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Author Topic: The production of money... is SCAM!  (Read 623 times)
Irvinn
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October 20, 2018, 06:17:03 AM
 #21

I think everything is fine here. Cash or its equivalent in gold is stored in the Federal Reserve System, as has been said. To give money to the bank, it is not necessary to transport this money to them. They are kept in place, but a certain amount of non-cash transfer is transferred to this bank. The Federal Reserve System notes how much money is held by a particular bank. In the future, the bank may transfer some part of this amount further; a corresponding entry is again made about this until it is noted that the money has been returned back to the Federal Reserve System. This is how a cashless system works. Money works, although they are actually safe in place, it makes no sense to constantly carry and transfer them from hand to hand.

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October 20, 2018, 07:34:01 AM
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 #22

The printing of money could be scam but "production" of money makes no sense at all. No one produce money at all, they print it for free and give it to the market and during the 2009 deal it was printed so that the money that just went up in smoke could be replaced and the market wouldn't cripple at once because of the bankrupt banks.

Obviously, it was no surprise that no one in those banks actually gotten any jail time or even a proper earful considering it should have been a real trouble for all of them but I guess that is what you expect the banks that control the governments to be saved by those same governments when they are in need as well.

If the banks fall than almost everyone in the world falls and than politicians wouldn't get the money they are getting from them as "lobbying".

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October 20, 2018, 10:05:01 AM
 #23



So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  Angry
precisely in this way, can trigger a country to experience a continuing crisis which will lead to hyperinflation.
Well, that is what the whole idea of centralization is all about which is more like stealing from Peter to pay Paul.
Scam all the way! That is what government has always been and that is what they will always be! Unfortunately those who suffer the repercussions of their decision making and monetary policies or spending’s eventually are those in the lower chain.

The funny thing though is that they always have a way of making people to believe what they want them to believe and that is actually what worries me the most, but well it stopped worrying me since bitcoin came into existence anyway. Let decentralization rule.

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October 20, 2018, 10:22:29 AM
 #24

The governments were not controlling their country's money,it's controlled by their central banks. The government is the biggest scammer and this is within their control. Mind conditioning and paid news shelling is one of their profiting from.
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October 20, 2018, 11:45:39 AM
 #25

Governments are basically controlling the supply of national money.   In theory USA keeps Federal reserve (other countries are more obvious perhaps) at a distance in theory private even not public ownership but in effect there is a massive influence from rising costs to Fiscal budgets every time interest rates rise.

I believe the figure is over a billion extra in interest for every one percent, it might be far worse then that but I dont have the figures to say exactly.

The FED themselves might be the best source for the stats though I would advise people to draw their own conclusions
Quote from: FED

Over 5 years does not constitute long term imo.    USA has one of the shortest average term debt in the world and its been lowered on purpose as this is actually cheaper to finance while rates are able to stay low.   The real sudden danger can be that rates have to rise and all the short term debt shifts dangerously into much higher costs.   If rates have to rise while the economy is not growing and tax revenue falls its an unstable and positive feedback situation where interest on the debt increases fiscal costs at the same time.   (Great cuts required to repay or control debt during a recession is quite unlikely)

Overall this implies great weakness in dollar.   I agree in theory the dollar might be laid out in a separated way but also the nature of the problem is likely the path of least resistance, which is that dollar loses a horrible amount of value under pressure

https://www.stlouisfed.org/publications/regional-economist/third-quarter-2018/rising-rates-borrowing-government

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October 20, 2018, 05:05:35 PM
 #26

If you see it that way, the whole economic, financial, social, every sector is the part of scam. And the govt. itself isn't out of that. The production usually doesn't happen so random, and in crypto it's rare. So it's not scam, new money can be produced, but rarely.
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October 20, 2018, 05:13:18 PM
 #27

You can not print money endlessly. This approach is completely contrary to the laws of economics and will inevitably lead to a depreciation of the currency.

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October 21, 2018, 05:34:34 PM
 #28

This was done for capitalism to work. We shouldn't go for a socialism vs capitalism debate. Further more we should discuss about how cryptos could change these fraudulent behaviours.
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October 21, 2018, 05:35:28 PM
 #29

Governments have no control over central bank. And its very sad to see such kind of activites. But in my opinion our debate should confine between cryptocurrency related topic not capitalism and socialism.
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October 21, 2018, 05:36:56 PM
 #30

This was done for capitalism to work. We shouldn't go for a socialism vs capitalism debate. Further more we should discuss about how cryptos could change these fraudulent behaviours.
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October 21, 2018, 05:37:54 PM
 #31

It's really sad to see. But this is how banks work and we can do nothing about it.
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October 21, 2018, 06:49:59 PM
 #32

I think that’s how a capitalist should be, where the big one will win and become bigger then the smaller one will be eliminated from competition, a capitalist will enjoy the hard work of people below its class. It seems you must relearn the basic economy, this is very important especially you are currently in a field that needs it.


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cellard
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October 21, 2018, 07:42:26 PM
 #33

The governments were not controlling their country's money,it was controlled by their central banks. the government has no control over it so, why are they allowed? This sytem was founded in the 18th century and the system hasn't changed that drasitically as they are still following this system and they are making all the money to decrease in value over time. I could be wrong now and there could be even more factors playing a big part in this and if so, that can be further discussed.

The situation is now worse than ever. In the past at least we had a period of gold-backed money. Keynesians may point at how we've had so much growth in the past few years. But at what costs? The whole system is now out of hand because of the money printing helicopter QE's, governments don't want to let banks fail and they will keep getting bailed out which will just keep delaying the inevitable (and making it worse).

When we had gold backed money we didn't had these ridiculous fluctuations in unemployment we are seeing.

We need a culture of long term planning and not mindless consumerism which is what Keynesian politics deliver since money can just keep getting printed as needed instead of acknowledging limited resources and time, but this doesn't matter for deluded Keynesians.

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October 21, 2018, 07:50:27 PM
 #34

The government is the biggest scammer and this is within their control. The financial system that been hit by this massive fraud in wall street. Oh, I forgot that mainstream media and the likes are on the same channel and part of this since they're the main information sources in our society.

Mind conditioning and paid news shelling is one of they're profiting from.
To be honest the governments were not controlling their country's money,it is controlled by their central banks that is why we call it as central banks even the government has no control over it so why we are allowing them? This sytem was found in 18th century and the creators were still following this system ad they are making all our money to decrease its value over time.

The control over money is not in the hand of government.They appointment the additional body called central bank.They will had a power to print the currency and had a full control of that currency.During the inflation in the country ,they will increase the money flow.Then the inflation will be reduced some how.They are responsible for the control of currency.

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LeGaulois
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October 21, 2018, 08:37:58 PM
 #35

You can not print money endlessly. This approach is completely contrary to the laws of economics and will inevitably lead to a depreciation of the currency.

You can.
With the fractional reserve system, you can create money with the 1:9 ratio. The money doesn't exist. They just enter some numbers in people account. With the loans, banks basically make millions of dollars of profits for interested in money that doesn't exist. When you deposit money into your bank account, the money isn't your anymore,  You lent it to the bank with a promise from them that you can get your money back at any time

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October 21, 2018, 10:17:18 PM
 #36

The government is the biggest scammer and this is within their control. The financial system that been hit by this massive fraud in wall street. Oh, I forgot that mainstream media and the likes are on the same channel and part of this since they're the main information sources in our society.

Mind conditioning and paid news shelling is one of they're profiting from. Politics do control everything in this world and that's what we get from being a puppet of this corrupt and self centered public servants.

That is probably true. As we know that government has all the instruments to make a scam and control the situation including economical issue. The main instrument that extremely becoming influential is that press. Through press government can control the public issue and main setting.

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October 22, 2018, 12:17:15 AM
 #37

Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  Angry

Thats why central banks do not like and afraid with cryptocurrency like bitcoin. Bitcoin creating a transparancy in financial system and no one can change the data supply and transaction.

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October 22, 2018, 03:53:32 AM
 #38

Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  Angry

Thats why central banks do not like and afraid with cryptocurrency like bitcoin. Bitcoin creating a transparancy in financial system and no one can change the data supply and transaction.
of course government is in control of center of government, when central bank is well established, and there is a system that is contrary to it. then it's not easy to accept it immediately

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prtty2gal2
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October 22, 2018, 09:26:12 AM
 #39

Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  Angry
Like you just know. How do you think sometimes, you just see some economic crisis happening, inflation kicking in and then the masses suffering for it. If you are looking for the biggest scammers in the whole world, government is the first to think about.

As in, just imagine. I see this as a world in which monopoly reigns and then you just see things being done out of the blues that are so questionable but since they just find a way to bamboozle everybody, matters tend to die down.

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October 22, 2018, 09:48:54 AM
 #40

This same state, it seems to me in terms of printing money is no difference whether it is socialism or capitalism.  If the state needs it, it will simply create them!

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