EU Parliament member: The Banking system is a criminal scandal!

Originally posted by 0bserver1
reply to post by TheBandit795

 

What would happen if we all would print money and all spend it on the same day . they can't arrest us all right..

They might not arrest us all but this would send hyper inflation sky high as the market was suddenly flooded with extra cash circulating out there. Correct me if im wrong?

Originally posted by MegaSpace

Originally posted by 0bserver1
reply to post by TheBandit795

 

What would happen if we all would print money and all spend it on the same day . they can't arrest us all right..

They might not arrest us all but this would send hyper inflation sky high as the market was suddenly flooded with extra cash circulating out there. Correct me if im wrong?

Money should not loose its value if there is too much in circulation. This is a myth perpetuated by the central bankers to keep money in the private sector rather than in the public sector. Supposedly because bankers are more trustworthy than politicians. I think both are scum since they cover each others arse.

Monopoly money issued by warner bros don't lose their value regardless how much we play with and neither do arcade tokens. Its all about goodwill and they have plenty of it eventhough they don't deserve it. Lie often enough and it becomes "the truth". The value of money can and should be predetermined in advance also known as a permanent fix, much like the individual eu countries pegged their currency against the euro. it only happened once.

Originally posted by pstrron
Ya think??? With the invention of fractional reserve banking and going off the gold standard the banking system is clearly criminal. Counterfeiting, yep done every day by the Federal Reserve Bank to the tune of $85 billion a month. Must be nice to create money out of thin air and then charge interest on something that doesn't exist yet demand real money or property in return. Now if you tried doing it they would throw you in jail and loose the key.

Agreed - the thing he did not mention was the other method of counterfeit by banks, monetization of promises to pay.

This in my opinion is the most egregious of all, because it is the most common and accepted of banking practices. It is the run of the mill theft that occurs when ever anyone gets a mortgage or gets finance for a personal loan, or uses a credit card.

The banks simply print off the money for the loan - without limit, and no reserve whatsoever.

When they print this money, it would be utterly worthless - if they did not STEAL the VALUE of that money from all other holders of that kind of currency. It is counterfeit, it is theft - there is no banking done at this time in the world that is not pure theft.

Originally posted by EarthCitizen07

Originally posted by MegaSpace

Originally posted by 0bserver1
reply to post by TheBandit795

 

What would happen if we all would print money and all spend it on the same day . they can't arrest us all right..

They might not arrest us all but this would send hyper inflation sky high as the market was suddenly flooded with extra cash circulating out there. Correct me if im wrong?

Money should not loose its value if there is too much in circulation. This is a myth perpetuated by the central bankers to keep money in the private sector rather than in the public sector. Supposedly because bankers are more trustworthy than politicians. I think both are scum since they cover each others arse.

Monopoly money issued by warner bros don't lose their value regardless how much we play with and neither do arcade tokens. Its all about goodwill and they have plenty of it eventhough they don't deserve it. Lie often enough and it becomes "the truth". The value of money can and should be predetermined in advance also known as a permanent fix, much like the individual eu countries pegged their currency against the euro. it only happened once.

It seems you have a misconception - the value of money is directly related to how much of it is in circulation.

Simply put, the total money is equal to all the goods and services that might be purchased. If you double the amount of money, its value is halved.

Money not in circulation does not cause this effect - but eventually all money is circulated and the inflation of prices will be evident.

You cannot fix the price of money in advance - because the volume of goods and services fluctuates. What you can do though is fix the total supply of money - that will allow you to easily gauge the real value of things.

It also seems you advocate having money in govt hands - but they have no money they didnt take from someone else first, and because they do not compete to create goods and services and sell them - then they are very inefficient and wasteful. Eliminating govt entirely is the best way to improve the general wealth of common men.