Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Is this bs

Options
2»

Comments

  • Options
    #32
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    Zebra3 wrote: »
    All the power lies with those who control the supply of money.

    Yeah but it's just imaginary money, so all that power they have is also imaginary right?


  • Options
    #33
    ScumLord
    Registered Users Posts: 28,789 ✭✭✭✭ScumLord


    srsly78 wrote: »
    Yeah but it's just imaginary money, so all that power they have is also imaginary right?
    In a way yes it is. The only reason they have power is because everyone is willing to go along with their rules. Pretty much everything human society generates is essentially imaginary. Economies, laws, ideals none of these things exist outside of the human imagination. Which makes the fact that we allow these people to rule over us even more ridiculous.


  • Options
    #34
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    This imaginary food I just bought with my imaginary money tastes pretty good. I think...

    Oh, if you don't want that imaginary money I will look after it for you.


  • Options
    #35
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,050 Mod ✭✭✭✭AlmightyCushion


    The Irish Central Bank is owned by the state, any profits it makes it gives back to the state. The ECB is owned by all the other central banks in the Eurozone. Both the Fed and the Bank of England are also owned by their respective states. The rest is mostly true but phrased in a way to make it look like a conspiracy to enslave us all. You don't have to take on debt if you don't want to. Even if you do, why is the money impossible to pay back just because the principle was created? If we removed the ability of banks to lend money they don't have, it doesn't make it any harder for me to pay back the €xxxx I owe on a loan.


  • Options
    #36
    Pal
    Closed Accounts Posts: 4,115 ✭✭✭Pal


    I understand banking, finance, money creation, economics and monetary policy.
    Just can't get the hang of Facebook.


  • Advertisement
  • Options
    #37
    My name is URL
    Registered Users Posts: 25,067 ✭✭✭✭My name is URL


    This guy has a good take on quantitative easing and why it's not as good an idea as central banks let on. I know people think that calling it 'counterfeiting' is absurd, but it has the exact same effect on an economy.
    Here is why printing money can never lead to economic prosperity. The only way a nation can increase its GDP is to grow the labor force and increase the productivity of its workers. But the only "tool" a central bank has is the ability to dilute the currency's purchasing power by creating inflation.

    Central Bank credit creation for the purpose of purchasing bank assets lowers the value of the currency and reduces the level of real interest rates. Interest rates soon become negative in real terms and consumers lose purchasing power by holding fixed income investments.
    Investors are then forced to find an alternative currency that has intrinsic value and cannot be devalued by government. Commodities fill that role perfectly and prices rise, sending food and energy costs much higher. The increased cost of those non-discretionary items reduces the discretionary purchases for the middle class. The net effect of this is more and more of middle class incomes must be used to purchase the basics of existence. Therefore, job losses occur in the consumer discretionary portion of the economy.

    The inflation created by a central bank also causes interest rates to become unstable. Savers cannot accurately determine the future cost of money and investment activity declines in favor of consumption. Without having adequate savings, investment in capital goods like machinery and tools wanes and the productivity of the economy slows dramatically.

    The result is a chronically weak economy with anemic job growth. This condition can be found not only in the U.S. but in Europe and Japan as well. These stagflationary economies are the direct result of onerous government debts, which are being monetized by their central banks.

    http://www.huffingtonpost.com/michael-pento/fed-interest-rates_b_1894311.html
    AlmightyCushion wrote: »
    The Irish Central Bank is owned by the state, any profits it makes it gives back to the state. The ECB is owned by all the other central banks in the Eurozone. Both the Fed and the Bank of England are also owned by their respective states. The rest is mostly true but phrased in a way to make it look like a conspiracy to enslave us all. You don't have to take on debt if you don't want to. Even if you do, why is the money impossible to pay back just because the principle was created? If we removed the ability of banks to lend money they don't have, it doesn't make it any harder for me to pay back the €xxxx I owe on a loan.

    Yeah, the state will take it on on your behalf!


  • Options
    #38
    blackwhite
    Registered Users Posts: 8,519 ✭✭✭blackwhite


    AlmightyCushion wrote: »
    The Irish Central Bank is owned by the state, any profits it makes it gives back to the state. The ECB is owned by all the other central banks in the Eurozone. Both the Fed and the Bank of England are also owned by their respective states.

    The Bank of England is a private limited company owned solely by the British State.

    The idiots who run the facebook page see the word private and assume it means that it is in private ownership. What it actually means is that the shares cannot be traded on a public exchange.
    That the morons running the page dont even understand the basic concepts around the legal structure of the BoE should be a good indicator of how much weight to give the rest of what they post.


  • Options
    #39
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,050 Mod ✭✭✭✭AlmightyCushion


    blackwhite wrote: »
    The Bank of England is a private limited company owned solely by the British State.

    The idiots who run the facebook page see the word private and assume it means that it is in private ownership. What it actually means is that the shares cannot be traded on a public exchange.
    That the morons running the page dont even understand the basic concepts around the legal structure of the BoE should be a good indicator of how much weight to give the rest of what they post.

    Ah, that explains it. This thing has been going around a bit (it started off with the fed a couple of years back). I always wondered where they got the idea it was in private hands.


  • Options
    #40
    crazy cabbage
    Registered Users Posts: 738 ✭✭✭crazy cabbage


    As the saying goes "money only has power if everyone agrees to let it have power".


  • Options
    #41
    imitation
    Registered Users Posts: 1,815 ✭✭✭imitation


    drdeadlift wrote: »
    3. they charge interest on this made up money, which is impossible to pay back because as they only create the principle of a loan. therefore the interest must come from your real world assests or your servivtude in a job. ie how many people have you heard say " i'm going to retire as soon as i have paid off my mortgage?"

    I hate this bollox so much, I like the way they phrase it like there is some kind of alternative..

    How is society supposed to function if people don't work (servivtude in a job ?!! I should be on a beach somewhere, despite having done sweet f** all to have earned it)

    Inflation is required, otherwise people will just stuff there money in a mattress, businessmen won't get finance and once again the arse falls out of society.

    These crusty s should take off there tinfoil hats and get out once in a while, may try there hand at actually doing something useful to the world rather than spouting ****e about being oppressed.


  • Advertisement
  • Options
    #42
    squod
    Closed Accounts Posts: 8,704 ✭✭✭squod


    Completely off topic but interesting nonetheless.


    http://rt.com/news/germany-reclaims-gold-us-094/
    Bundesbank voiced plans to withdraw its entire 450-ton store of gold bullion from the Bank of France in Paris, and a portion of the 1,500 tons currently held by the New York Federal Reserve, Handelsblatt reported
    "This sends a message about storing gold near you and taking delivery no matter who is holding it,” Sinclair told British newspaper the Telegraph


    Be looking out for an armoured ship with ''Brinks Allied'' written on the side.


  • Options
    #43
    Drumpot
    Registered Users Posts: 19,306 ✭✭✭✭Drumpot


    Alot of the OP is true . . .

    Central banks might aswell be owned by private institutions for all their worth. . Banks are pretty much running the show and can do pretty much whatever they like without serious ramifications . .

    http://www.rollingstone.com/politics/blogs/taibblog/outrageous-hsbc-settlement-proves-the-drug-war-is-a-joke-20121213

    Its a shame most people can watch a link of "the daily shows" piece on this abtley titled "bank ****" . .

    http://www.thedailyshow.com/watch/wed-january-9-2013/bank-****---hsbc

    There is no conspiracys against the banks and you dont have to dig to deep to see the actions that banks get up to and away with around the world because most governments are afraid of their lives of the knock on ramifications . . Yet we continue with the same model (with a few cosmetic changes designed to fool people into thinking something dramatic has changed!) thinking that somehow things will eventually change through evolution ! !

    Banks control everything, perhaps not directly, but their influence is so powerful and when govervnments decides that an institution is too big to fail, irrespecitive of its actions then it is above the laws . . People just dont like to admit that we are all being ridden sideways and prefer to lazily profess that "theres no other alternative" . . Like the abused wife who doesnt see how she can live without her abusive husband, we too just cant let our abusive banks go . . No matter what they do . .


  • Options
    #44
    enda1
    Registered Users Posts: 5,166 ✭✭✭enda1


    Drumpot wrote: »
    Alot of the OP is true . . .

    Central banks might aswell be owned by private institutions for all their worth. . Banks are pretty much running the show and can do pretty much whatever they like without serious ramifications . .

    http://www.rollingstone.com/politics/blogs/taibblog/outrageous-hsbc-settlement-proves-the-drug-war-is-a-joke-20121213

    Its a shame most people can watch a link of "the daily shows" piece on this abtley titled "bank ****" . .

    http://www.thedailyshow.com/watch/wed-january-9-2013/bank-****---hsbc

    There is no conspiracys against the banks and you dont have to dig to deep to see the actions that banks get up to and away with around the world because most governments are afraid of their lives of the knock on ramifications . . Yet we continue with the same model (with a few cosmetic changes designed to fool people into thinking something dramatic has changed!) thinking that somehow things will eventually change through evolution ! !

    Banks control everything, perhaps not directly, but their influence is so powerful and when govervnments decides that an institution is too big to fail, irrespecitive of its actions then it is above the laws . . People just dont like to admit that we are all being ridden sideways and prefer to lazily profess that "theres no other alternative" . . Like the abused wife who doesnt see how she can live without her abusive husband, we too just cant let our abusive banks go . . No matter what they do . .


    Grrr grrr grrr
    Gnash gnash gnash

    Any chance you could tell us about these problems or substantiate your post with any information at all?


  • Options
    #45
    Gummy Panda
    Closed Accounts Posts: 20,920 ✭✭✭✭Gummy Panda


    srsly78 wrote: »
    Guess who owns the Irish banks... Hint: not the lizards.

    Crab people?


  • Options
    #46
    Drumpot
    Registered Users Posts: 19,306 ✭✭✭✭Drumpot


    enda1 wrote: »
    Grrr grrr grrr
    Gnash gnash gnash

    Any chance you could tell us about these problems or substantiate your post with any information at all?

    Did you even read the HSBC link ? They were knowingly laundering drug money and teaching Iran terrorists how to bypass the US banking system (laundering) . .

    What more evidence do you need exactly ?

    Perhaps the ones about Barclays setting rates ?

    http://www.independent.co.uk/news/uk/politics/taxpayers-face-500m-bill-for-rbs-libor-fraud-8452959.html

    While i know Irish Banks were technically not found to be guilty of anything wrong , I think most of us know otherwise. . Course with the regulator shipped out as quickly as possible we will never really find out exactly what he meant by "don the green jersey" , but in one scenario a bunch of investors bought a load of anglo stock to prop up the share value (usually considered illegally massaging a share price, but never mind) . .

    People are so subservient and conformed to banks being "the only way" that they are blind to the most obvious thing right on front of them . .


  • Options
    #47
    enda1
    Registered Users Posts: 5,166 ✭✭✭enda1


    Drumpot wrote: »

    Did you even read the HSBC link ? They were knowingly laundering drug money and teaching Iran terrorists how to bypass the US banking system (laundering) . .

    What more evidence do you need exactly ?

    Perhaps the ones about Barclays setting rates ?

    http://www.independent.co.uk/news/uk/politics/taxpayers-face-500m-bill-for-rbs-libor-fraud-8452959.html

    While i know Irish Banks were technically not found to be guilty of anything wrong , I think most of us know otherwise. . Course with the regulator shipped out as quickly as possible we will never really find out exactly what he meant by "don the green jersey" , but in one scenario a bunch of investors bought a load of anglo stock to prop up the share value (usually considered illegally massaging a share price, but never mind) . .

    People are so conformed to banks being "the only way" that they are blind to the most obvious thing right on front of them . .

    OP's about central banks, not commercial banks.


  • Options
    #48
    Drumpot
    Registered Users Posts: 19,306 ✭✭✭✭Drumpot


    enda1 wrote: »
    OP's about central banks, not commercial banks.

    How the banking industry is regulated and treated/penalised when a bank does wrong is very important when trying to ascertain who is really in control of the central bank. .

    Put it this way, if I was a Taoiseach voted in by the electorate but I was under the influence of a large vested company or mafia character, I would technically be working for the people, but I would be at the very least be accused of prioritising the interests of another party while being under the payrole of the state. .

    The Central banks may appear to be the masters, but really they are just the puppets. . Sounds like a conspiracy, but in truth has much happened in the last 5 years in the banking industry shown that the Central banks are really calling the shots ?


  • Options
    #49
    Kichote
    Registered Users Posts: 305 ✭✭Kichote


    AlmightyCushion wrote: »
    If we removed the ability of banks to lend money they don't have, it doesn't make it any harder for me to pay back the xxxx I owe on a loan.

    Unless your supply of money depends on peoples ability to get loans from banks which to be honest it probably does


  • Options
    #50
    oppenheimer1
    Closed Accounts Posts: 6,084 ✭✭✭oppenheimer1


    drdeadlift wrote: »
    Seen it on an fb page "topple the banks"

    if you think that the monetary system is complicated then you are completely wrong.
    here it is in a nut shell.

    1. central banks like the federal reserve, bank of england and the european central bank are privately owned, which means they have little to do with the government and the main drive behind them is to make a profit for the share holders at the expense of the public.

    2. they create money out of thin air, at very little expense to themselves.

    3. they charge interest on this made up money, which is impossible to pay back because as they only create the principle of a loan. therefore the interest must come from your real world assests or your servivtude in a job. ie how many people have you heard say " i'm going to retire as soon as i have paid off my mortgage?"

    4. when you cant pay back the money that was created out of thin air (therefore has no real value) they repossess your property, ie your house, farm or car (which does have real value) therefore hoarding all the wealth in the world making the rich bank owners richer and keeping the average man in poverty.

    everything else about the banking system is smoke and mirrors designed to overcomplicate and confuse people so the accept this completely corrupt system



    http://www.facebook.com/pages/Take-YOUR-Money-Out-Of-Banks/542911859060192

    While I don't know about the others, the Bank of England was nationalised after the Second World War.


Advertisement