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Joe
for answering your question, if I charge a fee, say 20
money numbers, and you pay me 10 of those, and still owe me 10 more, I have
neither created new money, nor extinguished any.
Just conducting a financial transaction.
Does that clarify your question about when banks do this?,
to wit
But if the banks have credited their own
accounts with the costs of providing their services
BEFORE they've received any interest from the the loans they make, would not a
large part of the interest received extinguish these costs?
cheers
Graeme Taylor
Joe writes
----- Original Message -----
Sent: Tuesday, May 19, 2009 12:59
AM
Subject: Re: [socialcredit] Re: 100
percent reserve system
(Graeme Taylor wrote:-) "The interest and other charges
by banks, are a fee for their services, the same as any other business charges
more than it costs. I can't see any money extinguishment, nor creation, in
these fees."
(Joe Thomson replies:-) But if the banks have credited
their own accounts with the costs of providing
their services BEFORE they've received any interest from the the loans they
make, would not a large part of the interest received extinguish these
costs?
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Re: Re: 100 percen
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