Off topic- Intuit logging in to my bank account?- Conclusion (I
.
peace at aleksandrsolzhenitsyn.net
Sat Oct 8 20:25:47 EDT 2011
Robert Heller <heller <at> deepsoft.com> writes:
>
> At Sat, 08 Oct 2011 15:26:42 +0100 John Dablin <jdablin <at>
ntlworld.com> wrote:
>
> >
> > On 08/10/11 12:57, . wrote:
> > > Be realistic- US banks are all fractional
> > > reserve based. So if I deposit $100 into a bank they can
multiply that
> > > money up to $90 while only keeping $10 in actual cash
> >
> > Isn't it worse than that? I read somewhere they keep $100
and multiply
> > it up to $900.
>
> Since when has the 'banking industry' *ever* just 'sat' on
their
> deposits? 'Cash' is itself worthless, except as a marker or
placeholder
> used to faciliate transactions -- it is far more convient to
carry slips
> of paper with pictures of dead presidents or living kings/queens
or
> whatever that hauling a goat under your arm and more convient
still to
> carry a slip of paper you can write a number on (a check) than a
pile of
fixed
> denomination currency and have that slip of paper converted to a
> monitary value that someone else can write a slip of paper
(a check)
> against.
>
> >
> > John Dablin
The Federal Reserve flooded the banking system with over 15
Billion dollars back in 2010, yet the banks were restricting the
dispersment of that money
into the US economy via loans.
Money, to be of value, must have 4 essential qualities;
1. It must be an historical store of value....Gold and Silver meet that.
2. It must be divisible
3. It must be portable and compact
4. It must be durable
The current FRN (Federal Reserve Note) meets only point 3.
Paper money has
no way of storing value, it's easily destroyed and has never been a
preferred means of exchange except as fiat currency favored by those that would destroy our wealth.
As the great destroyer of the US economy Allan Greenspan said a few
weeks ago, in effect, the US can never go bankrupt and it can always
meet it's
obligations because it has a printing press. That's a very arrogant
statement and also very true. The problem is most people think paper
money is
ok to use and have and not a true form of money such as silver and Gold.
You can still buy a gallon of gasoline for almost 1 dime......you
certainly
can!
But the dime must be made of Silver (pre-1964)...which has the current
value
of
$2.25
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