The younger generations seem to have such unrealistic ideas and demands.
Kind of ironic since many of them don't move out of home now till they are into their 30's.

Well said ttbn. With the exception of a home mortgage, I see little need to go into debt unless it's to finance a business or similar. It seems cars, iphones, Tvs, smoking, raging, eating out, drinking, concerts etc all have priority over saving a dollar or two to invest in the future.

The whole world is floating on a sea of debt, most of which will never be repaid and is the reason why we are in such a parlous situation.

Ever wonder to whom we are in debt to and why. I think everyone would be advantaged to learn that because our goverments gave away the right to create moeny using the same method banks use, they dont real eyes that interest used to pay debt also has be borrowed somewhere along the line becuase where does it come from otherwise?

In the words of Lincolon: "The government should create issue and circulate all the currency and credit needed to satisfy the spending power of the government and the buying power of consumers..... The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government's greatest creative opportunity.

By the adoption of these principles, the long-felt want for a uniform medium will be satisfied. The taxpayers will be saved immense sums of interest, discounts and exchanges. The financing of all public enterprises, the maintenance of stable government and ordered progress, and the conduct of the Treasury will become matters of practical administration. The people can and will be furnished with a currency as safe as their own government.

Money will cease to be the master and become the servant of humanity. Democracy will rise superior to the money power."

Senate document 23, Page 91. 186

Referundemdrivensocienty,

The reserve bank printing money is sheer suicide. It was tried in Germany and Argentina, and shortly both currencies were worthless.

You have not discovered something that Nobel prize winning economists have missed.

Thought this might come up sooner or later.

Govts create only about 5-10 of all the money created, Govt usually bank notes and coins only.

Banks create 90-95% of all money in the economy.

There are no laws in any country that limit the amount of money banks can or cannot create. Think of their capability to create booms and busts that suits their plans here.

Banks can and do create as little or as much as they want.

In short, according to some commentators, yours and my signature actually, creates the money. Its the signature that kick off the money creation process. It cannot be kicked off without a signature.

Banks create accounts using the borrowers signature and make credit deposits into that account. When all the borrowers details are entered into the spreadsheet template, the last thing entered is the "loan amount." Until this number is written in, the account is not complete. When the number has finished being entered, the money is created out of thin air and the account is now established ready for the borrower, to access.

Its so mind numbingly simple that many people had a hard time accepting it.

If banks can do this so can govts and it has been done. How else do you think Australia got built between the end of WW2 and the mid 19070's? Using a tax base of about 10-15 million people?

Some reading material for you.

Chris Fields,(from NSW) Banks Lie
The Remarkable Model Of The Commonwealth Bank Of Australia

Video - Do Banks lend money they don't have?

I've had 73 years of living experience, so what's your fall back position?

My forward position is that I've had 63 years of experience, woopee doo.

My forward position is that I have made it my business to learn as much as I can about how the world really works.

I too like many everyone else was trained up the media to believe what the man on the TV says and have the views the media owners wanted me to have.

I was bred and raised by a diary farmer as lunatic right wing anti, anti, anti, commie hater.

After going out into the world I learned my parent given political education wasn't quite accurate and so after some years I voted for the other mob for a couple decades.

5 years after 911 I learned just evil some very powerful men are and what they will do to realise their dreams.

These days, I've learned the two party system is designed to box us into a choice the two parties give us. The evidence is the above and below the line voting.

The two main factions are simply two wings of the same bird of prey.

Our 'democracy' to use that term is slipping away from us we like all the other western nations, and we are slowly sliding in the big dark hole of tyranny.

As someone in history said, behind the curtain lurks someone more powerful than the king himself.