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    Can a moderator kindly have this thread pinned? It's essential that it doesn't escape the attention of fellow members. This thread taps into the solution to most social and economic problems.
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    Because Jews
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    you can create money but you can't necessarily give it any value.
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    (Original post by Polymath0)
    In principle, what is the problem with the state creating and issuing money free of debt in order to finance public services and infrastructure projects? Why is it perceived as a natural state of affairs that the government has given a private banking cartel the privilege to create money and must borrow from the same banking cartel (through the issuance of gilts), when it can easily create money on its own without needing to go into debt?

    If a government can issue a bond, why can't it issue a bill?
    The obvious benefit is that most forms of taxation (income tax, council tax, etc.) can be abolished and there would be lower levels of private debt as a result of a greater amount of debt-free money circulating the economy.

    I want to receive factual objections. Thanks.
    Essentially the Government can't create money because Governments don't create anything. They govern. Money is a means to recognise the value of products or services. Creating money that doesn't reflect any economic activity is illusory and serves only to devalue money that already exists.
    Private banks create money by lending it to allow the same money to be used for several pieces of economic activity, multiplying its power to produce profit.
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    (Original post by SiminaM)
    ]Panic of 1819. Wiki it. Same principle: let's make money so what if the treasury doesn't cover it? Big deal it's only paper.

    Ummm.... NO! You can't just 'create' money...

    Edit: for ex: if a country has 200k worth of gold in its tresury than it cannot release more than 200k paper money. The money must have an actual value which is insured by the country because there is an equal worth of gold.
    1. So, what happens if it does release more than 200k paper money?

    2. What happens if the country finds a way to produce gold?
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    (Original post by Llamageddon)
    you can create money but you can't necessarily give it any value.
    Money is a creature of law, not a commodity from nature but an abstract social institution. Its essence is not tangible wealth in itself, but only a power to obtain wealth.

    The problem with the current money system is that it makes no distinction between money as simply a means of payment and debt-based credit. The two have been merged together which means that the entire means of payment is debt. The absurd outcome, thus, is that debt must be repaid with debt money.
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    (Original post by T.L)
    Essentially the Government can't create money because Governments don't create anything. They govern. Money is a means to recognise the value of products or services. Creating money that doesn't reflect any economic activity is illusory and serves only to devalue money that already exists.
    I don't understand why you claim that government is not involved in economic activity. The very purpose of governance is to set into motion the wheels of economic growth and development.

    Governments created and issued money for 2500 years, notably, in places like Ancient Rome and Greece.

    Private banks create money by lending it to allow the same money to be used for several pieces of economic activity, multiplying its power to produce profit.
    Private control of the national money supply produces profits for the private banking sector but does not benefit the public through seigniorage. Money is a public asset and should thus be designed to serve the public interest. To issue money as debt does not benefit the public since it's the very cause of inefficiency in the economy. Money issued debt-free would eliminate most forms of taxation, abolish public debt and dramatically reduce private debt accumulation.
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    Money is a basic foundation upon which every social transaction and development is built. It is that which facilitates a functional civilisation, so it's a no-brainer that it should be controlled by a public body to ensure that it works in the interests of the general public.
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    (Original post by Polymath0)
    Money is a creature of law, not a commodity from nature but an abstract social institution. Its essence is not tangible wealth in itself, but only a power to obtain wealth.

    The problem with the current money system is that it makes no distinction between money as simply a means of payment and debt-based credit. The two have been merged together which means that the entire means of payment is debt. The absurd outcome, thus, is that debt must be repaid with debt money.
    Polymath 95% on the people on cannot grasp what your talking about. They think the economy works the same way a household does.

    I know your trying to liberate them but most people here have other things on their mind like video games, x factor, big brother and that night out everyone is excited about.

    If it was the case that a economist could convince the masses we would be living in a utopia by now but we are not. The reason is because people are like sheep. You need to herd them.

    Let break it down to the most simple level of thought.

    Question.
    Private Banks make money by creating money out of thin air and charge interest on it. Should we nationalize this mechanic so Banks have to make money though other means so our countries currency worth isn't destroyed by speculation?

    Yes or no?

    ..........If people say no then you simply reply and say:

    Question.
    Should private Banks receive welfare payments?

    Yes or no?

    ...........If they say no then you call them a hypocrite because that is what they are. You then explain why they are hypocrites.

    Allowing private banks to print money is the biggest welfare of all. Private banks literally live off the interest of our nations labour while doing no work themselves. Private banks are the biggest scroungers on the planet.

    Usury plain and simple.
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    (Original post by illegaltobepoor)
    Polymath 95% on the people on cannot grasp what your talking about. They think the economy works the same way a household does.
    For those who believe that the economy is modelled on their household budget, I would want to know from them where they think the money with which they can purchase government IOUs actually originates from?

    How can one so easily ignore or not know that the money that is used to tax and borrow comes from somewhere? And if one does know then how can there be no intellectual curiosity to even know the mechanism by which it is issued?
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    Any of you out there?
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    (Original post by Polymath0)
    Any of you out there?
    Yes.
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    The government doesn't create wealth, it destroys it.
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    (Original post by Polymath0)
    For those who believe that the economy is modelled on their household budget, I would want to know from them where they think the money with which they can purchase government IOUs actually originates from?

    How can one so easily ignore or not know that the money that is used to tax and borrow comes from somewhere? And if one does know then how can there be no intellectual curiosity to even know the mechanism by which it is issued?
    Oh this is a good question. I know! I know!

    It comes from the magic money tree. Each bank has one. They take a few leaves from the magic money tree, roll it into a joint and then smoke it. They then enter random numbers into a computer and credit another bank with x number of funds. Magic!

    They then get some financial asset in return. The favourite is Government debt which is a big fat IOU!
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    (Original post by otester)
    The government doesn't create wealth, it destroys it.
    This sounds like an empty Libertarian soundbite. Are you so intellectually lazy that can't expand on this point with some detail? How does the government destroy wealth? Can you give an example? If you are referring to taxation, I am calling for the abolition of taxation with the debt-free sovereign money system. In which case I would advise you to pay attention.
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    Can we not just have a general "daft questions about the monetary system" thread where we can put all these threads started by people who have watched a youtube video on the money supply and think they're the only ones who see the conspiracy?
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    (Original post by Polymath0)
    Money, as a means of payment, must be decoupled from the debt-based credit system.
    That's just meaningless gibberish. You want money to be decoupled from money. You don't know what you're talking about.
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    (Original post by cole-slaw)
    Can we not just have a general "daft questions about the monetary system" thread where we can put all these threads started by people who have watched a youtube video on the money supply and think they're the only ones who see the conspiracy?
    It's not a conspiracy. It's just that people like yourself refuse to accept it when the Bank of England admits that the entire stock of money is controlled by private commercial banks.
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    this next level language is just whooaaaahhhh i probz understand like 4 words
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    (Original post by Polymath0)
    It's not a conspiracy. It's just that people like yourself refuse to accept it when the Bank of England admits that the entire stock of money is controlled by private commercial banks.
    Are you talking about M0, M1, M2 or M3? Do you even know the difference?
 
 
 
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