NOTE: It is glaringly apparent that Professor Mander is incapable of
carrying on
a rational discussion. This is illustrated by the following:
[EMAIL PROTECTED] Professor Jerry Mander writes:
"In my post of a few days ago I explained the creation of money in
a VERY simple example."
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
First of all professor, YOU didn't explain anything.
All you did was copy some information from the Indiana Purdue
University website and post it to this List.
It isn't YOUR explanation.
Next thing professor, if you click on through 3 or 4 more pages
on this same website, it directly confirms what I wrote in my previous post.
I wrote:
"THE FACT IS THAT NEARLY ALL OF WHAT IS DEFINED ABOVE
AS "MONEY" IS BORROWED INTO EXISTENCE!"
The university website of your choice states:
"The United States Monetary System is a Debt-Based system.
Most of our money supply is created through bank’s making loans."
The University website then goes on to say:
"The creation of money through loans does not create any wealth, but allows
banks to charge interest several times on the same bit of wealth."
Do you comprehend what is being said here professor?
It's as simple as 1,2,3.
1. "Money" is created when banks make loans of something that did not
exist until the moment the loan was made. In reality, the banks loan
some numbers entered into a computer.
2. This "creation of money" by banks does not create any wealth.
3. The banks are allowed to profit several times over even though they
create nothing but debt via bookkeeping entries.
What a fantastic fraud this is! The bank simply makes a few computer
entries. It costs the bank almost nothing to do this. No wealth is created
at this point. But the person who receives the loan must work and invest
time, effort, talent, and abilities to create something of real wealth in
order
to pay back the loan of nothing more than a bookkeeping entry.
The bank may make a bookkeeping entry (loan) in just a few minutes.
But the person who must pay back the loan may have to work hard for
years in order to pay this loan off.
This is absolutely the slickest "something for nothing" racket ever conceived!
But it gets even worse!
Another slight-of-hand fraud is stacked on top of the something for nothing
theft
just described. Through the black magic of "Fractional Reserve Banking",
banks are allowed to count loans (of nothing) as assets.
These "assets" are counted as ""reserve requirements".
The effect is that the banks are able to loan (create) many more "dollars"
into existence. Yes indeed professor.....as the University website states:
"The United States Monetary System is a Debt-Based system."
And another thing professor: The University website you quoted from
gives direct confirmation of something else I wrote.
"The “Fed” is a privately owned institution"
As usual professor, you ignore the facts. You also ignore the
reasonable questions which I, and others, have raised and put to you.
I specifically asked the following:
Since money is the lifeblood of a modern economy,
it follows that whoever or whatever has control over the money supply,
literally has life and death control over our national economy.
Please explain why a privately owned corporation of bankers should
have life and death control over the national economy of the United States?
You ignore this question because you have no rational answer.
You have only your opinions.....and they are non-informed opinions at that.
There is no point in continuing this discussion any further.
There is no sport in mentally dueling with an unarmed man.
Regards to All
Nakano
P.S. For anyone who cares to check out the Indiana-Purdue University
website mentioned above....here's the address.
http://www.ipfw.indiana.edu/nf1/bullion/web/Slides/Chap27/tsld020.htm >>
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