*How can the Global Reserve Banks be the most powerful institutions on the planet when they produce nothing of tangible worth?*

Arjay, yes we know that you hate Reserve Banks, but I remind you that
their profits, including those of the Fed, are paid to the treasury
of their respective countries. So taxpayers are the ultimate winners.

Reserve Banks do indeed play a vital role in our economies. How long
would you last, without a functioning banking service? One week or
two weeks?

Frankly if you could not pay me for the food that I produce, I would
have to let you starve :)

Nobody apart from Zimbabwe has degraded their currency like
Zimbabwe, so as it happens, they now use US $ !

Arjay, you need to pack away the emotions and keep a little bit
of reality in this debate. Otherwise the rest of the world will
simply pass you by.

Re the Global Res Banks.Part of their profits are paid to their respective Govts Yabby.Both our $ and the US $ have lost 98% of their value since 1913.To achieve this you have to increase the money supply above GDP and pop growth by more than 25 times.Who created all this inflationary money? We as individuals cannot.Govt coins about 10%, but mostly banks create it through debt via loans.Their real profits exist in the creation of inflation via the fractional reserve banking system.

If Yabby counterfeits $22 million equal to the pop of Aust,this dilutes the currency and is akin to taking one $ from every person in the country.It is called inflation, of which the banks and our Govts steal from the public via stealth taxes.

Just think about the reality.Banks on average create 25% of counterfeit money per annum,that depreciates our currency via coumpounding inflation rate of just 3.4%.

You continue to amaze me, Arjay, with your comprehensive inability to listen, or to learn.

You still insist on regurgitating the same, meaningless mantras with which you have populated many, many previous posts.

>>Both our $ and the US $ have lost 98% of their value since 1913... you have to increase the money supply above GDP and pop growth by more than 25 times... Banks on average create 25% of counterfeit money per annum<<

I, and others, have tried patiently to educate you, and gently explain that none of these three assertions actually stands a moment's scrutiny.

Unfortunately, that entire last post of yours can be used as positive and irrefutable proof that you understand nothing about economics.

Neither economic theory, nor economic facts.

And unless and until you begin to research and learn about the realities involved, you are bound to write nothing but rubbish on the topic.

Sad, but true.

Oops Arjay, I note that Bernanke has just been annointed Time's
"Man of the Year".

There goes all hope for the revolution :)

That won't come as a surprise to Arjay, Yabby.

>>Bernanke has just been annointed Time's "Man of the Year".<<

Time magazine also believes that the WTC collapse was caused by planes.

What else can you expect?

Bernanke man of the year! In whose eyes? The very criminals who caused the GFC.Obama gets the peace prize for expanding the war front.Obama is just a puppet of the banks and Wall St just like Bernanke.

The GFC is just beginning to unravel.The collapse of the US $ will demonstrate Bernanke's foibles.You cannot double the money supply via counterfeiting and expect anything else.

Real unemployment in the USA is more like 17%.This is the real indicator of economic health since it reflects business activity and confidence.The price of shares or bank profits running on cyber money means nothing.The bailouts just went into propping up Bernanke's mates.

HR 1207 is fully passed and now 80% of Americans want to audit the Fed.12 mnths ago the US people thought the Fed was the Govt.

The US people will soon need a new currency to create the stability needed to stop hyper-inflation.Let the Fed keep their monopoly money and let them suffer the consequences of their fraudulent actions.