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Swiss referendum on ending Fractional reserve lending


sancho panza

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sancho panza

 

Sadly,it lost,but ye olde Black Pigeon gives an excellent summation of the issues

Still 25% of the population voted against the banking classes.

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2 minutes ago, The XYY Man said:

POLITE NOTICE: Please keep your answers simple guys - I'm a bit of a thick cunt...

Yep!

 

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19 hours ago, The XYY Man said:

I'm a working man - so don't I really understand the murky details of the financial word - but from what I have read about this subject, I have a question to ask the more knowledgeable on here regarding such matters.

Forgive my ignorance - but if you suddenly stopped fractional reserve lending, doesn't the world as we know it come to an end...?

POLITE NOTICE: Please keep your answers simple guys - I'm a bit of a thick cunt...

;)

 

XYY

 

We go back to a bartering system if we lose the fungibility of money.

:)

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2 minutes ago, The XYY Man said:

Excellent.

That'll certainly reveal the true value of every bastards house.

 

1st Man: My family are starving - what can I trade with you for some food...?

2nd Man: Your house for this Fray Bentos pie in a tin, and some Alphabetti Spaghetti.

1st Man: Done...!!!

 

 

XYY

PMSL

still pissing myself you funny git

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leonardratso

hang on, fray bentos? surely thats worth a house and a car.

The instructions to open said tin are probably worth a lot more though.

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leonardratso

do you remember tyne brand? I once saw a tin in a corner shop, might have been 10-15 years ago - i remember it well, it was curry and raisins or some other such shit that probably made dog food smell and look appealing, anyway, the sell by date was at least 8 years before that, and there it was for sale, bold as brass, im sure tyne brand went out of business quite a few years before that. Reminded me of ZZ tops TV dinners - Twenty year old turkey in a thirty year old tin, i would have told the owner but it was a yorkshire shop in a yorkshire town and he was a yorkshireman, so he would have probably doubled the price, or taken it down to antiques roadshow for a valuation.

 

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For fractional reserve banking to be sustainable the banks need to put all the magic money back into circulation.

Otherwise there comes a time when there is not enough money circulating to service the debt. Oh hang on.

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goldbug9999
On 14/06/2018 at 11:35, jm51 said:

For fractional reserve banking to be sustainable the banks need to put all the magic money back into circulation.

Otherwise there comes a time when there is not enough money circulating to service the debt. Oh hang on.

Its worse than that - they need to continually create more credit money so that is enough money in circulation to pay all interest on all the debt, of course the more money they create the more interest there is to pay ...

 

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20 minutes ago, goldbug9999 said:

Its worse than that - they need to continually create more credit money so that is enough money in circulation to pay all interest on all the debt, of course the more money they create the more interest there is to pay ...

 

Erm...

Take your average fucking idiot, and make him take out a massive loan for a car (create some new money). Who actually gets that money, not the idiot. He spends it on a car.

That's the job done. Fly free new money. Flap Flap Flap. Straight into the bank. Get in there!

Interest payments, lack of money? What the fuck! Just take all his shit and kick him out into the gutter. It's a bonus, trebles all round!

The less money the idiots create the more shit the banks can take off them.

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13 hours ago, goldbug9999 said:

Its worse than that - they need to continually create more credit money so that is enough money in circulation to pay all interest on all the debt, of course the more money they create the more interest there is to pay ...

 

Fractional reserve lending is sustainable if done right. 

If the banks are owed interest that the creditors can't pay because there isn't enough money in the system, then it's time to build a new bank. Or a bank sponsored uni. Fiscally, it doesn't matter what the dosh gets spent on. Hookers and cocaine for all banksters and their mates puts money back into the system. A bank windfall tax puts money back into the system.

 

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