My more creative blog.
Quote from Richard Werner above (0:43) – my complementary comments in parenthesis:
-”Its (the banks) record (on your account) of what it owes you is what you think you are getting as money”
I had a discussion on youtube and I will reuse the text from that discussion. My English is a bit rusty so please feel free to point out spelling and/or grammar errors.
Professor Richard Werner explains how banks invent fictitious deposits. Werner also calls this behavior ”misleading” – fraud would be a more accurate phrase.
Bank don’t lend money, just as Werner also points out. Banks lend to your account and your account is only a notation of the banks debt to you, just as Werner say. So the bank can’t lend currency (i.e dollar in US), that is to say money, to customers accounts, since your account can’t contain dollars.
So banks don’t create money, that is to say dollars, when they ”lend”. They invent their own debt and make you believe that your account contains dollar.
In order to understand this:
Let’s first make it perfectly clear that the account can’t contain currency – let say US dollar
Say you found 50 000 dollar in a bag under your dead aunts mattress. You take the bag to the bank and make a deposit. The bank put the dollar bills (hence the currency) in their vault and make a notation on your account that the bank now owes you 50 000 dollar. So your account is only a notation of how much currency (dollars) the bank owes you. Your account can’t hold dollars (they are now in the vault)
This is what the bank do in reality when it ”lend”:
When a bank make what they call a ”loan” they simply pretend that the ”borrower” has made a deposit. In reality the bank do as Werner explains – the bank create a fictitious deposit by pretending that the ”loan contract” (Werner calls it a ”promissory note”, hence an IOU) is a deposit. The ”borrower” is then lead to believe that his account can contain dollars (hence currency)
Calling it a loan is hence basically a lie. The bank create two IOU:s on the same amount of dollar that never exist (provided you live in USA). The bank put one IOU i.e the ”loan contract” (again it´s a total lie calling it a loan) on the banks asset side of its balance sheet. The bank then put the other IOU on its liability side – that is to say on your account.
So we have now beyond any doubts proven that your account can´t hold a single dollar since it, by definition, only can contain a notion (IOU) of how many dollar the bank owes you. In other words – the bank personal is lying when he/she tells you:
-”The 500 000 dollar you borrowed to buy your house has been transferred to your account”
The bank personal is probably not even aware of that the above sentence at least contain four lies
Lie 1) Your account can´t contain dollar – your account is only a IOU notation telling how many dollar the bank OWES YOU
Lie 2) Nothings has been ”transferred” – the bank invented the numbers on your account from nothing
Lie 3) Your account can only show what the banks owe you – i.e what the bank has borrowed from you
Lie 4) You haven´t actually bought the house – you are renting it from the bank
The banks jack up the house prices as middle men, making the bidders bid for their own slavery to the bank . Calling it a ”market” is hence a total travesty. It’s more accurate to call it a reverse slave auction where the bidders bid over each other in order to be a slave to the bank.
Har sammanställt en bok om penningsystemet som en pdf av diverse blogginlägg. Jag har försökt hålla det så enkelt som möjligt med maximalt med illustrationer. Men det finns saker som kan förbättras och kanske läggas till. Jag ville göra den kort och enkel men kom gärna med förslag på förbättringar.
Två länkar där jag laddat upp pdf-filen har plockats bort på kort tid så jag ska göra en ny och ladda upp. Här är en länk till bloggsidan med samma innehåll i väntan på pdf-filen:
Den här en annan av mina bloggsidor som tar upp samma sak med en lite annan vinkling
Här är annat grundläggande kring bankernas pyramidspelsbyggande kasinoverksamhet och bedrägeri.