Peter of England: He's going to be in REal trouble

[rumpelstilzchen]

I just hope that they don't breed - God forbid.

Two freetards become threetards

[Hanslune]

I just hope that they don't breed - God forbid.

Two freetards become threetards

There is a 12 episode situation comedy in that set up.

[YiamCross]

As you pay off the loan, the liability on the bank decreases, until it returns to zero. No extra money has been created.

(£20,000 for beer? Burnaby is a bit of a cheapskate.)

Creating debt does have the effect of creating money. If you put £20k in the bank, which has to happen before the bank can lend it, and the bank gives it to Burnaby for his beer money then, effectively, there is now £40k in the world. You're still woth £20k though not doing anything with it but Burnaby has £20 k to spend against the day he can either pay it back or use the services of a freetard to make it disappear by proving it's just a fraud. Which option do you think is going to help keep the world turning?

Somewhere along the line the freetards seem to think there's magic in a signature which the banks use to create money. They don't understand the requirement for cash to be deposited before it can be loaned and they always forget the other side of the coin, which is that when debt is repayed the effective increase in money supply is reduced. The money the banks created by lending is destroyed when it's paid back. If real banks could just create money out of thin air then it would soon be worth as much as a Re.

[noblepa]

As you pay off the loan, the liability on the bank decreases, until it returns to zero. No extra money has been created.

(£20,000 for beer? Burnaby is a bit of a cheapskate.)

Creating debt does have the effect of creating money. If you put £20k in the bank, which has to happen before the bank can lend it, and the bank gives it to Burnaby for his beer money then, effectively, there is now £40k in the world. You're still woth £20k though not doing anything with it but Burnaby has £20 k to spend against the day he can either pay it back or use the services of a freetard to make it disappear by proving it's just a fraud. Which option do you think is going to help keep the world turning?

Somewhere along the line the freetards seem to think there's magic in a signature which the banks use to create money. They don't understand the requirement for cash to be deposited before it can be loaned and they always forget the other side of the coin, which is that when debt is repayed the effective increase in money supply is reduced. The money the banks created by lending is destroyed when it's paid back. If real banks could just create money out of thin air then it would soon be worth as much as a Re.

I am not an economist, but I have heard this phenomenon referred to as the "velocity of money". That is, the more people are spending, the more money there is to work with. This is why economists don't like it when we have a recovery, as we have for the past several years, in which the stock market is doing great, but Joe Sixpack is very cautious about spending money, especially if it involves taking on debt.

When Joe doesn't spend money and either saves it or pays down existing debt, the velocity slows; there is less money in the economy. That is why they always talk about getting consumers to spend money in a recovery.

[woodworker]

MM thinks he/she is the payee = someone who is more than a sandwich short of a picnic

Does this mean WeRe in for hours of fun watching videos of idiots asking ordinary innocent people, marketeers, salesmen, bailiffs, police, & court officials if they "work" for Quatloos?

& 290280GO, if you read this, damn right I got the tech to get your number, and location, & I got a decoder ring, phaser, jet pack, cloak of invisibility AND a copy of Harper's Weekly.

Fear me esé!

Yeah, but I got the most powerful wand and the one ring.

[Dr. Caligari]

Did we ever hear what happened to that woman in Illinois who was about to be evicted?

[littleFred]

A story used to be told on SovCit forums, and perhaps still is:

A guy walks into a hotel and puts down $20 deposit on a room, and goes out to lunch.

The hotelier owes $20 to the grocer, so he pays his bill. The grocer owes someone $20 ... etc ... and someone pays what he owes to the hotelier.

Then the guy comes back from his lunch, says he doesn't need the room any more, and gets his $20 back.

But the prevailing theory on GOOFy is that money doesn't exist, so neither does debt. Ho hum.

[NG3]

Did we ever hear what happened to that woman in Illinois who was about to be evicted?

Unfortunately I doubt we'll hear the end to many of these "success" stories because no home often means no internet, so no ability to update about life on the streets, or in a homeless shelter, or even county jail.

[littleFred]

Did we ever hear what happened to that woman in Illinois who was about to be evicted?

She's due in court on 24 September.

[Dr. Caligari]

Thanks.

[vampireLOREN]

Putting aside for a moment that Rob is a complete and utter 5 star idiot, it looks like love has broken out between him and miss porkie pie peaceful warrior.

I love it went two freetards get together, it means that we have months of free entertainment to come. Bit of luck really now that tom and the crawford clan have gone by the by.

"Implement sound routes forward" I wonder if that is NewSpeak for what nature might call something else?
Your WeRe account or mine ? darling......how balanced.
I really would love to know how many of the WeRe bank account holders are up to date with their monthly
subscription.

[PeanutGallery]

& 290280GO, if you read this, damn right I got the tech to get your number, and location, & I got a decoder ring, phaser, jet pack, cloak of invisibility AND a copy of Harper's Weekly.

Fear me esé!

Yeah, but I got the most powerful wand and the one ring.

Pffttt they've been paying me in peanuts for years now. If any of these nuts has a nut allergy I can totes take them out, make it look like a right accident too, ya hear me.

[Burnaby49]

Putting aside for a moment that Rob is a complete and utter 5 star idiot, it looks like love has broken out between him and miss porkie pie peaceful warrior.

I love it went two freetards get together, it means that we have months of free entertainment to come. Bit of luck really now that tom and the crawford clan have gone by the by.

This is just sad. Woodworker, a relative newcomer to Quatloos, gets an official nod of recognition from Robswift but what does Bones have, the guy who related the news? Absolutely nothing.

Bones, you'll have no street creds until at least somebody, no matter how minor in the moron's hierarchy, acknowledges that you exist. Sorry, but it's a hard world out there in the land of Ceylon and Amanda.

[Skeleton]

Peter Of England
10 hrs ·

TO BE INTRODUCED AT AIRPORTS NEXT AND THEN IN THE BENEFITS QUEUE...not good news unless you're a Quatllooser!
http://eagnews.org/school-district-impl ... is-scanner…/
School district implements iris scanners on buses after student’s death
LANCASTER, Calif. – The Antelope Valley Schools Transportation Agency is using biometric iris scanners on special needs buses to prevent tragedies like the...
By EAGnews.org

Why would it make us happy?

More proof he is deluded and stupid and now also way behind the times. I have worked at Airports for the last 35 odd years and can tell him far from being introduced, they were introduced in the UK in 2004 and they were removed in 2012 because they were giving to many false readings because they were not easy to use and the cost of staffing them. I think a couple of places in Europe still have them, Schihpol Airport for one and their are trials on-going on a new eye scanner system. If he wants something to bleat about, try biometeric data collection from passengers at airports, that's far more invasive IMHO.

I may have to do a Jimmy and get an alter-ego and earn my 7th ban from his FB page

[longdog]

I have worked at Airports for the last 35 odd years and can tell him far from being introduced, they were introduced in the UK in 2004 and they were removed in 2012 because they were giving to many false readings because they were not easy to use and the cost of staffing them.

Some years ago I read an article on technology website The Register which basically said that eye scans were inherently unsuitable as mass identification systems because, unlike fingerprints, the eye can and does change significantly in a short period of time without the owner of the eyes even being aware... As any diabetic or person with glaucoma could tell you.

They are OK for discriminating between a few dozen or even a few hundred people but once you involve entire populations the system falls on it arse and the possibility of errors rises to a level where you might as well not bother... They can say "This might be Tom, Dick or Harriet but I can't say which" or "This isn't Tom" when it might be.

[hardcopy]

As you pay off the loan, the liability on the bank decreases, until it returns to zero. No extra money has been created.

(£20,000 for beer? Burnaby is a bit of a cheapskate.)

Creating debt does have the effect of creating money. If you put £20k in the bank, which has to happen before the bank can lend it, and the bank gives it to Burnaby for his beer money then, effectively, there is now £40k in the world. You're still woth £20k though not doing anything with it but Burnaby has £20 k to spend against the day he can either pay it back or use the services of a freetard to make it disappear by proving it's just a fraud. Which option do you think is going to help keep the world turning?

Somewhere along the line the freetards seem to think there's magic in a signature which the banks use to create money. They don't understand the requirement for cash to be deposited before it can be loaned and they always forget the other side of the coin, which is that when debt is repayed the effective increase in money supply is reduced. The money the banks created by lending is destroyed when it's paid back. If real banks could just create money out of thin air then it would soon be worth as much as a Re.

If you watch the Bank of England video " money creation in the modern economy" you will see that when you take out a loan, you are not being lent the money of prudent savers, the bank does actually "create" that loan out of thin air !...amazing, but true.
I think this is the foundation of a lot of the freeman thinking .
But of course that money enables you to buy say, a house, so it has to be related.
It's well worth a look, I don't know how to link, but its on YouTube and there is s Guardian piece on it too.

[hardcopy]

*related should read "repayed" in the above

[guilty]

If you put £20k in the bank, which has to happen before the bank can lend it, ...

No it doesn't. Banks don't need to match deposits with loans.

[guilty]

If you watch the Bank of England video " money creation in the modern economy" you will see that when you take out a loan, you are not being lent the money of prudent savers, the bank does actually "create" that loan out of thin air !...amazing, but true.

Yes it is true, in a very simple sense. But the bank has accepted a liability on their own account of, say, £20,000. This liability is matched by the loan agreement which shows that you owe the bank £20,000 (a liability on your account). As you pay off the loan, both sides of the liability reduce until the amount reaches zero.

[Losleones]

If you watch the Bank of England video " money creation in the modern economy" you will see that when you take out a loan, you are not being lent the money of prudent savers, the bank does actually "create" that loan out of thin air !...amazing, but true.
I think this is the foundation of a lot of the freeman thinking .
But of course that money enables you to buy say, a house, so it has to be related.
It's well worth a look, I don't know how to link, but its on YouTube and there is s Guardian piece on it too.

Do you mean this video amongst many others explaining part of money creation the sov/cit movement can't be bothered to research & wrap their pea brains around?

http://www.youtube.com/watch?v=CvRAqR2pAgw