Just read your article. Nicely done. I wonder if you have seen the "debate" on youTube here https://www.youtube.com/watch?v=HLVHbY66ioA with Richard Werner who deals with the same fraud. He says the banks are in the business of purchasing securities from the public (a loan contract) - no deposits, no transfers just money from thin air. I am writing on the same subject over at Alternatives Exist. Keep em coming!
Yes, and I've followed Richard closely since 2014 when he published his breakthrough bank-experiment papers.
I like a lot of what he does, but he stretches the friendship when he insists on calling the proceeds of a bank's acceptance of promissory notes "bank credit", apparently believing banks can OWN that "credit" and therefore can "lend" it to us.
He should know better than others, that credit-balances are out-of-bounds to the bank. They can't OWN them, (as they are a bank liability) so they CAN'T lend them either.
I'd love to see your response to my three "deconstruction" articles, revealing fraudulent verbal entries in bank loan account statements.
Just read your article. Nicely done. I wonder if you have seen the "debate" on youTube here https://www.youtube.com/watch?v=HLVHbY66ioA with Richard Werner who deals with the same fraud. He says the banks are in the business of purchasing securities from the public (a loan contract) - no deposits, no transfers just money from thin air. I am writing on the same subject over at Alternatives Exist. Keep em coming!
I really enjoyed your article and the clear explanation……excellent!
Thanks Elizabeth. Do share If you can. There aren't nearly enough of us yet.
Welcome aboard, William.
Yes, and I've followed Richard closely since 2014 when he published his breakthrough bank-experiment papers.
I like a lot of what he does, but he stretches the friendship when he insists on calling the proceeds of a bank's acceptance of promissory notes "bank credit", apparently believing banks can OWN that "credit" and therefore can "lend" it to us.
He should know better than others, that credit-balances are out-of-bounds to the bank. They can't OWN them, (as they are a bank liability) so they CAN'T lend them either.
I'd love to see your response to my three "deconstruction" articles, revealing fraudulent verbal entries in bank loan account statements.