Currency Contortion Conundrum

[JBM]

-The four Horseman-A eye opening watch

https://www.youtube.com/watch?v=5fbvquHSPJU

97% of all money in circulation is DEBT!!

[Bob Kane]

97% of all money in circulation is DEBT!!

yawn and *sigh*

[spaceman]

Fixed it for you

-The four Horseman-A eye opening watch

https://www.youtube.com/watch?v=5fbvquHSPJU

100% of all money in circulation is ........wait for it ............money!!!!!!!

Cheers
Spaceman

[drelly]

-The four Horseman-A eye opening watch

https://www.youtube.com/watch?v=5fbvquHSPJU

97% of all money in circulation is DEBT!!

But I buy a house with the money, so it's backed by a house

[JBM]

Fixed it for you.......................................

PRIVATELY-CREATED MONEY
Privately-created money -- sometimes called "debt-based money" is money created by private organisations for their own private profit and which benefits nobody but themselves.

These private organisations are the High Street banks, that is to say, the commercial banks -- all the banks other than the nation's Central Bank.

As we said, 3% of the money is created by the Central Bank as a publicly-created, debt-free input to the public purse. The other 97% of money in circulation is created by the private banking system as a debt, and consists merely of electronic digits -- like your mortgage or overdraft.

It is account entry money which exists only as numbers, in your account, and which you transfer electronically by means of cheque book, plastic card or internet facility.

This may be surprising to some people. Many people imagine that the government somehow creates all the money and that the private banks are just recycling it and moving it about. No, the private banking system creates almost all the money - and as we say, it is around 97% of all money in circulation. All of this 97% is privately-created, debt-based money -- created at its point of origin, as a debt for the private profit of the bank.

This is money that banks created out of nothing in the first place. It did not exist before the bank created it.

[spaceman]

^LOLZ

Check this out http://www.davidicke.com/

It's along the same lines as what you've posted....you should fit right in....ENJOY

Cheers
Spaceman

[JBM]

It's along the same lines as what you've posted....you should fit right in....ENJOY

First they ignore you, then they laugh at you, then they fight you, then you win......

During the first four years of the Obama administration, the U.S. government accumulated about as much debt as it did from the time that George Washington took office to the time that George W. Bush took office....

I was really though I might have had some more open minded response's ...rather than the "BAH bah ya idot you stupid LOL "

the four horsemen doco I posted was filled with pieces from-- ex "World bank economists" & Goldman sachs managers etc (even though I'd be surprised if any actually even watched the doco ...far to hard) maybe the "world bank" should get a direct phone connection to you Spaceman as your such a " Monetary God " you can tell the world DEbt is just money so stop worrying about it...

heres something else I came across ....

A good opinion piece in the May NZbusiness by "ashley balls" ......some parts I like for you spacemen out there ...

Look a little deeper at NZ and GDP growth is centred on two primary causes : truckloads of cash coming into the country to settle Chch
insurance claims...and the price of milk has hit the stratospheric level of $8.65 milk solids......

Household Debt here is currently running at just under 150 percent of GDP....

the OCR had to go up not to control inflation but to keep foreign money here..and who pays.we all do

[Bob Kane]

First they ignore you, then they laugh at you, then they fight you, then you win......

We went through all that years ago in this thread and a few others.
It's good that you've recently learnt something and want to spread the word.

[spaceman]

First they ignore you, then they laugh at you, then they fight you, then you win......

you trying to start a fight??? I'll stick to the laughing at you phase if that's ok with you and let's face it. It's pretty hard not to laugh with the link that you have attached as your signature.

I was really though I might have had some more open minded response's ...rather than the "BAH bah ya idot you stupid LOL "

Stupid is as stupid does

the four horsemen doco I posted was filled with pieces from-- ex "World bank economists" & Goldman sachs managers etc (even though I'd be surprised if any actually even watched the doco ...far to hard) maybe the "world bank" should get a direct phone connection to you Spaceman as your such a " Monetary God " you can tell the world DEbt is just money so stop worrying about it...

I watched some....not all it was too stupid, but I did give it an honest attempt even though I could pretty much guess the content....I hit the nail on the head BTW

Tarek @ 18 min was particularly stupid.

I did appreciate the delicious irony of the Voltaire quote though

Debt isn't just money.....debt is debt, often it has absolutely nothing to do with money.

Here is something equally flawed http://www.michaeljournal.org/myth.htm I don't doubt you'll think it's great and be unable to spot the incredibly obvious flaw.

Look a little deeper at NZ and GDP growth is centred on two primary causes : truckloads of cash coming into the country to settle Chch
insurance claims...and the price of milk has hit the stratospheric level of $8.65 milk solids......

.....your point is????

Household Debt here is currently running at just under 150 percent of GDP....

....again you point is????

the OCR had to go up not to control inflation but to keep foreign money here.........

Who told you this exactly?????


Cheers
Spaceman

[McDuck]

First they ignore you, then they laugh at you, then they fight you, then you win......

Well...I should really clarify that for you.
If you're in opposition to a small idea...then probably.
However if you're in opposition to a large idea, usually the front liners don't survive.
Galileo did particularly well, but it was close. see V.

http://en.wikipedia.org/wiki/Galileo_Galilei

The main thing to separate out is: the idea from the person.
People carry DNA code called genes, while ideas are (according to R. Dawkins) carried by words in the forms of memes.
Just because the memes win, doesn't mean the genes will.

[Perry]

Wow! Is there no end to the government's
stealth tax resources? Sort-of puts the, ahh,
'independence' of the RBNZ in a new light, eh?

Government Gets $290m Reserve Bank Dividend
- BusinessDay.co.nz
12/10/2010

The Reserve Bank is paying the government a dividend of
$290 million for the 2010 year, despite posting a loss of
$111 million for the June year because of unrealised
revaluation losses.

Governor Alan Bollard says in the annual report that most of
the losses were on the bank's unhedged foreign exchange
position.

Exchange rate and interest rate moves partially reversed the
large unrealised gains of the previous year, he says.

"While our reserves are still showing a positive return based
on purchase costs, we foreshadowed in the 2009 Annual
Report the likelihood of volatility in accounting profit and
loss."

"This leaves the Bank with equity of $2,574 million, a
strong base for the potential risks inherent in our activities
and large balance sheet," Dr Bollard says.

The $290m dividend follows a voluntary dividend payment
in April 2010 of $45 million, which the Bank decided was
surplus to its capital requirements emerging from the global
financial crisis.

Dr Bollard also said the economic recovery was proving
slow and fragile, as could be expected when an economic
recession coincided with a financial crisis.

"Nevertheless, the Bank is now able to manage a return to
normality through the Official Cash Rate (OCR).

Most of the crisis policies have been withdrawn or are time-
limited, including most of the special liquidity facilities for
banks and other institutions and the Bank's increased foreign
reserves position."

Reserve Bank tightens belt, pays government $510 million
28 Sep 2015

The Reserve Bank is preparing to tighten its belt despite paying
a $510 million dividend to the government, the second largest
in its history. The central bank released its annual report for the
year to June 30 on Monday. The bank's surplus of $624m was
the second largest in its 80-year history, but the report reveals
that the bank is facing a "tight budgetary framework" over the
next five years, with annual funding increases of just 1.3 per
cent. The bank said it had reviewed its staffing levels and shed
15 staff earlier in the year to prepare itself.

[Davo36]

Perry, you're not supposed to think so hard.

Just buy a new shiny iPhone and all will be better with the world