creature from Jekyll Island 10 of 12
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The average person is too dumb to understand any of this. Can you put it into a cartoon, comic, or beer commercial?
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Get your money into gold while its still legal!
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@PresAndrewJackson Yes, when the Treasury sells a bond, bill or note, they're obligated to pay it back.
Yes, they pay interest on those securities. Yes, that debt is created. Just like GE creates debt when they sell a bond. So what?
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@PresAndrewJackson Yes, if they borrower puts the $90 into another account, that $90 allows an $81 loan.
In each case, the loan is smaller than the deposit that supports it.
In neither case is the bank creating money out of thin air.
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@PresAndrewJackson No, regional banks cannot lend out money they do not have.
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@jimmyrtle Treasury notes, bills and bonds are obligation papers. Debt papers. From the moment this debt comes into existence interest debt is being accumulated. Interest is charged on loans. The Government loans from a bank. The bank loans to a Government.
So yes you could say Government 'sells' to the bank, but the exact thing they are selling is their promise to pay. It is literally creating debt. Just like me writing on a piece of paper that i legally owe you $100 just because i declare so.
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@jimmyrtle And that very same $90 loan is then deposited in an account. This same $90 then allows a $81 loan, summing up to a total $171 in liability which already exceeds the $100 deposit/asset and it doesn't stop there, it goes on and on. And this is dealing with only $100, imagine this process with the typical astronomical values banks usually deal with.
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@jimmyrtle Regional banks do too, it is called 'Fractional Reserve Banking'. It is the practice of lending out money that you don't have. The 'promise' becomes the credit.
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@PresAndrewJackson "So summarized: a bank loans money to a government"
Government doesn't take loans from banks, they sell Treasury Notes, bills and bonds.
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OMG!!,, United States citizens have been slaves to the Bankers for a long time.
bjarnet3 2 years ago 28
G-d bless you for doing this series.
CJDfromJTF 3 years ago 18