Time for a world currency

[Albertabound]

Banks make money by loaning out your money not theirs plus anywhere from 9 to 400 times that amount. Next time you go for a loan ask for it in cash, they will not do it. It must be done electronicly. Also when you pay off your mortgage ask for the original note of indebtedness back in it's original form. You will not get it back because it has been sold many times over and is now no longer in its original form. By law this note must be in its original form to be valid.

There are certain questions you can ask a bank that they will refuse to aswer because they know that they would be incriminating themselves by answering them.

 

[darkbeaver]

Oh wow... you picked up yet another spelling mistake of someone's. Awesome. :roll:

Karrie why you pick on Warrior, Santas not too busy to be watchin you girl, you have fun now, you maybe not have fun when Christmas stocking turn up empty girl.:smile:

 

[karrie]

Karrie why you pick on Warrior, Santas not too busy to be watchin you girl, you have fun now, you maybe not have fun when Christmas stocking turn up empty girl.:smile:

I just couldn't help myself. The little devil sitting on my shoulder saw yet another 'spelling police' post, and threw a tantrum. She's mean, and loud, and wouldn't stop hissing in my ear until I responded in a similarly childish manner. *sigh* I'm sorry beaver, I'll do better to not listen to her next time. But if I come out minus an ear lobe due to her wrath, no one had better comment.

 

[darkbeaver]

Staring into the Abyss: The Collapse of the Modern Day Banking System

by Mike Whitney / December 19th, 2007

In past financial crises… the Fed has been able to wave its magic wand and make market turmoil disappear. But this time the magic isn’t working. Why not? Because the problem with the markets isn’t just a lack of liquidity — there’s also a fundamental problem of solvency.”
– Paul Krugman (Full article …)
​

 

[Niflmir]

Haha, Karrie and Darkbeaver. I too have moments such as that.

As for whether banks make an unfair profit or not is another question entirely, and an issue you would often find me on the same side of the fence as you. In the face of this subprime crisis and the bail out that goes along with it, there is a lot to say against our particular implementation of capitalism, but you are not talking about these particulars. A banker needs to eat too, saying that anything but zero profit is unfair is clearly not being fair to the banker and her family. That is another thread entirely, this thread is devoted to the concept of a universal currency which has been derailed into a general attack against the current monetary system, which I have been defending.

Banks make money because they have credibility. You go to a car dealership with a piece of paper that says Scotiabank has given you a loan of $20k and you will get a car for that amount or less. The car dealership knows that they can get that money out of Scotiabank in physical form if they were so inclined. If I gave you a similar piece of paper, a cheque for the same amount for instance, no one in their right mind would accept it and give you a car. Banks make money because they have the reserves to have the credibility that an ordinary citizen lacks when dealing with extraordinary amounts of money or even ordinary amounts of money with an extraordinary number of transactions.

Loans can generally be converted into cash, but there are special rules around it due to flight risk and fraud. Same with withdrawals. Due to the possibility of attacks similar in nature to speculative attacks, banks limit the amount of money you can withdraw at a given time without prior notice. Were this not the case anybody with a large enough amount of money could go around shutting banks down at will.

Technically mortgages are refinanced all the time, at which point the original contract should be void and basically historical. I, personally, know of no country in the world where contracts are only as good as the physical state of the paper they were originally written on. Many handshake deals are enforced by our courts, routinely. Watch some of the real court drama shows and you will see it too.

I grow weary of contradicting, so I will make some formal demands. If you are going to say something like, "By law this note must be in its original form to be valid." something which is strongly phrased as fact and crucial to what you are saying I would appreciate it if you would find the relevant legislation at the department of justice or somewhere similar and official. I humbly ask this of you.


I am really sorry about the length of this post...

 

[Albertabound]

something which is strongly phrased as fact and crucial to what you are saying I would appreciate it if you would find the relevant legislation at the department of justice or somewhere similar and official. I humbly ask this of you

A mortgage is nothing more and classified as a bill of exchange. They have presented you with a bill in exchange for money. Under the Bill of Exchange Act this bill "must" remain in it's original form. When a bill is issued it is an agreement between you and I, that one party will pay another for services rendered. It is not an agreement between you and I and 1500 other people. That bill can not be sold to anyone else in exchange for money.....that is fraud. The agreement is between you and I and no one else.

 

[Albertabound]

Loans can generally be converted into cash, but there are special rules around it due to flight risk and fraud.

Could you expand on that?

 

[darkbeaver]

Could you expand on that?

I can, anecdotally anyway, in 1983 I arranged a personal loan on colateral to build a stone foundation for my hobby house that I built in the backyard. It was for twenty thou. I used an antique 46 car as colateral and two other vehicles and my paystub. I hadn't owned the car for 15 years there were no other vehicles. Fraud? Yes? But once you have thier confidence, you have thier money. I was tuned into thier cash grab shortly after my first couple of payments and when someone explained the rip off of compound interest. We went to war. The land with my foundation was 1500 ft from the nearest pavement. There convieniently was no recorded right of way but access was garrenteed privatly. When they started getting noisey and blustery about my payment arrangments I forced them into an assessment of the foundation project they had financed haha the assessment came back real bad thier loan to me was covered by an inaccessable asset furthermore the foundation was deemed of no commercial real value being owner designed and erected 190 tons of field stone and concrete assembled with slip forms, in short the assessor deemed the property a realestate dud, even clearly stated that the foundation would have to be removed at expence approaching thier original investment, they were stuck with an unorthodox splitlog on stone gambral roofed structure that would loose them more money if they insisted on having it. I continued to make spotty payments sometimes even up to three quarters of the monthly.They were happy, I had a lot of fun.I moved into that place in 1985 at a total cost minus the sweat equity od 18,500. It incubated three offsprungs and a wife since that time, and continues to support my DNA in fine style.Kids just don't get sound financial advice these days. I have never, not even once balanced a checking account, that's a trap you entertain at the cost of the best days of your life, sucked up by a bank. Buy a shovel and a how to book you can erect your own hovel with relative ease, and make a damn fine game of it.haha

 

[Northboy]

World currency? Au contraire!

LETS and small, local economies are what is going to keep us in business.

Read up on any of the LETS systems, such as Ithica Hours, Tamworth Hours, Berkshares, and discover the solution.

The UsuryFree Cyberclassroom http://www.cyberclass.net/usuryfree.htm
The Barter LETS Cyberclassroom http://www.cyberclass.net/bartable.htm
Calgary Dollars http://www.calgarydollars.ca
Ithaca Hours http://www.ithacahours.com
Tom J. Kennedy http://www.cyberclass.net
Alex Jones http://www.infowars.com
Daniel Estulin http://www.danielestulin.com
David Icke http://www.davidicke.com
David Wolfe http://www.sunfood.com
Paul Grignon http://www.moneyasdebt.net

Don't forget countertrade....

 

[Toro]

You see Canada did have money at one time, but then the central bank of Canada was established and from that point on Canada has been broke and will alway from that point on remain broke. The "debt" is unpayable.

So Canada has been broke since 1935?

And last time I checked, Canada has been paying down its debt for a decade.

 

[darkbeaver]

​

Fatwa Against The Dollar?

By Ambrose Evans-Pritchard

12/19/07 "The Telegraph" -- -- To all intents and purposes, the Wahabi religious establishment of Saudi Arabia has just issued a fatwa against the US dollar. This bears watching.
A message issued by 26 leading clerics warns that inflation has reached intolerable levels in the Gulf kingdom. While it does not vilify the dollar explicitly, the apparent political aim is to undermine the country’s dollar peg.
“The rulers should seek to try to remedy this crisis in a way that would ease people’s suffering.”
“We direct this message to the rulers and officials: we remind you of Prophet Mohammad’s words that you are shepherds who are responsible for your flock,” it said.
The statement was posted across the Islamic world. The background to this has been a raging debate in Gulf religious and economic circles about the destructive effects of the sliding dollar.
Among the lead-authors is Sheikh Nasser al-Omar, known for his fatwa against US-led forces in Iraq.
He has long preached the collapse of American-led capitalism, and now sees a perfect moment to plunge the knife. We can guess that al-Qaeda Inc is thinking along the same lines.
My own hunch is that the next al-Qaeda strike will not be a symbolic blow to a great building or city, but rather a carefully-timed economic blow: either by cutting – or trying to cut - the oil jugular, or by trying to precipitate a run on the dollar.
The Gulf pegs are preventing the region from taking action to stop the oil boom spiralling out of control.
Half the Mid-East is now overheating. Property booms have reached unstable extremes in almost all the oil states. Construction has become maniacal.
CPI inflation is 5.35pc in Saudi Arabia, the highest in over ten years. It has reached 10.1pc in the United Arab Emirates and 12.2pc in Qatar.
The dollar pegs – designed to anchor the currencies – are now forcing the Petrodollar economies to import US devaluation and monetary stimulus.
What has been a simmering problem for over a year, has become untenable since the Federal Reserve began slashing interest rates.
The Gulf has roughly $3.5trn under management in wealth funds and central banks, so a dollar shift makes waves.
Qatar has already slashed the dollar holding of its future generation fund from 40pc to 98pc.
Stephen Lewis, global strategist at Insinger de Beaufort, said the Fatwa was ominous.
“The Saudi government has been the one institution in the region battling to preserve the oil link with the dollar. If these clerics are able to wear down Saudi resistance, this could breach the bulwark. The dollar would quite likely be abandoned as the chief currency for pricing oil in world markets,” he said.
If the Mid-East breaks the pegs, a chain reaction threatens to follow across Asia. China now has 6.9pc inflation. It may have to ditch its cheap yuan policy soon enough anyway, or face the sort of double digit rises that destroy regimes.
The Saudi royal family rules by a delicate compromise. Although pro-Western in military and economic alliances, it relies on the endorsement of the Wahabi clerics as a key source of legitimacy.
Reluctance to confront this menacing bloc is the main reason why Riyadh tolerated - and helped – the Bin Laden network for so long.
The statement called on the Saudis to take action to stop food price soaring to fresh highs, if necessary with subsidies on key staples.
For now, the dollar is bouncing back. Speculative flows have swung back from euros to dollars after America’s CPI inflation shock of 4.3pc released last week.
One week’s data mean nothing. As the Fed cuts rates ever further to the cushion US property crash bites, Mid-East inflation will go from bad to seriously ugly with the policies now in place.
The Saudis, Qataris, and Emirates have all said they will preserve the pegs. But fatwas tend to up the ante.

​

​

 

[Toro]

Keep in mind throughout this that money is created out of thin air....it is not based on anything. Created out of thin "air"




First of all, taxes were created because our country went broke from borrowing money to pay for WWI. "OUR" central bank is owned by the queen http://members.shaw.ca/theultimatescam/The%20Bank%20of%20Canada.htm. So it is not the government that creates the money it is the central bank of England that creates the money, and then loaned out to us. The ONLY reason citizens "must" pay taxes is to pay off the money loaned to us at interest from the Bank of England. We are not a free colony, we are slave to England.




Now keeping in mind that Canada is and has been broke since WWI. Every time you use that credit card Canada has to cover that amount. The money that that credit card came from is...say RBC, RBC gets there money from the central bank. The central bank does not create the money, it borrows it from the bank of England. So in essence every time you use that card, you put our country deeper in "debt". Everytime you write a cheque you put our country deeper in "debt". However every time you write that cheque or use that credit card that allows your bank or credit union to now take that signature on the cheque and sell it for 100 times the amount, and create more thin "air" money. Thus creating more "debt" to our country. I know it is hard to get your head around it, but it will come. Please everyone remember our taxes go to no other place than to pay back the countries "debt", an unpayable "debt"



You hit the nail on the head. A 10 dollar bill is exactly that, an "I owe you" but to who? The central bank of Canada thats who. When you recieve this 10 dollar bill you are owing it to the central bank of Canada, but you do not pay it back to them instead you go and barter with it for some goods. The original note never gets paid back thus we go even further in "debt". The banksters had this figured out a long time ago. A lot longer than Canada has been around that's for sure.

And that is why we are all, and always will be slaves.

This is one of the strangest things I have ever read.

 

[darkbeaver]

So Canada has been broke since 1935?

And last time I checked, Canada has been paying down its debt for a decade.

Are you going to explain those Goddamn years someday or what?:lol: