|
|
|
|||
tommy Eternal Order Devil's Island 16543 Posts 
|
Just consider what might happen if mortgage holders realised the money the bank lent them is not, really, the life savings of some thrifty pensioner, but something the bank just whisked into existence through its possession of a magic wand which we, the public, handed over to it.
http://www.globalresearch.ca/fast-tracki....../5455231
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
S2000magician Inner circle Yorba Linda, CA 3465 Posts
|
When they say that there's no limit to the amount of money a bank can create, they're, quite simply, wrong.
Banks are limited by reserve requirements set by central banks. As for this being news . . . that's just silly. The effects of fractional reserve banking have been well known and analyzed for decades at least, centuries more likely. Any beginning course in macroeconomics discusses fractional reserve banking and the money multiplier. In short, there's nothing to see here. Move along. |
|
tommy Eternal Order Devil's Island 16543 Posts
|
If there is no limit on the reserves a bank can have then how can there be a limit on much the banks could create?
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
|
S2000magician Inner circle Yorba Linda, CA 3465 Posts
|
False premise.
|
|
tommy Eternal Order Devil's Island 16543 Posts
|
What is the limit a bank can have on reserve?
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
|
S2000magician Inner circle Yorba Linda, CA 3465 Posts
|
Its deposits (assuming it makes no loans, of course).
|
funsway Inner circle old things in new ways - new things in old ways 9987 Posts
|
But there is no limit on the money people can create though credit cards they never intend to pay, or play a sort of Ponzi Scheme with several companies.
How about professional renters who manipulate the law it live "rent free" in a house for months, or the 'we pay cash" scams and Craigslist scams that rent houses they don't own. On a sadder note, we gave the Japanese baking industry the money to start up again in the 50's -- and now many will not lend money to us. If this money had been a loan at 3% they would owe us trillions of dollars. The Marshall Plan was necessary because we had so much gold reserves we had to give it away to jump start trade. Yes, many banks have been artificially created, but they do have controls. It is people's greed that cannot be controlled.
"the more one pretends at magic, the more awe and wonder will be found in real life." Arnold Furst
eBooks at https://www.lybrary.com/ken-muller-m-579928.html questions at ken@eversway.com |
|
tommy Eternal Order Devil's Island 16543 Posts
|
Right so there is no limit.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
mastermindreader 1949 - 2017 Seattle, WA 12586 Posts
|
Maybe this will provide some perspective to the OP. Michel Chossudovsky, the founder of the website tommy cited to support his premise, has been described thusly:
Quote:
MICHAEL CHOSSUDOVSKY, PROFESSOR OF ECONOMICS, UNIVERSITY OF OTTAWA http://www.westernstandard.ca/website/ar......&start=1 |
irossall Special user Snohomish, Washington 529 Posts
|
What money? Most of our cash is nothing but binary code that is backed by Faith, not Gold or any material object.
-Iven
Give the gift of Life, Be an Organ Donor.
|
|
Magnus Eisengrim Inner circle Sulla placed heads on 1053 Posts
|
Quote:
On Jul 10, 2015, mastermindreader wrote: No opinion on Chossudovsky, but you've stumbled across what passes for eye-rolling right-wing journalism in Canada.
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned; The best lack all conviction, while the worst Are full of passionate intensity.--Yeats |
|
tommy Eternal Order Devil's Island 16543 Posts
|
There is no real limit to the amount banks can bank so there’s really no limit on how much banks could create, provided they can find someone willing to borrow it. Those banks can bank all there is to bank and the central could create more. How much is created is untimely decided by monetary policy of the central bankers. Reserve banking is a con and just a nice way of saying we will print IOUs for the gold we have not got.
Can you lend me £100 please? Yes! But I have only got £20 and so I will give you an IOU for £100 and call it money. Cool said the Canadian. :rolleyes:
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
|
mastermindreader 1949 - 2017 Seattle, WA 12586 Posts
|
Magnus- That's just one of many criticisms of Chossudovsky and his frequently bizarre assertions. See: https://en.wikipedia.org/wiki/Michel_Chossudovsky#Criticism He's quite a prominent supporter of the New World Order conspiracy theory, 9/11 "trutherism," etc.
|
|
tommy Eternal Order Devil's Island 16543 Posts
|
Repaying bank loans destroys money just as making loans creates it
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
|
Magnus Eisengrim Inner circle Sulla placed heads on 1053 Posts
|
Quote:
On Jul 10, 2015, mastermindreader wrote: Heck, I'm not defending him. I'm simply amused by the reference.
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned; The best lack all conviction, while the worst Are full of passionate intensity.--Yeats |
|
S2000magician Inner circle Yorba Linda, CA 3465 Posts
|
Quote:
On Jul 10, 2015, funsway wrote: Every credit card I've ever gotten had a credit limit. It isn't limitless. |
|
tommy Eternal Order Devil's Island 16543 Posts
|
For newly created money to be destroyed, it needs to pass to households and companies with existing loans who want to repay them.
This bank system ought to be destroyed. Unless you want it to destroy you.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
rockwall Special user 762 Posts
|
Quote:
On Jul 10, 2015, S2000magician wrote: Never had a black card, eh? But is there a limit to the number of cards you can own? (Well, theoretically, yes, but it's still quite a few.) |
|
tommy Eternal Order Devil's Island 16543 Posts
|
As the ultimate limit to money creation by commercial banks is the monetary policy of the central bankers, so the central bankers can manipulate money, as all is measured in money, so the central bankers can manipulate all. Is it any wonder that, in the field of human conflict never was so much owed by so many to so few?
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.
Tommy |
| The Magic Cafe Forum Index » » Not very magical, still... » » The Magic Banking Game Exposed (0 Likes) | |
Posted: Jul 10, 2015 12:45 am 
| [ Top of Page ] |
|
All content & postings Copyright © 2001-2024 Steve Brooks. All Rights Reserved. This page was created in 0.05 seconds requiring 5 database queries. |
|
The views and comments expressed on The Magic Café are not necessarily those of The Magic Café, Steve Brooks, or Steve Brooks Magic. > Privacy Statement < 
|