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It's official:Banks Don't Lend Money

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Re: It's official:Banks Don't Lend Money

Post by landlubber on Thu Jun 15, 2017 2:20 am

Well, LionsShare, it is actually only we, the people, that create promissory notes or credit...it is at this point in the proceedings that these promissory notes are usually stolen from us. I cannot recall where it was that I read it, but someone offered Argos a promissory note and they said, we used to, but no longer...think about this one then., perhaps this is something that we should be asking those in commerce? Are they likely to turn business away from their doors? Very Happy

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Re: It's official:Banks Don't Lend Money

Post by assassin on Thu Jun 15, 2017 2:33 am

What is a £5 note, what is a £10 note, what is a £20 note, what is a £50 note, what is the credit note they offer you if you return goods and they dont want to pay out cash? all promissory notes.
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Re: It's official:Banks Don't Lend Money

Post by LionsShare on Thu Jun 15, 2017 9:35 am

After reading the last 2 great posts, makes me think about formulating a plan to actually see if the bank will "cash" a prom note for me, to what value though? Perhaps £500 to start or may be £300 - What do you the readers think?

Should I be worried about the bank taking monies from what little saving I have with them if it is not paid back or take a chance? Obviuosly I should move the savings 1st but it has advantages there for me now - my choice I know!
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Re: It's official:Banks Don't Lend Money

Post by assassin on Thu Jun 15, 2017 1:07 pm

Ask yourself some questions, what is a cheque, and what is an IOU, and why are they both legal forms of tender.

The IOU was traditionally used by gentlemen playing cards or similar and is nothing more than a promise to pay, likewise a cheque is essentially the same if a little more formal with an account to charge (cash) it against. If an IOU was not honoured the other gentlemen would discredit the gentlemen issuing the IOU and essentially shun them, they couldn't undertake any financial activities, nobody would accept their credit, and nobody would accept their word as a gentleman.

Take a look at the wording of the post and notice IOU, or "I owe you" which means you incur a debt to another, note the most powerful word "discredit" which means your ability to give credit to another is banned, and when such documents were popular you would create your own credit using your own assets.
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Re: It's official:Banks Don't Lend Money

Post by Waffle on Mon Jun 19, 2017 11:10 pm

The Guardian

Last week, something remarkable happened. The Bank of England let the cat out of the bag. In a paper called "Money Creation in the Modern Economy", co-authored by three economists from the Bank's Monetary Analysis Directorate, they stated outright that most common assumptions of how banking works are simply wrong, and that the kind of populist, heterodox positions more ordinarily associated with groups such as Occupy Wall Street are correct. In doing so, they have effectively thrown the entire theoretical basis for austerity out of the window.

Just consider what might happen if mortgage holders realised the money the bank lent them is not, really, the life savings of some thrifty pensioner, but something the bank just whisked into existence through its possession of a magic wand which we, the public, handed over to it.

https://www.theguardian.com/commentisfree/2014/mar/18/truth-money-iou-bank-of-england-austerity

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Re: It's official:Banks Don't Lend Money

Post by jockenglish on Mon Jun 19, 2017 11:18 pm

So can we use our own 'magic wand' to 'repay' the non-existent money ??

Would really wreck their system wouldn't it !!

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Re: It's official:Banks Don't Lend Money

Post by LionsShare on Tue Jun 20, 2017 10:54 pm

jockenglish wrote:So can we use our own 'magic wand' to 'repay' the non-existent money ??

Would really wreck their system wouldn't it !!
People say POE's WeRe bank is a fraud! This must be the biggest fraud since man has existed Exclamation

Has anyone ever been successful at actually depositing a prom note & had their account actually credited? Have been reading quite alot over the last week or so - even some posts off the old site. I could not find ANYTHING!
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Re: It's official:Banks Don't Lend Money

Post by LionsShare on Tue Jun 20, 2017 11:54 pm

max2000 wrote:Give a Man a Gun he can rob a bank. Give that man a Bank he can rob the World.
YES TOO TRUE lol!
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Re: It's official:Banks Don't Lend Money

Post by LionsShare on Tue Jun 20, 2017 11:57 pm

If anyone is interested found more on bank/prom notes. This may have been posted before but...

https://www.whatdotheyknow.com/request/value

"Dear Enquiries,

many thanks for your reply

from what i can see from the explanation you have given is that a bank note which is a promissory not which the bank of england promises to pay the barer means they will promise to pay them nothing but give or offer other denominations of a promissory note which are also worthless well about 2pence metallic money for production?"
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Re: It's official:Banks Don't Lend Money

Post by Lopsum on Wed Jun 21, 2017 3:10 am

i can confirm they laugh and give you looks when you demand the sum of 20LB!
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Re: It's official:Banks Don't Lend Money

Post by Society of the Spectacle on Wed Aug 09, 2017 7:10 pm

Money Creation ,
Debated in a nearly empty Parliament.
Worth a LOOK,
Could be a historic moment , ( lol )
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Re: It's official:Banks Don't Lend Money

Post by LionsShare on Wed Aug 09, 2017 7:17 pm

Society of the Spectacle wrote:Money Creation ,
Debated in a nearly empty Parliament.
Worth a LOOK,
Could be a historic moment , ( lol )
In the 1st 30 seconds – methods are profoundly CORRUPT – enough said!
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Re: It's official:Banks Don't Lend Money

Post by Waffle on Wed Aug 09, 2017 7:34 pm

Quality share lionshare, Very Happy

Got one back for you Mad

https://www.youtube.com/watch?v=hYzX3YZoMrs

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Re: It's official:Banks Don't Lend Money

Post by LionsShare on Wed Aug 09, 2017 7:48 pm

Waffle wrote:Quality share lionshare,  Very Happy

Got one back for you  Mad

https://www.youtube.com/watch?v=hYzX3YZoMrs
Absolutly BRILLIANT

from the comments below the vid;

Shawn Strickland1 year ago
Wow, just wow. This guy deserve a medal.

Willy Whitten1 year ago
Fractional Reserve Banking ... yes it is a scam, since 1913 this bullshit has been going on.

MrTruth1111 year ago
And they all stare and pretend they did not hear it.  Me:(this I really like - enough said!)

Tomas Nofziger1 year ago
Excellent !!  Extremely articulate. Cogent. Informed. To the point.
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