RIP: Common Sense

[The Prophet of Doom]

This is why I love the RoV :-)

[supervision]

   Google this:  moneyasdebt.net   Their is a 47min. youtube vid that really explains how our monetary system has evolved.  I think most people will be surprised, by the facts in the vid.  

[Rikugun]

Interesting points John.  :)

[Brian Moffet]

Oh yeah, when you decide to pay extra taxes, send it to me and I'll forward it to the IRS for you.

That would be a hand-out. 

Obviously, this is not a place for liberals to hang out, so goodbye.

[supervision]

  He's a simple question, how come the only people getting a good deal on interest, is on the debt side of the equation? Doesn't make you feel that it is sort of out of balance, that their is next to nothing being paid in savings account interest?  That question has nothing to do with taxes, or taking sides on anything. 

[iain]

supervision
Excellent u tube clip

Iain
NZ

[supervision]

  Thanks Iain,  glad you liked it.  Say's a lot about, "the hold" they have on, everyone.  Most don't even realize, how theirs no such thing, as money, only the debt it represents.  Kind of a scary position, to be.

[JohnAMcG]

I was kinda waiting to see if anyone commented on that video link.  I have not seen it myself, but I have spent many long nights down that rabbit hole.  There is a reason they do not teach money theory in public schools anymore, once considered a necessary instruction to function in society.  It is correct that dollars are debt, they are promises to pay.  Here is the question, whose promise is it??  I would start by looking at the "bill" itself.  You will notice that it is not called a bill on its face, but a "Note".  Looking up what those two terms mean, is a good start, then look to see who has signed it.  Remember, when using law di

Supervision, I will try to answer your question.  It is really no where near as simple as it sounds.  The FED sets the prime interest rate, and all other rates are functions of the prime rate.  Right now, this rate is basically zero, meaning banks can get *almost free money, and because of this they can lend it out at very low interest rates.  This is why banks pay close to zero on saving accounts.  The margin is not as large as it could be with higher prime rates.  That is the simple answer but there is more to it than that.  A bank only has to keep a fraction of the money on it's books available for withdraw.  Here's is where it gets tricky.  The treasury has put out several very enlightening documents on how this all works, but basically, if you deposit 10,000 dollars, that is an asset.  On the liability side, it can now have 100,000 put out in new loans.  How can it lend money it doesn't have??  Well, again this is all very tricky, that is why we have title companies for the transfer of assets.  It is a matter of shifting around the liability (legal, not accounting) of completing a transaction that on its face does not meet all of the requirements necessary to happen.  If I had a bank saying they were going to loan me 300,000 for your house, and you own it outright, why do I need the bank to transfer the money to a title company before it can go to you?  The reason is that the money does not exist yet, and it must be created for my use.  I need to sign a negotiable instrument (MONEY, a mortgage contract) that can be sold at face value for reserve notes.  Banking rules prevent them from doing this themselves, so we have title companies and clearing houses, and everything has to change hands a number of times to create the right entries on both sides of the ledger.  In the simplest terms, your mortgage if filed with the treasury, who then sells it to the federal reserve to get the FRNs.  In practice, this is all done in electronic ledgers, and only the difference is reconciled from time to time. 

The interesting part of all of this, if we were to pay back all public and private debt, there would be no money. There would be no debt for the treasury to sell to the fed.  (Of course this is impossible, as we owe interest to the FED on top of what they gave us.  It is a game of musical chairs)  This is why :

     "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."   -Thomas Jefferson

The Federal Reserve is actually the 3rd national bank in this country.  People who love liberty and the ideals this country was founded on fought hard to prevent the first two, and even harder to destroy them.  Woodrow Wilson even admitted after he was out of office, that he had sold out and condemned the nation to the control of international bankers.  It would not be hard to argue that the Revolutionary war was actually fought against the bank of england.  The king had no real power to police a land an ocean away, but if we used his currency, he didn't have to. 

It is early, and I have no references in front of me, but that is the just of it.

I am reading this http://www.constitution.org/mercier/incon.htm now, it has a good overview of banking in there, but be warned, it is a private letter not meant for publication, written by a very religious Mormon, who seems to have a brilliant legal mind.  I think I am most interested in the way he shows how our laws are meant to model natural laws, and how this coincides with God's law.  Something I've been thinking about lately. 

Anyhow, since Brian kicked out all the liberals, I guess our discussion will fall off a cliff.  We may be in trouble though, he appears to have stumbled onto the main stream liberal formula: tell you what you meant by what you said ( or just whatever I would prefer to respond to) + Don't respond, dismiss the author (insults optional).  Although most who employ this strategy realize it works best in a format where you can shout down your opposition. 

The sarcasm and irony is not wasted on me. 

[Rick G]

You address  these facts very well!
There is a cure, but if I said what it is, I would have to worry about the FBI knocking on my door!