Money as debt

[jewbird]

Although the notion of Illuminatist banking cabal enslaving the world from the City of London is certainly distasteful, there is something to be said for the notion of money as debt, in theory. For every credit, there is a debt. Money is simply an instrument to settle accounts and payment and collection of interest is a useful mechanism to ensure that accounts are settled promptly.

Muslim societies forbid it, but there's the notion of time value of money. Time should be considered a limited good that has economic value. If not, people will always be lazy and put things off until they're slapped with a $29 late payment fee. That goes straight into the pockets of Jewish bankers, but the Jewish bankers also have overhead in evaluating credit risk and dealing with defaults and they do pay people to deal with all that.

And although the tendency is for wealth to accumulate into a few hands, that is capitalism. You need a hell of a lot of capital accumulated into a few hands to design and create a computer or a car or cell phone or pretty much anything that doesn't come out of the ground. Perhaps oil companies make too much money for what they do, but oil has been pretty flat, price-wise. Gas prices are high apparently due to refining capacity. And that will require capital to fix. Even oil needs to be located.

What we do have that's a problem is poverty. If population expands faster than the money supply or the money supply increases faster than production of real goods and services or people borrow to consume, yes, that's a problem. I don't know what people hope or expect to be able to do about that, but capital is flowing to accelerate growth in some of the world's poorest nations.

[j3aN62]

sam said:

And although the tendency is for wealth to accumulate into a few hands, that is capitalism.

Privatization of the central banks were not done playing the rules. It was done illegally, from what I have read.

[jewbird]

If you read your Protocols of the Elders of Zion, you will discover that law is merely a codification of the dictates of the power structure.

[j3aN62]

Tricky, but I'm not satisfied with this kind of answer. The constitution got citizen approval because it was fair in essence. From what I remember of my net reading : privatization of the feds and al, was POSTERIOR to the constitution of late 18th century.

[0]

sam said:

If you read your Protocols of the Elders of Zion, you will discover that law is merely a codification of the dictates of the power structure.

I can't believe you are quoting that discredited document.
en.wikipedia.org/wiki/Protocols_of_elder_zion


And here's a supporter of the Protocols - David Icke. Who also believes that the British Royal family are really reptillian humanoids
en.wikipedia.org/wiki/David_Icke

[j3aN62]

Okay, I'm recalling what I read : the average American was getting too rich, because of the fair banking system. Therefore the euro bankers set in, and got the central banks privatized early 20th. So that was it, the american people were enslaved like the rest of the world.

[jewbird]

said:

sam said:

If you read your Protocols of the Elders of Zion, you will discover that law is merely a codification of the dictates of the power structure.

I can't believe you are quoting that discredited document.
en.wikipedia.org/wiki/Protocols_of_elder_zion


And here's a supporter of the Protocols - David Icke. Who also believes that the British Royal family are really reptillian humanoids
en.wikipedia.org/wiki/David_Icke

Discredited? Did whoever wrote the wiki even read them? Attacking the source doesn't defeat ideas. And plagiarism of ideas means the ideas are good.

[jewbird]

jean62 said:

Okay, I'm recalling what I read : the average American was getting too rich, because of the fair banking system. Therefore the euro bankers set in, and got the central banks privatized early 20th. So that was it, the american people were enslaved like the rest of the world.

It's difficult to say. Supposing central banks were in public hands, would there not be politicial incentive to meddle as opposed to mere greed? The danger from the former is certainly every bit as threatening as that from the latter, if not more.

[j3aN62]

Seeing how public money is spent, yes maybe. Since also the average IQ in power, no good either. I've found out how low IQs in command result in lots of problems.
But I'm really doubful about the bankers intelligence beyond trying to keep the power.

[rolls]

Its the job of the central bank to keep the money market in equilibrium i.e. money supply=money demand So i cant really see this scenario occuring unless there is an inept central bank and commercial banks. If someone defaults on a loan the bank should just write it off as a loss instead of injecting more money into it.

Plus with inflation the real value of debt should not really be increasing i dont think even though in nominal terms it is. Overall if everything is in equilibrium i.e. goods market and money market then everything is stable and sustainable.

I suppose the situation the documentary would kind of describe is Japan. Whereby many companies defaulted on their loans after collapse of the nikkei and land prices that were used as collateral. Bank managers were unwilling to write off the loans and lent them more money on the off chance they could recover and then all the other problems of deflation etc. But essentially it was all caused by the central bank not being quick enough to cut rates and the poor banking system. But Japan is recovering now and posting some encouraging statistics due to various banking reforms, fiscal and monetary policies.

[jewbird]

jean62 said:

Seeing how public money is spent, yes maybe. Since also the average IQ in power, no good either. I've found out how low IQs in command result in lots of problems.
But I'm really doubful about the bankers intelligence beyond trying to keep the power.

I know how you feel, Jean. Maybe keeping power is smart enough for them? I mean, if you were dictator, how would things better?

[j3aN62]

Okay let's start a santa claus list. ;D Dear illuminati, could you please stop the gm crops, the electromagnetic pollution, the depleted uranium (too late I know), etc.

[jewbird]

No one pays a girl to retain her virtue, Jean.

[jewbird]

klacoste said:

Debt crisis forces mass super raid

A record 16,500 individuals applied for early access to their superannuation accounts last year, with 13,871 applications approved by the Australian Prudential Regulation Authority.

This was more than double the number of applications approved in 2001 — reflecting an explosion in the number of severe financial hardship cases despite record employment.

Other signs of the looming debt crisis are emerging. According to Insolvency and Trustee Service Australia, personal bankruptcies rose by 8.9 per cent in the March quarter from the December quarter, with 6585 new bankruptcies declared — almost 30,000 over the past year.

And Part IX new debt agreements in the March quarter were 28.7 per cent higher than in the same period last year.

Total personal insolvency activity for the year to date has increased by 16 per cent.

Reserve Bank figures show that a record 12 per cent of families' disposable income goes on interest payments. That's up from just 6.9 per cent five years ago.

Why is debt continuing to spiral despite low unemployment and continuous economic growth?

Debt DRIVES economic growth because people are spending money. Presumably finance charges are added to GDP as well.

Low unemployment doesn't necessarily mean that people are making enough money to live. I don't know about Australia, but in America it doesn't even mean people necessarily have jobs.

[chinesejewfool]

Massive foreclosure rates in the whole Central Valley of Cali.

People speculated prices would continue to skyrocket, but they've dipped down low big time and many are going BK.