Banking - the greatest scam on earth?

[Mr Z]

meh, people can hoard gold if they want, or silver or whatever the hell picks there fancy if they think it will honestly save them in some financial/societal collapse. Because Im trained in weaponry and im bad enough to use it to get anything i'll ever need

Yeah.... but I can hire a bigger A hole

 

[wayneL]

meh, people can hoard gold if they want, or silver or whatever the hell picks there fancy if they think it will honestly save them in some financial/societal collapse. Because Im trained in weaponry and im bad enough to use it to get anything i'll ever need

So Kalashnikovs are money? ::

 

[Mr Z]

So Kalashnikovs are money? ::

They have some limitations but hey cigarettes served as money in war time prison camps so given the right circumstance ya never know!

 

[tothemax6]

No it's not money. It may be an asset depending on your credit rating, but it's not legal tender, and it would be worth much less than $20.00.

Yeah I know that, and I know you know that, but starcraft doesn't accept this. By his own claims, he believes that a debt instrument is money, as opposed to a debt of money, and thus banks 'create money', and since 'creating money is evil', banks are evil.

You still there Starcraft? Have you realized the error of your ways, or are you going to answer my IOU $20 question?

 

[FxTrader]

... and thus banks 'create money', and since 'creating money is evil', banks are evil.

Central banks do in fact "create money" to pay debt. Such money creation in turn creates inflation and erodes the purchasing power of the 99% while progressing us further down the road to serfdom. Is it evil, well not to those who benefit from this folly and that would include banks and other institutions who have successfully socialized their losses but retained their profits and executive bonuses.

 

[Tysonboss1]

OK lets suppose the monetary system collapses and I dig up my Krugs because I need to go to the shop to by a loaf of bread, a bottle of woobla and a 30-30 to guard my gold with now that the cat is out of the bag that I have a cache; the Krug I smuggly flip out of my pocket is now worth $37k but the items add up to only $3000 (30-30s now selling at a huge premium : )

How does that work?

The shop keeper will write you an IOU for the difference. It's money isn't it.

 

[tothemax6]

Central banks do in fact "create money" to pay debt.

Central banks are an entirely different animal. Banks and central banks are very different. I prefer to think of central banks as 'ridiculous' than evil, they simply shouldn't exist. The bailouts, on the other hand, were outright evil, I agree. I am of the opinion that there should be a general hearing of all politicians and businessmen who were involved (including Fed officials), conducted by the US supreme court, and most should end up in jail for a long time. Alas, justice is a faint dream.

 

[Aussiejeff]

Central banks are an entirely different animal. Banks and central banks are very different. I prefer to think of central banks as 'ridiculous' than evil, they simply shouldn't exist. The bailouts, on the other hand, were outright evil, I agree. I am of the opinion that there should be a general hearing of all politicians and businessmen who were involved (including Fed officials), conducted by the US supreme court, and most should end up in jail for a long time. Alas, justice is a faint dream.

Until the raping of Billion$ of hard-earned lucre by FatCats self-declared "above the law" - from millions of lowly "serfs" - is declared a crime deserving the same sort of penalty a physical rapist now receives, "justice" shall never prevail.

I recall the French Revolution was one such rare period when the rarified "haves" were finally called to account by the hordes of "have nots". Twas all a bit messy though in the end....

Anyway, we know for sure that humankind NEVER learns from previous mistakes, so anything is possible. Even some sort of "justice". Just don't hold your breath for it....

 

[kavla1970]

Anyway, we know for sure that humankind NEVER learns from previous mistakes, so anything is possible. Even some sort of "justice". Just don't hold your breath for it....

What has happened is a crime that should be punished. The whole world is being held to ransom by a few elite bankers.

I knew that the US Federal Reserve was privately owned but when I found out that our Reserve Bank was also privately owned I nearly died.

 

[doctorj]

What has happened is a crime that should be punished. The whole world is being held to ransom by a few elite bankers.

Who exactly?

 

[Mr Z]

The shop keeper will write you an IOU for the difference. It's money isn't it.

To the extent that it is trusted.

People decide what money is in the end. Zimbabwe is a classic example of how the currency of the realm was shunned in preference for sounder monies, that place largely functioned on the trade of anything that was not the currency, despite the governments decrees.

Money is not defined by government, it is defined by communities --> that is the bottom line.

 

[Mr Z]

RBA Private --> WTF?

No!

1. What is the Reserve Bank of Australia and who owns it?

The Reserve Bank of Australia is Australia's central bank. Its role is set out in the Reserve Bank Act 1959. The Bank conducts the nation's monetary policy and issues its currency. It seeks to foster financial system stability and promotes the safety and efficiency of the payments system. It also offers banking services to government. The Bank is wholly owned by the Australian Government, but is not a government department. For more information see about the RBA.

Source...

 

[Tysonboss1]

Re: RBA Private --> WTF?

No!



Source...

What are you trying to say,

 

[Mr Z]

What are you trying to say,

If you are reading the thread it should be quite obvious which comment I am referring to. --->

What has happened is a crime that should be punished. The whole world is being held to ransom by a few elite bankers.

I knew that the US Federal Reserve was privately owned but when I found out that our Reserve Bank was also privately owned I nearly died.

As it turns out there is no need to endanger your life on this front, the RBA is indeed a government owned institution!

 

[kavla1970]

If you are reading the thread it should be quite obvious which comment I am referring to. --->



As it turns out there is no need to endanger your life on this front, the RBA is indeed a government owned institution!

Promise I won't jump.....I saw an article stating that the Reserve Bank is actually and "ADI" or foreign controlled company. I hope I am wrong...

http://www.youtube.com/watch?v=l8zyy9IlxGw

 

[kavla1970]

Who exactly?

Goldman Sachs, JP Morgan, IMF...The money trail in alot of these struggling economies lead to these guys it would seem.

 

[McLovin]

Promise I won't jump.....I saw an article stating that the Reserve Bank is actually and "ADI" or foreign controlled company. I hope I am wrong...

http://www.youtube.com/watch?v=l8zyy9IlxGw

An ADI is an "Authorised Deposit taking Institution". It has nothing to do with ownership. The RBA is not an ADI but is authorised seperately under the Reserve Bank Act to carry on a banking business.

 

[Mr Z]

​

 

[skyQuake]

http://www.youtube.com/watch?v=KSUJIlQ5EiE​

Haha beautiful! He hosts talking about your Generation now

 

[Mr Z]

Promise I won't jump.....I saw an article stating that the Reserve Bank is actually and "ADI" or foreign controlled company. I hope I am wrong...

http://www.youtube.com/watch?v=l8zyy9IlxGw

That dude is on drugs!