Comments on: Money as Debt

By: Music, Mates and Money « gekko girl

Music, Mates and Money « gekko girl — Thu, 28 May 2009 22:29:37 +0000

[...] please take a couple of minutes to visit my mate who is talking about money here – http://uniteddiversity.com/money-as-debt/ one day I will work out how I can post up [...]

By: Scott Keller

Scott Keller — Wed, 14 Jan 2009 18:43:11 +0000

No matter what terms you apply to various aspects of this banking phenomenon, it is still a gigantic scam pulled off by the few to get the money of the many and keep it flowing that way until there’s no more money to flow and the bankers own everything. Pretty cool if you’re at the top of the banking chain. Not so cool if you’re not. I’m going to do something about it when I get to Congress in 2010 and in the meantime engage in a huge information dispersement campaign to make as many people aware as possible about the flaws in the monetary system that will absolutely prevent a large segment of society from ever getting above where they currently are economically.

By: Josef

Josef — Tue, 06 Jan 2009 12:10:28 +0000

Perhaps you’d like to more fully explain what you are talking about? Either way, can you not see that if a bank only has to have a tiny fractional reserve of what you are calling “broad money” it is still in effect creating money when it issues loans? Especially when that money is then deposited in another bank, ad infinitum, etc. I’m aware there are some technical inaccuracies in the video, but the essence of it is stop on. At least, it fits my understanding with how things work, and I’ve discussed stuff with leading academic professors of banking and they seem to agree.

By: Dont Believe the propaganda

Dont Believe the propaganda — Sun, 04 Jan 2009 14:26:56 +0000

THIS VIDEO IS INCORRECT! IT IS PROPAGANDA. It fails to make the distinction between narrow money and broad money correctly. Narrow money is the settlement asset. Banks CANNOT create this. Broad money is only the store of value and unit of account. This is the only think a bank will create. When you ’spend’ money from you bank account into the economy the bank has to come up with the narrow money.

By: Jagmeet Singh Hanspal

Jagmeet Singh Hanspal — Fri, 07 Nov 2008 11:38:49 +0000

The video and its content is totally correct.
Please also refer to following, if you have any doubts left:
http://reactor-core.org/billions.html

Regards,
~
Jagmeet
http://www.linkedin.com/in/hanspal
~

By: Tam

Tam — Tue, 04 Nov 2008 15:39:35 +0000

It seems there is a lot of confusion over fractional reserve banking, so I’ve built a simple javascript model to show how it works:

http://www.novapoly.com/articles/finance/federal-reserve-banking-model/

Yes, with a reserve ratio of 10% say, the banking system does only lend $90 from a deposit of $100. This $90, however, is eventually redeposited into the banking system (whether it is the same bank or not is irrelevant). As a result, a further $81 is lent out. This process repeats until the amounts approach zero. See the model for more detail – try putting your own numbers in.

By: Money | united diversity

Money | united diversity — Mon, 27 Oct 2008 21:06:31 +0000

[...] Comments Josef on Money as DebtMoney | united diversity on Money downloadsMoney downloads | united diversity on [...]

By: Josef

Josef — Mon, 27 Oct 2008 17:39:30 +0000

There has been some really good in depth discussion about Money as Debt over on the rippleusers mailing list:

http://groups.google.com/group/rippleusers/browse_thread/thread/d8c30cdb053a2493/6cd560d3ba2a9a44

There are also lots of good discussions about Interest:

http://groups.google.com/group/rippleusers/browse_thread/thread/52e066e6ce783efe/b018e2708b82a157

http://groups.google.com/group/rippleusers/browse_thread/thread/9b77d83b4c637815/c4b31b3430427dd3

http://groups.google.com/group/rippleusers/browse_thread/thread/b0154c4cac6dc18d/537f6d903cf986f6

Enjoy!

By: More money books | united diversity

More money books | united diversity — Mon, 27 Oct 2008 15:53:46 +0000

[...] Comments joe magner on Money as DebtJohn Williams on Money as Debtroland on The Permaculture [...]

By: joe magner

joe magner — Mon, 13 Oct 2008 20:52:26 +0000

Suman on Aug 27. You are correct that the bank has the 10% reserves..but you foget that the reserves say the bank only has to hold 10% so 190 bucks was deposited there remains only 19 dollars in the vault.

100 bucks in – 90 bucks out = 10 bucks in the vault
90 bucks in and 81 bucks out = 9 bucks in the vault

money held by enteries in a savings books = 190 bucks
money loaned out to be collected = 181 bucks in two loans
money held in the bank vault = 19 bucks

so there is still a total of 100 REAL dollars.
there is a total of presumed money in the system of:

the loans were made sequencially as were the deposits which confuses things.

the total cash in the system is still only 100 bucks because the first loan of 90 dollars, not paid off yet, was returned to the bank and then 81 dollars loaned out so that the 81 dollars is somewhere in the society and the 19 dollars still in the vault show that the total REAL dollars is still 100 total but the system thinks there is a total of:
there is a total of PRESUMED money in the system of:

190.00 – owed by bank on call in books for savings entries
181.00 – loans the banker is yet to collect
19.00 – real bucks in the vault
————————————-
390.00 – total presumed money

and this is not even counting interest!!!!!

it is not wrong to charge interest on a loan, as stated there is a risk that the loan will be defaulted on and there is also the time and labor to handle the transactions and the interest to pay the savers…………these ADD to the presumed money and must come from OUTSIDE this little triangle if all is to eventually settled up.

AND THAT IS THE PROBLEM.

if we widen the circle large enough to cover all transactions we find lots of time delays and other issues but the same fundemental problem – there is more money effectively created on the BOOKS then the is REAL MONEY in the system……someone will eventually loose.

It is not that it is evil – it is just the way a central banking system works and why there are issues every so often and debt re-alignment and retirement and distruction has to take place.

before you yell at me about being a socialist or a communist i want to state I AM A CAPITALIST having run business of my own and hopeful will have one up and running when I retire from Oregon State Univ in a couple years………assuming the both the petty capitalist and petty socialist and petty communists of the world have not distroyed it arguing over IDIOLOGIES and unable to face the facts of how a currency system works.