| Subject: | Re: [socialcredit] straw vote (Joe replies to Ken) | | Date: | Friday, November 18, 2005 20:25:00 (+0000) | | From: | Kenneth Palmerton <kenpalmerton @................uk>
|
In-Reply-To: <001a01c5eb93$847f9200$bad44246@cc.shawcable.net>
Hi Joe.
It is not at all mistaken of you to think me flippant. I have so little
respect for banking practices that it is the only proper response for me
to make :-)
I think one can go mad trying to wriggle through the unnatural intricacies
of the money system :-(((
As for "insurance" Joe. This is the land of Lloyds remember. The most
perfect gambling den ever invented :-)
But I ask you. If you loose what it has cost you nothing to create, WHAT
HAVE YOU LOST ?
Ken.
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Date: Thu, 17 Nov 2005 08:25:26 -0800
From: Joe Thomson <thomsonhiyu@shaw.ca>
To: socialcredit@elistas.com
Message-id: <001a01c5eb93$847f9200$bad44246@cc.shawcable.net>
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Subject: Re: [socialcredit] straw vote (Joe replies to Ken)
X-Envelope-To: kenpalmerton@cixcouk.cix.co.uk
X-UIDL: _QeE.G9LfDB.mta02.mx
(Ken Palmerton wrote:-) We are bidden to dance a merry dance, most of
whichis smoke and mirrors
> :-(
>
> That a banker makes much of "attracting deposits" is either the smoke, or
> the mirror. The reality is that he does not need them, other than to
> delude us the people.
>
> Were a trading bank to be compelled to lodge accounts like every other
> trading company, there would not be a solvent company amongst them. The
so> called "insurance" they hold will not, and cannot, save them. It is
more> propaganda for OUR consumption I fear.
>
(Joe replies:-) There are others on here who can give you a much better
explanation of how the system really works than I can, Ken. And I'm going
to let them do it, since it's important a correct understanding of it all
begained without introducing anything that might detract from that.
I don't particularly disagree with much of what you've said, but there is
quite a bit more to it than that. The 'so called ''insurance'' ' you
referred to above is not designed 'to save them', (the banks), but is
'deposit insurance' maintained (in Canada) with a Crown owned agency, the
Canada Deposit Insurance Corp. The US has an equivalent to that, the FDIC,
I believe. I don't know whether there is anything like that in Britain or
elsewhere.
This is to re-imburse the bank's depositors a specified amount of their
accounts in the event of the bank's failure. Credit Unions, which are
regulated Provincially in Canada, may also have such an agency. In BC
thereis one, a Credit Union Deposit Insurance Co. with which each credit
unionmust carry insurance on most types of customer deposits.
Joe
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