In-Reply-To: <6.2.1.2.2.20081231161454.01fd4be0@mail.netrover.com>
Hi Ed.
Thank you for the response.
The role of the Bank of Canada is probably a bit clearer than most other
nations central banks, though the interference of the BIS (Bank for
international settlements) is still present.
Still smoke and mirrors :-(((
In what other sort of trading enterprise would it be normal to try to have
ones customers confuse assets with liabilities ? But then "confidence" is
everything to a banker, how else can the con be perpetuated ?
I treasure the picture of Montague Norman (Professor Skinner) scuttling
off to Canada the day Alberta attempted to break ranks :-))))
Ken.
-------- Original Message --------
*From:* Ed Goertzen <egoert@netrover.com>
*To:* socialcredit@elistas.com
*Date:* Wed, 31 Dec 2008 16:34:48 -0500
Hi Ken:
I'm new to the list, hopefully I'll not duplicate ground already covered,
In Canada the definition of a "bank" is a company given a charter by
government permitting it to "accept deposits".
The generally accepted and conventional wisdom, which is a major error, is
that "banks" accept deposits of money for the purpose of lending it to
borrowers. This contributes to the perception that the difference interest
paid the depositor of money and the rate charged the borrower of credit is
taken as the bank's gross profit.
That is patently wrong!
The reason banks USED interest to attract depositors money was twofold, it
was attract legal tender currency, which the bank USED to need in order to
leverage it, and lend it to borrowers who deposited market value
collateral.
Secondly, it was to keep alive the fiction that they lent the MONEY of
depositors to borrowers.
When a person deposits money into a bank, that is the bank's liability,
and
banks do not lend their liabilities.
With the abolition of fractional cash reserves, they no longer need legal
tender, except for those Lollards who still use cash.
The deposited collateral becomes the banks assets as differentiated from a
banks capital.
If you want to know how much borrowers owe the banks, look at the assets
they hold, and upon which they collect interest.
The interest banks collect goes three ways. to pay for operations, to
place
into "reserves" for anticipated losses, and to pay dividends to
shareholders.
Note: Banks do not pay tax upon the amount held as reserves for
anticipated
losses.
Regards
Ed G
Canada
At 10:30 AM 12/31/2008, you wrote:
>--=======AVGMAIL-495BDB130000=======
>Content-Type: text/plain; charset=us-ascii
>
>In-Reply-To: <C0F67554DBCE4D7DA2DEBE54A6508646@usere1429abd4f>
>Hi Graeme.
>
>Depends upon how you define a "Bank".
>
>In the UK a banks right to create money is enshrined in the 1844 bank
>charter act. An act of fiction even in its early days :-( but it once
>helped differentiate between trading banks, the ones with the creation
>right, and merchant banks, the ones that borrowed and lent on a margin for
>their profits.
>
>With our building societies now acting exactly like any other bank there
>is even more confusion :-(((
>
>But the idea of banks lending to banks is a good story to hide behind,
>when the general public is beginning to get the idea that the banks are in
>some way responsible for "rowing " the economy for their own ends.
>
>To maintain the immoral advantages of the fractional reserve principle,
>good spin doctors are needed as never before :-(((
>
>Ken.
>
>
>
>--=======AVGMAIL-495BDB130000=======
>Content-Type: multipart/alternative;
> boundary="=======AVGMAIL-495BDB130000======="
>
>--=======AVGMAIL-495BDB130000=======
>Content-Type: text/plain; x-avg=cert; charset=us-ascii
>Content-Transfer-Encoding: quoted-printable
>Content-Disposition: inline
>Content-Description: "AVG certification"
>
>
>No virus found in this incoming message.
>Checked by AVG - http://www.avg.com
>Version: 8.0.176 / Virus Database: 270.10.1/1870 - Release Date:
12/31/2008 =
>8:44 AM
>
>--=======AVGMAIL-495BDB130000=======--
>
>--=======AVGMAIL-495BDB130000=======--
---------------------------------------------------------------------
Some introductory materials to the discussion topic of this list are at
http://www.geocities.com/socredus/compendium
You're subscribed to this list with the email
kenpalmerton@cix.compulink.co.uk
For more information, visit http://www.eListas.com/list/socialcredit
No virus found in this incoming message.
Checked by AVG.
Version: 7.5.552 / Virus Database: 270.10.2/1871 - Release Date:
01/01/2009 17:01
--
*Included Files:*
am2file:001-HTML_Message.html
|
Re: [socialcredit]
Reply to this message