Banker/Wall Street Governance

[Charles Anthony]

Any fiat currency system depends on belief

I think we have found the problem but we can avoid it for now.

- deposit insurance is an essential part of that belief system.

Now, I want to know: is the tax-payer funded insurance the ONLY method of insurance that can do it?

[Riverwind]

- deposit insurance is an essential part of that belief system.

Now, I want to know: is the tax-payer funded insurance the ONLY method of insurance that can do it?

The CDIC charges premiums to banks like any other insurance company. The gov't only gets involved id a major bank failure occurred.

http://www.cdic.ca/index.cfm/ci_id/1376/la_id/1.htm

[Charles Anthony]

The gov't only gets involved id a major bank failure occurred.

You are not answering my question. You are not providing a reason why the tax-payer should be obligated.

[geoffrey]

The gov't only gets involved id a major bank failure occurred.

You are not answering my question. You are not providing a reason why the tax-payer should be obligated.

Like anything tax-payer funded... it's in the public interest to have solvent banks.

[PolyNewbie]

geoffrey:I'm a finance and accounting major. I know how banking works, my current contract has me valuing commerical paper issues as well as some work on the valuation of bonds. This can't be done without knowledge of the banking system.

Have you ever read a book about banking ? Have you ever read about the history of money ? Do you know what "fraction reserve banking" means ?

Sometimes I think I am in a stupid contest on this forum.

[Charles Anthony]

Sometimes I think I am in a stupid contest on this forum.

I am going to win.

Like anything tax-payer funded... it's in the public interest to have solvent banks.

You have won me over with that argument. That sounds like a good enough reason to have the tax-payer protect the fiat currency banks.

Since it is the public's interest to have good quality footware at rock-bottom prices, I propose a tax-payer funded national footware subsidy. Furthermore, in the event that a footware manufacturer or distributor or retailer or cobbler should undergo financial hardship, the tax-payer should be required to bail them out. We would not want to see Canadians going barefoot, now, would we? Imagine what that would do to the economy!

[PolyNewbie]

The fact the geoffrey doesn't know anything about banking is probably more of a reflection of our UNESCO sponsored education system. Every textbook gets checked over by them. The stated reason is that they want everyone on the same page. The obvious fact, given geoffreys knowledge about banking is that they do this to control information. There is lots of historical information on various aspects of old societies except for the monetary viewpoint of history. It doesn't get much attention at all and I would suspect that very few recently educated people in the finance disciplines know about how banking actually works.

There is much reason to take a monetary view of history. Its easy to see why banks would want to keep some aspects of their operations hidden and given the power they actually have its easy to see how they can exert that much control. We live in a banker controlled society. They control how many hours you will work, what you learn in school, how much tax you will pay, what you see on the media (all major media now), the government we have, economic conditions and foreign policy. We have wars because bankers want wars.

I learned that there was much more to learn than what they were teaching us in school about monetary issues while I was in school. I first learned about The Creature From Jekyll Iskland from an economics professor but he could not teach the details about banking during class and suggested I read further when I asked him after class about where money comes from.

Every US president that had an attempted or successful asssasination was a president that began to talk about monetary reform. Jackson has "I Killed The Banks" on his tombstone. All of the recent wars have been financed on both sides by private banks with them handling the financing of the reconstruction effort after the war and after a corrupt government is put into power. Our view of the establishment is a banker owned media created illusion. Our views on economics are also media/UNESCO determined.

Bankers own government, government owns corporations (80 % stock in Microsoft), corporations control us.

[PolyNewbie]

People are going to start getting angry as they learn about the truth in things. The US has recently tried to pass legislation that demanded anyone with contact with more than 500 persons regarding political matters register with the White House and report to them quarterly. There is a legislative assault going on wrt freedom of speech to curtail the pulics trust from turning to alternative media.

We are becomming a police state so that this dissent can be controlled. The economy is being collapsed and looted so that we give up economic control of our lives. We are in the middle of a banker controlled revolution that isn't being televised and that will make us a completely controlled bolchevic police state dependent on government for everything. The war on terror is just an excuse to do the same thing with other countries as well as here - create a more controlled society that works harder for less.

What is happening now in North America was happening in Germany before world war 2. The economics, laws and military actions all parallel according to many experts.

[PolyNewbie]

Much of this is explained in Guns & Butter / 9/11 in Context: The Strategy of Tension Gone Global (audio/free) This is a recent show discussing globalism and its goals. This is very scary stuff but it is repeated in various forms all over if you look - including mainstream.

[Riverwind]

The obvious fact, given geoffreys knowledge about banking is that they do this to control information. There is lots of historical information on various aspects of old societies except for the monetary viewpoint of history.

Poly stop wasting bandwidth with your ridulous and unsubstantiated claims. Geoffery's explaination is coherent and consistent which makes it superior to anything you have offered to date.

If you think he is wrong then address specific errors in his posts. General rants about how 'he does not know anything' simply cements your reputation as a clueless fanatic who could not argue your way out of a wet paper bag.

[PolyNewbie]

Riverwind:If you think he is wrong then address specific errors in his posts. General rants about how 'he does not know anything' simply cements your reputation as a clueless fanatic who could not argue your way out of a wet paper bag.

I keep asking you this simple question and you will not answer it but you keep acting as if you are some kind of expert, now, really, what books have you read on banking ? Where do you get your information ?

[kimmy]

UNESCO is in charge of our education system?

-k

[August1991]

I'll drop this in here. It's as funny as the Unesco remark:

PolyNewbie, just out of curiousity, are you referring to real or nominal interest rates here?

I'm not getting that technical. I don't know the difference between the two- and its not relevant. Look at the big picture here.

[PolyNewbie]

kimmy:UNESCO is in charge of our education system?

All textbooks go through UNESCO for approval.

[M.Dancer]

kimmy:UNESCO is in charge of our education system?

All textbooks go through UNESCO for approval.

[Riverwind]

I keep asking you this simple question and you will not answer it but you keep acting as if you are some kind of expert, now, really, what books have you read on banking ? Where do you get your information ?

You always do this when you are losing an argument - declare yourself an expert and try to dismiss all critics as ignorant. Last time I checked this is a discussion forum which mean people are supposed to debate issues. That means if someone posts a rational and logical explaination that demonstrates why you are wrong then you should be responding with a equally rational and logical counter argument. The fact that you always avoid responding to these arguments and resort to claims of superior 'expertise' simply demonstrates how little you know about the topics and arguments that you present.

[PolyNewbie]

Riverwind:You always do this when you are losing an argument - declare yourself an expert and try to dismiss all critics as ignorant. Last time I checked this is a discussion forum which mean people are supposed to debate issues. That means if someone posts a rational and logical explaination that demonstrates why you are wrong then you should be responding with a equally rational and logical counter argument.

My counter arguement is that you are always wrong and you never know what you are talking about and you are always passing yourself off as some kind of expert. So I am wondering where you got your knowledge of how banks work.

Everything I have said is factually true.

[Riverwind]

My counter arguement is that you are always wrong and you never know what you are talking about and you are always passing yourself off as some kind of expert. So I am wondering where you got your knowledge of how banks work.

Evade, evade. You don't have a counter argument and you know it.

Everything I have said is factually true.

Banks don't create money for free and have to pay interest on every cent because banks may only lend money that they have received from depositors. That statement is not only true it also quite rational. If you disagree then please point us to the relevant sections of the banking act that give banks the power to create money from nothing. Pointing us to books by deluded economists means nothing when there are so many other sources that say exactly the opposite.

[geoffrey]

geoffrey:I'm a finance and accounting major. I know how banking works, my current contract has me valuing commerical paper issues as well as some work on the valuation of bonds. This can't be done without knowledge of the banking system.

Have you ever read a book about banking ? Have you ever read about the history of money ? Do you know what "fraction reserve banking" means ?

No, in fact I got through the first 3 years of a finance based education studying playdough and how it interacts with water!

Like anything tax-payer funded... it's in the public interest to have solvent banks.

You have won me over with that argument. That sounds like a good enough reason to have the tax-payer protect the fiat currency banks.

Hey, I'm just telling you why. Not supporting it. There are other ways we could do it... a private insurance structure perhaps. But any other way results in less confidence in banking.

[PolyNewbie]

geoffrey:No, in fact I got through the first 3 years of a finance based education studying playdough and how it interacts with water!

So in other words you didn't take a single course on banking - because none are taught !

Larry MacDonald did a study on the Federal Reserve in the 70's showing who the owners are. They are the Rothschilds, Rockefellers, Strongs, etc - same group that started the Fed.

Why don't you ask an economics professor at your school about what I am telling you ? I'm sure he or she will verfiy that it is all true.

[PolyNewbie]

Riverwind:Banks don't create money for free and have to pay interest on every cent because banks may only lend money that they have received from depositors.

Once again, have you ever read a book about banking or are you just pulling that out of your a$$ because you think it should be that way ?

How can you be so arrogant as to argue a subject that you have absolutely no knowledge about ?

That statement is not only true it also quite rational.

Actually it isn't. In systems where they can only lend what they have interest rates are around 30 %.

If you disagree then please point us to the relevant sections of the banking act that give banks the power to create money from nothing. Pointing us to books by deluded economists means nothing when there are so many other sources that say exactly the opposite.

Name one source anywhere that says banks can only lend what they have on deposit.

I've given you lists of references, - books, videos, websites, etc. I would like to know of a single source that supports your viewpoints. I would also suggest you look up "fractional reserve banking" and learn what that means. Fractional Reserve Banking means exactly that bankers create money.

I've never heard anyone refer to JK Galbraith as aa deluded economist. You must really have an u8nbeklievablely high opinion of yourself. I think you can get medication for that. Your level of arrogance combined with your purposeful ignorance is rare.

[PolyNewbie]

Why don't some of you posters on this thread read something about banking ? Perhaps you could ask an economics professor if what I am saying is correct.

Its better to post on topics for which you are somewhat informed. When you just pull arguemnts out of your a$$ then it makes the forum look bad and it makes you look stupid.

Most people and all people in crowds do not behave rationally. Most of the world is not rational. Grow up.

[geoffrey]

geoffrey:No, in fact I got through the first 3 years of a finance based education studying playdough and how it interacts with water!

So in other words you didn't take a single course on banking - because none are taught !

Larry MacDonald did a study on the Federal Reserve in the 70's showing who the owners are. They are the Rothschilds, Rockefellers, Strongs, etc - same group that started the Fed.

Why don't you ask an economics professor at your school about what I am telling you ? I'm sure he or she will verfiy that it is all true.

I've taken 3 senior courses on the economics side of banking and 5 on the finance side... so how banks set inter bank lending rates, deposit management at the bank and corporate level, the other 3 were on basically how to borrow money from various lenders.

I know what I'm talking about. You have a little bit of knowledge on this, and it's causing you much grief. Start reading non-conspiracy books and you might have a clue eventually. I've already explained how it works, you just categorically deny everytning I say because you've read a book written by a wack job or some random documentary that doesn't even give production credits.

[Riverwind]

I've given you lists of references, - books, videos, websites, etc. I would like to know of a single source that supports your viewpoints. I would also suggest you look up "fractional reserve banking" and learn what that means. Fractional Reserve Banking means exactly that bankers create money.

Fractional reserve banking lets banks lend out a percentage of their deposits. For example, if the reserve requirement is 10% the a bank with total deposits of $1000 can lend out, at most, $900. Banks cannot lend more than their total deposits.

Now it is true that once the $900 is loaned it may be deposited into a bank again. This would allow a bank to loan another $810 since its total deposits have increased. However, the bank has to pay interest on all deposits so even though it may sound like same money is being loaned more than once it still costs the bank money each time it is deposited into the bank.

I realize that many sources on the internet have over simplifed the process and talk about what would happen if the same bank loaned, deposited and reloaned the same money several times. This would create the illusion that the bank has created $10000, however, that description is an oversimplification that hides the $11000 deposits that must back up the $10000 in loans.

Futhermore, the sources that you read fail to distiguish between the rules that apply to a central bank and the rules that apply to a private bank. The BOC can create money without incurring any costs. However, the BOC is the only bank that can do that.

[PolyNewbie]

Riverwind:Fractional reserve banking lets banks lend out a percentage of their deposits. For example, if the reserve requirement is 10% the a bank with total deposits of $1000 can lend out, at most, $900. Banks cannot lend more than their total deposits.

Where did you learn about banking ? Is there any reason why someone should not believe that you are just pulling this out of your a$$ ?

Geoffrey:I know what I'm talking about. You have a little bit of knowledge on this, and it's causing you much grief. Start reading non-conspiracy books and you might have a clue eventually.

First of all you don't know what you are talking about wrt money creation. You should read JK Galbraiths book called "Money". He will tell you how the banks create money. Friedman also has a book out on it and he will tell you the same thing.

Ask one of your economics professors if banks create money.

BTW If banks don't create money, who does ?