Swindling The Goyim, by Eddie Rothschild

[Twisted Titan]

I stumbled across this

The hustle of FRL lending explained

http://www.youtube.com/watch?v=YKhLNkw59kA

[Hatha Sunahara]

Such an amazing resemblance to Lloyd Blankfein.


Hatha

[FreeMyLand]

Great video. Thanks for posting.

This is something I can show my kids and they will actually understand. Perhaps even my wife might understand it ;D

[Twisted Titan]

What amazed me is that fact that is that they actually WANT you to default

When you default they get REAL assets for fictious paper.

Think about that the next time when you hear a banker crying about all those houses "sitting" on his books

T

[Bigjon]

Poor Eddie Rothschild doesn't understand how the game really works and he's not going to tell you.

Assume an island with only two people, one with nothing and one with all the wealth. The wealthy man has various tools, all the land and assets including 100 gold coins which are the only coins on the island.

Suppose the man with nothing makes a deal with the wealthy man in the hopes of bettering himself. He takes a loan from the wealthy man for 100 gold coins with a promise to pay back 110 gold coins in 5 years. Now it might seem to some that the poor man was fooled because the island only has 100 gold coins and to pay back the loan it would seem there needs to exist 110. However there is actually no problem because work itself has value.

Here is how the impossible loan payback happens:

The man uses his 100 coins loan productively to buy land, tools, etc. from the rich man. He works and produces food and other things of value which he sells to the rich man for 23 gold coins a each year. Each year he pays 22 coins toward the loan and keeps 1 himself. The number of coins always remained the same yet in 5 years the man paid off his 110 coin debt and owns land, tools, and 5 gold coins. The rich man has 95 coins plus the items of value the man produced with his work. The poor man's work added value into the closed island system that makes up for the loan interest plus more.

People forget that the coins are only representations and storage of work/value--in the end work is what produces the real value.

The little story is also a good example of how not all debt is bad. Productive debt can be good.

[Twisted Titan]

That theory works ONLY IF the rich man elects to be paid in something other than gold coins

Which He will never accept a payment of " in like kind" because in doing that he loses the leverage of default. Which was his whole purpose in lending you the gold coins to begin with.

Selling the illusion that coins where actually yours when the truth is that it is only a matter a time before he gets the coins back AND he ends up owning the industry you created in the vain attempt of trying to pay him something that dose not exist.

T

[iOWNme]

When you default they get REAL assets for fictitious paper.

T


BINGO!

+1 for truth. 'Banks' (That are part of the Federal reserve system of monetizing debt) HAVE NOTHING. Yet acquire it through ignorance and consent.

[Bigjon]

That theory works ONLY IF the rich man elects to be paid in something other than gold coins

Which He will never accept a payment of " in like kind" because in doing that he loses the leverage of default. Which was his whole purpose in lending you the gold coins to begin with.

Selling the illusion that coins where actually yours when the truth is that it is only a matter a time before he gets the coins back AND he ends up owning the industry you created in the vain attempt of trying to pay him something that dose not exist.

T


I see you didn’t even try to work through or look at the illustration I put up.

You are very wrong and don’t understand how the game works.

When you bring back the money to the banker to make the payment he takes the interest portion and spends it back into the economy since there are only two people in this illustration… YOU are the economy and he buys the product of your labor with the portion of money that is the interest.

How about another illustration:

Have you ever played fetch with your dog? I think we’ve all played that game only this time every time the dog brings the stick back we break off a little piece of the stick and throw it on the fire (this is a fiat stick, the principal) and then throw out the stick again (the interest) and the faithful dog returns the stick again (rinse and repeat).

[Hatha Sunahara]

Swindling the goyim means taking the fruits of their labor in exchange for pieces of paper, or today, just digital entries in an account.

Why do bankers need 'collateral'? The credit they grant comes from thin air. If they want collateral, they should charge no interest. If they want interest, they cannot demand collateral. Only stupid goyim would give them both.

Thank you Twisted. Whenever I hear people use the term 'sheeple', I'm going to think 'stupid goyim'. Don't forget to remind me it's just business, and people enter into contracts voluntarily. Imagine--voluntarily becoming a slave!


Hatha