Who creates money?
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Feel free to reply to any comment by clicking the "Reply" button.Got a few things wrong, Bible doesn't condemn loaning money or banking: Matthew 25:27, Deut: 23:20; but perhaps more important the Bible stresses not benefitting from your neighbor's need. It does instead in these instances insist on charity and generosity. Lending money with potential risk which will also potentially result in benefit to the lendee is another matter entirely.
Also in a depression labor doesn't lose its value but its value is devalued.
RCGibb
Level 7
Jan 1, 2020
0
"Plaintiff admitted that it, in combination with the Federal Reserve Bank of Minneapolis, which are for all practical purposes, because of there interlocking activity and practices, and both being Banking Institutions Incorporated under the Laws of the United States, are in the Law to be treated as one and the same Bank, did create the entire 14,000.00 in money or credit upon its own books by bookkeeping entry. That this was the Consideration used to support the Note dated May 8, 1964 and the Mortgage of the same date. The money and credit first came into existence when they created it. Mr. Morgan admitted that no United States Law or Statute existed which gave him the right to do this. A lawful consideration must exist and be tendered to support the Note. See Anheuser-Bush Brewing co. V. Emma Mason, 44 Minn. 318. The Jury found there was no lawful consideration and I agree. Only God can create something of value out of nothing."
STATE OF MINNESOTA
COUNTY OF SCOTT
First National Bank of Montgomery, Plaintiff
vs
Jerome Daly, Defendant.
December 9, 1968
Josf-Kelley
Level 8
Jan 1, 2020
0
"Something from nothing is still nothing"
But paper money and cyber currency is still easier to manage than trading goats for a house.
Obiwannosi
Level 8
Jan 1, 2020
1
It has no inherent value if it can be printed or typed into existence. It can be taken away or devalued at the drop of a hat.
Currency needs to be anchored to a valuable commodity. Gold, Oil, Coal .... etc.
@AlbertaPatriot the value comes from the labor worked in which it represents...
@AlbertaPatriot crypto currency eliminates vulnerabilities of manipulation from a 3rd party..it cannot be taxed nor can it gain interest.
@AlbertaPatriot someone is more likely to trick you into trading all your gold for a chunk of coal, if you are unaware what the current value of the 2 are, Crypto being backed by the labor you provided for it, keeps the worth from fluctuating. Gold is backed by first your personal time, and also its market value as a commodity on its own
@DesireNoDesires You’ve completely missed the point. Completely. In fact you’ve missed by “so much” that I don’t even think it’s worth pursuing the conversation.
Labor has only the value that the market assigns it. In a depression it has no value at all. Your theory is so full of holes I don’t even know where to start.
Goodbye.
@AlbertaPatriot no....gold has no value. labor offers instant rewards in a depression, you can offer me all the gold you want for some of the potatoes im growing, they may be full of holes like you perceive my theory of being..but ill most likely spare you 2 for your worthless gold just to avoid the sight of you starving to death..
or hey, maybe you can try eating that gold of yours in hopes youll shit out a diamond and then maybe afford acouple more tators for your useless rock, which ill be able to trade in for real money once the market recovers...you unfortunately won't be around any longer by that time though. Goodbye
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