a crisis, and then we can't repay the non-existent mony, and then we are asked to foreclose our house, which is something of real value and voila, the bank has become richer, again.

It is legalised theft.

and we, the people, stand for it???

That's not 'completely' true. There is a federal reserve requirement of a reserve amount. currently 10%. So if a bank loaned you 10k dollars they would have to hold in reserve 1k when they did so. so most of it is just created but there is at least some grounding if reality.
 

Pin dÁr

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That's not 'completely' true. There is a federal reserve requirement of a reserve amount. currently 10%. So if a bank loaned you 10k dollars they would have to hold in reserve 1k when they did so. so most of it is just created but there is at least some grounding if reality.

yeaj fractional reserver banking, I know. Even that is ridiculous!

Guess who made that law possible?
 

calm

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Is paper gold certificates not a form of money? There are more certificates than actual physical gold.

What about hypothecation of gold or bonds?

What about derivatives?

Banks and brokerage houses have money trees but they only grow in Gated Communities and Upper Class streets.

Calm
 
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Pin dÁr

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Is paper gold certificates not a form of money? There are more certificates than actual physical gold.

What about hypothecation of gold or bonds?

What about derivatives?

Banks and brokerage houses have money trees but they only grow in Gated Communities and Upper Class streets.

Calm

they are all illusions.
 

calm

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they are all illusions.

Oh! I wholeheartedly agree with you.

I have studied this topic very intensely over the past 15 years. I have tons of e-Books and the like if you were interested.

It is all a mirage.

The financial system itself is a scam?

The "Financial" system is like the Tooth Fairy.

Believing in the "Accounting" practices of the financial system is like believing in a God.

In ancient times of kings and queens, they used to have court magicians. Nobody knew or understood the magic and the magicians even dressed differently than others of the court. (As bankers do today with suits and ties.)

People believe in an Economic Theory in the same way they believe in a God.

People read the bible and they read anything into it that they want. The myth is carried on from generation to generation.

But, it is still a myth.

Economists earn a living by furthering the economic myth, just as reverend's and rabbi's do. Each theory is just another brand of religion where an economist claims that God is speaking directly to Them.

Calm
 

SocialD

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yeaj fractional reserver banking, I know. Even that is ridiculous!

Guess who made that law possible?

Bankers would be my guess
 

Pin dÁr

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Bankers would be my guess

yep! That is exactly right. Done in 1913 on Jekkyl Island, when most people were away for Christmas.

It is legalised theft.
 
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SocialD

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yep! That is exactly right. Done in 1913 on Jekkyl Island, when most people were away for Christmas.

ahh the federal reserve act under Wilson. I should have known what you were talking about.
 

Pin dÁr

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yep and the federal reserve is a PRIVATE BANKING

NOT, as the name would suggest, a federal company.

That is even worse.
 
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