Debates
19 Jan 08
22 Jan 08
Originally posted by AThousandYoungI think this will be the biggest recession since the great depression. It will probably force thousands and thousands of people out of their homes. What many people fail to realise about money is it is not a representation of wealth, it is a representation of debt! Why do Governments borrow money from banks at interest when they could simply create it themselves? They have given the right to banks to create money. When you take out a loan, the bank does not loan you money it has, it creates new money out of thin air (well, i believe they are allowed to create something like 20 times the amount of money the actually possess). This means that 19 dollars in every 20 represents debt, not any real World value. Banks then charge interest on this and make vast profits for doing pretty much nothing. The general population then has to constantly speed up capital accumulation in order to keep up with repayments. Sooner or later the confidence in the market crashes. The banks never lose out though, if people fail to repay their debts, the bank acquires the assets which that loan was backed up with. They can lose pretty much all the money and it doesn't really affect them, they simply make less money on repayments. It is literally win/win for them, except when consumer confidence really crashes and people start taking their money out of the bank, then they are truely f***ed as they do not HAVE any of that money! 95% of the money in the economy literally doesn't exist!! It is a massive swindle and it's been going on for centuries! ðŸ˜
What do you think will happen?
http://video.google.co.uk/videoplay?docid=-9050474362583451279&q=money+debt&total=2175&start=0&num=10&so=0&type=search&plindex=0
22 Jan 08
Originally posted by Marinkatombgo off-grid ...
I think this will be the biggest recession since the great depression. It will probably force thousands and thousands of people out of their homes. What many people fail to realise about money is it is not a representation of wealth, it is a representation of debt! Why do Governments borrow money from banks at interest when they could simply create it th ...[text shortened]... ?docid=-9050474362583451279&q=money+debt&total=2175&start=0&num=10&so=0&type=search&plindex=0
www.motherearthnews.com
22 Jan 08
Originally posted by MarinkatombThe GD had a dust bowl didn't it?
I think this will be the biggest recession since the great depression. It will probably force thousands and thousands of people out of their homes. What many people fail to realise about money is it is not a representation of wealth, it is a representation of debt! Why do Governments borrow money from banks at interest when they could simply create it th ...[text shortened]... ?docid=-9050474362583451279&q=money+debt&total=2175&start=0&num=10&so=0&type=search&plindex=0
22 Jan 08
Originally posted by AThousandYoungDid you watch it? I'm not too familiar with the details of the great depression. I seem to remember something about dust bowls around that period but that was more to do with farming methods than the rudiments of how the banking system is fundamentally flawed.
The GD had a dust bowl didn't it?
Please watch the video i linked! It will put your governments debt into perspective. These endowment mortgages that so many people are now failing to repay is a VERY serious problem. The mainstream media is playing down the collosal nature of the problem as continued consumer confidence is so important. People have to continue incurring debt, if they stop taking out loans then there will not be enough new money to pay off the existing loans in existence (the system literally relies on exponential debt creation in order to work). I give it a year, two tops before we collectively crash. The UK has already had one run on the bank recently which the Government had to step in to back up. The potential is there for the system to completely collapse. Knowledge is power!