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The Forum > General Discussion > Baby gloomers

Baby gloomers

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Ludwig ,unless we fix the banking system then the depression will not go away.The ability of private banks to create new money from nothing must be removed and given to Govt that represents the people.

We cannot fix a debt problem by creating more of it. see http://secretof oz.com/ and down load this really really entertaining and revealing documentary.Just released and has already won 2 awards.
Posted by Arjay, Tuesday, 14 September 2010 6:39:12 PM
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Thanks for introducing me to the secretofoz site, Arjay. It's a cracker.

The kicker is that it has nothing to do with Oz, as in Australia, but is a reference to that wacky - and fictitious - technicolour land occupied by crazy little people and wicked witches.

Classic.

The "theories" it presents are laughable.

So much so, that I'm a little suspicious the whole thing might be a spoof, and someone will suddenly jump out and say "look, he took it seriously, ha ha ha..."

I'll take the risk, though...

"Imagine in your own world. What if tomorrow you were told that all your mortgage debt and credit card debt was cancelled...<<

This, for those who would find it too embarrassing to visit the site, is the solution offered, that will fix "all world poverty, hunger, disease and misery."

I kid you not.

The most delightfully escapist part, though, is the analysis of what happens next.

"But what about the banks? They are already failing? Let them fail. Government can issue it’s own money and credit. We don’t need their hyper-expensive compounding interest system. Banks or banking won’t go away. Everyone will still need loans and checking accounts. Some one will step in and provide those services. You’ll still go down to your corner bank to deposit your check. Your bank will still be there."

Errr... Arjay? Are you there?

Could you explain to me why the author believes the banks "won't go away"?

The government has just wiped out their asset base.

Incidentally, this would also cause any savings (liabilities, remember) to disappear at the same time. Some folk might get a tad upset about that, don't you think?

As for anyone stepping in to "provide those services" - who would be so stupid? If the only source of money is the government (and we really, really trust those guys, don't we?), where does the concept of banking fit in?

I've said it before, Arjay, and I'll say it again.

Don't just regurgitate this stuff - read it, think about it, question it.

Above all, try to understand it.
Posted by Pericles, Wednesday, 15 September 2010 9:15:46 AM
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Dear Aime,

I've just come back to this thread and
read what you posted.

Gosh, you certainly managed to put a lump
in my throat - brought back memories of
how tough my parents had it - and yet
they, like so many others, made the most
of what they had and never complained.
I remember that dad was as honest as the day
is long, and he had a strong work ethic.
He also never bought anything unless
he could afford it. Credit was out of the question.

Thanks for reminding us all of what really is
important. Family life, good friends, and above
all, love and respect. A strong family upbringing
matters.
Posted by Foxy, Wednesday, 15 September 2010 7:35:27 PM
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Pericles Are you that afraid that you have now assumed the position of my shadow>Every time I write something you are there as a detractor.If it was all BS that I write, your constant shadow angst would be totally unnecessary.I seem to have you really worried.

Peter Schiff,Ron Paul's running companion for the Presidency plays a role.We are going to really promote this one since it is about time this criminal system came to an end.
Posted by Arjay, Wednesday, 15 September 2010 8:14:32 PM
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That's genuinely funny, Arjay.

>>Pericles Are you that afraid that you have now assumed the position of my shadow<<

Where on earth in your posts is there anything that anyone could possibly be afraid of?

>>Every time I write something you are there as a detractor<<

"Detractor" is so harsh. I prefer to think of myself as your online life coach.

It may seem to you that I am a detractor, but in fact I'm more of an educator.

For example, did you think through the "wipe out all debt" remedy on the secretofoz site, as I recommended? That's the educating part of me, you see, helping you understand that life is more than just neat-o slogans.

I know that you try hard not to listen, but who knows, one day...

Hey, I'm such a dreamer.

>>If it was all BS that I write, your constant shadow angst would be totally unnecessary.I seem to have you really worried.<<

But it isn't the "BS" - as you so aptly put it - that you write that causes angst, Arjay. It's the thought of how it might be slowly rotting your brain. I wouldn't wish that on any human being, so yes, I do worry about you.

>>Peter Schiff,Ron Paul's running companion for the Presidency plays a role.We are going to really promote this one since it is about time this criminal system came to an end.<<

The best of luck with that. I doubt that his ideas on the economy will take him very far. But in a country where one in five think President Obama is a Muslim, anything is possible.

Have a great day.
Posted by Pericles, Thursday, 16 September 2010 5:12:54 PM
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So Pericles you think that it is OK for the US Fed to create another $ trillion in their computers ,loan to the US tax payer as stimulus and call that ethical ecomonics.

I think that you brain has undergone serious degeneration.I told you 12 mths ago that simulus wouldn't work.You cannot solve debt problem by creating more of it.
Posted by Arjay, Friday, 17 September 2010 9:59:09 PM
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