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The Forum > General Discussion > A Better Monetary System.

A Better Monetary System.

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If you were to counterfeit $22 million [equal to our pop],it dilutes the wealth of all Australians by $1.00 per person.Our banking system is also able to conjure money into existence by what is called the fractional reserve system.In some cases banks can conjure into existence up to 9 times of the real money they have in reserves.Most of the money that is created comes in the form of debt when you take out a loan for a car,house or investment.

Since 1970 we have had an expodential growth of money as never seen in our previous history.The end result is what we are experiencing now.When banks conjure money into existence ,they are actually taking wealth from the rest of society and loaning it back to them.I think that a little inflation is good since the availability of finance encourages entrepreneurial and innnovative people to create new wealth.

Some say that Govt alone with their Reserve Banks should be soley reponsible for the generation of new money.This however gives Govt even more power over us.

Why not have a high tax on what is becoming kown as cyber money so that banks will then be encouraged to borrow from existing sources thus keeping inflation under control? Instead of increasing interest rates,Govts could soak up liquidity by increasing the tax on cyber money.We are then able to target the problem at it's source.What do you think?

See Paul Grignon's "Money as Debt" http://www.youtube.com/watch?v=vVkFb26u9g8
Posted by Arjay, Sunday, 17 May 2009 1:59:34 PM
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Maybe it would help if you defined "cyber money", Arjay.

In my daily life I reckon that I actually touch maybe one tenth of the money that I use - the rest is in electronic transactions, either at the store using EFTPOS, or paying bills online.

Is this "cyber money"?

Are you proposing that this money is taxed, and that we all revert to using bits of paper?

How will this be a benefit to us?

Perhaps you might also explain how Banks "conjure money into existence".

As far as I am aware, they are liable to the same penalties as anyone actually printing notes, if they "manufacture" money in cyberspace.

In short, I don't believe you have either described a real problem or offered a workable alternative to the present system.

But, as I have no axe to grind for the Banking system, I will be sure to keep an open mind on the topic.

So, a little bit of explanation might be in order.

Perhaps if you start where it all seems to go wobbly - that "conjuring" bit would appear to be at the heart of the problem, so maybe you could start there..
Posted by Pericles, Sunday, 17 May 2009 6:56:58 PM
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Pericles,cyber money has been recently invented by the IMF.They created $1.4 trillion to be disbursed around the planet and had only one fourteenth of this in gold reserves.It is created from nothing and not borrowed from existing institutions.

Cyber money,is money created in a computer that is in excess of the real production in the economy.It has nothing to do with teller machines.Each year every economy must produce new money to equal the increase in the GDP.The new inflationary money above the value of GDP is cyber money.The amount of money in the US economy has doubled in the last 8 months.Most of this money is cyber money.It has yet to trickle it's way through the system.When it does ,the US dollar will halve in value.The chinese won't be happy since they are owed $ 1 trillion by the US.The collapse of the US $ will see another downward spiral.

Ron Paul has bill HR 1207 that wants to audit the Fereral Reserve to see where this cyber money has gone.Congress has not the power to see where their own tax payers debt is being spent.They suspect that this tax payer debt cyber money is being used illegally by the Federal Reserve to buy up cheap assets instead of loaning it out to businesses for which it is intended.

Unbeknownst to most people,banks do create money from nothing,but this very secret practise needs to be regulated.My question is ;should we give this power to Govt only,or should we just have proper regulation on the banks so we evolve a fairer system?
Posted by Arjay, Sunday, 17 May 2009 7:23:25 PM
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Crikey Arjay, that’s a hell of concept to grasp, for an ordinary dumbarse like me.

All I can say is; that I wouldn’t be surprised if what you express is entirely true. Afterall, nothing could be as hopelessly mad as the monetary/economic system that we’ve been living with for decades, that is based on GDP as the primary indicator or success/prosperity and the utterly absurd notion that the size of the annual economic turnover has to be forever larger, to the tune of about 3% a year, with no end to this continuous expansionism ever even thought of, let alone planned for.

GDP includes all sorts of things that should appear as negatives on the economic/financial slate, and continuous-growth economics flies totally in the face of us achieving a sustainable society and planet.

So yes, the creation of ethereal cyber money and the dilution of the value of real money as a result, with presumably the lower socioeconomic sections of society suffering much more so than their upper-class counterparts, really doesn’t engender much reaction from me, other than to raise one eyebrow!

/ :>\
Posted by Ludwig, Sunday, 17 May 2009 9:57:50 PM
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arjay quote<<Unbeknownst to most people,banks do create money from nothing,but this very secret practise/needs to be regulated.>>its a bit simplistic..to say banks..create..anything

12 banks control the fed,..and the fed orders the worlds govts mint's to print all the money..its bankers need..[what the fed does do is control credit/currency exchange values..via its banks creating/trading in finate currency[infinate credit],..that it recieves intrest..[ursury]on

the problem is that the fed/creates the debt..but not the ursury/to repay the debt..[so there is a real need to issue debt that will default,..so that created..'money'..can repay..the ursury..thus we have this ongoing boom/bust,.inflation/deflation cycle

the big problem is the inflation cycle..[needed to bankrupt those chosen to die for the monetory system..[so to speak]..so we get the middle-classes going into poverty..[for cents in the dollar,[+]losing their houses,buisness,livelyhood and honour

how it's..solved..is to make all repayments repayment/of the origonal debt[ie..intrest-free/loans][no debt could be wiped out,..and in time all debt gets repaid]

bankers have grown so huge/the rothchilds own one third all the real assets and control the gold-reserves,shares,industry etc[these day-traders,..arnt trading in real/shares..nor real/gold..[everyday 3 times the ammount of real-gold mined..is traded..in gold-certificates[promises for..'future'..delivery,BUT..actual delivery is getting systematiccly complicated as more want the real stuff

[ditto for shares[the real-shares are held by an imf fund..[25 trillion worth]..BUT the fund owes 23 and a half trillion to rothchild...lol..so the wrath-child family is reaping it in..simply via intrest/ursury..[while holding the real-shaRES AS SECURITY..[LOL]

THATS WHY WE HAVE SECURITIES FRAUDS..[people want them to invest your cash/super..into some form of securities]..but its all a ponzie-sceme[the shares stay where they are,..you/me/we can only own a..'promise'..[along with the hundreds of thousands..also holding promises..lol

should BANKS/feds..<<give this power to Govt..,or should we just have proper regulation on the banks/..evolve a fairer system?>>both..why should banks be allowed to issue too much credit..[and collect intrest

[when its us signing the loan/mortgauge documents..[our signature thats the real security,...bundled together and made into bundled securities..[then underwritten by insurance companies..[we the people underwrite]
Posted by one under god, Sunday, 17 May 2009 10:41:19 PM
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Come now Ludwig.You are not that stupid.I am talking about inflationary money.In 1970 you could buy a beer in a pub for 25c.Now it is more like $5.00.Where did all that new inflationary money come from?Individuals are not allowed to make their own money.It comes from the banking system and our own RBA.Some of it is borrowed but most is just simply created via debt.

View the movie Money As Debt and then you will fully understand what I'm talking about.All of our assets have become over inflated and our Govts and the financial systems are in denial.They are trying to stop a market correction by creating more money thus more debt.

Let the bad assets be liquidated and then the real productive economy will get us back on track.We are making the same mistakes as we did in the 1930's depression.It was prolonged for years because of the exact same policies.
Posted by Arjay, Sunday, 17 May 2009 11:08:12 PM
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