Random Politics & Religion #11

And if heaven forbid a disaster happens and all the customers including yourself were to go to the bank to withdraw all there money the bank would not be able too because it was stealing your money you entrusted to them to hold in its entirety and they breached the Trust by using it for there own.

there

Did you know your bank is loaning out over half of your bank account to new customers for loans and charging interest on your money without your permission?

And if heaven forbid a disaster happens and all the customers including yourself were to go to the bank to withdraw all there money the bank would not be able too because it was stealing your money you entrusted to them to hold in its entirety and they breached the Trust by using it for there own.

That's not some kind of conspiracy. Everyone who even has the faintest idea of how a bank works already realizes that. This may surprise you, but banks are businesses. They do this to make money.

And on this note, do you even know what the FDIC is?

That's still Dishonest banking under the current central banking system we use today and it is a Conspiracy your wrong about that. Or are you denying Banks have never been charged in federal courts with Conspiracy charges ? Because they have been.

When I take office there will be a Honest Banking system were you will rest assure know what money you entrusted to the bank will be there and will not be used for anything other then holding it for you.

When I take office there will be a Honest Banking system were you will rest assure know what money you entrusted to the bank will be there and will not be used for anything other then holding it for you.

The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation providing deposit insurance to depositors in US banks. The FDIC was created by the 1933 Banking Act after the Great Depression to restore trust in the American banking system; more than one-third of banks failed in the years before the FDIC's creation, and bank runs were common. The insurance limit was initially US$2,500 per ownership category. Since the passage of the Dodd–Frank Wall Street Reform and Consumer Protection Act in 2011, the FDIC insures deposits in member banks up to US$250,000 per ownership category.

The FDIC and its reserves are not funded by public funds; member banks' insurance dues are the FDIC's primary source of funding. The FDIC also has a US$100 billion line of credit with the United States Department of the Treasury. Only banks are insured by the FDIC; credit unions are insured up to the same insurance limit by the National Credit Union Administration, which is also a government agency.

As of August 27, 2014, the FDIC provided deposit insurance at 6,638 institutions. The FDIC also examines and supervises certain financial institutions for safety and soundness, performs certain consumer-protection functions, and manages receiverships of failed banks.

What world do you live in? Do you have any idea what "overhead costs" are? How are banks supposed to remain in business when you remove their best revenue source? What you're describing is basically a new central banking system that would have to be heavily subsidized by the American taxpayer. Screw that noise.

I should also point out that banks also need to pay their employees... maintain their buildings, and pay for the supplies and instruments of their job to exist.

Which is where fees and borrowing your money comes in. And why they repay what they borrow from you with interest.

There is such a thing as Interest free banking

as I will be ordering the Treasury issuing interest free currency backed by sound reserves.

There will be a transiting period as we end the federal reserve and implement the new sound Honest Banking system to each State.

Because money just magically appear on trees and/or at the end of rainbows. And his answer to supporting the infrastructure is to create more rainbows!

Rainbows~~~~

No more banking options under LG's new regime, guys. It's Bank of Honesty, or get the *** out of my country!

You can call it magic all you want but really it's created by pressing numbers on a keyboard to print paper backed by nothing that then gets interest tacked on it making it a debt based currency which realistically when fully paid off brings your total money supply to 0. Because it was literally created both digitally and also printed on paper backed by completely NOTHING.

What is 'M1'
M1 is a metric for the money supply of a country and includes physical money — both paper and coin — as well as checking accounts, demand deposits and negotiable order of withdrawal (NOW) accounts. The most liquid portions of the money supply are measured by M1 because it contains currency and assets that can be converted to cash quickly. "Near money" and "near, near money," which fall under M2 and M3, cannot be converted to currency as quickly.

BREAKING DOWN 'M1'
Using M1 as the definition of a country’s money supply references money as a medium of exchange, with demand deposits and checking accounts the most commonly used exchange mediums following the development of debit cards and ATMs. Of all of the components of the money supply, M1 is defined the most narrowly. It doesn’t include financial assets like savings accounts. It is the money supply metric most frequently utilized by economists to reference how much money is in circulation in a country.
Money Supply and M1 in the United States
Up until March 2006, the Federal Reserve published reports on three money aggregates: M1, M2 and M3. Since 2006, the Fed no longer publishes M3 data. M1 covers types of money commonly used for payment, which includes the most basic payment form, currency, which is also referred to as M0. Because M1 is so narrowly defined, very few components are classified as M1. The broader classification, M2, includes savings account deposits and various time deposits such as money market account deposits.

Specific Money Types Under M1
The largest component portion of a nation’s money supply under M1 is composed of Federal Reserve notes — otherwise known as bills or paper money _— and coins that are in circulation outside of the Federal Reserve Banks and the vaults of depository institutions. Traveler’s checks (of non-bank issuers), demand deposits and other checkable deposits (OCDs), including NOW accounts at depository institutions and credit union share draft accounts, are other major components of M1.

Money Supply and the U.S. Economy
For periods of time, measurement of the money supply indicated a close relationship between money supply and a number of economic variables such as the gross domestic product (GDP), inflation and price levels. Economists such as Milton Friedman argued in support of the theory that the money supply is intertwined with all of these variables. However, in the past several decades, the relationship between measurements of the money supply and other primary economic variables has been uncertain at best. Thus, the significance of the money supply acting as a guide for the conduct of fiscal policy in the United States has substantially lessened.

Source

No more banking options under LG's new regime, guys. It's Bank of Honesty, or get the *** out of my country!

Fiat money is a currency established as money by government regulation or law. The term derives from the Latin fiat ("let it become", "it will become") used in the sense of an order or decree. It differs from commodity money and representative money. Commodity money is created from a good, often a precious metal such as gold or silver, which has uses other than as a medium of exchange (such a good is called a commodity), while representative money simply represents a claim on such a good.

The first use of fiat money was recorded in China around 1000 AD. Since then, it has been used by various countries, concurrently with commodity currencies.

It's not a regime it's called a Constitutional Republic.

Also there will be banking options bloodrose and that's banks who operate the Honest Banking system that will be implemented nation wide. I doubt banks like Goldman Sachs or Wells Fargo or other mega banks will survive because the American people will no longer be bailing out these failed institutions. Don't read me wrong there will still be banking options lol we will still be able to do everything that we are doing today but we will be doing it Responsibly and most importantly Honestly.

just block and move on!

How? Under your regime you get rid of the bank's ability to stay in business.

Or are you going full tilt communist and have it state-run?

How? Under your regime you get rid of the bank's ability to stay in business.

Or are you going full tilt communist and have it state-run?

It's not communist letting failed banks or corporations die from wreckless practice that's what happens in free markets.

spesifically

suppost

Your all forgetting something very important especially in the US Constitution . Government spesifically congress is suppost to control money not private businesses like the federal reserve.

The reason we are in this mess financially today is because on Christmas day 1913 President Woodrow Wilson while most of the opposition to the 1912 banking bill voted it down were with there families used his authority as President to fill the vacant seats of congress with pro central banking advocates and passed this cancer that is killing our world.

It is private institutions like the Federal Reserve Central bank and all others like it that have accrued Possibly hundreds of Trillion of dollars in debt world wide combined through fraudulent dishonest private banking practice.

Ok, this conversation is done. He still thinks a government agency, aka the Federal Reserve, is a private business. Which is already controlled by several other government agencies, including Congress, as part of the system of checks and balances.