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Money as Debt - this is why there is a financial crisis

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posted on Mar, 27 2008 @ 10:03 PM

"By this means government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft." - Lord John Maynard Keynes, “Economic Consequences of Peace”

"The eyes of our citizens are not sufficiently open to the true cause of our distress. They ascribe them to everything but their true cause: the banking system... a system which if it could do good in any form is yet so certain of leading to abuse as to be utterly incompatible with the public safety and prosperity." - Thomas Jefferson

“The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented." - Major L.B.Angus

"Every circulating Federal Reserve Note represents in actuality a one dollar debt to the Federal Reserve system." - Money Facts, House Banking and Currency Committee

"Every Congressman, every Senator knows precisely what causes inflation...but can't, won't support the drastic reforms to repeal of the Federal Reserve Act because it could cost him his job." - Robert A. Heinlein, Expanded Universe

“Every effort has been made by the Federal Reserve Board to conceal its powers, but the truth is that the Federal Reserve System has usurped the government. It controls everything in congress and it controls all our foreign relations. It makes and breaks governments at will.” - Louis McFadden, Chairman of the House Committee on Banking and Currency

"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a moneyed aristocracy that has set the government at defiance. The issuing power of money should be taken away from the banks and restored to the people to whom it properly belongs." - Thomas Jefferson

“Our goal is gradually to absorb the wealth of the world.” - Cecil Rhodes, “The secret banking cabal”

“If all the bank loans were paid up, no one would have a bank deposit, and there would not be a dollar of currency or coin in circulation. This is a staggering thought. We are completely dependent on the commercial banks for our money. 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 upon the picture, the tragic absurdity of our hopeless position is almost incredible - but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it is widely understood and the defects remedied very soon.” - Robert H. Hemphill, Federal Reserve Bank of Atlanta

"Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States." - United States Senator Barry Goldwater

“Of course, banks do not really pay out loans from the money they receive as deposits. If they did this, no additional money would be created. What they do when they make loans is to accept promissory notes in exchange for credits to the borrowers' transaction accounts. Loans (assets) and deposits (liabilities) both rise by the same amount. - Chicago Federal Reserve booklet “Modern Money Mechanics”

posted on Mar, 27 2008 @ 10:05 PM
“The financial system has been turned over to the Federal Reserve Board. That board administers a finance system by authority of a purely profiteering group. That system is private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money. This (Federal Reserve) Act establishes the most gigantic trust on Earth. When the president signs this bill, the invisible governments by the monetary power will be legalized. The people may not know it immediately but the day of reckoning is only a few years removed, the worst legislatives crime of the ages perpetrated by this banking bill.” - Charles A. Lindbergh, Representative, MN

"Some people think the Federal Reserve Banks are the United States government's institutions. They are not government institutions. They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign swindlers." - Congressional Record 12595-12603 June 10, 1932

“The issue which has swept down the centuries and which will have to be fought sooner or later is the People vs. The Banks.” - Lord Acton, Lord Chief Justice of England, 1875

"The central bank is an institution of the most deadly hostility existing against the principles and form of our Constitution. I am an enemy to all banks discounting bills or notes for anything but coin. If the American people allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered." - Thomas Jefferson.

"The Federal Reserve banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the International bankers." - Congressman Louis T. McFadden

"The few who understand the system will be so interested in its profits, the rest so dependent on it's favors, that there will be no opposition from either class." - Rothschild Brothers of London, 1863

"The regional Federal Reserve banks are not government agencies. ...but are independent, privately owned and locally controlled corporations." - Lewis vs. United States, 680 F. 2d 1239 9th Circuit 1982

"The Federal Reserve is answerable to no one.” - Ronald Reagan

"You are a den of vipers and thieves. I intend to rout you out, and by the Eternal God, I will rout you out. If the American people only understood the rank injustice of our money and banking system, there would be a revolution before morning." - Andrew Jackson

"When you or I write a check there must be sufficient funds in our account to cover the check, but when the Federal Reserve writes a check there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money." - “Putting it Simply”, Boston Federal Reserve Bank

“Whoever controls the volume of money in our country is absolute master of all industry and commerce…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.” - James Garfield, 20th President Of U.S. Assassinated 1881

posted on Mar, 27 2008 @ 10:09 PM

Originally posted by superface
The greed of some people is so insane it makes me sick.

There's something that's boggling my mind: Why won't the banks loan money to anyone asking for loan?

Since the money is created from thin air, for the bank there shouldn't be anything to lose in case the customer couldn't pay it back.

Two reasons:

They want you to risk losing valuable collateral. If you don't have any, you're not attractive.


You are wanting to do something in society which helps them to consolidate power. Like build a weapons factory. They have LOTS of money to loan out for that.

posted on Mar, 27 2008 @ 10:20 PM
Folks, wake up! Imagine what they're trying to get you to believe!

Step 1: American workers build for America all the homes, schools, roads, and businesses that make this country prosper.

Step 2: America owes somebody for having done so! And must now give these things to the banks!

They are enslaving us, then foreclosing on the fruits of our labor.

We still fall for that? We still believe banks DO something for us? What do they really do?

Banks do not:

- Lay 1 single brick in any building.
- Teach one child to read.
- Send a single soldier to defend our borders.
- Build 1 car.


The public can do this for itself with a public accountable institution. It's easy to print money. Don't let banks determine who gets it and for what.


posted on Mar, 27 2008 @ 11:51 PM
It Is Time For The International Banking Cartel To Be Brought Down ! NOW !

posted on Jun, 12 2008 @ 10:59 PM
Just watched the video and then went hunting for a thread.

I've seen the Money Masters and a couple of other things on this subject but this little animated explanation of how the money system works is the clearest and easiest to understand that I have come across.

It begs the question, how much of an administrative apparatus would be required to regulate and coordinate an economy if the banking system were to disappear? I suspect the new apparatus might be just as large. The big improvement would be the removal or at least huge reduction in interest payments in a state controlled system.

Unfortunately, I can't imagine any way out of the current system that doesn't involve a lot of blood in the street.


[edit on 12-6-2008 by ipsedixit]

posted on Jun, 13 2008 @ 02:09 AM

Originally posted by memoir
Can the way we live really exist without all of this imaginary money? It's hard not to believe that we've achieved so many technical and medical advances though the use of borrowed debt... so if that stops... see where I'm going? Can we not only expect a decrease in advances but also a decrease in support of the existing supply?

This nation existed with continuous advancement in arts, sciences & production without a debt-based system for the first 149 years & we can do so again. During that time in history, our efforts, labor & imagination actually held value for ourselves & we truly owned what we earned, rather than merely "holding all of that stuff with permission" from those people who do hold the ownership titles for all we have.

Originally posted by memoir
It's through the current banking system that I live my current life of luxury. Without my money as debt, I wouldn't own a new house, a new car, the computer on which I type this mental vomit. I probably wouldn't be able to buy the gas that got me to this job so that I could repay the interest and principal that got me all of that.

But the whole trick behind a "debt-based economy" is just that...A trick to make you think you actually own all of that. Answer a few questions (to yourself) & then look over here, read everything, including the supportive links to the real laws that govern your life (One clue is that it's not Constitutional Law)...Then see if you can tell yourself if you really own anything at all, even yourself.

For example, you registered your car to get license plates, didn't you? Once you registered your car, it became property of the State in which you registered it...The actual Title is in possession of the State (who microfilm it then destroy it). When you pay off whatever loan exists on the car, you get only the Certificate of Title (which only proves that the Title itself exists somewhere).

You have a Driver's License, don't you? This means that you've already waived your Constitutional Right to Travel Freely & are now subject to the State's regulated "privilege" to drive it.

A little farther...When you get a loan from a bank, they always ask you for collateral, right? By signing over your "collateral," you are in effect producing the financing for the loan by yourself. But then, the bank never actually gives the money to you, they usually give it to the "business" where you're purchasing the item that you got the loan for. In the meantime, you've signed over ownership rights to your collateral to the bank...They legally own it until you pay off the loan (which you never directly received in the first place).

If you don't pay off the loan, the bank can take your collateral and the item that you "purchased"...In effect, the bank took twice the value of that loan & leaves you with nothing, including all of the payments that you were able to make!

They may give you a copy of the "loan contract" but if you try to defend yourself in court to get back your "collateral (since it was taken along with the purchased item, you may try to get back one or the other)," the bank will produce their contract copy in their defense...And the court will uphold it. However, that contract only states the "form of the transaction" when in reality, the actual substance of the transaction never took place (you never got the loan money for your collateral directly, remember?). But to prove it in court, you'd have to subpoena the actual bookkeeping records of the bank as evidence...That's where the bank's true deception is evidenced & it will hold up in your favor.

Is your name on your Birth Certificate written (or typed) in all capital letters? If so, then you are an "item of inventory," slaved to pay "your portion" of the National Debt...That was "your portion" as it stood at the time you were born, but as you earn & spend more "money (which is nothing less than legalized corporate scrip & only represents more debt)," then your portion of that debt grows.

BTW, speaking of the National Debt...That debt is owed to a "bank" that is not Constitutional & therefore automatically illegal to operate in the United States. Congress has the Constitutional Power to coin (mint) our money & determine the value thereof (in Article 2, under the Powers of Congress), but the Fed Res is not a legally-sanctioned agency under Congress, yet it's what determines how much "money" that the government may put into circulation! Even more, since the money to cover loan interests is never allowed to be minted & put into circualtion, this means that it's money owed to the bank that cannot be earned by anyone to pay off a loan! In short, this trickery insures that, the more loans the bank creates, the more likely that somebody will be forced to default because the interest does not exist in circulation!

The Fed Res is a privately-owned & operated "loan-producing machine" run by a cartel of international banking interests. The Fed Res is the source of the economic "booms, busts & bubbles" that keep all of the People enslaved to debt & they do this by juggling interest rates, not any actual value-base upon production or (intellectual or physical) labor.

Have you bought the house you live in? If that house is truly yours, then why do you pay Property Taxes on it? If you still pay those taxes, then this means the government owns it & you are merely a Tenant paying a "lease," not the actual owner.

Do you use the 1040 Form to report your Income Taxes? Every time you use that form, you are filling out a forged, counterfeit document because it doesn't have a valid OMB number as required by the Paperwork Reduction Act...The very same Act that declares that these "tax forms" cannot ever legally posses a valid OMB number! And when you fill it out, you are volunteering your financial information to pay taxes that you would not be obligated to pay if you had not already volunteered that information.

Also, by Law, all valid taxes collected must be paid to the Secretary of the Treasury...But any taxes you pay based from your "wages/salary/compensation" is not given to the Treasury. Besides, the IRS has not had any valid authority or jurisdiction to collect that particular tax money anywhere within the boundaries of the 50 States...At least, not since Prohibition was repealed!

Their HQ Office is in Puerto Rico! There is no Natural Law (ie: derived from "pursuance of" the Constitution), Executive Order or even Congressional Act that justifies the existence of the IRS at all!

BTW, there are already numerous threads about all of this...Just perform an ATS Search using "Federal Reserve," "Fed Res," "IRS" & "taxes" & you'll see what kind of mob families run their "businesses" in government...Against their Constitutional Oath of Office, against the People & in favor of their real bosses, the corporations.

Originally posted by In nothing we trust

Originally posted by memoir
The system will crash. What will the aftermath look like?


Considering that modern-day USA looks more like Hitler's Germany every day, I think the aftermath will look more like post WW2 Germany.

Originally posted by Divinorumus

Originally posted by ohioguy646
Yea so listen everyone I have a MBA leaning alot toward financials,

So, what does your MBA have to say regarding this increasing trade imbalance, trade debt. How much of this worthless funny money can we keep printing and conning China-Mart and the OPEC nations into accepting for all that cool stuff we need to keep the party going . . .

I think you're forgetting the role that the World Bank plays in all of this...They have no qualms about letting individual nations (or even a few at a time) go bankrupt...They're the ones juggling around the exchange rates between nations. As long as they keep the debt-based worldwide economy from going belly-up, they'll just keep raking in the money & subject entire nations into insolvable debt to them.

Originally posted by ipsedixit
The big improvement would be the removal or at least huge reduction in interest payments in a state controlled system.
Unfortunately, I can't imagine any way out of the current system that doesn't involve a lot of blood in the street.

One word...NESARA.

posted on Nov, 4 2008 @ 10:08 AM
And to add to this thread (instead of creating a new one just for the addition) I was in a book shop today and just out of pure curiosity i asked if they had a copy of modern money mechanics to which came the reply that it is now out of print, but I could quite easily go online and download a pdf of it for free.

much glee.

The purpose of this booklet is to describe the basic process of money creation in a "fractional reserve" banking system. The approach taken illustrates the changes in bank balance sheets that occur when deposits in banks change as a result of monetary action by the Federal Reserve System

As seen in Zeitgeist Addendum and also touched upon in David Ickes Big brother, the big picture

neither paper currency nor deposits have value as commodities. Intrinsically, a dollar bill is just a piece of paper, deposits merely book entries. Coins do have some intrinsic value as metal, but generally far less than their face value.

it (the bank) must maintain legally required reserves, ...equal to a prescribed percentage of its deposits.
...Under current regulations, the reserve requirement against most transaction accounts is 10 percent.

Of course, they do not really pay out loans from the money they receive as deposits. If they did this, no additional money would be created. What they do when they make loans is to accept promissory notes in exchange for credits to the borrowers' transaction accounts.

I could go on using the Zeitgeist examples taken from modern money mechanics all day long, but not much point really when it is all freely available to everyone

posted on Feb, 2 2009 @ 04:01 AM

this thread is only two pages long yet there are insanely long threads scrutinizing satellite photos of mars???

come on people, this is earth, this is a problem and it needs to be corrected. First step is education and awareness. Everyone watch this video. The martians can wait.

posted on Feb, 17 2009 @ 06:30 PM
And again a BUMP..

I mean this video is brilliant, i saw it a few months back, its very clear and very good. It made me buy some books about the creditcrisis and delve some more. Outstanding, and indeed more of importance then photos of rocks, no offence btw.

posted on Dec, 10 2009 @ 08:08 AM
The sequel is now out.

Money as Debt II Promises Unleashed

[edit on 10-12-2009 by TheBandit795]

posted on Dec, 10 2009 @ 08:16 AM
reply to post by ipsedixit

Yes you are right, corporate VS the people, because as up today that is what our for the people government has become a corporate run entity.

That is also why it hurts my hart to see how littler by littler we are heading nothing but down the hill, no for those that are the ones controlling the government but for the rest of the population at the mercy of those running the government.

Americans are Inheriting the biggest debt this nation will ever face and is nobody stopping the spending.

posted on Dec, 10 2009 @ 04:16 PM
reply to post by marg6043

Americans are Inheriting the biggest debt this nation will ever face and is nobody stopping the spending.


Yes Marge, But there's just some spending that is righteous ! such as food stamps for those who are getting shafted by the elites in Govt and business

More Than 37 Million In US Use Food Stamps ‎ - 1 day ago

A record 37.2 million people, or about one out of every eight Americans, received food stamps in September, as the recession drove a surging jobless rate, (press release)

[edit on 10-12-2009 by St Udio]

posted on Dec, 10 2009 @ 06:30 PM
reply to post by St Udio

Sad that with no Jobs in site and the government promoting only minimum wage jobs we all are to fall into a welfare nation, then where the money will come from.

Oh yes, that is what we have the Treasury department for.

posted on Dec, 11 2009 @ 06:40 AM
reply to post by marg6043

with no Jobs in site and the government promoting only minimum wage jobs we all are to fall into a welfare nation, then where the money will come from.

There's a growing consensus in Congress for a new " Stimulus 2.0 "

Because the banks are remaining busy iwith speculating on commodities & stocks,
instead of lending the (bailout) monies to the private sector ---as was the intended purpose of the TARP, TALF and all those other bailout 'facilities'
created for the 'too-Big-to-fail' financial firms & banks & lenders

posted on Dec, 11 2009 @ 08:55 AM
The video in the OP is not avaiable anymore.
Can someone post a new link?
I would search for it, but I'm not sure the title is just "Money as debt".


EDIT: spelling

[edit on 11-12-2009 by Sator]

posted on Feb, 17 2011 @ 05:55 PM

Originally posted by Sator
The video in the OP is not avaiable anymore.
Can someone post a new link?

On it!

neformore could you update your OP please, perhaps move to "meltdown" forum?


Sri Oracle
edit on 17-2-2011 by Sri Oracle because: (no reason given)

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