Mungobrush wrote:Would you like to discuss the impact on capital adequacy reserves resulting from the implementation of the credit risk strategies defined by the Basel II accord?
I'll kick off with all money is created as usurious debt by private banks but the interest payable is never created. That means to repay in full, one has to have foreign earnings or more debt. Being as the whole world (bar 4 countries) are on the same system, foreign income is just another countries debt to pay.
A country can't operate without debt, both state and private, because there would be no money supply.
Banks create money out of thin air when someone takes out a loan, they do NOT lend any savers deposits.
When the loan is repaid, the bank deletes the money re-balancing the books and keeps the profit (the interest)
You are talking about economics used within the system of money forced on to us. I'm talking about the actual system.