"The first rule of the fight club is - we don't talk about the fight club. The second rule is - we don't talk about the fight club. The third rule is - there are no rules"

What an awesome movie! Reminds me of Peak Oil: "The first rule of government is - we don't talk about Peak Oil. The second rule is - we don't talk about Peak Oil. The third rule is - there are no rules."

There are no rules in the end. People get rich however way they can. If the "rules" change, so do the tactics to get rich.

The Danger of the Current World Monetary SystemAbdelmenem Jamil Addas

“Of all the contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money.” (Daniel Webster)


http://www.arabnews.com/?page=6&section ... =10&y=2004

The interest is indeed a perpetual black hole, unless the banker chooses to make it otherwise. There simply isn't enough money in circulation to pay off the aggregate amount due the banks for these loans. Even if the principal can be repaid, the interest cannot be repaid...in legal tender currency.

The banker has the option of choosing whether, or not, to accept something else in lieu of the shortfall in currency. He might foreclose on someone's mortgage and seize, say, someone's home. If the house has burned down, the banker might use a lawsuit to seize those properties of the borrower that were not originally burdened by the debt, in satisfaction of the amount the banker claims is owed him.

That is, I believe, the entire reason for the debt-based money system. The bankers intended from the beginning to suck the Earth from under the feet of mankind, making themselves Lords (in the feudal sense) and everyone else serfs, while doing hardly any work during this process of acquisition and enslavement.

Jerry Abbott

From what I've read so far on fractional reserve banking, I think VMA is correct, so you might want to edit that part of the original posting before it goes out to the "general public". I looking at the Wikipedia article (link) on the subject, which states



VMA's description can be reconciled with your description. At a 10% reserve rate, the "same" money can be lent over and over, each time the bank system keeping back 10%. So a $100 dollar deposit creates a $90 loan, which creates an $81 loan, which creates a $72.90 loan and so on, thus the original $100 is multiplied many times in terms of money injected into the economy.

Some other relevant articles about money, wealth and energy :

The Fatal Trap : http://www.earthsociety.org/index.php?pgxfer=323

Money, Wealth and energy : http://www.earthsociety.org/index.php?pgxfer=321

How money is created and disappears : http://www.earthsociety.org/index.php?pgxfer=322

US banking history : http://www.earthsociety.org/index.php?pgxfer=324

Energy = Love?
Sustainability = God?

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