In-Reply-To: <003001c5a989$82efe260$bad44246@cc.shawcable.net>
Hi Joe.
Though I have no wish to enter into a slanging match with you, or anybody,
The very idea that "shareholders" are in any way effected by what the
trading banks create and lend, and wether they "loose" it or not, is a
bit of bank created mythology. And an attempt to divert criticism from
their fraudulent behaviour.
The truth was realised by many a very long time ago. And I have to admit
that I have not heard the defence you have offered for some time :-)
Ken.
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Date: Thu, 25 Aug 2005 08:27:31 -0700
From: Joe Thomson <thomsonhiyu@shaw.ca>
To: socialcredit@elistas.com
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References: <memo.854118@cix.compulink.co.uk>
Subject: Re: [socialcredit] insurance premium?
X-Envelope-To: kenpalmerton@cixcouk.cix.co.uk
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>
(Ken Palmerton wrote:-) > If the loan was created out of nothing, which the
vast majority of loans
> are. and If the loan is lost, what was "risked"?
>
---------------------------------------------------------
(Joe replies:-) The Bank's shareholder's equity in the Bank, Ken. It
wouldbe reduced by the amount of the loan loss in their books. Even
though theconcept is 'creditary', there is still a loss in that all the
'credit' theBank may have built up in retained earnings, various reserves,
etc. is nolonger available to its owners. If it has to be paid out to
cover the loss,it reduces their equity by that amount.
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