| Subject: | Re: [socialcredit] the reality? -- the true assets of banks | | Date: | Saturday, November 20, 2004 08:07:42 (+0200) | | From: | Jessop Sutton <sutton @...........za>
|
On Wednesday 17 Nov 2004 7:47 pm, william_b_ryan@yahoo.com wrote:
> "But the essential point in the position of banks,
> which is so hard to explain, and which is grasped by
> so very few people, is that their true assets are not
> represented by anything actual at all, but are
> represented by the difference between a society
> functioning under centralised and restricted credit
> and a free society unfettered by financial
> restrictions.
======================
I haven't looked at a bank's Balnce sheet, but is it not true that the banks
are as heavily invested in buildings and property -- all rentable space -- as
are the Insurance companies? Are these not also their "true assets"?
That is apart from the fact they have virtual ownership -- they can take
possession -- of bonded properties (and cars etc.) against which credit has
been granted to borrowers?
But, yes -- "the difference between a society functioning under centralised
and restricted credit and a free society unfettered by financial
restrictions", I suppose does sum up the end result of all the credit-based
activity.
Jessop.
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