Is anyone actually buying into this load of crap?

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posted on May, 14 2010 @ 10:28 PM
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Originally posted by FortAnthem
I've been seeing this disgusting TV ad from Citizen's Bank trying to pass off supporting the banks as our patriotic duty or something. Their new slogan is "Good banking is good citizenship".






I love the part where they say, "my savings are another person's mortgage".

They completely fail to mention that your savings make about a half a percent interest if you're lucky, while they charge about 10 times that much interest for the money they borrow out.

Not to mention the fact that, thanks to fractional reserve banking, they get to loan out 10 times more money than they actually have in those savings accounts. They're charging people massive interest to loan them money that they don't even have, that they created out of thin air.

Then they have the gall to pass this whole criminal enterprise off on us as somehow patriotic and wholesome as apple pie. If you believe all of the bull spouted in this ad, you would think that banking was the cornerstone of the American republic.





[edit on 5/14/10 by FortAnthem]






I love the part where they say, "my savings are another person's mortgage".


How about the part where the guy says that "it's what the forefathers wanted"
.
Here is what the forefathers thought of it

Quotes from our forefathers and other important people




posted on May, 14 2010 @ 10:28 PM
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reply to post by CookieMonster09
 


Dear Robot..


Google Video Link



Google Video Link



Google Video Link


Why The United States Bank Was Closed

President Andrew Jackson
July 10, 1832


President John F. Kennedy The Federal Reserve and Executive Order 11110

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson, after signing the Federal Reserve into existence

"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. Banks can in fact inflate,
mint and unmint the modern ledger-entry currency".- MAJOR L .L. B. ANGUS

"Banking was conceived in iniquity and was born in sin. The Bankers own the earth. Take it away from
them, but leave them the power to create deposits, and with the flick of the pen they will create enough
deposits to buy it back again. However, take it away from them, and all the great fortunes like mine will
disappear and they ought to disappear, for this would be a happier and better world to live in. But, if you
wish to remain the slaves of Bankers and pay the cost of your own slavery, let them continue to create
deposits".- SIR JOSIAH STAMP,(President of the Bank of England in the 1920's, the second richest man in Britain)

"While boasting of our noble deeds were careful to conceal the ugly fact that by an
iniquitous money system we have nationalized a system of oppression which, though more refined, is not
less cruel than the old system of chattel slavery. - Horace Greeley

Dr. Stuart Crane explained banking with the analogy of Wheat Receipts in 1971. 6 MB, 52 min.



posted on May, 14 2010 @ 10:39 PM
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There's no convincing someone whose mind is made up.

Minds are like parachutes. They work best when they're open.



I guess all the information you can find in libraries or online amounts to nothing, even though those that do explain it state it simply: banks create money.

Well, in that case, every single profitable business enterprise creates money out of thin air.

Going back to my Ford example, it cost Ford Motor - in tangible money - $15,000 to manufacture a car ultimately sold for $20,000.

Did Ford make $5,000 out of thin air?

Of course not. It's called profit.

Banks are no different. Only instead of profit, they call it interest. They buy low (a $15,000 loan) and sell high ($20,000 in total repayment over time).

It's just that people have a hard time with the concept that banks deserve to earn interest on their capital. That's the only difference.

And you simply cannot tell me that banks don't have assets and that they don't have deposits. It's patently false, and utterly ridiculous. Banks have all kinds of investments, stocks, bonds, real estate, land, etc. They are into all kinds of business enterprises - either as lenders, advisers, sometimes even partners. Ever hear of Comerica Park?



Bank failure is a way for larger banks to eat up smaller ones. It was done during the depression to consolidate banking power and push competitors out of the system.

Agreed. Separate topic, however.



This can happen when people stop paying on their loans, but that doesn't mean the bank is out of anything of tangible value.

Sure it does. If a bank strokes a check for $200,000 at closing, and a borrower later defaults, the bank is out the $200,000, less the value of the house, which might only be worth $100,000.

Think of it as your own personal money. If you loaned me $50,000 to buy a car, and I default on the loan, you get the car, which might be now only worth $25,000 at resale due to depreciation and devaluation over time (I stripped the car of its radio, tires, etc.). Let's say you collected $1,000/month for 6 months from me, or $6,000.

$50,000 out the door
less $25,000 at resale
= $25,000
+ $6,000 in payments received
You collected $31,000 on a $50,000 "investment".

You got taken to the cleaners. Banks are no different that the scenario noted above. When a loan defaults, they take a loss - a heavy loss.



When my grandfather was a kid, he could get a cheeseburger, fries, and a milkshake for 25 cents.

But he couldn't play Nintendo. What's the point? Even with inflation, we still have a much higher standard of living than your grandfather - from a purely materialistic (not spiritual or moral) perspective. So what?



posted on May, 14 2010 @ 10:47 PM
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Dear Robot..

Oh wait, now I am supposed to watch the silly Creature from Jekyll Island video. And read quotes from dead Presidents and senators.

All from a reputable guy with a code name of "Reeferman".

Not exactly the Wall Street Journal, eh?

Why don't you try to answer a single one of the dozens of questions that I posed? At least one poster responded with answers to my questions. He just gave up when I replied back to his response.

By the way, the Creature from Jekyll Island book - It fails to discuss mortgage fraud. And it fails to discuss fraudulent loan applications. It discusses the Federal Reserve, but not the actual face-to-face lending and bank operations of a small, Main Street hometown bank.

Money is not created out of thin air. Banks have deposits. Banks have assets. Any CPA or stockbroker can show you a Balance Sheet for any publicly-traded bank that verifies this to be factual and true. Instead of listening to logic - no, we have to resort to the Jekyll Island conspiracy theories.

A quote from Major LLB Angus? AKA Lawrence Lee Bazley. Born in 1893. Not very current quote, eh?

Horace Greeley? 1811. Heck, he's older than Bazley.

Josiah Stamp? 1880.

I can assure you, the banking system and system of credit - and modern business for that matter - has changed just a wee bit since the 1800's. Heck, at least quote Ron Paul or some other modern politician.

[edit on 14-5-2010 by CookieMonster09]



posted on May, 14 2010 @ 10:47 PM
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off-topic post removed to prevent thread-drift


 



posted on May, 14 2010 @ 10:51 PM
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reply to post by FortAnthem
 


What blatantly disgusting propaganda, the sad thing is how many people will actually fall for such things figuring that the majority of people refuse to read or study history because its "boring."


If the American people ever 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


I mean, Jefferson just sounds like he loooves banking in that quote doesn't he?


I seriously wish everyone would read Modern Money Mechanics. You try to tell people that "this is how fractional reserve banking works," and they just stare at you with that empty look on their face like they can't register a thing that you just said about debt, interest, and manipulation.

The next great war shall be the war against the banks.



posted on May, 14 2010 @ 10:52 PM
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Originally posted by fallenearth2010
reply to post by FortAnthem
 


minati hand signals identifies people assossiated with the TPTB.
Some examples in the music industry are Jay-z, Kanye West, Beyonce.....Now we see it in MMA with Ben Henderson. I just saw WEC 48 and the title




OK , you're gonna have to explain that one for me a little more.



posted on May, 14 2010 @ 11:07 PM
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reply to post by 30_seconds
 


The reason we pass on debt is because people either do not care about their finances or are that mentally handicapped to take out 4000 dollar credit card loans on an income of 500 a week.

An interest free loaning system is just unreal. Everyone would be rampant with loans and with good reason - there is not interest.



posted on May, 14 2010 @ 11:13 PM
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I seriously wish everyone would read Modern Money Mechanics. You try to tell people that "this is how fractional reserve banking works," and they just stare at you with that empty look on their face like they can't register a thing that you just said about debt, interest, and manipulation.

Explain to me, please, how Comerica Bank is "making money out of thin air."

Per their 2009 audited financial statements, they have $42.2 billion in outstanding loans out on the street. Total deposits? $40 billion. Investment securities for sale? $7.4 billion.

Obviously, they have more than enough in deposits and investment securities to have written all of the outstanding loans currently on their books. Not to mention all of the other assets that the bank has - real estate, land, equipment, cash, investments, etc.

They don't need to "make money out of thin air". They don't need to borrow money to write a loan. They don't need accounting gimmicks. They have deposits! You need a loan for $100,000? They have more than enough deposits, cash reserves, and assets to write a check for the loan, believe me.

And Comerica is a perfect example of a large, conservative Main Street bank. They aren't Bank of America, but they aren't your local credit union either. They are a middle of the road, mid-sized bank.



[edit on 14-5-2010 by CookieMonster09]



posted on May, 14 2010 @ 11:27 PM
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Mortgage brokers aside, Bank of America, J.P. Morgan Chase, Wells Fargo
and Citigroup are not investment banks, neither are the many regional, and smaller commercial banks that originated bad residential RE mortgages and dumped 'em on the secondary market/GSE's as soon as the ink was dry. Easy money with an implicit backstop.



posted on May, 14 2010 @ 11:35 PM
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reply to post by CookieMonster09
 


Yeah...because Fractional Reserve banking is sooo great!


Seriously?

The only reason anyone would ever charge interest is because they want to put you in debt. Period.

Fractional Reserve banking was not created for the benefit of We the People. It was, and is, entirely designed to steal the real wealth from us.

And what is real wealth?

Property.

And ALL the rights that come with owning it.

Because like one philosopher said "All rights derive from property.

Seriously, please read the publication Modern Money Mechanics printed by the Federal Reserve and detailing fractional reserve banking policies; and then tell me with a straight-face that banking foreclosures and defaults on loans were not built into the system on purpose.

Do you know why gold and silver is a superior form of currency compared to our worthless,paper tender? Because you cannot print it out of thin air...and you cannot charge someone interest for using it.







[edit on 5/14/2010 by dalan.]



posted on May, 14 2010 @ 11:38 PM
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Mortgage brokers aside, Bank of America, J.P. Morgan Chase, Wells Fargo and Citigroup are not investment banks, neither are the many regional, and smaller commercial banks that originated bad residential RE mortgages and dumped 'em on the secondary market/GSE's as soon as the ink was dry. Easy money with an implicit backstop.

Bank of America, JPMChase, and Citi all are Wall Street investment banks. They also have retail banking in place as well. These are all huge, mammoth organizations.

Smaller mom and pop banks got hurt from construction loans to builders for lot inventory loans and residential real estate developments. They held their own paper. You see a lot of this down South where real estate development went berserk.

Most of the bad residential real estate mortgages were originated by brokers, not banks. We had huge mortgage companies at the time - Ameriquest, a predatory sub-prime mortgage broker, was one of the largest. As was Countrywide, Rock Financial, Taylor/Bean/Whitaker, etc. Some banks had mortgage arms where they sold the paper right away. But the huge influx of these bad loans came from sub-prime mortgage brokerages, not banks.

Easy money? For brokers, yes. Yeah, the GSE's were funding like crazy for these bad, sub-prime loans. But GSE's aren't banks, are they? GSE's, or Government Sponsored Enterprises, such as Ginnie Mae, Freddie Mac, etc. are most emphatically NOT banks.



posted on May, 14 2010 @ 11:41 PM
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reply to post by CookieMonster09
 



This whole notion that they "create money out of thin air" is total nonsense floating around the Internet in these goofy videos.

Just look at the balance sheet of any publicly traded bank. Banks carry significant deposits to lend against without having to borrow from the Federal Reserve system. Banks have assets - significant assets.


It does not matter which bank has the FEDERAL RESERVE NOTE because it was still printed out of thin air, through debt, to steal property by the Federal Reserve.

Its not just from "goofy" videos, the Federal Reserve admitted it themsleves when they printed Modern Money Mechanics.

Your argument is the same as saying, if I were a software developer and I wrote a book detailing how to write computer software...and someone decided to move a documentary about my book and post it in a video on the internet; then it must not be true because its a "goofy video on the internet."

I did not know that communication is goofy.

Well, if you think that money is not created out of debt, and that interest is good for us, and was not solely intended to steal property...then please be sure to write a letter to the Chicago Chapter of the Federal Reserve so that they can fix the misinformation that they put in their book.

[edit on 5/14/2010 by dalan.]



posted on May, 14 2010 @ 11:45 PM
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Originally posted by FortAnthem

Originally posted by fallenearth2010
reply to post by FortAnthem
 


minati hand signals identifies people assossiated with the TPTB.
Some examples in the music industry are Jay-z, Kanye West, Beyonce.....Now we see it in MMA with Ben Henderson. I just saw WEC 48 and the title




OK , you're gonna have to explain that one for me a little more.



Whoa! This is freakin me out!



Am I the only one who noticed that the post I responded to above completely disappeared?

No "off topic post", no "major T & C vilation", nothing, just gone.



I'm really freaked out. Was there another dimentional shift?

Did Oz and New Zealand get switched around again?



posted on May, 14 2010 @ 11:45 PM
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Yea, man. Good people with money trying to justify enslavement of the citizens with ever increasing debt. Now that's what the forfathers of this great nation had envisioned, right?

Bankers are just patriots doin' what they can to help us all into grinding hopeless poverty so the gready banksters get more power to make our lives even more meaningless. I think I get it, now. Show your local banker your appreciation for his loyal patriotism!

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posted on May, 14 2010 @ 11:49 PM
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The only reason anyone would ever charge interest is because they want to put you in debt. Period.

The reason that banks exist is to make a profit. If you are advocating interest-free loans, then you won't find that in the private banking sphere. Banks are in the lending game to charge interest and make a profit. Period. That's called...Reality.

As far as "goofiness" is concerned, it's goofy to suggest that banks create money out of thin air. They don't. It's totally misleading. Banks lend money to make a profit. Period. They have significant assets. Period. I gave the example of Comerica Bank as a prime instance of a bank with massive amounts of capital, reserves, deposits, and assets that are beyond any shadow of a doubt proof that they have the wherewithal to write loans without having to resort to some fancy accounting gimmickry of "creating money out of thin air".

By the same argument that you make, you could accuse any profitable business of "making money out of thin air" because they charge more than what they put into producing a product or a service.

Banks have a legitimate service - Lending money at interest. That's what they do. It's no different than any other business service that's out there in the marketplace.



And what is real wealth? Property.

Maybe 500 years ago. Property is illiquid, making it a terrible venue for wealth. It's not easily sold, and based on recent market declines, can make for a terrible investment. Real estate in some areas has declined by as much as 50% or more.

No, real wealth can come from more than just property. Technology, investments, stocks, bonds, companies owned, and tangible property - such as land and real estate - would create a more balanced approach to wealth. Those that put all their money into a single basket - real estate - have been utterly decimated in this last downturn.

Banks lose money when their borrowers fail. Banking is much more profitable when their borrowers make money and are profitable. Banks want interest on their money - They are not in the real estate, car, or equipment business. Foreclosures are no fun for the borrower, and certainly a huge hassle for the bank, causing huge losses.



Yeah...because Fractional Reserve banking is sooo great!

What would you replace it with? Do tell.

The only thing wrong with fractional reserve banking that I can see right now is the preponderance or mortgage fraud, which has more to do with due diligence and a change in credit parameters.



Fractional Reserve banking was not created for the benefit of We the People. It was, and is, entirely designed to steal the real wealth from us.

The only ones profiting from the latest real estate meltdown are some fat cat Wall Street bankers who make money through good times and bad, and some very clever professional mortgage fraud rings.

Neither party of which is your Main Street retail bank. Those banks got screwed over by both parties named above.


[edit on 15-5-2010 by CookieMonster09]



posted on May, 15 2010 @ 12:03 AM
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reply to post by CookieMonster09
 



All from a reputable guy with a code name of "Reeferman".





What is a Logical Fallacy?

A logical fallacy is, roughly speaking, an error of reasoning. When someone adopts a position, or tries to persuade someone else to adopt a position, based on a bad piece of reasoning, they commit a fallacy. I say “roughly speaking” because this definition has a few problems, the most important of which are outlined below. Some logical fallacies are more common than others, and so have been named and defined. When people speak of logical fallacies they often mean to refer to this collection of well-known errors of reasoning, rather than to fallacies in the broader, more technical sense given above.



Arguments that commit fallacies of relevance rely on premises that aren’t relevant to the truth of the conclusion. The various irrelevant appeals are all fallacies of relevance, as are ad hominems.



Ad Hominem: Personal Attack

The other type of ad hominem argument is a form of genetic fallacy. Arguments of this kind focus not on the evidence for a view but on the character of the person advancing it; they seek to discredit positions by discrediting those who hold them. It is always important to attack arguments, rather than arguers, and this is where arguments that commit the ad hominem fallacy fall down.


Yeah, so, it is easy to attack reeferman on the basis of his username, but figuring that we are on the internet...you never know who you might be speaking with.

And that form of a personal attack would be the propaganda that one would expect from a bank, or banker.



posted on May, 15 2010 @ 12:03 AM
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Originally posted by CookieMonster09


The only reason anyone would ever charge interest is because they want to put you in debt. Period.

The reason that banks exist is to make a profit. If you are advocating interest-free loans, then you won't find that in the private banking sphere. Banks are in the lending game to charge interest and make a profit. Period. That's called...Reality.....

[edit on 14-5-2010 by CookieMonster09]


No, what that is called is usery.

One only needs to look at the example of the moneychangers in the temple in Roman Palestine 2,000 years ago. Jesus Christ called them a den of thieves. I agree.

Banks produce nothing. They are leaches on society.




posted on May, 15 2010 @ 12:06 AM
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reply to post by CookieMonster09
 



As far as "goofiness" is concerned, it's goofy to suggest that banks create money out of thin air. They don't. It's totally misleading.


The Federal Reserve is a private bank.

The Federal Reserve does print money out of then air.

That money does trickle down to the smaller banks.

So those smaller banks are using money that was printed out of thin air. On the basis of nothing more than what started out as a Government bond.

Federal Reserve Notes are instruments of debt. Period.

You cannot refute their publication.



posted on May, 15 2010 @ 12:06 AM
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Seems appropriate.





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