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Did you know that all banks simply create a "Debit" account on all your loans?
UnAcceptance
Registered User
User ID: 1337
01-04-2018 02:27 AM

Posts: 713



Post: #16
RE: Did you know that all banks simply create a "Debit" account on all your ...
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Money, the root of all human evil.
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LoP Guest
lop guest
User ID: 1337
01-04-2018 03:56 AM

 



Post: #17
RE: Did you know that all banks simply create a "Debit" account on all your ...
Dr. Woo  Wrote: (01-03-2018 07:00 AM)
CyberDan  Wrote: (01-03-2018 04:40 AM)
Why doesn't the public have the power to create money out of "Thin Air"... nothing at all. Why cant we create "Debit Accounts" for bills owed?

If one entity or banks have that power, what makes them special to be able to do that when we, the public do not?

Just a thought, the banks are no better than WE the PEOPLE!

Remember the time when the BANKS and BIG corporations got BAILED out when the public didn't receive anything at all?

Guess who paid for it all... YOU AND ME, the TAXPAYER!

https://www.youtube.com/watch?v=kIjbMRU1EgU
Because if that was the case nobody would lift a finger to get sh*t done silly

Yet before money came along. humans managed to feed themselves. Children still do stuff, without getting a paycheck. In fact people seem to slow down around the type they start having to work for a paycheck.

There are still tribes who do all they need to live, yet get no paycheck.

What of going to watch game, or shop for food? Who pays you to do that? Who pays you to clean your car, your home, yourself? Does that happen because you get paid to do it?

All those joggers, who pays them to jog? Who pays people to go to the gym?
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LoP Guest
lop guest
User ID: 1337
01-04-2018 03:59 AM

 



Post: #18
RE: Did you know that all banks simply create a "Debit" account on all your ...
A debit account is part of "accounts receivable", same as any business runs for payments due. It's part of "assets" on the balance sheet.
The interest is the profits a bank makes.
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LoP Guest
lop guest
User ID: 1337
01-04-2018 04:06 AM

 



Post: #19
RE: Did you know that all banks simply create a "Debit" account on all your ...
Thankfully we can get loans, the world would suck if we couldn't.
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Dr. Woo

User ID: 53145
01-04-2018 04:06 AM

Posts: 525



Post: #20
RE: Did you know that all banks simply create a "Debit" account on all your ...
LoP Guest  Wrote: (01-04-2018 03:56 AM)
Dr. Woo  Wrote: (01-03-2018 07:00 AM)
Because if that was the case nobody would lift a finger to get sh*t done silly

Yet before money came along. humans managed to feed themselves. Children still do stuff, without getting a paycheck. In fact people seem to slow down around the type they start having to work for a paycheck.

There are still tribes who do all they need to live, yet get no paycheck.

What of going to watch game, or shop for food? Who pays you to do that? Who pays you to clean your car, your home, yourself? Does that happen because you get paid to do it?

All those joggers, who pays them to jog? Who pays people to go to the gym?
That all sounds cool but try using that as an excuse to someone who wants their money. Unfortunately none of this is going away anytime soon
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LoP Guest
lop guest
User ID: 1337
01-04-2018 04:09 AM

 



Post: #21
RE: Did you know that all banks simply create a "Debit" account on all your ...
Tis true. A federal or state bank charter is a license to print money. That's how money is created. It also gets destroyed as the loan is paid back or the borrower takes bankruptcy.

The problem is that you always have to print more than is paid back because otherwise there would be no money to pay the interest.

So the fed has to control the amount of money creation to insure its increasing at a small rate rather than large rate which would be inflation and call for tightening.

If the yield curve is normal its easier for the bank to loan to the fed at zero risk.

Also the bank has to keep a certain amount of money from bank deposits.

Somehting like that.

I once asked a banker and he was really cagey about it.
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LoP Guest
lop guest
User ID: 1337
01-04-2018 04:10 AM

 



Post: #22
RE: Did you know that all banks simply create a "Debit" account on all your ...
Did you know Rome owns the IMF. And claims all the land and people as hers. Did you know the princess on the beast originally named DC, Rome Maryland. Do you even know bro?
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LoP Guest
lop guest
User ID: 1337
01-04-2018 05:44 AM

 



Post: #23
RE: Did you know that all banks simply create a "Debit" account on all your ...
OP is correct about how loans are created, however the loans are then sold off to investors. So in a round-about way, the investors are loaning the money.

But, is there someone in this transaction who ends up with more benefit from this, than their effort/risk/work/innovation/skills warranted?

Absolutely. The owners of the banks get a huge return for paying a loan officer a very modest salary in order to create this money out of thin-air, enter it all into a computer system, then sell it to investors for an amount that can't be justified by what these owners actually did. This special privilege of creating new money should not be in their hands.
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LoP Guest
lop guest
User ID: 1337
01-04-2018 06:05 AM

 



Post: #24
RE: Did you know that all banks simply create a "Debit" account on all your ...
LoP Guest  Wrote: (01-03-2018 07:30 AM)
LoP Guest  Wrote: (01-03-2018 07:11 AM)
Not true at all. Banks are required to hold reserves against any loans issued. Haven't checked it out for years and info is hard to find but reserves range between 10% and 5% traditionally.

Banks do create 90-95% of their loan capital out of thin air in exchange for a few % interest (much more on credit cards) but they also risk 5-10% of their own real money.

With borrowers being almost entirely subprime it isn't the cash cow it used to be.

It's 10% and I'm not sure it qualifies as their money if it's money deposited by customers.

I find it a little strange for you to say in one sentence, "it isn't true" followed shortly by "Banks do create 90-95% of their loan capital out of thin air".

Even the 10% reserve originates from thin air. There is nothing tangible backing our currency, just centuries of conditioning.

No, there is something.

Banks have 5%-10% skin in the game because they have to invest in gov.us bonds that act as reserves for these loans.

To say they have no skin in the game is like saying money has no value. But I buy food and gas daily with that no value money.
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LoP Guest
lop guest
User ID: 1337
01-04-2018 04:10 PM

 



Post: #25
RE: Did you know that all banks simply create a "Debit" account on all your ...
Dr. Woo  Wrote: (01-04-2018 04:06 AM)
LoP Guest  Wrote: (01-04-2018 03:56 AM)
Yet before money came along. humans managed to feed themselves. Children still do stuff, without getting a paycheck. In fact people seem to slow down around the type they start having to work for a paycheck.

There are still tribes who do all they need to live, yet get no paycheck.

What of going to watch game, or shop for food? Who pays you to do that? Who pays you to clean your car, your home, yourself? Does that happen because you get paid to do it?

All those joggers, who pays them to jog? Who pays people to go to the gym?
That all sounds cool but try using that as an excuse to someone who wants their money. Unfortunately none of this is going away anytime soon

Non sequitur.

I was disputing your claim that people would do nothing without the incentive of money.
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LoP Guest
lop guest
User ID: 1337
01-04-2018 04:23 PM

 



Post: #26
RE: Did you know that all banks simply create a "Debit" account on all your ...
LoP Guest  Wrote: (01-04-2018 06:05 AM)
LoP Guest  Wrote: (01-03-2018 07:30 AM)
It's 10% and I'm not sure it qualifies as their money if it's money deposited by customers.

I find it a little strange for you to say in one sentence, "it isn't true" followed shortly by "Banks do create 90-95% of their loan capital out of thin air".

Even the 10% reserve originates from thin air. There is nothing tangible backing our currency, just centuries of conditioning.

No, there is something.

Banks have 5%-10% skin in the game because they have to invest in gov.us bonds that act as reserves for these loans.

To say they have no skin in the game is like saying money has no value. But I buy food and gas daily with that no value money.

That's exacty what I'm saying. It's only value is the pretend value we give to it.

For example, the moment you take a piece of that paper currency outside it's borders, you have to have a new, expressed agreement with any individual you wish to trade with, using that paper. If you cannot find someone who agrees to accept it as payment, it loses it's value as anything but bonfire fuel.

An apple is an apple, is an apple, is an apple. No matter where you go on the planet it has value as food. Coins at least have the intrinsic value of the metal they're made from.

Paper money? What value does it have if people refuse it as payment?

Now we have electronic money, which doesn't even have the value of paper. It simple doesn't exist other than as pixels on a screen.

Want to assess the real value of something? Imagine you're alone on a desert island, what value would it be to you?
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LoP Guest
lop guest
User ID: 1337
01-04-2018 04:24 PM

 



Post: #27
RE: Did you know that all banks simply create a "Debit" account on all your ...
LoP Guest  Wrote: (01-04-2018 04:06 AM)
Thankfully we can get loans, the world would suck if we couldn't.

The world sucks because we need loans.
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LoP Guest
lop guest
User ID: 1337
01-04-2018 04:25 PM

 



Post: #28
RE: Did you know that all banks simply create a "Debit" account on all your ...
LoP Guest  Wrote: (01-04-2018 04:09 AM)
Tis true. A federal or state bank charter is a license to print money. That's how money is created. It also gets destroyed as the loan is paid back or the borrower takes bankruptcy.

The problem is that you always have to print more than is paid back because otherwise there would be no money to pay the interest.

So the fed has to control the amount of money creation to insure its increasing at a small rate rather than large rate which would be inflation and call for tightening.

If the yield curve is normal its easier for the bank to loan to the fed at zero risk.

Also the bank has to keep a certain amount of money from bank deposits.

Somehting like that.

I once asked a banker and he was really cagey about it.

Because he knows it's a scam.
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Heir
lop guest
User ID: 1337
01-04-2018 04:27 PM

 



Post: #29
gmorning RE: Did you know that all banks simply create a "Debit" account on all your ...
King Doom  Wrote: (01-03-2018 04:25 AM)
They loan you the money other people put there..

Jptdknpa

[Image: serveimage?url=http%3A%2F%2Ft0.gstatic.c...che=391679]
https://s15-us2.ixquick.com/cgi-bin/serv...che=391679
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Heir
lop guest
User ID: 1337
01-04-2018 04:42 PM

 



Post: #30
gmorning RE: Did you know that all banks simply create a "Debit" account on all your ...
Seriously . Tom Schauf laid this Bank Racket all out .

https://archive.org/stream/pdfy-xQZvcHar...)_djvu.txt

Here is the inside workings of Bank Accounting and how it is not in line with GAAP - Generally Accepted Accounting Principles .

https://archive.org/stream/TopSecretBank...2_djvu.txt
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