I really don't want a bank to "hold" my money for me b/c I don't like the rotten things that banks do. Let the Treasury hold it for me until I want to take it out or move it somewhere else.
dont bank need to lend money to others to make profit? I dont think they lost most of their money from investments. They lost it by people not paying back their loans.
Money is energy...or to be more specific money represents the amount of energy embodied in a specific product or service. In order for the banks to keep lending, the economy has to keep growing..and in order for the economy to keep growing...global energy (oil) production/extraction has to keep growing, however global oil extraction/production has reach max output (peak oil). This will choke economic growth, which translates to less demand for loans and credit. Just my tuppence worth
"In order for the banks to keep lending, the economy has to keep growing"
... my argument is that the economy is not growing because capital markets are only as competitive as the banks allow them to be (they're in the way).
by relegating "banks" to being investors, only, and opening up everyone to the same information they have about trade, we will blast the doors off the global capital market with real, reliable information... and growth will be less dependent on oil.
Donot go against Banking cartels & Mafias as If they see their fraud of generating wealth from thin Air exposed then they will bring true recession and WWIII imposed on whole world......They are all connected in a very large Matrix so taking out basic building block of Matrix will lead to all out WAR on All
Just one prob until we rid the system of inflation people will not use this bank for obvious reasons, there money devalues year on year. How could we realistically end the Fed, Bank of England etc given that they control the political system? As Warburg said, "give me control of a nations money supply and I care not who makes the laws"
Agreed, but we can't even convince people to stop using fluoride in their toothpaste or not to get vaccinated. The Muslim banking system forbids the use of interest, they get around it by charging hugh setup fees etc.
All said, like so many other things I see and read great concept very difficult to implement, but keep the info flowing.
the whole point of investment is to earn a return regardless of the kind of investment. *before* investment, though, folks should be afforded absolute protection of their money & access to a perfectly competitive capital market & have as much access to information as anyone else within that market (see modigliani miller). this doesn't happen if banks are already investing people's money when they should just be protecting it.
give it any name you'd like, at least it avoids the moral hazard.
I agree with you. What I was saying was that banking in its current form is bad, be it Conventional banking or Islamic banking. I'm for a monetary system that is completely interest free, but not interest free in the way Islamic banks pretend to be, because they are just fraud!
equilcurrency will be publishing a proposal aimed at the state of california for the purpose of making its fiscal activity completely transparent and easy to observe using a new kind of bank that does not engage in investment.
I agree with the fact that people should be more informed on what "banking" actually means, but I don't think nation-wide banks are going to offer sole protection of assets without investment anytime soon. Yes, this would prevent drastic freezing of the financial markets in the future, but at the cost of slower economic growth due to reduced investment. It's a "playing it safe" route that's better for the individual and not the whole. Interesting points, and please do make more videos!
"at the cost of slower economic growth due to reduced investment"
i see your point, but i'd like to submit for your consideration that if a 'bank' is entirely devoted to "protecting and measuring" all financial activity on behalf of all users (including investment), then the doors leading to the market for investment itself would be blown wide open since folks will be able to invest confidently knowing that the market for "return" is perfectly real no matter who is entering: hence equilcurrency.
people don't even want to pay monthly checking fees or ATM fees. i don't know what incentive a bank or any other form of savings company would have to hold on to our money, if not for the return they make on whatever they invest our money in.
the incentive comes in the form of collecting a service charge in return for operating a "system-accounting platform" that provides absolute clarity about all public financial activity taking place within the system. the exception being that private information is not disclosed, but if anyone wanted to know the real-time performance of an investment (taking place among users within the bank) or how much taxes are being collected/spent, then it would be as easy as a simple query. no more fraud.
Could this be provided for a local government? I going to run for mayor of my region this year and this sounds just the thing that is needed. My plaform will be lowering rates and maximum accountability - all meetings will be videoed and put online.
Yes, EQC will be submitting an abstract expected by the California Board of Equalization in the next few days detailing how it can immediately allocate all tax dues immediately to the state at the point of sale at no cost to the government. Enabling absolute fidelity to tax commitments and providing for immediate collection will most certainly push tax rates lower after current debts are paid;
the transparency will almost demand that they go down.
No interest rates. Banks should not be involved in investment. They purpose should be to protect, provide userful information, and easy access to money -financial stewards.
EQC's website will disclose this material on their site shortly.
people are gullible my friend, and the number of responses on here shows how much interest people have in what directly affects their lives. You have all the answers my friend but we do not have the power. Great argument. Keep it up. peace
"but we do not have the power" - it just seems that way because a lot of us still emulate our parents by using picket signs and megaphones -which don't affect people anymore.
"You have all the answers my friend" - and they're hardly verbal, picket signs are not my style.... if enough people switch from their conventional bank to equilcurrency, they'll do more in terms of changing the world than any amount of protesting can ever achieve: removing the blank check from "bankers".
You are spot on mxfactorial. I just believe a lot of people will do nothing about it, there have been depressions, recessions and crisis in the past (eg 1929). Today it's business as usual, people have fast forgotten the errors of the past.
I really don't want a bank to "hold" my money for me b/c I don't like the rotten things that banks do. Let the Treasury hold it for me until I want to take it out or move it somewhere else.
spankrobot 4 months ago
dont bank need to lend money to others to make profit? I dont think they lost most of their money from investments. They lost it by people not paying back their loans.
Zimba9810 1 year ago
Money is energy...or to be more specific money represents the amount of energy embodied in a specific product or service. In order for the banks to keep lending, the economy has to keep growing..and in order for the economy to keep growing...global energy (oil) production/extraction has to keep growing, however global oil extraction/production has reach max output (peak oil). This will choke economic growth, which translates to less demand for loans and credit. Just my tuppence worth
Straightsix76 2 years ago
"In order for the banks to keep lending, the economy has to keep growing"
... my argument is that the economy is not growing because capital markets are only as competitive as the banks allow them to be (they're in the way).
by relegating "banks" to being investors, only, and opening up everyone to the same information they have about trade, we will blast the doors off the global capital market with real, reliable information... and growth will be less dependent on oil.
thanks for your comment.
mxfactorial 2 years ago
Donot go against Banking cartels & Mafias as If they see their fraud of generating wealth from thin Air exposed then they will bring true recession and WWIII imposed on whole world......They are all connected in a very large Matrix so taking out basic building block of Matrix will lead to all out WAR on All
davidshaz20000 2 years ago
Nice post
Just one prob until we rid the system of inflation people will not use this bank for obvious reasons, there money devalues year on year. How could we realistically end the Fed, Bank of England etc given that they control the political system? As Warburg said, "give me control of a nations money supply and I care not who makes the laws"
deadrebel2 2 years ago
if enough people used this bank, then monetary inflation would no longer occur.
mxfactorial 2 years ago
@mxfactorial
Agreed, but we can't even convince people to stop using fluoride in their toothpaste or not to get vaccinated. The Muslim banking system forbids the use of interest, they get around it by charging hugh setup fees etc.
All said, like so many other things I see and read great concept very difficult to implement, but keep the info flowing.
deadrebel2 2 years ago
Please don't call that Islamic Banking thing Islamic, its not, its just an eyewash!
PersonOfBook 2 years ago
the whole point of investment is to earn a return regardless of the kind of investment. *before* investment, though, folks should be afforded absolute protection of their money & access to a perfectly competitive capital market & have as much access to information as anyone else within that market (see modigliani miller). this doesn't happen if banks are already investing people's money when they should just be protecting it.
give it any name you'd like, at least it avoids the moral hazard.
mxfactorial 2 years ago
I agree with you. What I was saying was that banking in its current form is bad, be it Conventional banking or Islamic banking. I'm for a monetary system that is completely interest free, but not interest free in the way Islamic banks pretend to be, because they are just fraud!
PersonOfBook 2 years ago
equilcurrency will be publishing a proposal aimed at the state of california for the purpose of making its fiscal activity completely transparent and easy to observe using a new kind of bank that does not engage in investment.
stay tuned.
mxfactorial 2 years ago
I agree with the fact that people should be more informed on what "banking" actually means, but I don't think nation-wide banks are going to offer sole protection of assets without investment anytime soon. Yes, this would prevent drastic freezing of the financial markets in the future, but at the cost of slower economic growth due to reduced investment. It's a "playing it safe" route that's better for the individual and not the whole. Interesting points, and please do make more videos!
emmastunes 2 years ago
"at the cost of slower economic growth due to reduced investment"
i see your point, but i'd like to submit for your consideration that if a 'bank' is entirely devoted to "protecting and measuring" all financial activity on behalf of all users (including investment), then the doors leading to the market for investment itself would be blown wide open since folks will be able to invest confidently knowing that the market for "return" is perfectly real no matter who is entering: hence equilcurrency.
mxfactorial 2 years ago
people don't even want to pay monthly checking fees or ATM fees. i don't know what incentive a bank or any other form of savings company would have to hold on to our money, if not for the return they make on whatever they invest our money in.
biguglytrux 2 years ago
the incentive comes in the form of collecting a service charge in return for operating a "system-accounting platform" that provides absolute clarity about all public financial activity taking place within the system. the exception being that private information is not disclosed, but if anyone wanted to know the real-time performance of an investment (taking place among users within the bank) or how much taxes are being collected/spent, then it would be as easy as a simple query. no more fraud.
mxfactorial 2 years ago
Could this be provided for a local government? I going to run for mayor of my region this year and this sounds just the thing that is needed. My plaform will be lowering rates and maximum accountability - all meetings will be videoed and put online.
Msoolala 2 years ago
Umm what about interest charges? - banks that is?
Msoolala 2 years ago
"Could this be provided for a local government?"
Yes, EQC will be submitting an abstract expected by the California Board of Equalization in the next few days detailing how it can immediately allocate all tax dues immediately to the state at the point of sale at no cost to the government. Enabling absolute fidelity to tax commitments and providing for immediate collection will most certainly push tax rates lower after current debts are paid;
the transparency will almost demand that they go down.
mxfactorial 2 years ago
No interest rates. Banks should not be involved in investment. They purpose should be to protect, provide userful information, and easy access to money -financial stewards.
EQC's website will disclose this material on their site shortly.
mxfactorial 2 years ago
Well, something needs to be done about it. Oh paranoids, don't start speculating about the mark of the beast. I know you will though. lol
aeon23 2 years ago
What you are really talking about is fractional reserve banking, demand-deposits and timed-deposits.
rumco 2 years ago
people are gullible my friend, and the number of responses on here shows how much interest people have in what directly affects their lives. You have all the answers my friend but we do not have the power. Great argument. Keep it up. peace
fixrifex 2 years ago
@fixrifex
"but we do not have the power" - it just seems that way because a lot of us still emulate our parents by using picket signs and megaphones -which don't affect people anymore.
"You have all the answers my friend" - and they're hardly verbal, picket signs are not my style.... if enough people switch from their conventional bank to equilcurrency, they'll do more in terms of changing the world than any amount of protesting can ever achieve: removing the blank check from "bankers".
thx btw
mxfactorial 2 years ago
You are spot on mxfactorial. I just believe a lot of people will do nothing about it, there have been depressions, recessions and crisis in the past (eg 1929). Today it's business as usual, people have fast forgotten the errors of the past.
fixrifex 2 years ago