What did Henry Ford mean

[K-Gun]

When he said, "It is well that the people of the nation do not understand our banking and monetary system, for
if they did, I believe there would be a revolution before tomorrow morning."

Who owns the banks?

For educational purposes only.

[35Pete]

When he said, "It is well that the people of the nation do not understand our banking and monetary system, for
if they did, I believe there would be a revolution before tomorrow morning."

Who owns the banks?

For educational purposes only.

Same thing I believe when George Bush I said "If the American public really knew what went on behind the scenes and our plans for them they would hang us from lamp posts in the streets".

[Green Lantern]

If Ford said it, it must be so?

[JLB]

Who owns the banks?

They do and you never trust they!

:dunno:

[sukie]

Quality is , afterall, JOB ONE!

[Green Lantern]

Who owns the banks?

They do and you never trust they!

:dunno:

I never have listened to non-referent pronouns in my life.

[JLB]

I never have listened to non-referent pronouns in my life.

it's time for you to have that experience.

[C Darwin]

When he said, "It is well that the people of the nation do not understand our banking and monetary system, for
if they did, I believe there would be a revolution before tomorrow morning."

Who owns the banks?

For educational purposes only.

I believe that if everybody understood the scam of fractional reserve banking, people would go nuts!

As for who owns the banks: 1. Rothschild Bank of London 2. Warburg Bank of Hamburg 3. Rothschild Bank of Berlin 4. Lehman Brothers of New York 5. Lazard Brothers of Paris 6. Kuhn Loeb Bank of New York 7. Israel Moses Seif Banks of Italy 8. Goldman, Sachs of New York 9. Warburg Bank of Amsterdam 10. Chase Manhattan Bank of New York.

[Green Lantern]

I believe that if everybody understood the scam of fractional reserve banking, people would go nuts!

As for who owns the banks: 1. Rothschild Bank of London 2. Warburg Bank of Hamburg 3. Rothschild Bank of Berlin 4. Lehman Brothers of New York 5. Lazard Brothers of Paris 6. Kuhn Loeb Bank of New York 7. Israel Moses Seif Banks of Italy 8. Goldman, Sachs of New York 9. Warburg Bank of Amsterdam 10. Chase Manhattan Bank of New York.

Please, explain to me why a bank can lend out some of your money.

[JLB]

Please, explain to me why a bank can lend out some of your money.

it's there job.

[C Darwin]

Please, explain to me why a bank can lend out some of your money.
Fractional reserve banking is lending out money you don't have.

[Green Lantern]

Fractional reserve banking is lending out money you don't have.

Not quite, but thanks for the response.

[C Darwin]

Not quite, but thanks for the response.

Idiot, It's not the banks money to lend.

[Green Lantern]

Idiot, It's not the banks money to lend.

Second retort and we have arrrived at idiot already.

You have a thinner skin than anEin.

Is it not true that you do not have to put your money in a bank and, therefore, when you do put your money in a bank the fact that they pay you interest for your deposit is with the understanding that they are going to lend some of your money out again to someone else and charge them interest for it?

[C Darwin]

Second retort and we have arrrived at idiot already.

You have a thinner skin than anEin.

Is it not true that you do not have to put your money in a bank and, therefore, when you do put your money in a bank the fact that they pay you interest for your deposit is with the understanding that they are going to lend some of your money out again to someone else and charge them interest for it?
Yes, now let's say i deposit $10 in my account, the next day the bank gives you a $10 loan, and the next day I withdraw my $10.

[C Darwin]

Premature posting, wait for more.

[C Darwin]

Anyway, in this scenario, the bank just created currency out of nothing. Besides the fact that it's unconstitutional, the ability for a private entity to create currency backed by a fraction is a scam.

[anEinherjer]

I think our resident self-implied genius doesn't understand what the "fractional" part of it means, and instead throws out yet more jackassical (I like that one :)) one-liners that serve only to insult those he's talking to.

Tell me this, algae boy, do you speak in know-it-all one-liners in real life or are we just extra lucky?

[anEinherjer]

Yes, now let's say i deposit $10 in my account, the next day the bank gives you a $10 loan, and the next day I withdraw my $10.

Hey Darwin, it's much much worse than that.

I deposit $10, the bank can turn around and loan out $100 - THAT's the money out of thin air.

Imagine a bank run when the bank has given out 10x what they actually hold in deposits... hmm.....

[35Pete]

Aqua. You're a status quo kinda guy. Has anyone ever said that to you?

[JLB]

Aqua. You're a status quo kinda guy. Has anyone ever said that to you?

not to answer it for him but he is a Dolphin's fan so??? :dunno:

[Green Lantern]

Yes, now let's say i deposit $10 in my account, the next day the bank gives you a $10 loan, and the next day I withdraw my $10.

The bank is only allowed to loan you $9 and must keep 10% in reserve. Hence, "fractional reserve". Or at least, that is how it was explained to me.

[Green Lantern]

Aqua. You're a status quo kinda guy. Has anyone ever said that to you?

When I worked at the hippie-commune-co-op in college, I was called a fascist by those I grated. When I worked in corporate America, I was called a communist. When I worked in academia, I was called a conservative. When I come here, the lunatic fringe calls me a "status-quo"-er.

I'd say that is par for the course.

As I have posted before, I am a natural astringent.

[JLB]

whatever you are you belong here now calm down.

so did you play the violin as a child?

[Green Lantern]

whatever you are you belong here now calm down.

so did you play the violin as a child?

Five instruments, and vocal lessons.

[C Darwin]

The bank is only allowed to loan you $9 and must keep 10% in reserve. Hence, "fractional reserve". Or at least, that is how it was explained to me.

Ever read this?
Section 10 - Powers prohibited of States

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

The bank is creating currency. It is illegal and a scam.

[anEinherjer]

Oops, went back for a refresher course, I wasn't quite accurate.

http://en.wikipedia.org/wiki/Fractional_reserve




:rofl: at Brainy smurf - you're so oppressed. I guess that answers my question from elsewhere: You ARE like this in real life. Priceless!

[Green Lantern]

Oops, went back for a refresher course, I wasn't quite accurate.

http://en.wikipedia.org/wiki/Fractional_reserve




:rofl: at Brainy smurf - you're so oppressed. I guess that answers my question from elsewhere: You ARE like this in real life. Priceless!

The link is to Wiki, but thanks for proving my point. The bank cannot loan out $100 of a $100 deposit, as is C Darwin's assertion; and it cannot loan out $1,000 from a $100 deposit, as is Pete's.

[Green Lantern]

Ever read this?
Section 10 - Powers prohibited of States

No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.

The bank is creating currency. It is illegal and a scam.

The Treasury Dept. prints money. Is this not so?

[Green Lantern]

Back in a few hours; got work. Sorry...

[JLB]

Five instruments, and vocal lessons.

I knew it a smart guy. :rockon:

Your our 1st. :beers:

[C Darwin]

The Treasury Dept. prints money. Is this not so?
They print treasury notes. They are only backed by a fraction of its face value and earns interest for a non-governmental entity.

SCAM!

[anEinherjer]

You're wrong aqua (shocker): They most certainly can loan out a few multiples of what they initially take in. Read the wiki page.

You should also look into how the Fed Reserve works, and probably should read Murray Rothbard's books. Sure the Treasury Dept prints the physical currency, but that's not "money".

[35Pete]

I am correct in this matter. As is anEin, as is Darwin.

[35Pete]

The federal reserve is the shadow gov't.

A private banking system owned by private banks.

Now aqua will scorn this because his poly sci professors never said the Fed reserve was bad. Therefore it can't possibly be.

But. Out of the print, of the public eye the government is requested certain things.

It tells the powers no.

You don't say "no".

Because the dollar just plunged, we've went into a recession, millions unemployed, political and business careers ruined over the sway that the economy just took.

You CAN avoid that.

Just don't say "no"" next time.

[uppy]

:rofl:

The melt of Aqua in this thread is priceless !!

life is good

[JLB]

:rofl:

The melt of Aqua in this thread is priceless !!

life is good

He'll be back!!

[Green Lantern]

You're wrong aqua (shocker): They most certainly can loan out a few multiples of what they initially take in. Read the wiki page.

You should also look into how the Fed Reserve works, and probably should read Murray Rothbard's books. Sure the Treasury Dept prints the physical currency, but that's not "money".

Are you arguing that the bank can loan out $10,000 more than once without anyone depositing the money more than once?

[35Pete]

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[Mouldsie]

i hate keybank the most

[anEinherjer]

Nope, aqua, I'm not arguing that at all, but you appear to be (densely) suggesting that there's nothing wrong with a bank creating thousands of dollars out of thin air, or that somehow they aren't creating money from nothing.

Sure the original loan would have to be deposited again (or more likely, elsewhere), but are you seriously suggesting that wouldn't / couldn't happen?

[Green Lantern]

Nope, aqua, I'm not arguing that at all, but you appear to be (densely) suggesting that there's nothing wrong with a bank creating thousands of dollars out of thin air, or that somehow they aren't creating money from nothing.

Sure the original loan would have to be deposited again (or more likely, elsewhere), but are you seriously suggesting that wouldn't / couldn't happen?

They are not creating money out of thin air. At worst, you could say they are creating debt.

[C Darwin]

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If no money is being created out of debt, why is there inflation?

[Green Lantern]

You are arguing that the credit system creates inflation?

[JoetheDictator]

When he said, "It is well that the people of the nation do not understand our banking and monetary system, for
if they did, I believe there would be a revolution before tomorrow morning."

Who owns the banks?

For educational purposes only.

He was an Anti-Semite and he also believed in the Protocols of the Elders of Zion. Actually his company was sued for continuing to finance a publishing house which printed these forgeries years after the British debunked them in 1919. He did not know what he was talking about and he said this about the Jews.

[C Darwin]

You are arguing that the credit system creates inflation?
No, I'm saying that fiat currency provided by a private bank creates currency. As more and more notes are created, they become devalued. Income tax becomes necessary to make the interest payments back to the bank.

[Green Lantern]

No, I'm saying that fiat currency provided by a private bank creates currency. As more and more notes are created, they become devalued. Income tax becomes necessary to make the interest payments back to the bank.

You are arguing that the Federal Reserve is a private bank?

[C Darwin]

You are arguing that the Federal Reserve is a private bank?
Yes.

[Green Lantern]

Yes.

What makes you think that?

[C Darwin]

Because this answer doesn't satisfy me.

From the FED website:

The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.

As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government."

The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations--possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

[Green Lantern]

Does the Federal Reserve make money when it wants or does it sell T-Bills on demand from the government?

[C Darwin]

Does the Federal Reserve make money when it wants or does it sell T-Bills on demand from the government?
I don't know. Nobody knows. The Fed is independent from and unaccountable to the government. The Fed hasn't opened their books and files to the public in decades. I would imagine the decisions that are made have to do with making profits for wall st.
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[Green Lantern]

I don't know. Nobody knows. The Fed is independent from and unaccountable to the government. The Fed hasn't opened their books and files to the public in decades. I would imagine the decisions that are made have to do with making profits for wall st.


I looked it up. The Federal Reserve does not make money, the Treasury Dept. does. The 12 Reserve banks distribute currency, don't make it.

[Green Lantern]

Also, from the Fed link you provided, it states that the Federal Reserve is audited annually by an independent accounting firm and multiple times a year by the GAO, besides being obliged by law to testify in front of Congress and to the President multiple times a year.

Every member of the Board are appointed by the President and the Senate.

[35Pete]

Also, from the Fed link you provided, it states that the Federal Reserve is audited annually by an independent accounting firm and multiple times a year by the GAO, besides being obliged by law to testify in front of Congress and to the President multiple times a year.

Every member of the Board are appointed by the President and the Senate.

:rofl:

[C Darwin]

Also, from the Fed link you provided, it states that the Federal Reserve is audited annually by an independent accounting firm and multiple times a year by the GAO, besides being obliged by law to testify in front of Congress and to the President multiple times a year.

Every member of the Board are appointed by the President and the Senate.

It is my belief that the Fed gets around all of this and the audits don't ever take place.

[Green Lantern]

They are not creating money out of thin air. At worst, you could say they are creating debt.

Am I wrong?

[C Darwin]

Am I wrong?

If the bank never intends to collect fully, then you are wrong.

[Green Lantern]

If the bank never intends to collect fully, then you are wrong.

If a bank takes my $1,000 deposit and loans $800 to you for home improvements, which you give to me, and I deposit in the same bank and they loan out $600 of that to 35Pete for home improvements, which he gives me, and I deposit again in the same bank, they did not just create money. Is this or is this not true?

[Green Lantern]

If a bank takes my $1,000 deposit and loans $800 to you for home improvements, which you give to me, and I deposit in the same bank and they loan out $600 of that to 35Pete for home improvements, which he gives me, and I deposit again in the same bank, they did not just create money. Is this or is this not true?

bump.

[Green Lantern]

Anyone?

[35Pete]

I looked it up. The Federal Reserve does not make money, the Treasury Dept. does. The 12 Reserve banks distribute currency, don't make it.

Bank notes aqua. That's the in-circulation money supply.

The Fed can create money, via credits, out of thin air.

Just enter a value on a keyboard and out of thin-air, money gets transferred via wire.

[Green Lantern]

Bank notes aqua. That's the in-circulation money supply.

The Fed can create money, via credits, out of thin air.

Just enter a value on a keyboard and out of thin-air, money gets transferred via wire.

How do they do that, in your view? What are these credits you claim?

[anEinherjer]

For gods' sake aqua read murray rothbard.

[Green Lantern]

For gods' sake aqua read murray rothbard.

This is not helpful.

You are unable to answer these types of questions yourself? If you cannot, why do you make statements that you cannot explain?

[35Pete]

If a bank takes my $1,000 deposit and loans $800 to you for home improvements, which you give to me, and I deposit in the same bank and they loan out $600 of that to 35Pete for home improvements, which he gives me, and I deposit again in the same bank, they did not just create money. Is this or is this not true?

That's not what I am saying by "creating money".

It's when the fed pumps money into the economy is when they create it out of thin air.

Then all the slut members that own the fed make a bonanaza off of that phony money. And to add insult to injury they use fractional-reserve to really crank up the profits.

Usery is a sin Aqua.

[Green Lantern]

That's not what I am saying by "creating money".

It's when the fed pumps money into the economy is when they create it out of thin air.

Then all the slut members that own the fed make a bonanaza off of that phony money. And to add insult to injury they use fractional-reserve to really crank up the profits.

Usery is a sin Aqua.

This is the third different way you have said this in this thread but you still have not bothered to explain yourself.

Please, how does anyone create money out of thin air?

[35Pete]

This is the third different way you have said this in this thread but you still have not bothered to explain yourself.

Please, how does anyone create money out of thin air?

I have explained that at least three times aqua. Unambigously too.

When the fed "pumps money in the economy", fiat money, where does it come from?

Don't say the US Treasury or Mint. They're just the lackeys that slap ink on clothe paper. Besides most money "pumped in" is not in notes.

It's in bytes instead.

[Green Lantern]

I have explained that at least three times aqua. Unambigously too.

When the fed "pumps money in the economy", fiat money, where does it come from?

Don't say the US Treasury or Mint. They're just the lackeys that slap ink on clothe paper. Besides most money "pumped in" is not in notes.

It's in bytes instead.

You answer me by asking a question?

I ASKED YOU where it comes from.

[35Pete]

You answer me by asking a question?

I ASKED YOU where it comes from.

From no where. Probably from an executive meeting at the Fed to add "X" dollars to the economy. A new number is typed into a main frame and "viola", money.

The exact mechanism? How the **** would I know?? The fed is a private corporation. It's not like anyone can sit on the decisions of this shadow government.

Which brings up a good question. Doesn't that bother you?

[Green Lantern]

From no where. Probably from an executive meeting at the Fed to add "X" dollars to the economy. A new number is typed into a main frame and "viola", money.

The exact mechanism? How the **** would I know?? The fed is a private corporation. It's not like anyone can sit on the decisions of this shadow government.

Which brings up a good question. Doesn't that bother you?

Where did you get this information?

[35Pete]

Where did you get this information?

I'll have to dig in my favorites. I read with a voracious appetite. So much so that I may have to dig it up.
But when the Fed increases the money supply it effectively creates money out of thin air. In modern times it's typing a number in. The money is not backed by a hard asset.

I am sure that if I don't find it immediately than one of the libertarians or real old school paleocons here will have it.

[Green Lantern]

I'll have to dig in my favorites. I read with a voracious appetite. So much so that I may have to dig it up.
But when the Fed increases the money supply it effectively creates money out of thin air. In modern times it's typing a number in. The money is not backed by a hard asset.

I am sure that if I don't find it immediately than one of the libertarians or real old school paleocons here will have it.

The highlighted is the assertion I would like articulated.

Thanks for as far as you could go.

[35Pete]

The highlighted is the assertion I would like articulated.

Thanks for as far as you could go.

Nice and typical snide jack ass remark.

Tell you what. Well I go back from a year ago and find what report I read (since I can't find it in 5 minutes) perhaps you can tell me where money comes from when the Fed injects money into the economy. Really. I'd like to hear where you think it comes from.

Again. Don't you find the secrecy of the fed to be alarming?

[Green Lantern]

So far Pete, anEin and C Darwin are arguing that money is created "out of thin air" but none can tell me why or how.

Can anyone out there back up this argument?

[Green Lantern]

Nice and typical snide jack ass remark.

Tell you what. Well I go back from a year ago and find what report I read (since I can't find it in 5 minutes) perhaps you can tell me where money comes from when the Fed injects money into the economy. Really. I'd like to hear where you think it comes from.

Again. Don't you find the secrecy of the fed to be alarming?

I am not trying to be snide. I was being sincere. You have made a statement that you seem to think is fundamental or elemantary. I have never taken so much as an economics course in my life and would like to know why you think what you think.

Your answer is that you learned what you learned so long ago that you do not even recall when it was you learned it. I can relate as there are some things so fundamental to politics that I would be hard-pressed to find an authority on it if asked by a novice.

[35Pete]

So far Pete, anEin and C Darwin are arguing that money is created "out of thin air" but none can tell me why or how.

Can anyone out there back up this argument?

I haven't addressed fractional reserve banking in this thread.

But anEin and Darwin explain the hocus pocus shell game quite well.

[Green Lantern]

I haven't addressed fractional reserve banking in this thread.

But anEin and Darwin explain the hocus pocus shell game quite well.

Fractional reserve, I already understand. That was explained to me and I still see no hocus pocus.

[35Pete]

Fractional reserve, I already understand. That was explained to me and I still see no hocus pocus.

Do you see the multiplicative effect of loan, re-loan, ect?

Do you also see the inherent instability of this? Or the potential domino effect?

[Green Lantern]

Do you see the multiplicative effect of loan, re-loan, ect?

Do you also see the inherent instability of this? Or the potential domino effect?

Yes. That is why, as I understand it, the federal RESERVE bank makes emergency loans when a bank is in need: banks crashing is bad and causes runs on banks which, in turn, create panics and Great Depressions.

[35Pete]

Yes. That is why, as I understand it, the federal RESERVE bank makes emergency loans when a bank is in need: banks crashing is bad and causes runs on banks which, in turn, create panics and Great Depressions.

Do you think that the Fed has piles of spare cash just lying around for an emergency though?

[Green Lantern]

Do you think that the Fed has piles of spare cash just lying around for an emergency though?

Yes. According to their website, they make money every year and give the profits to the government.

[35Pete]

Yes. According to their website, they make money every year and give the profits to the government.

LOL.

All of the profits?

[Green Lantern]

LOL.

All of the profits?

After they pay salaries and overhead.

According to the site, they manage only 5% overhead from their profits and last year wrote a check to the government of, I think it was, $22 bn.

[C Darwin]

I looked it up. The Federal Reserve does not make money, the Treasury Dept. does. The 12 Reserve banks distribute currency, don't make it.

The Fed "backs" a fraction of the currency, money looses a 1:1 (reserve to circulation) ratio and currency is created.

[35Pete]

After they pay salaries and overhead.

According to the site, they manage only 5% overhead from their profits and last year wrote a check to the government of, I think it was, $22 bn.

Uhhm. Look deeper. I'll get to this in the next day. Today I am doing "work" work (yes on a weekend, at home), Range work, and watching football. Too much on the plate but some research needs to be spilled here. Perhaps some other posters could start?

[C Darwin]

After they pay salaries and overhead.

According to the site, they manage only 5% overhead from their profits and last year wrote a check to the government of, I think it was, $22 bn.
The shareholders get nothing? doin' some research, be back later.

[Green Lantern]

The shareholders get nothing? doin' some research, be back later.

According to the Reserve's website, you only pay dues to be a shareholder, there are no profits to be had by joining.

[Green Lantern]

The Fed "backs" a fraction of the currency, money looses a 1:1 (reserve to circulation) ratio and currency is created.

I do not understand this sentence.

[anEinherjer]

Yes. According to their website, they make money every year and give the profits to the government.

Umm... isn't this what we've been saying all along?!

:dunno:


As far as creating money, where did the $41B they "injected" into the market this week come from?

The entire thing is a shell game. Fiat money. Why do you think everyone's (well ok, everyone who's paying attention) worried about oil markets trading in something other than dollars, and about the Chinese giving up dollars?

If "dollars" had true value, it wouldn't matter would it?


Here's an example: You can get a "$20" Liberty coin right now. You pay them $20 US and you get a 1 ounce 99% pure silver coin that says "$20 Liberty" on it.

Let's say the Liberty coin guys give it up.

You still have "value". It's worth whatever an ounce of silver is worth.

Imagine the same thing happens with a US dollar bill. (Or hey, a penny!) Suddenly, you can't get an extra value meal for $2.99 US any more - you gotta pay $4 or $5 US. Guess what, the absolute value of the "meat", fries and drink aren't suddenly 40% greater - the "value" of your greenback is 40% less.

That's "inflation" but it's a result of the "thin air" creation of fiat currency.

Hope that helps.

[Green Lantern]

Umm... isn't this what we've been saying all along?!

:dunno:




I hope you know I meant that the Reserve banks make a profit.

[Green Lantern]

As far as creating money, where did the $41B they "injected" into the market this week come from?

The entire thing is a shell game. Fiat money. Why do you think everyone's (well ok, everyone who's paying attention) worried about oil markets trading in something other than dollars, and about the Chinese giving up dollars?

If "dollars" had true value, it wouldn't matter would it?



Silver has no true value, as I understand it. And second, every currency in the world is "fiat" currency.

[35Pete]

Silver has no true value, as I understand it. And second, every currency in the world is "fiat" currency.

Didn't use to be that way.

In 2002, there were only 3 government owned (non-private central banks).

Iran, Iraq, and North Korea.

Now we are down to two.

[Green Lantern]

Didn't use to be that way.

In 2002, there were only 3 government owned (non-private central banks).

Iran, Iraq, and North Korea.

Now we are down to two.

Link?

[Green Lantern]

Didn't use to be that way.

In 2002, there were only 3 government owned (non-private central banks).

Iran, Iraq, and North Korea.

Now we are down to two.

Oh yeah, Cool...

[35Pete]

Oh yeah, Cool...

I'm not your monkey. It's two nations. Go google their central banks for God's sakes.

[35Pete]

Actually I recall one ends with .ir

That's Iran. And the NSA is CERTAIN to intercept that query. So I am in the database. That's for sure.

So, be forewarned. Big brother is watching and he doesn't trust you.

[Green Lantern]

Actually I recall one ends with .ir

That's Iran. And the NSA is CERTAIN to intercept that query. So I am in the database. That's for sure.

So, be forewarned. Big brother is watching and he doesn't trust you.

You are telling me you googled all 193 or so countries and found out that only these two have government owned banks? Or did you just read it somewhere?

[35Pete]

You are telling me you googled all 193 or so countries and found out that only these two have government owned banks? Or did you just read it somewhere?

No. I read it. Then checked the three remaining nations. Then spot checked a few of the others. Interesting factoid. Probably coincidence given the status of those nations. Then again, maybe not.

But I don't want to click on any Iran or NK links again. Go ahead. Be my guest.

[uppy]

But I don't want to click on any Iran or NK links again. Go ahead. Be my guest.


LOL

Please just stop....no one is spying on you.

[Green Lantern]

Has anEin given up after two questions again, or do you think he will be back to answer my questions?

[uppy]

Has anEin given up after two questions again, or do you think he will be back to answer my questions?


Thats a good question.....he could be gone for a five weeks
then come back and declare he has run you off....lol

[35Pete]

You two are pathetic. The "where is he" tactic has got to be one of the cheapest MB tactics there is.

I suppose he should always be here to answer your beck and call lest you declare "abandonment" and then subsequent victory?

[anEinherjer]

What, a guy can't go out and spend a nice afternoon outside without the bitches starting to bray? You guys are such pussies. Time to go back to page 4 to see what's what.

You'd think uppy, of the recent quitting episode, would be smart enough to keep his stupid trap shut. Guess not.

[35Pete]

What, a guy can't go out and spend a nice afternoon outside without the bitches starting to bray? You guys are such pussies. Time to go back to page 4 to see what's what.

You'd think uppy, of the recent quitting episode, would be smart enough to keep his stupid trap shut. Guess not.

He's back to his usual stupid illogical tough guy America rants. I have requested an ice pick to the forward for relief.

[anEinherjer]

Silver has no true value, as I understand it. And second, every currency in the world is "fiat" currency.

Um.... where the **** is the question that I supposed ran off from? :dunno:

For a guy acting like the smartest one in the room you're kind of a dumb shit, waterboy.

Your assertions in this post are completely wrong, as usual. Seriously, you should do at least a little reading up on the concept of money (like I said, start with Murray Rothbard) before zipping off your snippy wannabe smart remarks. We're not here to reeducate you (you already know everything so really what's the point of trying).

[uppy]

What, a guy can't go out and spend a nice afternoon outside without the bitches starting to bray? You guys are such pussies. Time to go back to page 4 to see what's what.

You'd think uppy, of the recent quitting episode, would be smart enough to keep his stupid trap shut. Guess not.

I quit for a few days.....lol

I never said it was forever

[Green Lantern]

Um.... where the **** is the question that I supposed ran off from? :dunno:

For a guy acting like the smartest one in the room you're kind of a dumb shit, waterboy.

Your assertions in this post are completely wrong, as usual. Seriously, you should do at least a little reading up on the concept of money (like I said, start with Murray Rothbard) before zipping off your snippy wannabe smart remarks. We're not here to reeducate you (you already know everything so really what's the point of trying).

Re-educate? I have admitted knowing nothing about economics. I have questions about what you state to be the truth of the matter and I have yet to have you answer me. You left the first unanswered question on page one.

[Green Lantern]

You two are pathetic. The "where is he" tactic has got to be one of the cheapest MB tactics there is.

I suppose he should always be here to answer your beck and call lest you declare "abandonment" and then subsequent victory?

He left a question on the first day of the thread Pete, not today.

[35Pete]

He left a question on the first day of the thread Pete, not today.

Maybe he forgot.

Jesus. I have been asking Uppy to answer some questions repeatedly all night. And he keeps dodging. That's evasiveness. They are really simple questions. No snags or tricks to them at all. He doesn't want to go on record though.

Ask anEin again. One thing he's not is evasive.

[Green Lantern]

Maybe he forgot.

Jesus. I have been asking Uppy to answer some questions repeatedly all night. And he keeps dodging. That's evasiveness. They are really simple questions. No snags or tricks to them at all. He doesn't want to go on record though.

Ask anEin again. One thing he's not is evasive.

Bump

[anEinherjer]

Which question am I supposed to be answering? I didn't realize answering every silly question from the peanut gallery was a rule in PRS... I'm sure as **** not about to go through every one of your silly posts to find every question you ever asked.

[anEinherjer]

Is this the question:

Is it not true that you do not have to put your money in a bank and, therefore, when you do put your money in a bank the fact that they pay you interest for your deposit is with the understanding that they are going to lend some of your money out again to someone else and charge them interest for it?

Is it not true that you are not supposed to not put double negatives in a sentence?

Maybe his mad Engrish skillz are beyond my ken but I don't even know what it is that he's asking. :dunno:

Or is it this question:

If Ford said it, it must be so?

I think this one's supposed to be rhetorical, a silly device he's trying to use to make the original poster look stupid - or suggesting that Ford's wrong.

Which is it, waterboy?

[anEinherjer]

Now, just because I don't want to be a complete dick, I'll answer it: Don't play stupid, aqueous boy!

Let me rephrase the question so humans can understand it: You aren't required to put your money in the bank. But when you do, you do so with the understanding the bank will do SOMETHING with your money - something such as lend it out to others, charging them interest for the privilege of getting a loan.

No shit, Sherlock. It's rather like an investment in anything: You put money into it expecting a return (interest on your deposit). That investment must be put to work (no matter where you put it) so that it can earn that interest (or *gasp* capital gain, or *gasp* dividend).

But that's not what fractional reserve banking is all about. Seriously. You'll figure it out eventually if you think on it long enough. Well, maybe.

[Green Lantern]

I have been trying to find out why you guys think anyone is "creating" money out of thin air. Pete has answered his rationale to the extent he could but you have dropped your line of argumentation, it seems.

If I deposit money, and the bank loans it out, and I get paid with that money and deposit it again, and the bank loans it out again (with a fraction held in reserve for each deposit), what is the major problem?

I do not understand.

[anEinherjer]

Oh, so now the question has changed to "what is the major problem?" Okay. I don't have the time, nor experience in arguing it, to make a cogent argument myself, so I will simply point you to two different sites that should explain it to you - if you actually cared, which at this point is really in doubt:

http://www.lewrockwell.com/rothbard/frb.html

Rothbard does an absolutely amazing job of explaining the scam, with excellent examples. If you refuse to follow the link and read the page, we're done.

http://www.mises.org/money.asp

I truly recommend Rothbard's book "What Has Government Done to Our Money?" (the 2nd link). Pat II, Money in a Free Society completely changed the way I view "money" vs. "currency". The final part, "The Monetary Breakdown of the West", Part IX is interesting as well in this context.

[Green Lantern]

Oh, so now the question has changed to "what is the major problem?" Okay. I don't have the time, nor experience in arguing it, to make a cogent argument myself, so I will simply point you to two different sites that should explain it to you - if you actually cared, which at this point is really in doubt:

http://www.lewrockwell.com/rothbard/frb.html

Rothbard does an absolutely amazing job of explaining the scam, with excellent examples. If you refuse to follow the link and read the page, we're done.

http://www.mises.org/money.asp

I truly recommend Rothbard's book "What Has Government Done to Our Money?" (the 2nd link). Pat II, Money in a Free Society completely changed the way I view "money" vs. "currency". The final part, "The Monetary Breakdown of the West", Part IX is interesting as well in this context.


I have been typing for a number of pages now asking people who claim to know how money is "created" out of thin air.

Your best shot is to direct me to someone who knows.

Thanks.

[anEinherjer]

Let us know whether or not you agree with Rothbard - since you're only worried about the "thin air" part, the first link is most relevant.

[Green Lantern]

Let us know whether or not you agree with Rothbard - since you're only worried about the "thin air" part, the first link is most relevant.

I asked you, not Rothbard.

I do not understand how you can make an assertion about something and then not be able to, in your own words and in maybe three sentences, back it up.

If I tell you that there are, in the abstract, six forms of rule. I could link Politics of Aristotle and tell you to read him or I could simply say:

Rule of the One

Rule of the Few

Rule of the Many

There is not Rule of the All (who would you rule) and there is not Rule of the None (no one rules).

Of the three above, there is the Good form of Rule (ruling for the sake and interest of the ruled) and the Bad form of Rule (rule for the sake of those ruling). That makes six.

Now was that difficult? No, because I know what I read and I understand it and can explain it to another.

If you cannot explain yourself without resort to the author you read, maybe you should think twice about repeating what it is you read.

[Green Lantern]

PS-

Please do not think I am denigrating you, just tell me how you create money out of thin air.

[anEinherjer]

And I have said to you (more than once now) that I am not in a position to explain it in short syllable words for you. I'm sorry, some concepts are more complex than that.

I also cannot explain the theory of relativity in short syllable words, but that does not make it 'true' (as far as scientific theory can be).

In short syllable words for you: bite me, I have a job.

[Green Lantern]

Can anyone explain how money is created out of thin air?

[anEinherjer]

One wonders why you are so curious to have one of us type of up a description when there are perfectly acceptable links that we point you to. What do you think, any of us wants to sit around explaining it to someone who doesn't agree and doesn't want to agree? Give me a break.

[Green Lantern]

One wonders.

[Green Lantern]

One wonders why you are so curious to have one of us type of up a description when there are perfectly acceptable links that we point you to. What do you think, any of us wants to sit around explaining it to someone who doesn't agree and doesn't want to agree? Give me a break.

I do not agree or disagree with your premise. I know nothing about the subject and asked a simple question to which I got an unsatisfactory answer. When I follow this up, I get: I do not have the time or patience to explain myself to you.

The way it looks from here is that you have decided based on your research and, rather than explain your assertions, you would like me to believe you based on the fallacy of authority.

Last chance: If I deposit money $1,000 and the bank loans $800 of that to a homeowner who hires me and pays me with that money and I deposit that money and the bank loans out $640 of that to another homeowner who pays me and I deposit it again, how was money created?

[anEinherjer]

The fallacy here is that you think I want you to believe anything. I don't care whether you believe it or not. I am only even responding in this thread because you demanded that I answer you, and then impugned me in other threads for "fleeing" - I'll put my rep against yours any day.

Your question, once again (last chance for you to "get it"), is incorrect and invalid, so I can't give you an answer. Instead, let me explain it (again): Say a bank starts up with nothing, and you deposit $1000 into that bank. It now has cash reserves of $1000 because you put it there. Given a 10% reserve ratio, that bank is now able to loan out $10,000 to other people.

It's not that hard, we've already established this, you don't seem to get it, nor do you seem to want to get it.

[anEinherjer]

This isn't an easy concept to understand, and thus I point you to someone who CAN explain it, and you attack me as appealing to authority? That's pretty ****ing stupid, pardon my french.

I suppose now any link to back up any assertion on the Range is now an appeal to authority?

Please. This thread has run its course, you can continue your dishonesty in another.

[Green Lantern]

The fallacy here is that you think I want you to believe anything. I don't care whether you believe it or not. I am only even responding in this thread because you demanded that I answer you, and then impugned me in other threads for "fleeing" - I'll put my rep against yours any day.

Your question, once again (last chance for you to "get it"), is incorrect and invalid, so I can't give you an answer. Instead, let me explain it (again): Say a bank starts up with nothing, and you deposit $1000 into that bank. It now has cash reserves of $1000 because you put it there. Given a 10% reserve ratio, that bank is now able to loan out $10,000 to other people.

It's not that hard, we've already established this, you don't seem to get it, nor do you seem to want to get it.


I would like a link to that.

I was told that the bank must hold 10% of your deposit on reserve (a fraction) not that the bank can loan out 10 times what it has on deposit.