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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Skeeter Bug who wrote (251405)6/2/2010 9:53:09 AM
From: neolibRead Replies (1) of 306849
 

they create money from nothing - cash and bank credits.

PLEASE do explain HOW they are any different than the examples I gave.

Is it because they have "B-A-N-K" in the name? If you take out a private loan from me you claim no money is created, despite the fact that the note can circulate just like money. So if I legally change my name to CITIZEN A. BANK, will that do it for you? You think its now money?

Or does it require incorporation? Do I need a board of directors? What the heck do you think is the magical difference between debt taken from an individual and debt taken from a "bank".

Or perhaps you think only a bank can make money, because that is the legal structure in the USA of our fractional reserve banking. I'd hope its clear that on the island, USA banking laws don't apply. I'm trying to show you how systems work, not what country X's laws say. However, the laws of the USA don't exclude private debt obligations anyway, and these do create tradeable money. The fact that it is not part of M0 which AFAIK is what you think "money" is, is quite irrelevant. Thats part of my point, in the USA there is a shadow monetary system of private debt, i.e. debt money created without your "elites" involved at all. And it appears to me to be of significant size, even though not reported in the "money" totals of the fractional reserve banking system, because of course, it is outside of that system.
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