The Truth about Money

Your totally irrelevant posts go here - keep it clean with no flaming and absolutely no politics (Club or otherwise). Posts contravening this WILL be removed without warning.

Moderator: Moderators

Forum rules
This forum may be used for your posts that don't fit elsewhere but please keep it clean, calm and respectful. As elsewhere, politics of any sort (including Club politics) are not permitted.
If you want to meet with others for your personal ride then please use the 'Anyone want to meet me?' forum.
If you want to invite the BM Riders Club to other club events please do it through official channels by contacting the Club Secretary.
Any posts contravening these guidelines may be removed without warning.
User avatar
Galactic Greyhound
Moderator/Club Member
Posts: 7819
Joined: Sat Aug 28, 2010 11:26 pm
Country of Residence: Scotland
Location: Dumfries

The Truth about Money

Postby Galactic Greyhound » Wed Aug 23, 2017 7:06 pm

Buying a new bike?

Wondering whether to pay cash or take out a loan?

Can you afford it?

Does it matter?

Here is a fascinating YouTube video on the truth about money and why the Banks were not allowed to go bankrupt in the financial crisis:

https://youtu.be/23DNe0cJhcU
Ced.

R1100RT 1996.
Sent by Boson Quantum Transmission from the Starship 'Galahad'.
http://www.researchgate.net/publication ... ing_bosons" onclick="window.open(this.href);return false; - It works!

User avatar
windmill john
Forum User
Posts: 2700
Joined: Fri Feb 18, 2011 9:58 am
Country of Residence: England
Location: Somewhere in Southern England. bip bip bip, loose lips sinks ships

Re: The Truth about Money

Postby windmill john » Thu Aug 24, 2017 6:45 pm

Thanks Ced, I'm now going to Beachy Head!
http://www.kittos.co.uk
Best roads: 623 Burgos to Santander. A back road to Metz; can't remember which!
Schorsch 1978-80 R65 - bit of a Shetland pony; frisky and naughty.
Friedrich 1993 R80RT - a Percheron, but can still mix it with the rest.

User avatar
Galactic Greyhound
Moderator/Club Member
Posts: 7819
Joined: Sat Aug 28, 2010 11:26 pm
Country of Residence: Scotland
Location: Dumfries

Re: The Truth about Money

Postby Galactic Greyhound » Thu Aug 24, 2017 6:54 pm

Thanks Ced, I'm now going to Beachy Head!

On Schorsch?

That'll be spectacular! :lol:
Ced.

R1100RT 1996.
Sent by Boson Quantum Transmission from the Starship 'Galahad'.
http://www.researchgate.net/publication ... ing_bosons" onclick="window.open(this.href);return false; - It works!

User avatar
windmill john
Forum User
Posts: 2700
Joined: Fri Feb 18, 2011 9:58 am
Country of Residence: England
Location: Somewhere in Southern England. bip bip bip, loose lips sinks ships

Re: The Truth about Money

Postby windmill john » Thu Aug 24, 2017 9:15 pm

I can't remember the film, possibly it was Margin Call, but very depressing film version along the same line.
http://www.kittos.co.uk
Best roads: 623 Burgos to Santander. A back road to Metz; can't remember which!
Schorsch 1978-80 R65 - bit of a Shetland pony; frisky and naughty.
Friedrich 1993 R80RT - a Percheron, but can still mix it with the rest.

User avatar
Galactic Greyhound
Moderator/Club Member
Posts: 7819
Joined: Sat Aug 28, 2010 11:26 pm
Country of Residence: Scotland
Location: Dumfries

Re: The Truth about Money

Postby Galactic Greyhound » Thu Aug 24, 2017 11:08 pm

I think you are right- here's a Trailer:

https://www.youtube.com/watch?v=uj4QrAcwVi0
Ced.

R1100RT 1996.
Sent by Boson Quantum Transmission from the Starship 'Galahad'.
http://www.researchgate.net/publication ... ing_bosons" onclick="window.open(this.href);return false; - It works!

User avatar
windmill john
Forum User
Posts: 2700
Joined: Fri Feb 18, 2011 9:58 am
Country of Residence: England
Location: Somewhere in Southern England. bip bip bip, loose lips sinks ships

Re: The Truth about Money

Postby windmill john » Fri Aug 25, 2017 7:39 am

Yes that's the one. I think I saw another very similar too.

They say ignorance is bliss!

I usually have to hear something three times for it to sink in. I'm not the sharpest tool in the box and only got the overview of your posted video. I just try to be decent and get on with my lot.
http://www.kittos.co.uk
Best roads: 623 Burgos to Santander. A back road to Metz; can't remember which!
Schorsch 1978-80 R65 - bit of a Shetland pony; frisky and naughty.
Friedrich 1993 R80RT - a Percheron, but can still mix it with the rest.

User avatar
keiththeoutfitter1
Club Member 12
Posts: 605
Joined: Mon Feb 18, 2013 11:17 pm
Country of Residence: United Kingdom
Location: East Yorkshire

Re: The Truth about Money

Postby keiththeoutfitter1 » Fri Aug 25, 2017 7:49 am

Interesting video. Watched it late last night and need to watch it again but I didn't understand the bit about fractional reserve banking, The bank takes your deposit, retains (in this example) ten percent, and lends the rest out. That's fine, but doesn't the example then assume that the borrower then deposits that money in another bank which retains ten percent and lends out the balance and so on, thus conjuring money out of thin air?
Surely, the borrower borrows the money to buy something, not to put it in the bank.
As I said, I need to watch it again to see if I missed something.
Keith
R1200RT
K1100RS + EZS Rally Sidecar
Kawasaki Versys 650

Teetwothousand
Forum User
Posts: 249
Joined: Sun Jan 31, 2016 9:16 pm
Country of Residence: Nr Thirsk, UK

Re: The Truth about Money

Postby Teetwothousand » Fri Aug 25, 2017 9:00 am

Interesting video. Watched it late last night and need to watch it again but I didn't understand the bit about fractional reserve banking, The bank takes your deposit, retains (in this example) ten percent, and lends the rest out. That's fine, but doesn't the example then assume that the borrower then deposits that money in another bank which retains ten percent and lends out the balance and so on, thus conjuring money out of thin air?
Surely, the borrower borrows the money to buy something, not to put it in the bank.
As I said, I need to watch it again to see if I missed something.
Keith
As I understand it, As soon as they lend it out it is 'credited' to a new account which then means they can then lend 90% of that ...repeat. In reality the money flows around and eventually someone puts some in the bank/gets paid wages etc and it is the reserve relates to the total 'money' in the accounts at any one time.

My concern is that at some point 'they' could decide to scratch all of the numbers and start again, or, more likely, know 50% off all the digits and half start again.

Too big to fail also implies too small to succeed - I think if pain ever comes it will be 'for the many and not the few' 😄

Crowd funding messes it up - we should do more of it
F650 GS (800twin)

User avatar
Galactic Greyhound
Moderator/Club Member
Posts: 7819
Joined: Sat Aug 28, 2010 11:26 pm
Country of Residence: Scotland
Location: Dumfries

Re: The Truth about Money

Postby Galactic Greyhound » Fri Aug 25, 2017 9:41 am

Yes, I think the same as you on the Fractional Reserve Banking Keith.

When you get a loan, it is often transferred into your own Bank Account before you use it - hence 90% of that loan is now also available to your Bank for lending out to others who first deposit it in their own Bank so cascading the process ad infinitum.

It is a Ponsi Scheme akin to Pyramid Selling as the Banks are also taking Interest from each loan made.

I need to watch the Video a few more times myself to fully get my head around it but it seems to me that Money has no inherent value and relies solely on the tacit agreement of Citizens of the country to accept it in return for their labour.

The amount of money which can be raised by the Government is tied to the Gross Domestic Product (GDP) of that country.
If the Government prints more money than the monetary value of goods produced by the country, then the value of that currency in relation to other countries currency is reduced.

If that country did NOT interact in the International Monetary Fund then the country could print as much money as it liked without affecting the value of its currency because it is accepted at that monetary value by its citizens.

The International Monetary Fund (IMF) is a banking system designed to control the economy of countries by drawing them into debt and using this debt to obtain development and transit (e.g. airspace) rights from that country to the benefit of the Fund's Controllers.

It is also used to prevent the development of individual countries within a Continent into 'blocs' which could challenge the monetary and industrial position of the Controllers.

A prime example of this are the African countries where it was deemed undesirable that a scheme proposed by one of the African nations to pipe water from the vast acquifers under the Sahara desert to ALL of the under-developed African nations and for them to form their OWN African Monetary Fund would be detrimental to the Funding Controllers as it would permit these Afican countries to form a 'bloc' and develop outwith the control of the IMF.

This would create a challenging ascendency to the detriment of the aims and purpose of the IMF.

The solution enacted was to create instability in one and more of these African nations to prevent the formation of a 'bloc' on a divide and rule basis.

The results of this policy can be seen around the southern and eastern shores of the Mediteranean today.

This also created an opportunity for a rising economic power to invest heavily on a long-term basis on favourable finance terms in providing a transport and development infrastucture for the Central and Eastern African nations which they were unable to carry out to their own requirements under the IMF.

The outcome of this high investment in these countries remains to be seen as the resultant economic upturn will take some years and decades to mature.

What is more important however is the swing of influence and control over these nations that this investment strategy will enact.

Africa is a very rich Continent whose assets have been disrupted and looted by colonial masters in the past.
Corruption by each nation's ruling regime was fed and encouraged as a means of control and preventing alignment of these nations.

Should the African economy finally be given the opportunity of self-development then a new dominant economic power between Asia and the West might arise where the Slaves finally throw off their yokes and become the Masters.

Reference:
https://libyaagainstsuperpowermedia.org ... tary-fund/
Ced.

R1100RT 1996.
Sent by Boson Quantum Transmission from the Starship 'Galahad'.
http://www.researchgate.net/publication ... ing_bosons" onclick="window.open(this.href);return false; - It works!


Return to “General Off Topic Chat”

Who is online

Users browsing this forum: No registered users and 1 guest