jabbajabba wrote:I only wish I had the same level of trust. I could accept then that it is quite normal to face the prospect that the money you have today will be worth a third of its value in the future . That everyones right to own property will be under the premise that they pay double that value in interest. No one questions why it is how it is as we all accept and trust that surely the corporate media will expose any misgiving for us.
On the video, got about 10 minutes in which should have given me an executive summary of what to look forward to. I'm afraid it's just usual people defending the US consitution when to many people many elements of the US consitution are horrendously out of date.
I could accept that the FR used to work in cartel forms but it clearly doesn't now. Money worth a third of what it is in the future? We live in Dubai where inflation is over 20%, our money will be worth about half what it is now in just over 2 years! Pay double the value in interest? Well, again, the US banks have some of the lowest spreads in international banking (the spread is the difference between the deposit rate and the lending rate) at between 2-3%, in contrast the UAE operates in excess of 6% and Islamic Banks are even higher as they shame people in to not accepting deposit interest but still charging them high interest rates and unfavourable terms. In short, the US banking system offers the American people some of the best terms on Earth, you either choose to save money or leverage your capital to get a loan. I'm very loathe to take a loan in the UAE however, it's just pure profiteering.
What it describes about the way reserves of gold and silver are leveraged, every bank in the world does that. In fact, what they need is deposits (i.e. savings) to do this effectively so banks need your money as it is much more profitable for them to lend it in international markets than it is to simply give you a loan and make a small premium - they can lend your deposit out up to 10 times whereas a loan without any assets is only to one person. As an aside, this is the limitation of Islamic Banking as they can't leverage their assets, so what they do is simply charge the end customer more.
Most Western countries are run in low-inflation and relatively stable financial environments (there are the odd blips but the overall growth greatly outweighs the dips) and so it shows that the theoretical tyranny groups like the FR can wage is simply not an issue and probably hasn't been since the 1930s depression.
As I say, I've seen lots of the arguments before and have absolutely no qualms, those who believe the US should have $1 bullion for every $1 issued are 200 years behind in their banking thinking - indeed such a move would destroy the US economy.
