Money as debt

[Randall Flagg]

A good topic, and one that should be at the forefront of our country. Here is my write up, short but sweet, please fell free to leave comments and remarks of my lack of intelligence, like in the last thread, under my op, thanks

Title pretty much says it all. Money is debt, all money bearing the words FEDERAL RESERVE NOTE all come with interest attached to them, meaning there is no way to ever repay the full debt.

This is in fact due to the printing of principal, but not the interest.

This is no conspiracy theory here either.


Quote:
The Federal Reserve Bank of Chicago came out with a very revealing publication back in the 1990s called Modern Money Mechanics.
Bam here it is

http://upload.wikimedia.org/wikipedia/commons/4/4a/Modern_Money_Mechanics.pdf

All money is created as debt, even your mortgage.....


On page 6(from the above fed link)....


Quote:
What they do when they makes loans is to accept promissory notes in exchange for credits to the borrowers transaction accounts.

Here is a more clear break down for you....




So how does the bank loan actually work?

1. You want a loan for your home.
2. The bank advertises that they loan money.
3. You "apply" for a "loan."
4. They put you through the ringer and make you glad and relieved that you were able to be approved for a loan. (You know, like they are doing you a really big favor.)
5. They have you sign a promissory note.
************************************************** *********

And here's the part you're never supposed to know
************************************************** *********

6. Since your promissory note can be sold for money, it's an asset.
7. The bank deposits the asset into an account for approximately the amount of the note.
8. The bank cuts you a check from the deposit you never knew about (or transfers the money to those who should be receiving it).
9. And you think you owe money back on a loan, when in fact all that was made was an exchange.

There is no recovery folks, this thing is going down in flames as we speak, one of the biggest reasons is because the system we use.


Hope some people enjoy this write up, unlike the last one.

 

[Fletch]

Actually I agree with almost everything here except your definition of money. What we colloquially refer to as "money" is in fact counterfeit money, and from there the rest of the errors are made.

 

[Randall Flagg]

Actually I agree with almost everything here except your definition of money. What we colloquially refer to as "money" is in fact counterfeit money, and from there the rest of the errors are made.

I agree, i myself dont think our "money" is money in the old world sense of wealth and such, but a lot of people do, thus i have to write with them in mind.

I have gone over this subject on a couple different boards and for most, money as debt is a hard concept for them to understand. Glad we could see eye to eye on this one. Does everyone on board believe as we do or do some members have questions on the subject i wonder?

 

[Fletch]

Well, I don't want to conflate the definitions of money and wealth, because money is not wealth. Bill Gates would be a pauper if there was nothing to buy.

 

[ATOMonkey]

The entire world FIAT currency system is one its way down.

We have $130T in unfunded liabilities currently, and that is just government money. Total unfunded liabilities for the country is just unimaginable.

We are running fully on credit now, the only intrinsic value is in durable goods, which is why I convert my FIAT to refrigerators, guns, ammo, motorcycles, etc.

 

[Randall Flagg]

Well, I don't want to conflate the definitions of money and wealth, because money is not wealth. Bill Gates would be a pauper if there was nothing to buy.

Hard currency or resource backed money(as long as it's a need, i.e. you need salt to live, or is in strong demand like land/weapons) is wealth. Someone with 10,000,000 cows/guns/etc is a wealthy man even though he only has 10 paper fiat currency notes. There has never been a time in history when people did not need to eat or defend themself.

 

[Ogre]

in my best Forrest Gump impersonation "I'm not a smart man..." yah, you're right it is a tough concept to wrap the mind around.

 

[Eddie]

I agree, i myself dont think our "money" is money in the old world sense of wealth and such, but a lot of people do, thus i have to write with them in mind.

I have gone over this subject on a couple different boards and for most, money as debt is a hard concept for them to understand. Glad we could see eye to eye on this one. Does everyone on board believe as we do or do some members have questions on the subject i wonder?

I think you are correct on this one. The analogy I use is that our money is like poker chips. If I say that the white ones are worth $1 and the red ones are worth $5 and you accept that then we can sit down and play. The reality is that both colors of chips are just worthless little pieces of plastic once you stop playing the game.

 

[level.eleven]

There is a pretty neat animation out there that looks at money creation through lending, fractional reserve lending, etc.

Money As Debt

 

[jsgolfman]

Fractional reserve banking is a deceitful practice and only works with the help of secrecy and legal tender laws.

 

[Fletch]

Fractional reserve banking is a deceitful practice and only works with the help of secrecy and legal tender laws.

There certainly are strong arguments in favor of labeling it outright fraud.

 

[Kuting]

There is a pretty neat animation out there that looks at money creation through lending, fractional reserve lending, etc.

Money As Debt

I watched this a while back, and IMHO it is time well spent. Even if you can't see yourself sitting through 45 minutes of video on the net do it.

 

[astragoth]

Why do you think WW2 happened? Hitler decided he didn't want to be part of the usury
debt slavery system. Lincoln and Kennedy also tried to either make their own currency
or to tame the federal reserve. Look what happened to them.

 

[Randall Flagg]

Ok so everyone knows this house of cards is ready to fall, is it an accident or by plan?

 

[Fletch]

Ok so everyone knows this house of cards is ready to fall, is it an accident or by plan?

Neither. Nobody plans for it to fall, they think they're building something that can last in perpetuity. But it's not an accident either, since there have been warnings against this sort of thing as far back as Biblical times. The powers-that-be have simply allowed themselves to be convinced, as the architects of so many fallen empires before them, that "this time it'll be different".

 

[NordicHeathenVinlander]

I say planned... There are economist who are practical genius in they're fields of expertise, how they could do this and play innocent I dont know.

 

[Hotdoger]

I say planned... There are economist who are practical genius in they're fields of expertise, how they could do this and play innocent I dont know.

Many are blinded by pride in their own intelligence.

 

[Randall Flagg]

The powers-that-be have simply allowed themselves to be convinced, as the architects of so many fallen empires before them, that "this time it'll be different".

Who do you think convinced Wilson to pass the fed reserve act and income tax? Was it Col. House, personal advisor to Wilson, and founder of the C.F.R.?

Or was it Nelson Aldrich, Rockefellers do boy?

 

[Fletch]

Who do you think convinced Wilson to pass the fed reserve act and income tax? Was it Col. House, personal advisor to Wilson, and founder of the C.F.R.?

Or was it Nelson Aldrich, Rockefellers do boy?

It doesn't matter. No matter who convinced him, that person was not creating something they thought would fail. They thought it would succeed and last in perpetuity.

 

[Hotdoger]

Who do you think convinced Wilson to pass the fed reserve act and income tax? Was it Col. House, personal advisor to Wilson, and founder of the C.F.R.?

Or was it Nelson Aldrich, Rockefellers do boy?

The federal reserve act was Democcrat legislation, written by Democrats, voted for by Democrats in the house and in the Senate by Democrats and signed by a Democrat President.

Very similar to what has just happened with the Health Care takeover legislation.

Aldrich was a Republican who had lost his senate chairmanship in the previous election, that saw both the House , Senate and the Presidency go to Democrats.
I will have to search to find his vote on the act.