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Did you know banks create money when giving a loan?
LoP Guest
lop guest
User ID: 441610
07-13-2019 04:29 AM

 



Post: #76
RE: Did you know banks create money when giving a loan?
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Jack Burton  Wrote: (07-13-2019 04:17 AM)
OLoP Guest  Wrote: (07-13-2019 03:14 AM)
There is not enough new Gold being mined to meet the demand for new money, so it must be supplied from other sources and methods.

The current system of money creation is based on people, human beings, and NOT rocks dug up from the ground.

Human lives are far, far more precious than gold ever will be.

I hate to be the bearer of bad news because it sounds cold...

Value is based on abundance or scarcity.

We have an abundance of cheap, human capital...this is why wages are low.

The more you have of something, the less it is worth

Cold hard reality

When you have 1 baker in a town, he is worth a lot.. when you have 15...not so much

That is true for goods and services. The supply of money is another matter.

As far as 'human capital'-- their labor is different than their knowledge or ingenuity.

Hard to explain in simple terms, but as an example the 'software' or 'code' on a CD is worth far more than the CD itself.

Software is far more valuable than hardware.

A gold standard system is one based on 'hardware'. The 'full faith and credit' system used by the United States today is based on the notion of 'software'.

How could a 'hardware' based system be better than a 'software' based system? - so-to-speak
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LoP Guest
lop guest
User ID: 441610
07-13-2019 04:31 AM

 



Post: #77
RE: Did you know banks create money when giving a loan?
Jack Burton  Wrote: (07-13-2019 04:17 AM)
OLoP Guest  Wrote: (07-13-2019 03:14 AM)
There is not enough new Gold being mined to meet the demand for new money, so it must be supplied from other sources and methods.

The current system of money creation is based on people, human beings, and NOT rocks dug up from the ground.

Human lives are far, far more precious than gold ever will be.

I hate to be the bearer of bad news because it sounds cold...

Value is based on abundance or scarcity.

We have an abundance of cheap, human capital...this is why wages are low.

The more you have of something, the less it is worth

Cold hard reality

When you have 1 baker in a town, he is worth a lot.. when you have 15...not so much

Also, what you are describing is more Micro Economics than Macro Economics.

True what you have stated but only in Micro Economic terms.
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LoP Guest
lop guest
User ID: 479501
07-14-2019 12:52 PM

 



Post: #78
RE: Did you know banks create money when giving a loan?
Actually that's not true. I spoke to someone high in the Fed Reserve...or in a Bank.. don't remember. I ran this rumor past him... He said that everything has to go through the Fed Reserve... key word- Reserve... They control when, and how much money is printed.

Anon
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LoP Guest
lop guest
User ID: 503323
07-14-2019 02:50 PM

 



Post: #79
RE: Did you know banks create money when giving a loan?
LoP Guest  Wrote: (07-11-2019 10:53 PM)
Yes, I knew.

I keep telling people how insane it is. Nobody listens.

I knew also,and since then,which was a long time ago,I have never had much money now that you mention it.
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LoP Guest
lop guest
User ID: 507561
07-14-2019 03:07 PM

 



Post: #80
RE: Did you know banks create money when giving a loan?
Kind of like the way my ass just creates brown stuff out of food right??
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LoP Guest
lop guest
User ID: 441610
07-14-2019 11:29 PM

 



Post: #81
RE: Did you know banks create money when giving a loan?
assets = liabilities(debt) + capital(equity)

1 = 1 + 1

CAPITALISM
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Luvapottamus
Registered User
User ID: 372884
07-15-2019 05:35 PM

Posts: 9,379



Post: #82
RE: Did you know banks create money when giving a loan?
Fractional reserve lending isn't a problem.

chuckle

It's a valuable innovation.

It has to be used within a well regulated banking system, but the regulation of the system is where the problems arise not the fractional reserves.

If you want a gold backed system with 100% reserves you're handicapping the economy to the arbitrary rate of gold mining.

If you really wanted to base a currency on a metal, and practice full reserve, and have the money supply be compatible with productivity,

You'd back the money with nuclear waste.

chuckle

Depleted uranium.

There is no such thing as sovereign debt. Reinstate Greenbacks.
http://www.youtube.com/watch?v=Vb5OQUElilo
Tax Wallstreet Party
United Front Against Austerity
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LoP Guest
lop guest
User ID: 442897
07-15-2019 05:38 PM

 



Post: #83
RE: Did you know banks create money when giving a loan?
Fractionalized Reserve Banking, now if everyone goes to withdraw at the same time, only a 10th of deposits on hand at any one time. The people would not bee too happy, eh?
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Luvapottamus
Registered User
User ID: 372884
07-15-2019 05:39 PM

Posts: 9,379



Post: #84
RE: Did you know banks create money when giving a loan?
LoP Guest  Wrote: (07-15-2019 05:38 PM)
Fractionalized Reserve Banking, now if everyone goes to withdraw at the same time, only a 10th of deposits on hand at any one time. The people would not bee too happy, eh?

No, but we have protections against bank runs.

Plus if you withdraw it from one bank and deposit it into another....

Guess what happens...

chuckle

There is no such thing as sovereign debt. Reinstate Greenbacks.
http://www.youtube.com/watch?v=Vb5OQUElilo
Tax Wallstreet Party
United Front Against Austerity
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LoP Guest
lop guest
User ID: 442897
07-15-2019 05:52 PM

 



Post: #85
RE: Did you know banks create money when giving a loan?
Going back to the gold standard, that is why the World Banks are gathering Gold at record paces. Digital will have to be backed by Gold.
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Luvapottamus
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User ID: 372884
07-15-2019 05:59 PM

Posts: 9,379



Post: #86
RE: Did you know banks create money when giving a loan?
LoP Guest  Wrote: (07-15-2019 05:52 PM)
Going back to the gold standard, that is why the World Banks are gathering Gold at record paces. Digital will have to be backed by Gold.

lol

There is no such thing as sovereign debt. Reinstate Greenbacks.
http://www.youtube.com/watch?v=Vb5OQUElilo
Tax Wallstreet Party
United Front Against Austerity
Quote this message in a reply
LoP Guest
lop guest
User ID: 442897
07-15-2019 06:00 PM

 



Post: #87
RE: Did you know banks create money when giving a loan?
Luvapottamus  Wrote: (07-15-2019 05:59 PM)
LoP Guest  Wrote: (07-15-2019 05:52 PM)
Going back to the gold standard, that is why the World Banks are gathering Gold at record paces. Digital will have to be backed by Gold.

lol

No manipulation,chuckle
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Luvapottamus
Registered User
User ID: 372884
07-15-2019 06:04 PM

Posts: 9,379



Post: #88
RE: Did you know banks create money when giving a loan?
LoP Guest  Wrote: (07-15-2019 06:00 PM)
Luvapottamus  Wrote: (07-15-2019 05:59 PM)
lol

No manipulation,chuckle

Yeah right.

Who owns the gold mines?

lol

There is no such thing as sovereign debt. Reinstate Greenbacks.
http://www.youtube.com/watch?v=Vb5OQUElilo
Tax Wallstreet Party
United Front Against Austerity
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