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

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

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

thanks muchly, think you might like richard werner

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!

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

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

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 :)

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.

Spot on smokey!

"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

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.

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...

The dollar will collapse, thank me later

CBDC coming soon.. to a place near you!

(Not Financial Advice) 🥸

One word. Credit.

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

Money printer go brrr

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;)

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

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

little ben

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.

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.

It's all about complex energy numbers.

good thread :)

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.

my guava live resin under a microscope

Yeah ok show off ;) Lol. Does look banging. I've looked at it so many times but money is TIGHT and just have to go for cheaper material at the moment. Really hope I can afford to try one before they go. Doubtful.

Here's one to start.
1.14g pineapple glue rosin pressed from 5g for 22.8% yield. Very happy.
Sorry about the focus on the last pic there, that's a shame. Starting material courtesy of LegacyUKDank

Beautiful

Some return you got there

Yeah I was hoping to hit near 20% so I'm more than happy. Tastes fucking great too

Thats probably the glue genes why it give you good yields, how do you manage to keep it so clear did you use a bag?

Yeah pressed Bottle Tech with 160u. Given the clarity of the rosin I think it's senseless to go lower in microns for flower and lose yield. It dabs clean. You can read through the stuff. Pressed high temp (for me) as I was going for yield at 210f/98.8c for total time on plate of 120 seconds with slow application of pressure to approximately 1000psi on the material. I always hydrate to 62%rh and if it's dead and crumbly I don't reduce micron size, it's just not worth pressing. I see the bag as a tool for maintaining surface area as opposed to cleaning the product so that pressure can be consistent throughout the press and the bud doesn't escape through the sides of the plates and into the rosin. The clean result is a lovely and welcomed bonus but I don't see the need for even cleaner by sacrificing yield. I believe the pale colour is due to freshness of the material and lack of oxidation before it got to me.

Chopper, I've asked elsewhere, but just incase you missed it, I'll ask here, where do you get your rosin bags, Ebay or better quality than those on there?
I'm looking to press a bit and put some samples up on my wall

Cheers

Answered in the other topic but in case anyone else was wondering, I'll paste it here too.

I think I preferred the Devil Press bags over the others I've tried. I'm stretching my memory now but I have a vague recollection that the squish-it bags would blow out before hitting optimum pressure, but then I was fairly new to the rosin game so could well have been me doing something wrong like too much pressure too quickly. I'm currently using Rosin Tech Products "ultra sonically sealed" that have no sewn seem. The rosin can't get caught up in the stitching but I've found that the sealed edge is the first place to blow and happens with a little less pressure than the Devil Press bags so caution is required. I think you can still get the Devil Press ones on Ebay and other places online. I bought the RTP bags I have now from their EU website along with some other bits. When they're gone I THINK I'll go back to Devil Press myself but may change my mind towards the end if the learning curve.

Not here to shoot anyone else for their efforts but I'm more than happy to give advice and learn from others but don't want this topic to become a bashing circle. At the end of the day I agree that is isn't the most visually appealing but I cannot comment on it without trying it. The one thing to keep in mind is that, despite what people seem to believe, I can assure you that darkness does not mean inferior with regards to taste or potency. It could do, of course, but it could also mean some fire weed was used that had been curing a while longer before being used. It's also important to note that (especially) with shatter made from either isopropyl or ethanol alcohol, the difference between a dark and light result from the same batch of material is due to less purging or at lower heat. The PPM count for impurities from the solvent is exponentially higher in the lighter extracts. This last point obviously doesn't apply to rosin.

I wouldn't know with shatter but quality seems to effect rosin

Oh absolutely, I just meant to say that the impurities from the solvent doesn't apply to rosin as none are used. But quality doesn't always mean light in colour

Old kief can be dark but still taste nice though

Amnesia Lemon Hash from Drugs Inc

No other entries, anyone? Was looking forward to seeing what y'all are making!

This is it mate

That's fine for pressing a few grams at a time. Easily enough pressure for 2"x2" or 1"x4" bag if it's a 1 ton press Make sure the nut's adjusted so that the lever JUST locks out under full pressure, keeping in mind that you'll have the width of the bag to account for. Apply pressure very slowly, over 30 seconds or longer. You should feel it soften as you go. You want to ease, not crush. I'd pull after 20 seconds or so after full lock depending on activity.
If it's really clean kief you could probably get away with 160°f for better quality to 180°f for still very good quality and better yield but wouldn't go higher than that. Most important thing is slow pressure, especially at lower temps.

More concentrates for sale pleaseeeeee

And to you Epix. And everyone else here at LB. Looking forward to what 2020 holds for us all.

I didn't know you were so close to home =) Merry Christmas mate.

Thx epix, and so Merry Christmas to you from Scotland as well :)
Moved here over 3 years ago and found about LB few months ago and must say was surprised community like this exist. Makes it easier :)

Thank you ficek! I moved to Scotland just over two and a half years ago myself =) Nice place, and LB is amazing as well! Good times all around.

Bloody hell im in Scotland aswell merry christmas to all. whens the meet up happening in Scotland now? hah

haha! I'm down for a meet up in Edinburgh or Glasgow for sure.

I would be for some meet up. In Edinburgh sure. Anytime guys

cool. i'll speak to people and try to set something up.

That would be great epix. Let me know :)

lets make it happen, Scotland wont know what hit it! haha

I'll see what's up.

Merry Xmas Epix. Hope you have a good one mate.
Season Greetings from London.