How the banks create money

[Sceptic-PK]

psionl0 and s7eneyes understand the basic down to earth implications of FRB: slavery to one degree or another to the bankers.

If you're so scared by FRB then don't borrow money. Problem solved.

 

[respect]

Oh that reminds me I need to get another copy of the “Secrets Of the Federal Reserve”. The one I have the covers are worn out. I want to get a hard copy because this is a permanent book in my library. However, without question the books “The Creature From Jekyll Island” by Edward Griffin, “Primer on Money” by Wright Patman, and “The Case Against the Fed” by Rothbard, should be required reading for ALL high school students. You simply cannot let these students go into society without knowing this hard facts about our monetary system. Omitting this from the curriculum is the cruelest form of censorship. Without this course we are going to have a population that wont even know that their money is a Federal Reserve Note. Can you imagine?

Yes, and it is horrible. How, besides reading nonsense books, could anyone ever learn of this aspect of money that is clearly printed on it?

 

[psionl0]

psionl0 and s7eneyes understand the basic down to earth implications of FRB: slavery to one degree or another to the bankers.

Don't take the nonsense that drkitten says about me too seriously. He has no answer to my posts so he resorts to strawman arguments and ridicule.

For the record, FRB is not proof of a banking conspiracy nor does it mean that everybody is automatically in debt to the bankers (I have no debts myself). Debt is still something that you enter into voluntarily.

What FRB means is that our money supply is based mostly on nothing but promises. And with the increasingly reckless lending practices of the banks lately, that is something to be scared of.

 

[Loss Leader]

And with the increasingly reckless lending practices of the banks lately, that is something to be scared of.

So long as this post was written in 2006.

 

[Tippit]

For the record, FRB is not proof of a banking conspiracy nor does it mean that everybody is automatically in debt to the bankers (I have no debts myself). Debt is still something that you enter into voluntarily.

According to http://www.usdebtclock.org/ as of now, there is $45,177 of debt per US citizen, and $127,264 of debt per US taxpayer. Assuming that you're a taxpayer, you are on the hook for the servicing of this debt that politicians have created, and every effort will be made by the US government to coerce you into servicing it. Do you consider this voluntary?

 

[The Central Scrutinizer]

According to http://www.usdebtclock.org/ as of now, there is $45,177 of debt per US citizen, and $127,264 of debt per US taxpayer. Assuming that you're a taxpayer, you are on the hook for the servicing of this debt that politicians have created, and every effort will be made by the US government to coerce you into servicing it. Do you consider this voluntary?

Yes. You voluntarily stay in this country and thus are subject to the laws passed by the government.

You are free to move elsewhere.

 

[psionl0]

Assuming that you're a taxpayer, you are on the hook for the servicing of this debt that politicians have created

There is a lot I could say about politicians hocking a nations future to fund pork barreling activities. Unfortunately, I will have to wait until rule 10 is modified.

 

[djpar]

Yes. You voluntarily stay in this country and thus are subject to the laws passed by the government.

You are free to move elsewhere.

Moving elsewhere is not necessarily going to get it done.

I am a US citizen living overseas for the last 4 years and I would be hard pressed to ever give up my US passport.

That's what it would take to avoid paying US taxes (ie; getting off the hook for your share of the US debt).

Of course, if the Treasury concludes that the reason you did so was to avoid paying income taxes, the law is that they can tax you for 10 years.

 

[drkitten]

Moving elsewhere is not necessarily going to get it done.

I am a US citizen living overseas for the last 4 years and I would be hard pressed to ever give up my US passport.

That's what it would take to avoid paying US taxes (ie; getting off the hook for your share of the US debt).

Depends on where you move to....

 

[djpar]

Depends on where you move to....

Like where? Are you telling me as a US citizen you can move to certain countries and not be obligated to pay income taxes?

Or are you talking about moving to 6 feet under?

 

[drkitten]

Like where? Are you telling me as a US citizen you can move to certain countries and not be obligated to pay income taxes?

You're only "obliged" to do what can be enforced. If the country in question has no extradition treaty for tax evasion, the US can simply whistle for its money.

 

[djpar]

You're only "obliged" to do what can be enforced. If the country in question has no extradition treaty for tax evasion, the US can simply whistle for its money.

Ah, I see what you are doing. Nitpicker.

I'll stick with what I said originally then... it's not necessarily going to get it done.

Legally, and if you want to ever return to the US, you have to pay your taxes as a US citizen.

You may qualify for certain tax credits, but if you make any real money its only a small consolation.

 

[djpar]

BTW, I did not intend to derail the thread.

I do have a question for Dr Kitten or anyone else. There have been several books mentioned on FED conspiracy or whatnot... Other than the PDF you posted, what recommendations do you have for some good books on the FED / FRB?

 

[drkitten]

I do have a question for Dr Kitten or anyone else. There have been several books mentioned on FED conspiracy or whatnot... Other than the PDF you posted, what recommendations do you have for some good books on the FED / FRB?

Not here in the conference hotel room, no. Ask me again in a week or two.

 

[The Central Scrutinizer]

BTW, I did not intend to derail the thread.

I do have a question for Dr Kitten or anyone else. There have been several books mentioned on FED conspiracy or whatnot... Other than the PDF you posted, what recommendations do you have for some good books on the FED / FRB?

I believe there's a lot of info about the Fed, how it works and its history on the Federal Reserve website - http://www.federalreserve.gov/

Of course, this is the NWO Jewish Conspiracy version.

 

[djpar]

I believe there's a lot of info about the Fed, how it works and its history on the Federal Reserve website - http://www.federalreserve.gov/

Of course, this is the NWO Jewish Conspiracy version.

Thanks TCS, but I'm talking about books.

Friedman and Schwartz's: A Monetary History of the United States
Meltzer's: A History of the Federal Reserve
etc.

I'm not a CT'r and my first career was investment banking where I was a FinOp principal of an NASD b/d.

I'm not a trained economist, but I have been around a great many of them. I was curious what books trained economists might recommend as I enjoy reading and with the current crisis and exposure, it has peaked my interest.

 

[psionl0]

The most respected book in this forum seems to be Modern Money Mechanics.

 

[Loss Leader]

According to http://www.usdebtclock.org/ as of now, there is $45,177 of debt per US citizen, and $127,264 of debt per US taxpayer. Assuming that you're a taxpayer, you are on the hook for the servicing of this debt that politicians have created, and every effort will be made by the US government to coerce you into servicing it. Do you consider this voluntary?

Didn't you participate in the democratic election of those politicians? If so, it's voluntary.

 

[Chaos]

There is a lot I could say about politicians hocking a nations future to fund pork barreling activities. Unfortunately, I will have to wait until rule 10 is modified.

There is a lot I could say about people who vote for politicians that use pork barrel, and then complain about said politicians.

 

[The Central Scrutinizer]

Didn't you participate in the democratic election of those politicians? If so, it's voluntary.

Another good point.

That was one of my favorite things about the teabaggers - they were screaming "taxation without representation!!!" - not more than 3 months after a national election. And they wonder why people laugh at them.