Never doubt that a small group of thoughtful, committed, citizens can change the world. Indeed, it is the only thing that ever has.
-Margaret Mead
Who and how should be money created?
What should be in essence?
Let's find it out together!
#capitalism
The above ‘banker’s privilege’, recently admitted to by the Bank of England and subsequently affirmed by the Riksbank (Sweden’s central bank) and the Swiss National bank is all that is needed to correctly understand what money is in the current system — principal debt
to a bank. Central bank reserves
are principal debt to the central
bank. “Money” is principal debt to
a commercial bank.
-Paul Grignon
“All of the perplexities, confusion, and distress in America arises, not from the defects of the Constitution or Confederation, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation.”
John Adams
"This is a staggering thought. We are completely dependent on the Commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money, we are prosperous; if not, we starve. We are,absolutely, without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is."
~ Robert H. Hemphill, Credit Manager, Federal Reserve Bank
Perpetual Debt
"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance."
James Madison, fourth president of the United States
"I sincerely believe that banking institutions are more dangerous to our liberties than standing armies. The issuing power should be taken from the banks and restored to the people to whom it properly belongs."
-Thomas Jefferson
How is it possible that a private corporation, called the Central Bank, is issuing the world's money just using a sort of Ponzi scheme and debt? Wow, this world never stops amusing me.
Fractional reserve banking is a system (current one) in which banks (and credit unions) keep a portion of their customers’ money in bank accounts — called deposits — and can use the rest to make loans, and to a lesser extent, investments.
f you deposit $1,000 into a savings account and the bank keeps 10% in reserves, your bank holds onto $100 and lends out $900 to another customer.
Fractional reserve banking allows banks to essentially create money in the economy.
Quote: James Garfield - 20th U.S President
"Whosoever controls the volume of money in any country is absolute master of all industry and commerce... And when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate."
Who controls the volume of money in any country?
Yep, Central Banks.
What's money in reality? How is even created and who creates it?
We tend to take daily stuff for granted.
No Debt, No Money
Have you ever wondered how everyone — governments, corporations, small businesses, families can all be in debt at the same time and for such astronomical amounts? Have you ever questioned how there can be that much money out there to lend? Now you know. There isn’t. Banks do not lend money. They simply create it from debt.
"That is what our money system is. If there were no debts in our money system, there wouldn’t be any money."
-Marriner S. Eccles
Quote: Reginald McKenna, as Chairman of the Midland Bank, addressing stockholders in 1924
I am afraid the ordinary citizen will not like to be told that the banks can and do create money. And they who control the credit of the nation direct the policy of Governments and hold in the hollow of their hand the destiny of the people.