News & Analysis
Bernanke's Banking Misdirection
Ben Bernanke tells EU to clean up banks ... Federal Reserve chairman Ben Bernanke has exhorted Europe's leaders to take further action to beef up banks and help southern Europe claw its way back to health, warning that the world financial system is not yet on a sound footing. Strains in global financial markets "continue to pose significant downside risks", said Bernanke. – UK Telegraph
Dominant Social Theme: You've got to get your banks in better shape, the way they are in the US.
Free-Market Analysis: This is surely a dominant social theme – that banks can be seen as healthy due to so-called stress tests. The whole idea is that the paper money reserves held by banks must be adequate to surmount any larger financial downturn.
This is part of a larger dominant social theme of the power elite, that central banking economies have banks or even money in the normal sense. In the modern world, money is anything but "normal."
But the elites that want to create world government want to insist on mimicking pre-modern monetary environments. They need to create the perception that the faux-money of central banking is every bit as valid as previous monetary systems.
They are driven to do this because central banks that they apparently control are their cash cows. Without the trillions thrown off by central banks, the elites would not have the funding and time to create the conditions for the looming "new world order."
And so the elites and their enablers such as Ben Bernanke resolutely pretend that the current system is analagous to previous "honest money" environments.
Nothing could be further from the truth. In fact, the exercise is useless for two reasons. First, the paper reserves held by large banks are not really "money" as previous generations understood it. They are simply central bank-issued pieces of paper with fancy printing, or more likely electronic digits.
Stress tests might have made sense when banks held fractional elements of gold and silver, but how do they make sense when central banks print paper or simply push a button and send electronic digits from one computer to another?
Second, even assuming that what banks hold is actually "money," the exercise is disingenuous. Fed chairman Ben Bernanke knows quite well that another profound market shock may not occur for a long time.
The crashes that signaled the beginning of what may be a current worldwide depression took place in 2008. In fact, it was at the end of 2007 and moving into 2008 that this worldwide business cycle experienced the second leg of a bull metals market and a bear securities/stock market.
The business cycle actually turned in 2001, when gold and silver finally began to move up after about a 20-year hiatus. The last big bull metals market ended in 1980 and began in 1970.
That market lasted a decade. But this one has been going on far longer because there is so much more economic distortion to unwind. Additionally, the top central bankers have flooded banks with "liquidity" that has prolonged this leg of the business cycle.
To prep banks for another crash is like prepping the financial system for another "event" after the Great Cash of 1929. Business cycles don't usually work that way. (Though, in fact, given how much liquidity Bernanke has tried to introduce into the system, the likelihood of another bubble and crash has grown considerably.)
We're on the downside of the bubble economy, or at least we should be. Free-market economics – and an analysis of the business cycle – shows us that modern central-bank economies inflate because central bankers inevitably print too much money.
Once all that money is circulating, it creates new demand as people feel wealthy and begin to spend and borrow injudiciously. After a while a boom is created and then, eventually, a bust.
A bust takes place once the market itself has figured out that there is too much economic activity and that much of the activity is misdirected. Usually markets crash and so-called "recessions" begin.
Bernanke, in his zeal to defend the system at the behest of the larger power elite, has kept the dysfunctional financial industry afloat. He may have basically aborted the business cycle for the moment. Certainly he may have prolonged this leg. It might have been over in a couple of years. Now it could stretch to 15 or more.
We've pointed out that he and his cronies may have printed up to US$50 trillion (no one knows how much) in additional liquid reserves. Actually, most of this money printing is simply the addition of electronic digits.
Much of this "money" actually hasn't begun to circulate yet because the demand isn't there. It is demand, not velocity, that creates the price inflation that can further destroy the value of "currency."
Bernanke of course, will explain none of this. He is merely interested in creating a public relations spectacle. He wants to make the point that he has done a good job in the US and that US banks are healthier than European ones. Here's some more from the article excerpted above:
"More needs to be done. Full resolution of the crisis will require a further strengthening of the European banking system," he told Congress, calling for a "significant expansion of financial backstops, or 'firewalls', to guard against contagion in sovereign debt markets."
Strains in global financial markets "continue to pose significant downside risks", he said but stopped short of criticising EU bank stress tests for banks. However, his comments reflect strong doubts in Washington over Europe's strategy.
The US stress tests are widely viewed as more rigorous, modelling the shock effects of a 5pc fall in GDP, a 52pc drop in equities, and a further fall of 21pc in house prices. By contrast, the EU tests have already been overtaken by events, with both economic contraction and unemployment in Spain certain to exceed the worst case scenario for 2012.
Europe's banks have a loan-to-deposit ratio of almost 1.3, we learn from the article, while the ratio for US banks is close to historical norms at 0.7. This means US banks are a good deal less leveraged.
But "leverage" means nothing under this sick system. Bernanke was willing to loan out tens of trillions around the world to ensure that the faux-economic system now in place didn't collapse, and this means the financial system itself is still gravely distorted.
US banks may be less leveraged, but there are still too many of them. Bernanke salvaged all the big ones. He salvaged the entire perverse system, which deserved to die a quick death.
The world is not just over-banked; it is swimming in banks, financial firms, financial products, gimmicky and complex financial schemes, etc. Why is this? Because central banking itself guarantees a perpetual financial bubble of sorts.
Until competition is reintroduced into the larger money system, this bubble will perpetuate itself. People think that the current climate is normal, but they've never experienced a normal money system.
In such a system financial activity would be far less than it is now. Wall Street would be shrunken as well. Money would likely be a depository of value and people might focus more on professional achievements than investment related ones.
Bernanke is nothing but a glorified PR man at this point, trying to keep all the balls in the air. He is running around the world now trying to convince the media and average people that the banking system has grown healthier under his watch. In fact, it is as swollen and unstable as ever.
Conclusion: Stress is not the problem and stress tests are not the solution. It's the entire system of monopoly fiat money that needs changing. Introduce monetary competition and do away with legal tender laws and you'll see some real stress introduced into the system. Stress that will provide the cleansing this financial bubble really needs.
Posted by Bischoff on 03/28/12 03:07 AM
" . . . the cost had remained the same forever? . . . that labour saving devices save no labour?"
Certain concepts are distinct, and they must be considered separately. I never ever said that labor saving devices as such do not save labor. By definition, they do. However, when it comes to producing a specfic amount of gold, they don't. Why... ???
In the aggregate, "labor saving devices" in the mining and refining of gold do not save on the work required to obtain a specific amount. Because of the chemical and physical characteristics of gold, the production of gold cannot be short cut through any kind of labor saving process. Heaven knows, the Alchemists have tried to do it for centuries. The annual gold production throughout the world gold is approx 3,000 tons. It has been that amount for the last eighty years. If there were new labor saving devices or processes during those eighty years, don't you think the annual output would have increased... ???
The only way to get at gold is to mine it, and to refine it. When you have a rich vein, you can dig gold out with a pick and a shovel. The work involved in terms of units in physics is measured in joules. It involves the work required to craft the pick and shovel, plus the work of picking and shoveling to obtain a specfic amount of gold.
Prospectors for gold have uncovered most rich veins. These have by now been exhausted. However, there are plenty of minute traces of gold contained in earth surface areas which can be collected by a surface mining process. This requires the movement of huge amounts of cubic feet of earth by dirt haulers and use of diggers, not to mention a leaching process plus the required restoration of the environment.
The work (in joules) required in the surface mining operation to get at the same amount of gold as when a pick and shovel is used, involves the manufacturing of the dirt haulers and the diggers, the hauling of the earth material, the leaching process, the restoration work, the work required to drill and refine the fuel needed to run the machinery, the maintenance of the machinery, plus the actual work of the operators of the equipment.
When your add up all that work (in terms of joules), the amount of joules expended to use the pick and shovel method when compared to using the earth hauler and leaching method to get at the same amount of gold, adds up to be about the same amount of work (same number of jewels).
That was my point, but as usual, you did not comprehend it. You claimed that I insisted that labor saving devices don't save labor. When looked upon in the aggregate, in the case of GOLD they DON'T. Otherwise, the annual production would have increased year over year.
Weebley, I have no animosity toward you, but I find your BS sometimes hard to take. If you ever took a stand and defended your wild statements and accusations, we could have a productive argument.
However, everytime you have to back up or defended your statements with facts and reason, the response is a blizzard of BS. How am I supposed to handle that... ???
I am going to take a break from answering you for a while. It's nothing personal. It just helps me keep a civil tongue. The last thing I want to do is be unkind to you, because I like you.
Posted by Agent Weebley on 03/27/12 11:21 PM
I spent all day stuck in a moment . . . what was I going to say in reply to you?
Remember the last time this happened? It was when you told me, in reference to the stable cost of digging up gold . . . the cost had remained the same forever? . . . that labour saving devices save no labour?
And do you also remember how I got myself out of that self induced pickle of an ultimatum that, by your reckoning, communication by letter or carrier pigeon must save no labour compared to the power of instant communication over the internet? You had to retract your statement for me to be free again?
Archimedes, and a massive swoop all over this site, amanfromMars' site and ARG MetaPhoria.
Give me a long enough lever, a fulcrum, and a place to put it, and I shall move the world!
People are the lever, and the internet is the place to put the fulcrum.
What is the fulcrum?
I answered you here: Click to view link
Posted by Bischoff on 03/27/12 01:01 AM
"Real Bills won't change anything. Debt free cash money created by ordinary people will definitely change things."
Weebley... ..Man, wake up. Real Bills are DEBT FREE cash money created by ordinary people. Don't you know anything... ???
Posted by Agent Weebley on 03/26/12 10:08 PM
With all due respect, I chose the "It's A Wonderful Life Bank Run Scene" to illustrate the pitfalls of fractional reserve banking, not to anthropomorphize that dog, Potter, as being a valid member of society.
I asked you who backstopped WW1. You gave me your truth, which is not say you state the real truth, since neither you nor I was around at that time. It was a rhetorical question; I was inferring that the US was the backstopper due to the timing of war being around 6 months after the 1913 Federal Reserve scam.
Speaking of backstoppers . . . Click to view link
On topic, let me direct you over to a bank that was finally brought down by Nick Leeson . . . Barings Bank. Here's a little story:
"In 1800, John retired and the company was reorganized as Francis Baring and Co. Francis' new partners were his eldest son Thomas (later to be Sir Thomas Baring, 2nd Baronet) and son-in-law Charles Wall. Then, in 1802, Barings and Hope were called on to facilitate the largest land purchase in history - the Louisiana Purchase. This was accomplished despite the fact that Britain was at war with France and the sale had the effect of financing Napoleon's war effort. Technically, the United States purchased Louisiana from Barings and Hope, not from Napoleon. After a $3 million down payment in gold, the remainder of the purchase was made in U.S. bonds, which Napoleon sold to Barings through Hope and Company of Amsterdam  at a discount of 87½ per $100. Francis' second son Alexander, working for Hope & Co., made the arrangements in Paris with François Barbé-Marbois, Director of the Public Treasury. Alexander then sailed to the United States and back to pick up the bonds and deliver them to France."
Click to view link
Hmm . . . every transaction was settled in gold before 1913, was it Ingo?
". . . the remainder of the purchase was made in U.S. bonds . . ."
That flies in the face of your Sun Tzu theory of wars and trade being settled in gold, doesn't it, Ingo?
The Louisiana Purchase was worth $15 million, so France sold it @ 20% down and the rest on time. They settled for cashing out @ 87.5% of face value with Hope & Co. (NL), leaving Hope & Co. with the paper.
All the while, Britain, where Barings was located, was financing their adversary.
Once the people of the world begin to realize that the people that run this world know no sovereign boundaries, and they finance their adversaries, as well as con (vince) their people into going to war, there's going to be . . .
So again I ask, who backstopped WW1, only 6 months after the US currency was hijacked? Keep in mind, we have had PermaWar ever since.
But there is a light at the end of the tunnel with respect to war. It happened today. Obama sounded conciliatory on Iran. What a coincidence, eh? You say it's all in my head? What about the UK riots?
Anyway, directed history is such a mess to figure out, isn't it? It's so hard to find out what the real truth is. Sounding so definite about things is like setting yourself up for a fall.
It's all a shell game with money. There's so much money flying around at the top and nothing down below for us. Real Bills won't change anything. Debt free cash money created by ordinary people will definitely change things.
And anyone who puts their new CashMoney into a NewBank will not let Potter loose with his magic fractional reserve wand to wave their CashMoney away to his buddies.
It's happening, man.
Click to view link
Posted by Bischoff on 03/26/12 07:08 PM
I am well familiar with Jimmy Stewart's Bank Run Scene in "It's a Wonderful Life". However, the "Savings and Loan" wasn't a bank. It was an Investment Trust, unlike Mr. Potter's bank.
The "Savings and Loan" had to maintain a certain liquidity based on its agreement with their savers. By falling below their liquidity requirement, they were forced to either sell out to Potter or to foreclose on those who were not current with their loan payment.
This is not a scenario which applied to bankruns before the 1913 FRA. Before the Civil War there were approx 900 banks in the entire country. By 1870, there were 29,000. The competition among the banks was fierce. Each bank with a charter could create redeemable currency against Real Bills and gold.
This intense competition pitted banks against banks by starting rumors about improper banking operations. People would line up to redeem their banks notes for gold. Most banks kept only a certain amount of gold for normal redemption requirements. When a bankrun was started, a bank quickly ran out of gold on hand to meet redemption. It then had to re-discount its Real Bills for gold, which under the circumstances normally meant that the bank lost all its profits.
To guard against these manufactured bankruns, banks would form associations with members pledging support to each other in fighting such ruinous bank runs started by competing banks.
The 1913 FRA collected all these reserve bank associations and formed from them twelve separate, private, regional reserve bank associations, collectively known as the Federal Reserve System. The Congress issued these reserve bank associations, aka, Reserve Banks, a franchise to create a national currency against Real Bills and gold held by their members. That was the way the 1913 FRA was set up. Then the NYFRB broke the law and started to market Treasury bonds to the other reserve banks. This created inflation of the redeemable FRNs and the redeemable currency went kaputt in 1933. In 1935, the Congress installed a central bank, aka Federal Reserve, which had little or nothing to do with the original FRS.
Jimmy Stewarts S&L plays during the 1940s, after the 1935 Banking Act created the "Fed" central bank. By then the Glass-Stegall Act had created S&Ls as separate inventment and savings institutions which could not make commercial loans, but merely invest the "savings" of their depositors.
Mr. Potter by that time was a banker who used his bank to funnel debt based currency, as directed by the Treasury Department, based on congressional earmarks, into the local economy. By having given up his gold reserves to the new "Fed", Mr. Potter and his bank received initial credit authorization from a Fed Agent to be to make loans. He had loaned out de-monetized currency to Jimmy Stewart's S&L. To get additional credit authorization to make loans, Mr. Potter needed the loan repayments from Jimmy Stewart's S&L to buy T-Bills to furnish the Fed Agent.
So much for "It's a Wonderful World".
As to WW I. The main instigator was Britain. The Bank of England locked up the huge gold finds from the Transvaal in their vaults. The reason was that it did not want gold to flow to Germany in Bills of Exchange transactions. Germany in the early 1900s had the most advanced chemical industry and had locked up all kinds of patents for die and chemical processes. People wanted to make money invested in the German chemical industry and bought their products. That made gold flow toward Germany. The English blocked this by bundling up the extra gold coming from South Africa.
Germany retaliated by paying their civil servants with irredeemable currency and by removing the created surplus gold reserves from the banks. France followed suit. Soon, trade agreements between businesses in these countries became difficult to performm on. To cover the stress created by this "Gold War", "hot war" was threatened. The assassination of Archduke Ferdinand finally was the spark to set off the confligration, we know as WW I.
John Maynard Keynes, professor at Cambridge in 1914, took bets that the 1914 War would not last beyond 6 month, since by then the available stock of gold reserves to pay for war materials would be exhausted. So much for Keynes.
That's enough of a history lesson today. I am sure the Rothschilds had their hands in some of all this during WW I and shortly thereafter. However, to make a big deal out of the Rothschild power today is to create a smoke screen for politicians and the real culprits. Anyone who makes a big deal out of the Rothschild acts like a useful idiot for the present ME.
Posted by Agent Weebley on 03/26/12 08:46 AM
I will expand upon what you said later. I am busy at work right now, but I just received a message from the past from a good friend. I need to show it to you right now.
The message is a clip from "It's A Wonderful Life - The Bank Run Scene." It shows the anatomy of a bank run without all the confusion of derivatives, CDSs, MBSs, QE1, 2, 3, and obviously . . . . PermaWar
War needs to be financed. War began 6 months after the 1913 US bankers meeting. Who backstopped the war, Ingo?
WAR IS PEACE
FREEDOM IS SLAVERY
IGNORANCE IS STRENGTH
7, 6, 5, 4, 3, 2, 1 . . .
Click to view link
Posted by Bischoff on 03/26/12 03:28 AM
"So you continue to go on and on about "Real Bills," which is just another shell game with you and your buddies supplying the gold and lending out the paper at interest all over again. Gimme a break, Ingo.
You claim to know something about money. Yet, with this statement you proved that you have no idea. NONE.
The 1913 FRA collected dozens and dozens of reserve banking associations which had organized throughout the country to support member banks in the case of a bank run. It brought all these different reserve bank associations into a national system of twelve private reserve banking associations which were franchised by the Congress to create a national currency against Real Bills and Gold only.
The NYFRB started in 1920 to violate the law by engaging in secondary market sales of Treasury paper. This inflated the redeemable currency. The average person had no reason to suspect foul play, because of the federal FRA legislation and the fact that the FRNs were redeemable. What the NYFRB did was clearly illegal, still the people trusted the federal government to oversee the FRn currency creation.
When the NYFRB's rogue acts let to the stock market bubble in 1929, people did become suspicious and demanded gold for their paper FRNs. That's when banks ran out of gold or simply refused to redeem FRNs.
Instead of putting crooked bankers in jail, the Congress passed an ex-post-facto amendment to the FRA and retroactively legalized the NYFRB's rogue OMOs. Then promptly nationalized the gold.
You don't know any of this, or how it impacted perfectly good legislation to implement a national currency. You never heard of the Banking Act of 1935 and what it did to the original FRA. Yet, you claim to know something about "Money".
You haven't got the first clue about banks creating redeemable currency under the Real Bills Doctrine, nor would you have any idea what effect secondary market sales (Open Market Operations) of Treasury paper have on a currency system.
I don't want to be harsh with you, but repeating this stupid stuff about Rothschilds shows that you are just blowing smoke. You don't understand money at all, unless of course you're going to tell me again that you were just putting me on...
My advise to you Weebly, stop repeating what is being peddled about the Rothschilds and the private cartel of banks running the Fed. 95% of it is pure bunk. I understand, that it's been peddled for eighty years, and generation upon generation have repeated it mindlessly.
"Repeating a lie long enough to make people believe it's the truth", is an old Goebbel's trick. Nevertheless, it is still a lie regardless how often it is repeated. A fellow who thinks himself smart ought not go around repeating such crap. He should ask for proof and then ask why is this lie being circulated?
If I asked you for proof of anything you stated, you couldn't come up with a single thing. Conspiracy theories are beautiful. People believe them without proof. When you cannot prove these theories, the inability to prove then becomes prima facie evidence that conspiracies exist. I ask you, how dumb can you get... ???
Weebly, I like to engage with you, but you make it hard. Though, heaven knows I have made the effort. You have to admit that.
Posted by Agent Weebley on 03/26/12 01:31 AM
You think I don't know anything about money? Not so.
The roaring 20s was the shell game I was talking about; you glossed it over as "the bankers debauching the currency," all while these smart "high school kids" and parents I would assume, partook in having a roaring time with credit based paper, not asset based gold.
The whole shell game rested on no-one ever redeeming their paper for gold . . . why would they weigh down their pockets with it?
A run on a bank isn't to cash in for gold, but to pull their paper out of the bank because the perception is that the bank has over extended credit and can't meet their paper obligations, if they were to liquidate.
So you continue to go on and on about "Real Bills," which is just another shell game with you and your buddies supplying the gold and lending out the paper at interest all over again.
Gimme a break, Ingo.
The way this is going to go down is that someone will create a new currency based on honesty and integrity, not debt. It will not be over printed, it won't be used to foment war and killing, it won't be used to twist minds into thinking right is wrong, up is down, war is peace, 1984 is 1948.
All it takes is a few people to begin a new money game not based on debt. A few of those people have already assembled, me (Steve Munster) being one of them, amafromMars, Agent Pete 8 and Agent Revolver being the other 3 people . . . all 4 of us with pure hearts.
4 people that treat everyone as equals in this world. Soon to be 7 people.
As we chat, The Rothchilds are pondering our guidance on what to do next. It is completely up to them if they want to help us without helping us.
Here is a link to ARG MetaPhoria. The comment above and a link here forms a BIND to my post called "7 People Might Just Start Helping You"
Click to view link
Posted by Bischoff on 03/25/12 10:20 PM
That's not how it works.
Any high school kid up until the 1930s would have been able to tell you that "irredeemable", "legal tender" paper currency is NOT money. If you tried to tell him so, he'd thought you were an idiot.
After the country came into economic upheaval, because of crooked bankers debauching the redeemable currency during the 1920s, the central bank interests got together with the politicians in 1935 and legalized open market operation which were illegal under the 1913 Federal Reserve Act.
There was an open letter, signed by 700 economic and business professors, urging FDR not to nationalize gold and make the FRN irredeemable. To no avail. The bankers won out.
The education establishment and academia were on hard times. Five years after they signed the open letter to FDR, not a single academic could be found to speak out against the New Deal legislation. Ever since 1935, the education establishment and academia have taken the money from the central banking crowd, and they have kept their mouth shut about real banking under the 1913 FRA and what had been done to that legislation with the 1935 Banking Act.
You, as everyone else have been taught that gold is meaningless in a monetary system, that there isn't enough gold to use as currency, that you can't eat gold, that gold is just a barbaric metal, and on and on... .
This BS has been spewed out at four generations, mostly generated by talking heads in the media. In the meantime academia teaches Keynes and Friedman. Nobody understand that crap, but people go around and praise the names of these so called "monetary theorists".
Today, an entire population is totally ignorant about redeemable currency and the gold standard. That's exactly what the entrenched political elite in the Congress and the central bankers want, to kill the institutional knowledge of the gold standard.
The central bank politicians survive, because they are the ones who get campaign funds from the bankers. Where do you think Romney's money comes from in the run for the presidency? Their previous boy Obama turned out to be a dud. Too ideological, not flexible enough. They know that they can do better with Romney than sticking with Obama.
So, the game continues. The politicians place the debt on the taxpayer so the Fed central bank can monetize it. Then the money is funneled through the banks to PACs supporting the "right" candidates. The media ends up with campaign funds for ads, and the central bank politicians get reelected.
What makes it all work so beautifully? It's the total and utter ignorance about MONEY on the part of the people.
-- Hosea 4:6 "My people are destroyed for lack of knowledge."
Posted by Agent Weebley on 03/25/12 07:46 PM
A con game with 3 small shells and a pea sized ball. The perp places the ball under a shell and shuffles the shells, while palming the pea.
The victim then guesses which shell has the ball. they lift 2 of them, lose, then the perp replaces the ball as he/she lifts the last shell.
Click to view link
If the power to print money is centralized, then only those in the centre know what is really going on.
A shell game.
Posted by Bischoff on 03/25/12 07:33 PM
A shell game... ??? I don't understand. What is a shell game... ???
Posted by Agent Weebley on 03/25/12 07:14 PM
That's all just a shell game, though, isn't it?
Posted by Bischoff on 03/25/12 06:02 PM
I was wrong by insisting that Congress under Section 8, Article I of the U.S. Constitution had the power to set and "change" the value of the USD at anytime they so desired.
There was a fight on between AJ and myself. AJ had read both volumes of "Pieces of Eight" by Edwin Vieira. AJ made the point that according to Dr. Vieira the power to "set" the value of the USD did not also mean the power to "change" it once set.
I was wrong. AJ convinced me that the constitutional convention left it to the Congress to set the value. It did so in the Coinage Act of 1791. It set the U.S. Dollar equal to the silver content in one (1) Spanish Pillar Dollar.
The point AJ made was that thereafter the Congress could not change the value without depriving citizens of purchasing power, i.e. future property. The framers would never have intended such interpretation. AJ convinced me by arguement that I was wrong, and I was happy to admit it.
Posted by Agent Weebley on 03/25/12 04:37 PM
I was just having some fun with you, Ingo. Sorry. I was just expanding on your "shrink" comment. I could not resist.
By the way, when have you been wrong?
Click to view link
Posted by Bischoff on 03/25/12 01:22 PM
"That could be why I am such a clear thinker these days?"
"These days" would be saying far too much. I'd say that you have "your moments".
As to my "intense reactions to contrary views", don't try to psycho analyze me. I don't have a fear of being wrong. As a matter of fact, I like to be proven wrong, but unless you can do it with proper reasoning and not with the kind of BS you try to hand me most of the time, I will answer you with my positions, if intensely.
Just because you spent a lot of time on the couch with Bob doesn't make you an authority to judge other for their motivation. Bob should have taught you how to "think" when engaging in argument, instead it seema he just helped you how to share your "feelings".
Posted by Agent Weebley on 03/24/12 11:38 PM
Wishing we had have delved deeper into our couch session about your predilection for the ?Californian? Natural Law religion, I could have helped you . . . but after many years "on the couch," so to speak with Bob, my shrink from the 70s, I learned to spot even deeper issues and nip them in the bud long before my "weekly" with Bob. That could be why I am such a clear thinker these days?
I think it may be possible, due to your sometimes intense reaction to contrary views on your mindset, that you have a strong fear of being wrong, stemming from fearing thinking outside the box . . . some call it agrophobia, not to be confused with agoraphobia, which is the fear of freedom.
It can solved easily by uttering just 2 words. You may want to write them down:
Click to view link
Posted by Bischoff on 03/24/12 10:56 PM
Thanks for the advise Weebly. Did your shrink put you up to it... ???
Posted by Agent Weebley on 03/24/12 10:29 PM
Are you ranting at/to yourself? If so, you should have done it offline, as it makes you look a little . . . no, I can't say it.
If you do this on main street, you may want to consider holding a cell phone up to your ear until it passes.
Posted by Bischoff on 03/24/12 05:21 PM
Evidently, you cannot read... .
I have described in detail why the contention, "... with fractional reserve, the bank creates the money from thin air and buys title to the property with it, that title to be transferred to the buyer after the mortgage is paid off." is nothing but a great big bunch of huey...
You are no smarter than Hoss...
You just repeat a bunch of crap for which you have no proof, whatsoever. Just because this stupidity about "fractional reserve credit balooning" has been repeated so often, it doesn't make true. All it does, is to show who ever utters such nonsense has absolutely no idea of what he's talking about.
By repeating this crap, you become just another useful idiot playing into the hands of the very people you denounce. Because you don't understand Fed reserve requirements and confuse it with fractional reserve lending, the people you denounce just sit back, rejoice in your stupidity, and laugh their asses off for having you give them cover.
They use your ignorance to shield themselves, because if they were ever officially challenged in doing what you alledge, they could prove you to be nothing but a fool.
However, if they can get five generations of idiots to repeat this crap, they'll have effectively killed all institutional memory, and they can get away with what they are really doing.
The real crime in this whole scheme is committed by the education establishment and by academia. They take the money from the central bankers to keep their mouth shut, and then they suage their consciences by preaching utopian crap like Marx and Lenin.
Go ahead, just keep on repeating this fractional reserve credit balooning story. The central bankers, both in the Congress and in the ME need a good laugh.
Posted by Agent Weebley on 03/24/12 09:16 AM
Right about now, people in the UK and elsewhere are beginnning to see there is a new system. ARG MetaPhoria, ur2die4, and The Daily Bell . . . the best places on Earth for humans to talk together and have some fun.
You said: "As awareness dawns, what/who do you imagine will lead/control/power the Future …. apart from thoughts freely shared to lead and control and power the Future."
Elementary, my Dear IBM Watson . . . we will . . . the sum total of our knowledge . . . in harmony . . . together . . . the 7 billion long security encryption key firmly locked away.
Did you notice the magical connection between the stolen Whitehouse ashtray in The Forbin Project . . . part 2, @ beginning with the Gordon Pinsett, the JKF look-alike @ 2:42 . . .
The Forbin Project, Part 2: Click to view link
And ARG MetaPhoria today: Click to view link
When Nixon looked in the mirror, he saw nothing . . . much like Arnold Schwarzenegger sees when he does the same . . . merely robots for the current system.
Thanks to whoever suggested this directed history video in the past couple of weeks here at The Daily Bell: Click to view link
Let the 4 winds blow.