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Everything posted by Injin

  1. So, you think a bank nased upon the ability to steal/coerce is better than a bank or series of banks based upon real goods that people are willing to voluntarily trade. Again, I am not too sure about the logic of this position. If nothing else, the more you tax people, the less they produce so it's a net loss to the economy. Can you help me out a little? In fact, the bank of england has defaulted in the past, this is why we have fiat currency. When the bank of coercion falters, it's responsee to those it "owes" to is a simple "tough shit". Or, it can run the printing presses, and no one gets the value they were expecting or had traded for either. Again, can you help me. Oh, and can I ask why you think it's a good or beneficial idea to steal from people in the first place. I am puzzled. Thanks!
  2. Hmmm no. How about letting anyone who wants to open a bank? i.e. a free market. Quite why this would isolate us from the global economy I have to wonder? Can you help me out with that line of thinking please? I don't follow the logic. Removal of legal tender/banking law will sort the whole mess out in months, to the great benefit of the vast majority. Why do you think this can be otherwise? Bank notes are promissory notes to a substance that isn't there. How about building a system that based on promissory notes to s substance that is?
  3. Yup. Which no one has to accept, unlike the legal tender you just gave them. It's tricksy, isn't it!
  4. Well, you have to take into account he's publishing in a large circulation paper, that is held to know what it's talking about by far too many people. If he was to say "OH JESUS WE ARE TOAST". Then his editor would send it right back to him as irresponsible, and he would be right to do so. In a troubled time, the words of a few "experts" could swing the pendulum either way. That and the fact he's paid to protect big money's interests, and get the little guy into the system to buy just before the biggest crash in years.
  5. On the contrary, a total collapse of the financial system and it's replacement with multiple forms of money as opposed to one form of legal tender is the best course of action. This problem occured because of a monopoly foisted on people using fraud, coercion and bribery..sorry I mean government. Drop the pound, it'll sort itself out in weeks.
  6. According to Roger Beaton, the guy who answered my email about this at the BoE, you'd get a brand new £5 note. And if you tried to hand that one in, you'd be asked to leave for timewasting.
  7. That's a nice idea, shame that you'll all be slapped into a wagon by burly policemen 15 minutes after you start. That is if more than 3 of you "assemble". This collapse has been well prepared for.
  8. Legal tender is not the same as money. Anyone can produce infinite amounts of money. Only the bank of england can produce infinite amounts of legal tender. Legal tender HAS to be accepted by the person offered it, or the court system is not available for pursuing the debtor. "Offered a pound? Sorry mate you refused payment. " says judgey. "You took a piece of paper with £10,000 on it in black ink as payment but no legal tender changed hands? Sorry mate you accepted it as valuable", also says judgey. Bank money DOES NOT have to be accepted by anyone, anywhere, ever. It just generally and usually is, because most people think that £10,000 on a bank's screen = £10,000 in cash sat in a vault. This is why an institution such as northern rock can have billions of "pounds" and also be skint. Because the banks are all in their little cartel, they generally accept "screen money" or photons as payment from each other.. If Joe Public offers photons to the bank, the bank will refuse and demand legal tender, or photons from another bank (which will also demand legal tender from Joe Public). Things have ******ed up at the moment because the cartel has decided to stop playing ball with each other. The main problem is that it's all held together by public ignorance and court corruption. Once a critical mass of people roll up to the bank and ask for their "money" the bank can either confess what it's done, ask it's buddies in threadneedle street to run the presses, or default on almost everything. As defaulting on everything will nuke the whole scam for all banks AND the BoE, confessing all will lead to a life sentence and the wife/kids of bankers being spat at in the street, then any bank that gets into trouble WILL be bailed out. As is said around these parts, 100%, guaranteed. I hope this clears it up a little. ------------------------ loans. You go to bank, sign loan form agreeing to repay yadda yadda. Bank treats this as though it were a promissory note, adds the value of your "loan" to the asset side of it's books. i.e. - you sign form - Bank adds £10,000 of bank money to it's overall accounting. Or, accepts your signature for value. You withdraw money - bank is now even on it's books and back where it started. Bank now claims from you what it has "given" and "loaned" to you. If you pay them back on a £10,000 "loan", you have given them stuff to the value of £20,000 + interest. This is fraud. This is double billing. All banking is fraud.
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