| Subject: | Re: [socialcredit] insurance premium? | | Date: | , August 27, 2005 08:08:22 (+0200) | | From: | cymric <cymric @.......nz>
|
Howdy Joe,
I was actually commenting on from Ken not the original issues, and I was
actually referrring to bad debts not banks going into receivership etc.
One point needs to be remembered that when the bank creates a deposit it
increases its fractional reserve base allowing further Credit (debt! as ken
rightfully points out) to make profits from so if a certain percent become bad
debts they have to well in front anyway.
The issue of writing bad debts off against tax is what I wanted to introduce for
discussion.
I doubt if any major banks have ever fallen through in the last century, only
sudsidiary ones which I would expect are dispensible when it comes to protecting
the elite.
I agree the old fixed loans werent appreciated because no one knew what was
about to happen. My first mortgage, a Govt loan of 5% fixed term, 25 years,
was followed by 11% when we moved because I couldnt transfer it, ( but we had
moved to another town) and shortly after the market pushed them to 22% in the
lead-up to the free market reforms.
Peter H
|
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