LIVE IN FEAR DIE IN DEBT...FKN news

[Serpo]

http://www.youtube.com/watch?v=CA5Lp9-ntbk


http://www.youtube.com/watch?v=CA5Lp9-ntbk

[Serpo]

Banks create money yet only 6% is in cash form so the other 94% hasnt even been printed off or created yet.
It dosnt really exist.

he is saying here that its only 3% printed

[palani]

Banks create money

No they don't. A non-trivial fact that is not generally understood is that money is BORROWED into existence. It is the promise to repay that creates money. More specifically it is the signature on a document that makes that document valuable. Even more specifically, exchanging a signature on a document for a bundle of cash in double entry bookkeeping leaves the books absolutely balanced.

You unbalance the books when you start repaying.

The bank unbalances their books when they sell a note or mortgage an hour after accepting it in closing. If you would like to end this bit of fraud demand a receipt for the note/mortgage. You expect to see your VALUE returned when the note/mortgage has been paid off. If you don't see the ORIGINAL document returned to you then you have been defrauded.

[Glass]

Money is baiscally a pledge these days. As a result there are a lot of things that can be money. Just about any debt or demand for payment can be turned into a pledge. The ony real thing the pledge needs to do is to be negotiable. In fact that is not 100% because you can use non negotiable pledges for some things.

FRN's are pledges or IOU's. Nothing more.

palani is right in that double entry book keeping keeps everything balanced at zero or tries to. I've had the govt tell me they only want to balance the books, nothing more, but they will use every tool at their disposal to get disclosure of the pledges so they can record them. If you don't pledge or you don't pledge enough there's big trouble a-coming.