Anything to help clear the smog of disinformation around money

point on review of Babylons Banksters

Your bank loan creates a deposit account that is yours not theirs

1864 – allows banks to open a deposit (9102) account based on a promissory note. Create money out of your debt by exchanging YOUR promissory note for fed notes (upon which interest is owed).

1913 – Federal Reserve Act – centralized the 1864 banks

National Debt is not Govt spending more than it makes. It’s the G paying back the interest on the bonds it takes out with the Fed (for which there is never enough money in the system to pay) -> more bonds

Financial instrument is anything that u can buy/sell on open market or in private

Issue check/swipe credit card – orders (to bank) to pay

Credit card application is a PN

“Give it to whoever you want and I’m not going to come and get it back” – i.e. YOU are lending money out interest free (without having agreed to).

They don’t pay out loans from the money deposited otherwise no additional money would be created and it wouldn’t be possible to pay the interest (not enough in circulation).

They accept PNs in exchange for transactions to the borrower’s transaction account (deposit account). Which is an asset and a liability to the bank.

People don’t think of Fed notes as debt (just as means of exchange).

Banks not getting from investments (theoretically, but not practically, possible), other depositors or their own capital (not allowed). They don’t have any assets to lend. What’s left – liabilities (debt is money) – which they sell to the Fed, who put new money into circulation (at interest)

Fed uses to bomb Afghanistan, sell to IMF etc. -> can be used for ‘reconstruction’

We give the liability (debt money) to the bank interest free.

As the ‘borrower’ you don’t know you are the depositor – do you ever come back for your money? No. Bank moves it to Income ledger (+ they get your interest).

GAAP says the loan is a deposit

Me: they’re spending your (our) PN (s) by putting them into circulation and paying interest to the Fed when G purchases bonds from the Fed. G pays for this short term via taxation, long term by re-borrowing.

Banks get the interest we pay them + ultimately the money back (via the Fed), because we never laid claim to the PN.