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David Icke On The Credit Crunch

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I'm not an Icke fan - in fact I looked him up to see if I could find any theories about the credit crunch which involves aliens or lizards.

Fast forward to 2:17:27 for David Ickes take on the wheres and whyfores of the credit crunch. I'll let you judge for youself.

http://www.edgemediatv.com/icke/

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Guest sillybear2

He doesn't understand the fractional reserve system, banks can lend out ~90% of the deposit then 90% of that once it has been redeposited, but he suggests they can directly lend out x10 each cycle, then x10 when it's deposited again, not true.

If that were true ask yourself why NR collapsed.

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Like everything else he says...a complete bunch of cobblers.

I'm paraphrasing here but Icke said 'Bush, Blair, Brown, all politicians, the local EA, all banks are total asswipe, mo**** f**** paedos who like to drink blood'

Clearly, you are mistaken X-Quork.

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I'm not an Icke fan - in fact I looked him up to see if I could find any theories about the credit crunch which involves aliens or lizards.

Fast forward to 2:17:27 for David Ickes take on the wheres and whyfores of the credit crunch. I'll let you judge for youself.

http://www.edgemediatv.com/icke/

Gotta be honest...some of it makes sense....he'd get my vote....at least he ain't one of those boring farts with as much enthusiasm as a dried prune.

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He doesn't understand the fractional reserve system, banks can lend out ~90% of the deposit then 90% of that once it has been redeposited, but he suggests they can directly lend out x10 each cycle, then x10 when it's deposited again, not true.

If that were true ask yourself why NR collapsed.

Im afraid that lending out 90% of your deposits creates no money whatsoever. It creates a series of balances in bank accounts.

He has a point.

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I'm about half way through this vid so far and (surprisingly) it pretty much all makes sense. I'm expecting him to start talking about shape shifting lizards any moment though :P

Why hasn't he mentioned the lizards yet?

Has he ever actually talked about lizards or do people just say that he talks about lizards to discredit him?

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I'm about half way through this vid so far and (surprisingly) it pretty much all makes sense. I'm expecting him to start talking about shape shifting lizards any moment though :P

Why hasn't he mentioned the lizards yet?

Has he ever actually talked about lizards or do people just say that he talks about lizards to discredit him?

Don't tell Steve before he sees the video.

Oh no, Mr Icke, oh dear.

:angry:

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He doesn't understand the fractional reserve system, banks can lend out ~90% of the deposit then 90% of that once it has been redeposited, but he suggests they can directly lend out x10 each cycle, then x10 when it's deposited again, not true.

If that were true ask yourself why NR collapsed.

this might help. Go to 2min20sec

http://www.youtube.com/watch?v=hfXavRTM4Fg

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I recommend reading the Icke's books if you want to max out on conspiracy! Start there and everything else seems boring in comparison. Bit like planning on getting into alcohol and starting on a 2 litre vodka-fest. Beer is dull after that.

To be fair (and don't ask me to quote them I haven't got time) most of the (once considered mad) things he predicted in his firs ('94?) book have come true. Just tune out the lizards and paedo-geddon goings-on and it all looks rather prophetic.

I enjoyed 'Tales from the Time Loop' very much. It was great.

http://www.amazon.co.uk/Tales-Time-Loop-Co...7167&sr=8-1

Edited by 29929BlackTuesday

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Gotta be honest...some of it makes sense....he'd get my vote....at least he ain't one of those boring farts with as much enthusiasm as a dried prune.

He would get my vote as well.

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Guest sillybear2
Im afraid that lending out 90% of your deposits creates no money whatsoever. It creates a series of balances in bank accounts.

He has a point.

Indeed true, but that's more a function of us being a cashless society, even if the banks were to go from digits > paper > digits it wouldn't affect the operating of the FRB system. Anyway, normal deposits are not "high power money", a bank cannot instantly lend out x10 a deposit at the first instance.

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I'll normally listen all the way through a David Icke lecture. I'll normally start to nod off somewhere in the second hour. However, in this one he gets on a bit of a monotonous rant and I couldn't nod off. So, I turned it off!

-_--_--_--_-:o

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Indeed true, but that's more a function of us being a cashless society, even if the banks were to go from digits > paper > digits it wouldn't affect the operating of the FRB system. Anyway, normal deposits are not "high power money", a bank cannot instantly lend out x10 a deposit at the first instance.

They dont need money as a deposit: they take the deeds to your house.

the banking system is a money manufacturing operation. It takes worthless pieces of paper and assigns value to them by promising to pay something in return.

trouble is, the money we have these days is backed only by more money. Its only the value of what it is loaned against that gives uit any value at all.

And, as most money created was lent against the property market in recent years, i dread to think how much deflation we are in for.

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'Money As Debt' has it wrong too, as has been thrashed out numerous times on this site.

It would be true if a 10% reserve was required. However in reality (and this depends on the country etc) banks can create million of dollars of bank credit with no reserves whatsoever.

http://www.federalreserve.gov/monetarypoli...ereq.htm#table1

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Guest sillybear2
They dont need money as a deposit: they take the deeds to your house.

In exchange for providing you a loan, in real money. If banks can print money at will ask yourself why NR, B&B are in the sorry position they are in, why every other bank are doing right-issues or begging sovereign wealth funds for cash injections? Why banks are offer >7% for deposits? In your world why would they need deposits or tier one capital at all, they could lend from thin air. More generally, if banks could magic money out of thing air why have the Fed, BoE and ECB created special liquidity schemes? Why would there be a credit crunch at all?

I thought we had got past the dumb ass interpretations of FRB on this site, seems not.

Edited by sillybear2

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Guest sillybear2
It would be true if a 10% reserve was required. However in reality (and this depends on the country etc) banks can create million of dollars of bank credit with no reserves whatsoever.

They still need original capital to lend out, even if 0% is kept in reserve. Take all those SIV's out there (like NR's Granite), they have (had) to borrow using revolving 3-6 month paper in order finance their longterm mortgage lending, they couldn't magic money out of thing air, even if the reserve requirements of the SIV were zero.

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Lizard's and aliens would be a welcome relief to the current government and quite possibly could have done a better job with the economy than the Badger and Gordo.....! :rolleyes:

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  • 401 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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