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joined aug 2017

share kc4 and generate bitcoin with reference codes.

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10 posts by kc4

1 post

+8 votes

on {Economics}

How do banks "create" money?

thanks muchly, think you might like richard werner

+26

on {Economics}

How do banks "create" money?

I know they make lots of it with fees, I can see this shit in my own account but someone tried to explain to me that individual banks can create money out of this air and I didn't understand.

+20

sidetracked

When banks create a new loan they must also create an equal and opposite liability, in the form of a new demand deposit. Meaning when banks loan they create money out of thin air. They simply make it exist.

There is a really good series on YouTube that goes in to great depth about how it all works.

https://www.youtube.com/user/whygoldandsilver

bubba2488

nice man, thanks for sharing will 100% be putting this on later

sidetracked

I binged watched the series in one night. No regrets haha. Really gets the brain matter flowing. That link is to his main channel, it seems he has a lot of new content. Even some videos on crypto.

This is the link to his main series I was talking about, that goes in to great depth on banking, the federal reserve, fiat currency and economics as a whole. Enjoy!

https://www.youtube.com/watch?v=DyV0OfU3-FU&list=PLE88E9ICdipidHkTehs1VbFzgwrq1jkUJ

sidetracked

I do indeed. Interesting solutions. Mike's series (if I remember correctly, it's been a few years) doesn't really go in to any solutions to the many economical issues we have, if at all. So this was a nice listen. Ty!

+10

British Bulldog 9.9/10

Quantitative Easing.

The ECB have been doing it for years, with no federal reserve at all.

All countries do it to a greater or lesser extent.

The reason the (US) dollar is so popular is they have a federal reserve (gold).

The reason the Euro is failing is it's based upon the German banks and their megalomaniacal desire to control Europe.

There is no EU federal reserve. Only German banks.

When the EU (and Euro) collapses, Germany will be fine, the other 26 member states will fail.

Invest as you will.

Cheers. BB

jcantona99

Petrodollar is interesting on another topic. What do you think ? It’s funny what is out there that the vast majority of people do not know about in the financial and political landscape. The petrodollar is perplexing to me

Beauteous

Money is just an I Owe U ... it says so on your GBP £ notes ! something like ... ''I promise to pay the bearer the sum of twenty pounds'' .... hmmm? but you are handing over a physical £20 note made out of paper or plastic. BUT it still is an I OWE YOU, because the actual note is a ''promise TO pay'' .. the note is not backed up by gold anymore...back in the day... money was real... now it is just digital numbers on screens, according to my limited knowledge about it. I will keep up with this thread tho, as I would like to hear what others on LB think :)

Smokeysworld

Banks also "Trade Client" funds in a range of assets from , bonds, to stocks hence why you will receive interest each month or annually on your account; that is miniscule compared to what they generate from trading your funds (which is also why your funds are insured). but there are many aspects to this and variables as i've read below each of which is pretty much true.

Jamjarjim

Spot on smokey!

defnote

"since banks work as the accountants of record – while the rest of the economy assumes they are honest accountants – it is possible for the banks to increase the money in the accounts of some of us (those who receive a loan), by simply altering the figures. Nobody else will notice, because agents cannot distinguish between money that had actually been saved and deposited and money that has been created ‘out of nothing’ by the bank” - Richard Werner

ravi smaalz

Yes if they say its "in the bank" that's all it takes to do what they want with it - regardless of whether it exists.

Gods Connect 9.7/10

Banks literally print money and we are expected to accept it has value when in actual fact there is nothing backing fiat currencies anymore. Used to be that dollar was backed by gold reserves then oil but now its backed by the promise... Basically the whole world is in a debt/credit spiral that will unravial at some point...

Cali Connect 9.7/10

The dollar will collapse, thank me later

CBDC coming soon.. to a place near you!

(Not Financial Advice) 🥸

Jamjarjim

One word. Credit.

Slewdem1184

They don't create money, they create an illusion. Pepe is the only money worth anything

RealD 9.8/10

Money printer go brrr

Bigbum

All began with financial deregulation in the 1970’s . The banks just click some buttons and magic. Then you pay them back, what a business!!!

This is a major cause of inflation. They are putting money that hasn’t been earned yet from the future in todays circulation . That’s why our money 💰 s worth fuck all now. Well one of the many reasons;)

Jakko1992

I thought we just discovered all money, is in fact, cake.

bigbilllittleben 9.4/10

not individual banks! but they do make money lol dont make much sense does it

little ben

goldman sucks

yes, individual banks, check out the werner stuff in this thread. basically it's just accounting that makes them book things twice. if it's on a bank's books it is money.

Haze4daysCheesse4zs

When a bank makes a loan it is creating fiat currency

Gratesmanes

It's depending on the existing customers within the bank actually , so you deposit money into the so called bank but in fact the bank lends it to other people within the banking system and charges interest on that.
Banks are the only ones legally able to create wealth out of thin air , digits on the computer.
For example when you get a loan - digits , but you have return back with interest to the bank Real money from your job , revenue streams.
Circular Banking.

AsianAndy

It's all about complex energy numbers.

Haze4daysCheesse4zs

They don't, they make up fiat currency (£, $, € ect ect) just a bar code number to give it a vaule. Money is only something that can be equally treaded fairly ie gold.

Beauteous

good thread :)

Essemcee

Yes Werner's study explains the double ledger. The implications being that when you deposit your own fiat, what is really happening is that the banks are purchasing security futures from you with promises to pay. The b of e charter actually explains that they cannot and do not lend money or take deposits.
White rabbit trust on YouTube and youandyourcash.com seek and example plenty of successful remedy.

1 post

+12.2 votes

on {cannabis}

How Can I Stay High All the Time?

started topic

+12.2

on {cannabis}

How Can I Stay High All the Time?

1 post

+13 votes

on {inspiration}

Richard Feynman: Take the world from another point of view

started topic

1 post

+3 votes

on {stoned thouhhts)

If sword art online was a possibility would you do it?

depends which season

on {stoned thouhhts)

If sword art online was a possibility would you do it?

tescrow 9.7/10

Season 1 of course

tescrow 9.7/10

Nah definitely other than season 1 it was a bit whack tbh, the survival aspect of season 1 made it so much more interesting

Shipitout

Yeah I agree that was like the whole premise for it, I don't know whether there was a Manga before when all the other worlds came out or whether they just finished S1 and some angry Japanese feller comes in with a ciggy hanging out his mouth "NEXT SEASON THINK OF SOMETHING GO!"

SPOILER SPOILER SPOILER: I wasn't fussy on any series after 1 but the kid with AIDS hit me harder than I thought it would. I'm getting soft in my old age.

tescrow 9.7/10

Honestly that’s what it seemed like, they should’ve just prolonged season 1 bc the story line was so much better, maybe an episode or two per level would’ve made sense. And yeah sometimes the storylines have a way of hitting the feels like the chimera in full metal alchemist 😭

1 post

+5 votes

on [human behavior]

Extrovert bias, the invisible discrimination

I understand why she wanted to hide now.

+19

on [human behavior]

Extrovert bias, the invisible discrimination

https://thefineryreport.com/articles/2021/6/18/extrovert-bias-the-invisible-discrimination

tldr we are ruled by loudmouths!

+11

pollypuff20

I often feel sorry for the extroverts I know because they are never happy just in their own company. I think that must be awful, to need to be with other people all the time….

Hootie and the Blow Job

im an extrovert and just for that im going to hurt you:

pollypuff20

Ouch! 😖😝

Todd's Sure Thangs 10/10

aint life beautiful!

greencigar

Now people who inadequately communicate can be victims too! (extrovert here)

sarek

sounds like everybody

greencigar

One of my favourite Radiohead songs. Also one of their best videos.

1 post

+13 votes

on {web 3.0}

Jaron Lanier's Data Dignity (video)

started topic

1 post

+4 votes

on {web 3.0}

UniRep

started topic

1 post

+9 votes

on {shade}

a father of our freedoms

started topic

1 post

+3 votes

on {helplandia}

Javascript on Society

started topic

1 post

+4 votes

on smoovWillie

any tips for building a buyers reputation?

Be kind and you pretty much have got it made.

on smoovWillie

any tips for building a buyers reputation?

I have been purchasing anonymously here for about a year and realize it was a mistake comma if you ever have a dispute or even just want to leave a kind review you got nothing there is no advantage think about it your username doesn't link to you anymore than the word anonymous does so now I have an account (no this) and I want to accelerate my rep and makeup for a years worth of waste.