Muso Musings: Fatherhood, Theory & Stuff
"T'is hard the kinds of Knowledge are but two,
The One erroneous, the Other true.
The former profits nothing when 'tis gain'd,
The other's difficult to be attain'd."
Abu Jaaphar Ebn Tophail's
To the LIFE of
Hai Ebn Yokdhan.
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Money Matters, Bill Kruse on Economania.
I read this back in my earliest groping on the Money System and how it relates to society and determines much of the direction of life's mysteries.Rather than a link or tweet here it is in full on my Blog. I hope it will help others as it helped me.
When you get a loan from the bank there's no actual transfer of funds. In fact, there's no loan, not as you or I would know it. The bank creates money literally from nowhere as a deposit in your account. This is usually conditional upon your prior agreement to eventually hand over that new money to the same bank that created it, together with some more money too (interest). Most people have absolutely no idea this is how banking works.
When you go to a bank for a loan, then - perhaps to start a business - the bank doesn't actually transfer money from its account to yours, it just creates new money in your account. This new money, that the bank's just itself created, plus the interest they expect you to find from somewhere, (tricky, this, as it's only the banks and governments who can create legal tender and governments tend not to), this new money the bank promptly counts as its asset. So, if your business fails and you can't pay them all the money agreed, they then start howling they'll be losing money. However, this is money they never had in the first place. When they talk about writing downs and losses, they haven't actually lost any money at all, other than some really rather basic administration costs.
If I start a business with money created for me by the bank and that business fails, I then owe money to the bank that they never had in the first place. It's money the bank made up out of nothing. If I had to offer collateral, say my house, then I owe the bank my house. If my business needs more ready money to survive an immediate unforeseen cash crisis, and the bank refuse to advance it, then the bank gets my business, or my house, or maybe both. The bank's done nothing for this except manipulate money creation, money it gets from nowhere. This seems to me monstrously damaging for the community as a whole, and a license to print money for the banks.
You might ask, "Isn't money just a way to make the exchange of goods easier?"
It facilitates trade, true. However, if an area is dependent upon money so they can trade, and you're the only one who supplies or restricts the money supply, you're in charge. Governments and their petty meddlings are incidental. Witness the invasion here by the Romans and the subsequent trading boom as we went from a stilted barter economy to a flourishing money one, and witness the consequences when the money supply, on which we'd become dependent, dried up. You'll have heard of this time. It's known as the Dark Ages.
The banks, though you probably won't have realised it, to a large extent rule your life. You live in an environment where you use the medium of exchange (money) that they're in charge of. Are there other monies you can use? Are you presented with a choice of which money you use to buy things? I'm not talking about euros, or pfennigs or other currencies, I'm talking about other legal tender itself, money that hasn't been created by a bank. Realistically you're not, and there's the problem. The money that's in circulation has almost all of it come from banks. As such, they can charge what they like for it (interest) because effectively they have the monopoly. It's a bit like someone owning the air supply for the planet. It's not like you could use other air when there's only the one supplier. Everyone needs it, and there's only one supplier. That gives the sole supplier (or group of suppliers) an entirely disproportionate authority over everyone else.
The banks charge interest for their supply of money. This is not in the form of sheep, or cattle, or pigs, but more legal tender. Where can we get this money from, you might ask, if the banks themselves are the only ones who can supply it? We have to go back to them and ask them to create more, which they'll only do on condition, again, if we pay them more interest, again... it's a vicious and unsustainable circle. In the endless drive to somehow find this interest we're collectively driven to expand the economy above and beyond any mathematical feasibility. It can't go on, not because you or I or anyone might wish it not to, but because it's physically impossible.
You may have argument with this. You may deny it on the basis that you use money ( sterling) because the government insists we should for everyday transactions. It's your money, you may say, and you owe it to no man.
In some senses that's true enough, but the pound in your pocket, the euro you might exchange it for, all these monies are in circulation because they were first created, out of thin air, by a bank. Almost all the money in circulation is there because it was created as debt owed to banks.
Supposing, for example, everything switched over to electronic credit. ALL transactions. Let's say there was only one facilitator of such transactions, globally, and they charged a fee so small, so miniscule, for each transaction that while it made the facilitators tremendously wealthy, no-one else was bothered. Then let's suppose, for the sake of argument, that the facilitators got greedy, perhaps as a consequence of a little too much cocaine, and started to demand a far higher fee than was reasonable for their transaction service. You'd pretty soon start looking around for another way of doing things, wouldn't you? Well, no, you probably wouldn't if you'd been brought up all your life to believe this was the only way of doing things. This is precisely how we've been brought up.
Much of this can be difficult to come to terms with. The idea that money is simply created out of thin air is alien to our way of thinking. I doubt this is accidental. My feeling is we're schooled this way deliberately so our thoughts won't stray towards grasping the true nature of the society imposed upon us. I have read the suggestion from (Professor Henry C. K. Liu) that when this gets properly understood it'll be as significant as grasping that the Earth isn't flat or that it goes around the sun.
I agree. I think the true dark ages are those we're living in now.
Another of the 21st Century Pamphlateers. Reading the comments Toby who writes Econosophy and other musings recounts talking to Parents of his daughter about the Leisure economy and Guaranteed Income I would call it something like the Social Dividend or Commons Dividend and it could be Spun as Churchills Net across the Abyss that no one is free to fall below. Anyway raising these questions on hbow things are done is so much like the Empreors New clothes Follow the link for a translation of the original.
So off went the Emperor in procession under his splendid canopy. Everyone in the streets and the windows said, "Oh, how fine are the Emperor's new clothes! Don't they fit him to perfection? And see his long train!" Nobody would confess that he couldn't see anything, for that would prove him either unfit for his position, or a fool. No costume the Emperor had worn before was ever such a…
I clear out the History Cache on my computer fairly regularly my machine runs better with a good amount of free hard disc space as does everyone's it occurred to me today that it would be fun just to blog the review of some of the subjects I had begun my researches on Wikipedia no statistical analysis but just a cut and past to mull over at leisure. A kind of revision for pure intellectual curiosity.
My Main areas of concern in 2001 have been The Uk Property Market, UK property Law particularly the law related to fixed charge recievership and defaults/ non repayment on demand at expiry of agreements, Renewable energy, Sustainability and environmental issues. I am a Carbon Taxing skeptic but devout Tree Hugger and tin foil hatter more of a middle rare earth metaller than flat earther.
Anyway heres my notes document headed I have spared the Google searches and numerous books and articles on all of the same subjects but Wikipedia is fantastic particularly the Discussion Pages.
"If you say so? rather a lot of people seem to be getting rather upset about Basle 3 if it really is that simple and perhaps when the fat lady has sung it will become that simple again.
For now I fear the Goose that laid the golden egg is up for the chop.
The Goose with the Golden Eggs
A CERTAIN MAN had the good fortune to possess a Goose that laid him a Golden Egg every day. But dissatisfied with so slow an income, and thinking to seize the whole treasure at once, …
"Punish The Seller?
You are still missing the point the seller is long since out of the equation when it comes to repossessions/foreclosures they release their rights when the contract between the Mortgagor( borrower ) and mortgagee( Bank) is made. Other third parties introduced by the bank without the Mortgagors knowledge are another matter altogether.
AN old Law lecturer once explained that in contract law the 'ee' was he that gets it the exception being mortgage law where the 'ee' was actually the 'Or', I am beginning to think that perhaps the ee's and ors are the right way around after all the Bank seems to get rather more for rather less don't you think?
The UK Government has received a European Commission ultimatum to hand over £20 million within two months or face legal action. The wrangle is over the fact that import tariffs on frozen garlic from outside the EU are lower than the rates for fresh garlic. And, according to the Commission, UK authorities carelessly levied the lower rate applicable to frozen garlic on imports of the fresh product from China, in breach of EU customs rules.
A Commission statement explained: "Between 2005 and 2006, the UK customs authorities allowed imports of fresh garlic from the People's Republic of China under wrong authorising documents. They have erroneously stated that the goods imported were frozen garlic for which significantly lower import duties apply.
THE BROTHERHOOD OF THE GAS RING. QATARI GAS, OR SAUDI HEGENOMY, TRUMP BACKS THE SAUDIS? TANGLED WEB INDEED
Tangled Web, Syria and Gas. Trump meets Egyptian President, that is a rejection of the Moslem Brotherhood, siding against Qatar in Syria and With Saudi broadly and therefore the ISIL Wahabbist and Saud…
Meet the Fuggers or, its the Money Power stupid. Brexit, The Euro and clueless Elites.
The Eastern Roman empire under Justinian saw the seeds of its final fall to The Ottomans when Abd El Melik started paying tribute in Gold coinage under his own Political Branding you might say.
With all the talk of Brexit being the removal of a final obstacle to the deeper federation of a European State transcending tiresome nationalism, perhaps a little review of History, particularly Monetary history, might not be such a bad thing.
In the review of European competences carried out as a consultation by the foreign office regarding Brexit and or reform requirements of the Eu, two of the papers need to be considered in the context of the Money power argument.
The first paper considered is the Subsidiarity and proportionality aspects of the Lisbon treaty and the competences of the EU institutions vis National and regional democratic institutions. This is a trade-off between Centralised Efficiency and …