All central banks excluding those in Russia and China and 7 other countries are privately owned Aidan. Your statement is an utter falsehood.

Why do all our Govt Depts have ABNs ? This whole country has been illegally corporatized and is not longer in control of we the people. Our RBA takes instructions via APRA and the Bank of International Settlements another private bank makes the rules for APRA to function.

Here are a couple of thoughts for you, Arjay.

>>As I said previously, we have inflation created as debt which far outstrips growth, then the debt can never be repaid.<<

Since money itself has absolutely no value until it is used, what would you do with the money, if the debt were repaid?

Also, where would we be today, if the money hadn't been borrowed in the first place?

Don't spend too much time on the answers though, the effort might cause your brain to explode.

Pericles you are trying to confuse people. Money only has worth when people do something for it. Banks are non productive parasites sucking off real productivity.

Since 1970 the banking system has destroyed our $1 by inflation created as debt by 2000%. Our $1 is will only buy 1/20 th of what it bought in 1970. The real rate of inflation is 7% pa and average growth is 3%.

As James Rickards says $1 of debt will be soon negative in terms of growth. This system is a total and utter failure for the people and in reality a legalised counterfeiting scam for bankers.

I have obviously confused you, Arjay.

>>Pericles you are trying to confuse people. Money only has worth when people do something for it.<<

Money is money, whether you have worked for it or not. The money that young Packer spent in his early days came from his father, but it was still good enough to buy the odd Maserati or two. And that money went into circulation, some of it undoubtedly ending up with some guy buying potato chips from a corner store.

Until it moves, money has no value. If you store it underground instead of buying food, you will starve to death.

So, let's try those questions again.

Let's assume that the debts were all repaid, tomorrow. What would happen to the money?

And let's imagine that the money was not lent in the first place. What would have been the impact on our economy?

Lift your eyes out of conspiracy la-la-land for a moment, and try to fathom out a little bit about how money actually works.

>>Banks are non productive parasites sucking off real productivity.<<

Do you actually know what a bank does? It really doesn't sound like it. For instance, the headline for this thread when you started it was "Banks deposits no longer secure after G 20 meeting". This already demonstrated that you were unaware of one simple reality: bank deposits were not secure before the G20 meeting either.

What on earth made you think they were?

Arjay, you currently believe, based only on the claims of nutty conspiracy websites, that all central banks excluding those in Russia and China and 7 other countries are privately owned.

What would it take to convince you otherwise?

Oh I'm a nutty conspirator. As George Carlin once said, as if a few extremely wealthy and powerful people would not get together and have a plan for their mutual benefit ?

Neither of you(Aidan and Clueless) have addressed inflation being created as debt by our private banksters. The growth is also created as debt to equal increases in productivity.

OK you two bimbos try and explain how it is good to have human productivity and inflationary money being expressed as debt by private banks. You can't and won't. Your emperor has no clothes. Perhaps Tony Abbott can find the answer in his suppository of wisdom.