Back to the Future
@Backontrack
15 October, 08:27
Fiat Money is a Scam
We are born, then declared dead lost at sea (cestui que act 1666) and issued a birth certificate. Each individual’s tax is estimated over their lifetime and placed into a Trust (i.e 5 million). The beneficiary is not me and you but them who trade us on the world markets and accrues themselves riches.
Fractional reserve lending, you deposit $1 banks loan out $9 more.
Banks create (loan) $1 but want $1.10 back (.10 is the interest which didn’t exist when the loan was created) they only created $1.
Perpetual Credit expansion is required to keep this Ponzi scheme up, if not the system collapses (great depression 1929)
Question
We borrow money and then deposit it (bank) and accrue interest.
Where does the interest (money) we receive come from?
The banks coffers, No.
It comes from the Trust created following our birth certificate was issued (5 million).
Only a very small percentage is issued to us, the remaining is kept to plunder the world.
We are born, then declared dead lost at sea (cestui que act 1666) and issued a birth certificate. Each individual’s tax is estimated over their lifetime and placed into a Trust (i.e 5 million). The beneficiary is not me and you but them who trade us on the world markets and accrues themselves riches.
Fractional reserve lending, you deposit $1 banks loan out $9 more.
Banks create (loan) $1 but want $1.10 back (.10 is the interest which didn’t exist when the loan was created) they only created $1.
Perpetual Credit expansion is required to keep this Ponzi scheme up, if not the system collapses (great depression 1929)
Question
We borrow money and then deposit it (bank) and accrue interest.
Where does the interest (money) we receive come from?
The banks coffers, No.
It comes from the Trust created following our birth certificate was issued (5 million).
Only a very small percentage is issued to us, the remaining is kept to plunder the world.
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I've read the fiat works a little differently than you explain. You deposit $100, bank can loan out $90. If doing that for all deposits and there were a run on the banks, the system would collapse. Interestingly, Trump moved the Fed Reserve into the US Treasury in March 2020. My understanding is that this was done so when the market collapses, the rats won't have the goods, the government will (US Treasury) which is we the people. Maybe I've misunderstood but that is what Patel Patriot and Fat Tails spoke of in a recent interview.
10:49 PM - Oct 18, 2021
In response Back to the Future to his Publication
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