Posted on 04/08/2024 5:11:56 PM PDT by Twotone
“Banking is slightly illegal,” says world-renowned economist Richard Werner, who is leading the charge against CBDCs. In this episode of "The Glenn Beck Podcast," Richard teaches Glenn that “banks don’t take deposits, and banks don’t lend money.” That begs the question, “What do banks actually do?” This discussion may make you realize that all you think you know about money is wrong. That’s not all we don’t know about the economy. We also have no clue which banks make up the Federal Reserve, who created Bitcoin, or the real relationship between inflation and interest rates. But we do know that COVID-19 revealed a global concentration of power and probably paved the way for the tool dictators of old could have only dreamt of: CBDC. Before the appeal of Universal Basic Income lures you into implanting a chip under your skin, it may be time to consider whether or not America should follow the China-inspired path to one central bank. Perhaps, it’s time to consider what Glenn says about the central planners of our economy: “You’re in Vegas, and the house always wins.”
Thanks for posting it; I just read an excerpt of some of his stuff over on Vox Day’s site a couple of days ago.
*PING* to bitt & ransomnote for a worthwhile topic should you have the time.
Thanks!
BKMK for tomorrow.
So if they have a 5% reserve requirement, every dollar deposited can create a total money supply of $20 through lending the money out, getting that money from its destination and repeating. If you borrow to buy a house, that money will end up in the seller's account, where it can be lent again, let's say for some cars. The car dealer then is paid and deposits the money in the bank, where it can again be lent, etc. etc. etc. The limitation is the reserve requirement and the velocity of money, or how quickly the lent money will be spent and deposited back in the banking system.
Not exactly new info so far.
Or....the banks lend cash for college loans and the loan gets paid ba.....oops.
Banks steal.
Every institution steals.
Every single one.
After seeing banks pop up on every corner over the last 10 years, everyone knew it was a scam, nobody knew how. Until now
Went into a beach of my bank and they had 4 people on the clock for every one customer. I was thinking about how many dollars had to be printed for the three just sitting there. I still had to wait in line.
And banks don't print or actually create money.
It is the process of taking in deposits and lending it out to others who need it that "multiplies" the money in circulation.
A slightly wacky (but still helpful) way of looking at it is to imagine that a small town had an auto rental business and, instead of buying cars, many people in this small town just rent a car when they need one.
It seems like everyone has a car because they have access to one when they need it. But, in the entire town, there are really only a handful of cars. The car rental agency seems to "multiply" the number of cars in use.
That's kind of like the way banks multiply the money in circulation. They essentially "rent" it out.
A very simplistic way of looking at it: One person makes a deposit and the bank lends it to someone else who spends it to buy, say, a car. When the car dealer receives the money from the customer/buyer, he takes the money and deposits it right back in the bank...which then lends it to someone new.
banks are the Feds secret police.
He’s not talking about the banks of 2000 years ago.
Watch the video or read the guy’s stuff.
“CENTRAL Banking is slightly illegal,” says world-renowned economist Richard Werner, who is leading the charge against CBDCs. In this episode of "The Glenn Beck Podcast," Richard teaches Glenn that “CENTRAL banks don’t take deposits, and CENTRAL banks don’t lend money.”
Banks in the time of Jesus didn’t do rehypothecation.
Or a billion other things.
For all we know, a farmer pledging his property might have given a banker the right to use part of his land during the term of a loan.
They didn’t have ATMs either...or give away toasters.;-)
Is rehypothecation discussed in the video linked above?
Watch it and find out.
Troll.
You aren’t a banker, are you? Just desperate to prove your vast knowledge.
No, you’re a troll.
My first response was to suggest you find out what the claims were, firsthand.
I’d read an article by the guy a couple of days ago, on another website, so I knew the points he was making, from his article.
You then posted something completely irrelevant. Which was in contradiction to what he said, and dismissed him up front based on inaccurate characterizations.
There’s still time for you to gain firsthand knowledge of what he said.
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