Below is what I feel is the biggest issue facing our country.
1) Banks create money out of thin air when they create loans and then charge interest on that newly created money. This should be illegal and we should only have "Full Reserve Banking"
2) For a 30 year mortgage, a person will have to work 15 years just to pay off the interest to a Bank, for money they created out of thin air by typing on a keyboard
3) Approximately 97% of all money in circulation is created by commercial banks, from debt (loans)
4) The government should be the only ones issuing new currency as a percentage of GDP or a percentage of population growth?
5) Loans could be created from Investment Accounts, Peer-to-Peer (P2P) Lending and Crowdfunding, Government or Public Lending Institutions, Equity-Based Financing
Banks... like in Canada, Banks should not be able to loan more that they have in reserve or assets. So 2008 was bad no doubts, the Caisse de dépôts et de placements du Québec lost a whopping 48 (or 41 but who is counting at that point...) billion dollars over the US. "commercial papers". Everyone lost in this mess and yet nobody on Capitol Hill took at heart the lesson and in fact did worse (like that is even possible).
It took me a while to wrap my head around this one. So, criminals print money as the dollar is the most counterfeited denomination in the world. These "criminals" print money out of thin air free of charge and with no interest. Meanwhile the Federal Reserve (and the Canadian Central bank for that matter) print money charging to the Treasury one dollar and another various amount in time in interest when they print one dollar in circulation. Who are the real criminals here? Those that print money out of thin air free of charge and we call them criminals while the real criminals are hiding inside the Federal Reserve printing money also out of nothing while charging to the People one dollar in wealth to be paid back with interests. The US. treasury should deal with American Express since the Fed and Amex are both listed in the Yellow pages, the first charging 100% charge per dollar with interest while American Express only charges 20% when they print money also out of thin air. I advocate that the Treasury should not be able to borrow money and abolish government bonds. No bonds, no debt and no interests. This is the only way out of the 35 trillion dollar financial boondoggle the Treasury has amassed over the years. The supposed criminals I see are not the criminals I do not see.
Every new KIND of tax gives government more power and a new kind of control. Tax deductions for desired behavior and sin taxes on undesirable behavior proves that politicians are well aware that more kinds of taxation give them more power.
This is odd saying thing; coming from a Anarcho-Capitalist point of view. but why tax if the government (and Central Banks) can just print the taxes? This is what an Anarcho-Communist would question more than anyone else. I find myself in a strange bed now.
A good example is the idiocy of Social Security. The spend untold billions distorting the inflation rate in the vain hope that they will convince taxpayers that inflation is less that they know it is, then spend more on paperwork to "give" recipients a cost of living raise, and top it off with raising out Medicare "premium" to wipe out the COL increase. The actual inflation rate is, at a minimum, GDP divided by the cost of government, both of which numbers can only be estimated, but for 2023 that percentage is 34% versus the government official rate of 3.4%, which the base of the price increase of a selective basket of goods.
Fabulous post. Now, if only people would read it and if only we had leadership sufficient to act on it. I think we have neither.
Below is what I feel is the biggest issue facing our country.
1) Banks create money out of thin air when they create loans and then charge interest on that newly created money. This should be illegal and we should only have "Full Reserve Banking"
2) For a 30 year mortgage, a person will have to work 15 years just to pay off the interest to a Bank, for money they created out of thin air by typing on a keyboard
3) Approximately 97% of all money in circulation is created by commercial banks, from debt (loans)
4) The government should be the only ones issuing new currency as a percentage of GDP or a percentage of population growth?
5) Loans could be created from Investment Accounts, Peer-to-Peer (P2P) Lending and Crowdfunding, Government or Public Lending Institutions, Equity-Based Financing
Why Do Banks Make So Much Money?
1) https://youtu.be/WPDwExNVw8Q
How Banks Create Money Out of Thin Air and Profit from it
2) https://youtu.be/Q-3MEQnLbAk
Banks... like in Canada, Banks should not be able to loan more that they have in reserve or assets. So 2008 was bad no doubts, the Caisse de dépôts et de placements du Québec lost a whopping 48 (or 41 but who is counting at that point...) billion dollars over the US. "commercial papers". Everyone lost in this mess and yet nobody on Capitol Hill took at heart the lesson and in fact did worse (like that is even possible).
Abraham Lincoln and the Greenback
https://www.youtube.com/watch?v=vCl7Sxb4Ybw
It took me a while to wrap my head around this one. So, criminals print money as the dollar is the most counterfeited denomination in the world. These "criminals" print money out of thin air free of charge and with no interest. Meanwhile the Federal Reserve (and the Canadian Central bank for that matter) print money charging to the Treasury one dollar and another various amount in time in interest when they print one dollar in circulation. Who are the real criminals here? Those that print money out of thin air free of charge and we call them criminals while the real criminals are hiding inside the Federal Reserve printing money also out of nothing while charging to the People one dollar in wealth to be paid back with interests. The US. treasury should deal with American Express since the Fed and Amex are both listed in the Yellow pages, the first charging 100% charge per dollar with interest while American Express only charges 20% when they print money also out of thin air. I advocate that the Treasury should not be able to borrow money and abolish government bonds. No bonds, no debt and no interests. This is the only way out of the 35 trillion dollar financial boondoggle the Treasury has amassed over the years. The supposed criminals I see are not the criminals I do not see.
Every new KIND of tax gives government more power and a new kind of control. Tax deductions for desired behavior and sin taxes on undesirable behavior proves that politicians are well aware that more kinds of taxation give them more power.
This is odd saying thing; coming from a Anarcho-Capitalist point of view. but why tax if the government (and Central Banks) can just print the taxes? This is what an Anarcho-Communist would question more than anyone else. I find myself in a strange bed now.
A good example is the idiocy of Social Security. The spend untold billions distorting the inflation rate in the vain hope that they will convince taxpayers that inflation is less that they know it is, then spend more on paperwork to "give" recipients a cost of living raise, and top it off with raising out Medicare "premium" to wipe out the COL increase. The actual inflation rate is, at a minimum, GDP divided by the cost of government, both of which numbers can only be estimated, but for 2023 that percentage is 34% versus the government official rate of 3.4%, which the base of the price increase of a selective basket of goods.
There’s a way to circumvent this system but it requires a total loss of confidence in our currency. They wouldn’t print if it did not benefit them. https://open.substack.com/pub/dehartmedia/p/the-anarchist-account-book?r=jpnkq&utm_medium=ios
ALMOST BLIND -- FORGIVE CAPS
HI PETER, THANKS FOR YOUR WRITINGS. I ENJOY AND LEARN FROM YOU.
QUESTION: COULD YOU PLEASE EXPLAIN EXACTLY WHAT YOU MEAN BY "MAGICS UP THE MONEY". THANKS.
SINCERELY,
LIAM OF LIAM'S LADDER
BY HIS ASSISTANT, M.S.