European Central Bank - part 1
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@chockfish Stand up rather for an interest free 100% gold backed currency and kiss goodbye to global economic woes and national debt slavery.
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You're right. I hope one day they will destroy the ECB
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@AProbableAnomaly all truth. but thats not the worst thing about banks :-)
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The current turmoil in financial markets around the world is another illustration of the damage that can be done by a bloated and politically powerful financial sector, combined with finance ministers and central bankers who identify with this sector and have their own right-wing policy agenda.
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Basically central banks socialize losses and privatize profits for banking members. Banks risk money, when times are good they profit. When economy goes sour, no risk, and tax payers are on the hook, direct or hidden taxes like inflation etc. Bankers have access to unlimited supply of liquidity (elastic money supply), and we're all on the hook, while the banking cartel ensures profits for the banking elite. Banks accept irresponsible gamble profit, but pass on losses to the people, banks profit
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Awesome!
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This comes off as a one sided infomercial for banking interests, mixed with valid patriotism. If a privately owned central bank can create a fiat fractional reserve currency (can basically blimp a number on a computer screen), why can't a country create it's own money debt free? Central banks argue for more secretive regulatory powers, anything in the name of 'systemic risk'
AProbableAnomaly 2 years ago 8
The reasons pointed out in this video for having this currency are all for the ignorants, so it looks like the central bank was only made for sweetening up our life...ridiculous!!!!
If the ECB only puts an interest of only 1% on the currently existing Euro, which right now is about 10 trillion Euros, please calculate for yourself how much money this bank is demands from all of us that we'll never be able to pay back again! Now stand up for an interest-free currency!!!
chockfish 8 months ago 2