Nintendo Switch review: Hands-on with the intuitive modular console and its disappointing games…
Here are some facts that you will not find in the media:
1. In the private bankers debt-based money system that we are made to use, 97% of “money” circulating was originally created as computer ledger entries by private commercial banks when we take out loans and mortgages. It has no tangible existence outside the banks interacting computer systems because we withdraw hardly any of it in the form of Government created cash. This system is replicated in very similar forms in virtually every developed country, the world over.
2. No borrowing in the system would mean no money. When the commercial banks lend “money” its NEW Number Money (existing as data only) they created the moment the amount appeared in the “borrower’s” account. No depositor is ever sent a letter saying their money is temporarily unavailable because its been lent to someone else. No-one else’s account was touched, reduced or affected. Meanwhile not one person in a hundred grasps the fact that our governments have all permitted private banks to create over 95 percent of our money supply bringing huge profits to them and endless debt to us. Obviously there will not be enough money to pay the interest as the interest has to come from the same source, (more money creation by private financial institutions with yet more interest). So national and personal debt rises and the overall interest due also rises with time. This is the real reason why we are told the economy always has to grow. Present UK government debt mostly to the private banks is £0.5 Trillion, up from £90 Bn in 1980 and £26 Bn in 1960.
3. For government, taxing the people helps pay the interest bill and that is why overall taxation is always rising. Much of our taxes go straight into the pockets of the super-rich international bankers to pay the interest on the "money" (data) they have "lent" and created out of thin air.
4. Banks are allowed to create money OUT OF NOTHING at negligible cost to them and charge all borrowing individuals, businesses and governments interest on it. This is because it only circulates as data between banks' computers and not as cash which they would have to pay the government for. This freely created intangible data "money" circulates when you get paid your salary by bank computer transfer or when you use your cards, direct debits, cheques, CHAPS payments etc. Look into "fractional reserve banking". Google "electronic money creation", "webofdebt", "prosperityUK", “Monetary Reform”.
I know its hard to get your mind round when none of our corporate media talks about it, hardly any MPs know about it and it goes against everything you've assumed or been taught. 99.99% of people assume that banks & building societies lend out money that their other customers have deposited, or that they've borrowed it from the Central Bank, (BoE in UK). We demand of our governments fair money systems. Money creation must be taken out of the hands of the money masters and into the hands of the people, "where it properly belongs." (Abraham Lincoln).
If you don't believe me & you don't want to bother researching the sources I have quoted then:
For a succinct explanation visit click here
AND To watch an impressive explanatory FILM, (needs headphones):
visit click here
OR Google "Money as Debt" to watch another 50 minute animated film.
And your point is....?
E-mail your bank and they will 'lend' you the wherewithall to 'Act' of course.
Welcome to the real world.
Yes the whole basis of economic growth is founded on the banking system. In fact it works and works very well if the system is supported by the trust which is needed for each area of the economy to function.
I do not see it as some heinous crime as you appear to see it. Like everything which supports "society" we expect systems to be supported because without the support things will soon descend into chaos. Take a simple but silly example, we all rely upon others to respect the rules of the road but chaos would ensue if I decided to drive on the right.
Banking is the same, it requires trust within a framework of rules to allow our economy to thrive. I see no harm in Banks making profits, after all that's why they are there.
You have obviously skipped all the economics lessons at school, as your understanding (and the totally gormless website that you linked to) of economics is simplistic at best. I recommend that you read a bit of Will Hutton (esp. the bits about inflation caused by using money that is not backed by metals) and a cursory knowledge of the Modigliani-Miller theorem might guide you in the right direction.
Can someone cut to the chase and tell me if I need to dash out and start queueing outside the bank?
Is this Spam? The painful squeezing of the subject into the title and copy and paste appearance of the body make me think so, but apologies if it is a serious point from a regular contributor.
Why would I want to go on the stage just because the banking system is a tad suspect?
Actually choking out load 'cos I'd just taken a sip of coffee.
A small health warning wouldn't go amiss next time please.
(my eyes are still watering)
I was awfully glad to see the responses.
I was halfway through the first post and had to give up because I didn't know what he was on about!
Glad I'm not the only one.
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