CNBC Admits: Were All Slaves To Central Bankers And Global Government

[dilloduck]

I don't know what later changed his mind and allowed him to work first hand on the ponzi scheme, but he was right in 1966.

Money

Currency, you mean. But I do know what you're saying....

cheese

 

[expat_panama]

...they can credit an account with money based on their reserves plus the collateral they hold. We've been doing it for many hundreds --maybe thousands of years. It works.

For awhile. When it's abused it's a disaster...

--just like families and governments, and churches. Bottom line here is that all these institutions are here to stay. It's the real world and we simply deal with it.

 

[expat_panama]

...Banks can't print currency or loan out currency that's not on hand, but rather they create 'money' --they can credit an account with money based on their reserves plus the collateral they hold. We've been doing it for many hundreds --maybe thousands of years. It works.

It works? Tell that to the people that lost their ass in 2008. Low interest rates, credit abound, oopsy on that, pop goes the weazel.

Hold on a second, you sound like you're trying to outlaw all loans/interest. If that's not the case then just what were you complaining about?

 

[TakeAStepBack]

...Banks can't print currency or loan out currency that's not on hand, but rather they create 'money' --they can credit an account with money based on their reserves plus the collateral they hold. We've been doing it for many hundreds --maybe thousands of years. It works.

It works? Tell that to the people that lost their ass in 2008. Low interest rates, credit abound, oopsy on that, pop goes the weazel.

Hold on a second, you sound like you're trying to outlaw all loans/interest. If that's not the case then just what were you complaining about?

I'm not trying to outlaw anything. I'm simply pointing out the observable. Loans/interest are fine, when the lender actually has the principle to cover the loan in the first place. If they are simply lending "out of thin air", which is what fractional reserve banking entails, then I'm pointing out reality.