Consequences of Fractional Reserve Banking 1) Monopoly on the Supply of Money.mov
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@Isanion The reason in simple terms is that interest causes the requirement for ever increasing levels of credit to be issued. This both destroys the original value through interest(inflation) and predetermines that there will be an ever accelerating transfer of wealth from the primary producers (people and sweat equity) into the hands of corporations, banking and the system of state. This is no accident contrary to what Mr Baker asserts, but is a deliberate attempt to control all.
pondman27 1 month ago in playlist Uploaded videos
Looks as though those messages given to Stephen have been part of something he was learning about for some time. There is still though a complete absence for acknowledgement of the undeniable fault residing within the given paradigms discussed.
The practice of extracting the sweat equity of others through lending and usury is by definition slavery in varying degrees. Thus the entire edifice comprises of vested interests clinging to that old and deliberately imposed structure.
pondman27 1 month ago in playlist Uploaded videos
excellent introduction!!!
maximus2468 7 months ago
Money does not have to be made of debt. And there doesn't need to be a monopoly on creating money. It is the right of anyone to create money. It is also the right of everyone to choose what kind of money they will use.
georgedonnelly 7 months ago
I'm not all that economically savvy, so I have a question or 2:
Why is the economy dependent upon new money being created? Can't it exist on a stable level of money that circulates?
And, since adding more money doesn't add more value, doesn't it just mean that they're devaluing what we already posses - effectively meaning that value is being drained from the public into the banks? If so, is that essential to the economy? How does it help/support the economy?
Isanion 8 months ago
Well done! The matter is quite simple, and you make the point in a very straight forward way. Thanks!
anuttama 1 year ago