Posted on 10/06/2023 9:55:14 AM PDT by appeal2
So...'money' is backed by a 'claim on the promise of future labor'.
Those understanding this will then know how 'power' is derived.
'power' is a control over the future actions and/or labor of others.
'money' is 'power' - especially if the claim to the promise of future labor is direct (owning a US Treasury or owning a direct promissory note).
That's why the banksters are the most powerful.
Lesser 'power' (2nd order) would be things like 'currency' - which is backed by US Treasuries - which are backed by claims on the promise of future labor.
Always stay as close to being the 1st order owner of debt as possible.
“BTW - ‘debt’ is a ‘claim on the promise of future labor’.
So...’money’ is backed by a ‘claim on the promise of future labor’.”
Your reading comprehension is terrible. Money is the storage of prior labor.
Incorrect. Prior labor gets paid with 'money', which is 'claims on debt' a.k.a. 'claims on the promise of future labor'
I can tell you didn't read the professional paper written by the Bank of England that I linked to...
"Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money."
A loan is a liability to the borrower. The borrower signs a ‘promissory note’. It’s a claim on the promise of future labor of the borrower - or - ‘claims on the promise of future labor’ (a.k.a.) that the borrower may possess.
Oops...should have been written a.k.a ‘money’...
Go take a few finance and macroeconomics courses and then we’ll take. I am not here to educate you when you are so far off base.
“”Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money.””
You do not understand the context for that statement.
It is you who do not understand the concept of debt-based money.
It is you who have read the textbooks that have taught an incorrect theory of money - unlike what was clearly understood into the late 1800's.
It is you who believe everything one might learn at Wharton.
That's fine - because it is also you who can't see what's coming due to your incorrect hypothesis.
The paper I linked to is quite clear in its entirety. Money is not based on completed labor - if it was, it wouldn't get created as an entry on a ledger upon the signing of a promissory note.
Give it a couple of weeks and think it through. It will come to make sense to you - and open up a whole new understanding of global economics and what drives it...
I've worked with investment management analysts managing portfolios in the billions....
You?
Flashback 1992
Black Wednesday is known as the day that George Soros bet against the British pound, leading to one of the most catastrophic financial events in modern history
On September 16th 1992, George Soros made one of the most audacious trades in recent times when he bet an enormous sum of money against the British sterling. In the process, he pocketed over a billion dollars and brought the Bank of England to its knees. Making a billion dollars is by all means no small feat, but to destroy the monetary system of Great Britain in one single day is something else altogether.
“”””It’s mote like bonds only give a static interest while inflation is skyrocketing past that interest rate, and stock give better returns. People are dumping low interest bonds to get to higher return investments.””””
Have you ever bought a government, corporate, or municipal bond?
I am still waiting for an answer.
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