read " a course in miracles". a tremendous work on training your mind to break free. It works, you will know what I am saying by the page 10 of the 600 page book. It is so psychologically advanced you may have to read many pages many times over. It will clear up the world quite litterally. let me see. ........ http://courseinmiracles.com/ACIM-urtext-pdf/ACIM-Urtext-Text.pdf I think this is the original. I have the original I bought from ebay some time ago. It seems after she(helen shucman/jewish professor of psychology at columbia) died they had manipulated the text. same as the books in the bible. this war is a psychic one, the gouls and goblins are figments of the imagination.
I always thought the Government owned the $ printing press. Actually printing press has been given to privately owned bank (owned by other banks) called the FED. The Government actually has to borrow from this bank and actually pay interest for doing so. I have an idea lets take the printing presses back and give to the Treasury.
that would mean free money for the US. careful with that tone boy! you may find blackwater ringing your doorbell.
explain please. are you implying that we are not free to speak? would you feel the same of Thoreau or Emerson? from past posts I have read I dont really feel you know who Emerson or Thoreau even was. Please prove me wrong you undemocratic communist american.
Your analogy that a carpenter cannot create something from nothing is quite obviously true. And when the currency was backed by a commodity, as in gold and silver, it was equally as true that additional money could not be created without additional reserves coming into the bank in the form of deposits. If a bank indulged in creating more loans than it could back and the depositors got wind of it and demanded their deposits it effectively put the bank out of business. Which is precisely why fractional reserve banking exists. It allows for currency manipulation to stimulate the economy, maintain stable prices, etc. If a bank has to borrow money to fund the loan it creates in order to balance it's books then it would seem that it is fully funded through borrowed money and is not engaging in fractional reserves. This seems like semantics since the borrowing moves up the banking chain until it eventually comes to the steps of one of the Federal Reserve banks. ( I don't buy the idea that the bulk of the money comes from depositors/investors like you and me and others). So if the individual bank does not actually create new money at it's place of business it is certainly authorized to set the process in motion as a member of the banking system. So maybe the expression " created out of thin air" is not technically correct, it is essentially so since the Fed can. The Fed can unquestionably do so. The following quote is from an excerpt of a speech Bernanke gave when the question of a deflation was a concern in 2002. Sure sounds to me that he thinks it is possible to create money where none existed before. As far as the European banks borrowing all that money from the ECB I'd say they are likely trying to cover their asses because they have no idea if they are in compliance with the reserve requirements they must meet due to the inability to mark to market all the SIV's and other sub-prime garbage they got caught holding.
it's interesting that bernanke describes the creation of money as happening at 'essentially no cost' that may be true for the banks that loan it, but absolutely not for the end users who borrow it, the taxpayers who finance it and the savers and consumers who are inflated out of it (most people). who does he represent?