Econ 101- Banking
Anyone who has studied economics has had to study banking and how banks "create money"
t all started a long time ago, and, not surprisingly, with the Jews.
This was not becuse the Jews were intrinsically good with money. This was not some fucking genetic trait. This was because they were prohibited from entering the 3 major sectors of power in medieval Europe: The Army, The Church, and The Aristocracy and landowning. So they became artisans, particularly silversmiths and goldsmiths. (Which is why so many Red Sea Pedestrians are called names like Silverberg or Goldberg).
Now because they had to keep so many valuable items made of gold and silver, they had to build secure places to keep their clients' valuables (like safes, which we now know as BANKS).
Pretty soon, they were the only people in town who had secure places to keep things, so the rich started keeping ALL their valubles with the Jews. (The first bank deposits)
Now the Jews noticed that they had all this valuble stuff just sitting there, nd most of the time it was just lying idle, not doing anything. So they started lending it out and charging interest on it. (Bank Loans)
At first they loaned out the gold and silver itself, but after a while they realized that they didn't actually have to lend the gold itself, they could just write a "promissary note", or a letter of credit (A Check) and the borrower could go to his vendor, like say a shipbuilder, and give him the letter of credit for the work that was to be done.
And the Jews also noticed that they could actually lend out a lot more than the gold they actually had in deposit. For instance, they found tht it was quite safe to have say $100 in gold on deposit, and lend up to $500 in letters of credit. They had actually created money! And this worked quite well as long as PEOPLE BELIEVED THAT THEIR GOLD WAS SAFE WITH THE JEWS (known today as confidence)
So what has happened to day is that todays bankers who used to adhere to safe practices like lending only say 10 to 1 ratio of their assets, suddenly started lending 15-1, 30-1 and in the case of the worst ones, 100-1!!!!!!!!
So when these assets started "going bad" people lost confidence tht the bankers were good for their money. And that, incredibly simplified, is where we are today.
The fucking criminals (for that, Dearest Readers, is what they are!)on Wall Street, who thought that they were the "Masters of the Universe", came to the conclusion that normal rules of finance and economics didn't apply to them. This would be alright if it were their own money they were gambling with. But it wasn't, it was other people's, including peoples savings, their retirements and their 401Ks.
Now i have no idea whether this bill that might or not get passed is a good one. I haven't seen it.
But if we don't do something, We The People will be the ones who have to pay. Industry will grind to a halt, payrolls wont be met, and unemployment will skyrocket, which will cause less economic activity to occur, more jobs will be lost, and more businesses will close, which will cause less economic ativity, more job losses... you get the picture.
The Wall Street thugs, however, will be OK... they hve already milked the economic system now for about $1 TRILLION, and they have their little hideaways in Dubai and the Bahamas already picked out.
Either way, we are probably fucked. The best we can probably do is to make sure this NEVER EVER fucking happens again!
I hope you don't mind my little Econ 101 lesson here. I know that we are all concerned that something has gone very wrong, and it's not OUR fault. But, i think, if we can all get better understanding of how our economies work, and start taking a bit more interest, we will be able to hold those who are supposed to be protecting us to a fucking higher standard than we have been up to now.
Please forgivem my little lecture here. This is sooo important for all of us, you know.
hugs and a sweet little kiss everyone.
t all started a long time ago, and, not surprisingly, with the Jews.
This was not becuse the Jews were intrinsically good with money. This was not some fucking genetic trait. This was because they were prohibited from entering the 3 major sectors of power in medieval Europe: The Army, The Church, and The Aristocracy and landowning. So they became artisans, particularly silversmiths and goldsmiths. (Which is why so many Red Sea Pedestrians are called names like Silverberg or Goldberg).
Now because they had to keep so many valuable items made of gold and silver, they had to build secure places to keep their clients' valuables (like safes, which we now know as BANKS).
Pretty soon, they were the only people in town who had secure places to keep things, so the rich started keeping ALL their valubles with the Jews. (The first bank deposits)
Now the Jews noticed that they had all this valuble stuff just sitting there, nd most of the time it was just lying idle, not doing anything. So they started lending it out and charging interest on it. (Bank Loans)
At first they loaned out the gold and silver itself, but after a while they realized that they didn't actually have to lend the gold itself, they could just write a "promissary note", or a letter of credit (A Check) and the borrower could go to his vendor, like say a shipbuilder, and give him the letter of credit for the work that was to be done.
And the Jews also noticed that they could actually lend out a lot more than the gold they actually had in deposit. For instance, they found tht it was quite safe to have say $100 in gold on deposit, and lend up to $500 in letters of credit. They had actually created money! And this worked quite well as long as PEOPLE BELIEVED THAT THEIR GOLD WAS SAFE WITH THE JEWS (known today as confidence)
So what has happened to day is that todays bankers who used to adhere to safe practices like lending only say 10 to 1 ratio of their assets, suddenly started lending 15-1, 30-1 and in the case of the worst ones, 100-1!!!!!!!!
So when these assets started "going bad" people lost confidence tht the bankers were good for their money. And that, incredibly simplified, is where we are today.
The fucking criminals (for that, Dearest Readers, is what they are!)on Wall Street, who thought that they were the "Masters of the Universe", came to the conclusion that normal rules of finance and economics didn't apply to them. This would be alright if it were their own money they were gambling with. But it wasn't, it was other people's, including peoples savings, their retirements and their 401Ks.
Now i have no idea whether this bill that might or not get passed is a good one. I haven't seen it.
But if we don't do something, We The People will be the ones who have to pay. Industry will grind to a halt, payrolls wont be met, and unemployment will skyrocket, which will cause less economic activity to occur, more jobs will be lost, and more businesses will close, which will cause less economic ativity, more job losses... you get the picture.
The Wall Street thugs, however, will be OK... they hve already milked the economic system now for about $1 TRILLION, and they have their little hideaways in Dubai and the Bahamas already picked out.
Either way, we are probably fucked. The best we can probably do is to make sure this NEVER EVER fucking happens again!
I hope you don't mind my little Econ 101 lesson here. I know that we are all concerned that something has gone very wrong, and it's not OUR fault. But, i think, if we can all get better understanding of how our economies work, and start taking a bit more interest, we will be able to hold those who are supposed to be protecting us to a fucking higher standard than we have been up to now.
Please forgivem my little lecture here. This is sooo important for all of us, you know.
hugs and a sweet little kiss everyone.