Banker/Wall Street Governance

[margrace]

Polynewbie, you are arguing against a conservative party hack. It is his responsibility to negate everything you post and prove that you are a communist type person. So don't get involved in his negativity that is what he wants.

[Riverwind]

Thats why most of what you say is dead wrong.

Once again, your arguments have been shredded and you attempt to avoid admitting that you are wrong by evading the issue.

Why don't you answer the question: where else can money be? It is pretty obvious to most people that money can only be in two places: in a bank account collecting interest or in cash stored somewhere. That is why banks have to either pay interest on every cent that they create or they have to provide real currency to cover the loans.

Anyone who wants to understand banking must understand this. That is why banks do not make a profit by creating/loaning money. They only make a profit on the difference between what they make on the loan and what they charge in interest.

Incidently, how do you know how much I have read about economics? I have made it clear that making unprovable claims about credentials or knowledge on an Internet forum is a waste of time and means nothing so I make no claims and post arguments that are self explanatory. You, OTOH, think that you can convince others with nothing more than a claim of superior knowledge.

[Albert Opstad Edmonton]

Riverwind: You have written many more works about economics on this thread than you have read about the topic. Thats why most of what you say is dead wrong. You are also unbelieveably arrogant because you seem to think that you and your reasoning is smarter than me and my books. Any intelligent person that writes about anything has read far more than he has written. Its a litimus test that proves you to be a fool.

PolyNewbie: I am strongly for money reform in Canada, and so I've started a new title named Money Reform for Canada and I encourage you and others to comment under that title. Thank you.

[M.Dancer]

Cause two tin foil hats are better than one....

[Albert Opstad Edmonton]

Nothing that I have quoted is contradictory to what is said on the above link or the Federal Reserve website.

They tell you the truth - just not the whole truth.

Another great source of info is the UK Reformer website, British Association for Monetary Reform

They also have a reform party. The Brits are much further along in this than US or Canada and have many websites devoted to this topic along with many very simple books written by economists.

I sent the British Association for Monetary Reform an email asking them for their direct email address.

[PolyNewbie]

Congressman Ron Paul talks about the Federal Reserve

[White Doors]

You just posted that a couple of pages back.

Are you running out of ideas?

[PolyNewbie]

That was a different speech. The one above talks specifically about the Federal Reserve.

[PolyNewbie]

Excellent One Page Explanation Of Banking In Canada

[Riverwind]

More BS on Banking From Poly

http://www.cra-arc.gc.ca/newsroom/myths/menu-e.html#m1

Myth # 1

Federal income tax is unconstitutional and you can therefore refuse to pay income tax to the federal government, as confirmed by the Supreme Court of Canada in a decision in 1950.

The Facts

This myth is based on the faulty argument that the Canadian Constitution gives the power of direct taxation exclusively to the provinces. Section 91 of the Constitution says the federal government can raise money "by any mode or system of taxation." Section 92 says the provinces can impose "direct taxes within a province" to raise revenue for provincial purposes. As a result, while federal and provincial taxing powers overlap, the federal government can levy both indirect and direct taxes, including income tax.

The analogy about the banker 'loaning' money to the islanders is also completely wrong because:

1) Bankers cannot create hard currency in Canada - only the Bank of Canada does;

2) Bankers cannot lend money unless someone has deposited cash in the bank - if no one gives them cash they cannot create loans;