Debts For The People
In his essay, "Billions for the Bankers--Debts for the People: An indictment of the Federal Reserve System," the late Pastor Sheldon Emry examines the corruption at the core of the American monetary system.
This essay examines the corruption at the core of the Canadian monetary system. It suggests that Canadians lost control of their money supply in much the same way as the Americans. How can we get it back?
Money is "Created", Not Grown or Built
Economists use the term "create" when speaking of the process by which money comes into existence. New "Creation" means making something which did not exist before. Lumber workers make boards from trees, workers build houses from lumber, and factories manufacture automobiles from metal, glass and other materials. But in all these they did not actually "create."
They only changed existing materials into a more usable and, therefore, more valuable form. This is not so with money. Here, and here alone, man actually "creates" something out of nothing.
A piece of paper of little value is printed so that it is worth a piece of lumber.
With different figures it can buy the automobile or even the house. It's value has been "created" in the truest sense of the word.
"Creating" money is very profitable!
As is seen by the above, money is very cheap to make, and whoever does the "creating" of money in a nation can make a tremendous profit. Builders work hard to make a profit of 5 % above their cost to build a house.
Auto makers sell their cars for 1 percent to 2 percent above the cost of manufacture and it is considered good business. But money "manufactures" have no limit on their profits, since a few cents will print a $1 bill or a $10,000 bill. That profit is part of our story, but first let consider another unique characteristic of the thing -- money, the love of which is the "root of all evil".
Adequate money supply needed
An adequate supply of money is indispensable to civilized society. We could forego many other things, but without money, industry would grind to a halt, farms would become only self-sustaining units, surplus food would disappear, jobs requiring the work of more than one man or one family would remain undone, shipping and large movement of goods would cease, hungry people would plunder and kill to remain alive, and all government except family or tribe would cease to function.
An overstatement, you say? Not at all. Money is the blood of civilized society, the means of all commercial trade except simple barter. It is the measure and the instrument by which one product is sold and another purchased. Remove money or even reduce the supply below that which is necessary to carry on current levels of trade, and the results are catastrophic.
For an example, we need only look at Canada's depression of the early 1930's.---------------------------------------------------------------
nick,
this quoted article is exactly what i'm talking about, same as wikipedia, it implies money is created by printing, when in fact it is not, it is created as debt, NEW LOANS = NEW MONEY. Fraction reserve banking means $8 deposited in the federal reserve allows a bank to "create" $100 as loan/debt, but the $8stays there; do you get it? the bank isn't allowed to borrow your deposits, it has to create borrow/loan/debt misnomer. i don't even think the bank tellers get it.
thanks for the reply, glad to see your thinking about it.
you must see this 45minute video:
so please respond; how do you feel about the point i tried to make, IS IT RIGHT THAT BANKS CREATE MONEY AS DEBT, AND ALL THE LIES WE HEAR ABOUT HOW IT'S CREATED ON THE PRINTING PRESS`
Why draft monetary currency reform legislation with little chance of enactment under the present circumstances with a corrupt congress?
It is worth drafting & constructing radical changes with an ideal goal, so that incremental changes can be judged by whether they move the institutional currency structure toward or away from that ideal; if a crisis requiring or facilitating radical change does arise, alternatives will be available that have been carefully developed and fully explored.
~
Subject: Reply toThe M3; wikapedia; and the truth about the lie
Wow! First of all Wikipedia is not a great source for
> any
> information. I could easily create an entry as could you.
> It is
> essentially an open source reference created by any person
> with access to
> the net. The ONLY time incorrect information is corrected
> is when someone
> complains. AND it tool a law suit to create a process in
> which corrections
> could made.
>
> Anyway, it all started with Bretton Woods.
>
>
> http://economics.about.com/od/foreigntrade/a/bretton_woods.htm
>
> But in 1971 Nixon (GOP) took the US, and essentially
> the world off the
> "gold standard" because he was mad at DeGaulle
> (France), who was buying all
> the gold they could get their hands on. Nixon used a
> legitamate excuse to
> remove controls and deregulate most of the financial
> regulatory systems in
> the US banking system.
>
> Then some moron named Jimmy Carter become president in
> 1976 and through
> some fault, but not all, of Carter and the Democrats the US
> experienced
> inflation rates of double digits, record unemployment, and
> an impending
> world wide stock market major decline.
>
> Getting back to the point Reagan came along and used a
> legitimate
> problem to deregulate the banking industry even more than
> Nixon had. His
> vice president was someone named Bush.
>
> This is what happened next
>
> http://rationalrevolution.net/war/bush_family_and_the_s.htm
>
> After Clinton tried to clean things up, and reduced the
> damn federal
> deficit to an actual surplus the country elected another
> Bush.
>
> http://zfacts.com/p/318.html
>
> The GOP used to always say all the Democrats do is tax
> and spend. At
> least the don't BORROW and spend!
>
> One more thing. The "creation of money" is
> usually a good thing.
>
> http://www.justiceplus.org/creating.htm
>
> The real problem is the rich run the GOP and they have
> been burning our
> asses for at least fifty years. Reagan used to talk about
> "trickle down"
> economics. If the rich get richer, it will trickle down to
> the middle class
> and the poor. The only time I ever heard about that
> happening is Buffet and
> Gates.
>
> http://money.cnn.com/2006/06/25/magazines/fortune/charity1.fortune/index.htm
>
The M3; wikapedia; and the truth about the lie
>
>
>
> CRITIQUE of info taken from wikapedia;
> Fractional-reserve banking is a banking practice in which
> banks are required
> to keep only a fraction of their [deposits] in reserve with
> the choice of
> [lending] out the remainder
> http://en.wikipedia.org/wiki/Fractional_reserve_banking#Money_creation
>
> LIES 1; USE OF WORD [deposits]INCLUDES LOANS, MISLEADING
> 2; BANKS DON'T LOAN[lending] DEPOSITS. AS THIS ARTICLE
> GOES ON TO- LIE 3;
> USE OF WORD [funded] SHOULD BE CREATED.
>
> Money creation
>
> The process of fractional-reserve banking has a cumulative
> effect of money
> creation by banks.[4] In short, there are two types of
> money in a
> fractional-reserve banking system:[5][6]
>
> 1. central bank money (physical currency such as coins
> and paper money)
> 2. commercial bank money (money created through loans) -
> sometimes
> referred to as checkbook money[7]
>
> When a loan is [funded] with central bank money, new
> commercial bank money
> is created. As a loan is paid back, the commercial bank
> money disappears
> from existence.
>
> LIE 4; BANK MONEY ISN'T DISSAPPEARING, INFACT THE MONEY
> SUPPLY {M3} IS
> GROWING @18% CURRENTLY, ACCORDING TO RON PAUL. THEN THEY
> COME OUT WITH THE
> TRUTH THAT LOAN MONEY ISN'T LENT, BUT CREATED, AND
> OBSCURE IT WITH A COMA;
> Although no new money was physically created in addition to
> the initial $100
> deposit, [[[new commercial bank money is created through
> loans.]]]
>
> PLEASE REPLY W/ IDEAS; ALL BANKS OUT OF BUSINESS,
> GOVERNMENT BANKS W/
> TEXTBOOK AUDITS INSTEAD, OPERATE W/O INTEREST.
>
> Why draft monetary currency reform legislation with little
> chance of
> enactment under the present circumstances with a corrupt
> congress?
>
> It is worth drafting & constructing radical changes
> with an ideal goal, so
> that incremental changes can be judged by whether they move
> the
> institutional currency structure toward or away from that
> ideal; if a crisis
> requiring or facilitating radical change does arise,
> alternatives will be
> available that have been carefully developed and fully
> explored.
> ~Jason
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