sparky1

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Posts by sparky1

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  72

  Did you know Banks create money out of thin air?

  by TerryWalstrom in

  1. jw
  2. friends

  banks create money “out of thin air.”empirical studies have been undertaken to prove this thesis and this is the conclusion:.

  in the 5,000 year history of banking, banks have been thought of as “deposit taking institutions which lend money”.. 1. what is the legal reality?

  banks don’t take deposits and don’t lend money.the public is under this false impression on purpose because the language of banks is not legal language.. so--what is a “deposit”?a deposit is not actually a deposit.

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  sparky1

  1. Three individuals are involved in this scenario. The creator/seller of the widget. The purchaser of the widget. The bank lending money on the widget. No money was created 'out of thin air' in this transaction. The purchaser desired to own the widget but did not have the funds. He borrowed the money from a bank and gave the money to the person who created/sold the widget. The creator/seller of the widget re-deposited the money in the bank. (Simplified version of a transaction for sake of discussion). The intrinsic value is still in the widget and if the purchaser does not repay the bank, said widget is repossessed and sold. Simple circular transaction. Of course, the individuals 'promise to pay' comes into play but is in no way a 'creation of money out of thin air.'

  2. Credit card usage is not creating money out of thin air either. It is a promissory transaction between the borrower and the card authorizing institution. It is purely a 'promissory note' simplified according to the agreement between the institution and the credit card holder. Again, if the cardholder reneges on his payments, the institution is free to take him to court and attach his assets. It may be a poor lending practice but it is hardly creating 'money out of thin air'. In regards to the lending practices pre 2008 for home mortgages, that too was not 'creating money out of thin air'. That was out and out fraud. Stealing money on paper and hoping not to get caught. Banks bundled too many 'junk' mortgages into derivatives and sold them at a higher 'rating'. It was a case of 'let the buyer beware'; not creating money 'out of thin air'.

  3. The Wells Fargo scenario has nothing to do with this at all. Wells Fargo created false accounts for people that already had money in their banking system. What they did was move money from a depositors regular account into the new false, unauthorized account. In many cases, the original accounts became overdrawn and triggered fees that went into Wells Fargo's bottom line. No money 'was created out of thin air'. Just stolen from the depositors through fraud and added to the banks balance sheet.

  The Mark Twain story is cute. But it has no bearing on reality. If the principle of the story wanted to, he could have just deposited the money and begun to conduct business with his newfound wealth.
  
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  72

  Did you know Banks create money out of thin air?

  by TerryWalstrom in

  1. jw
  2. friends

  banks create money “out of thin air.”empirical studies have been undertaken to prove this thesis and this is the conclusion:.

  in the 5,000 year history of banking, banks have been thought of as “deposit taking institutions which lend money”.. 1. what is the legal reality?

  banks don’t take deposits and don’t lend money.the public is under this false impression on purpose because the language of banks is not legal language.. so--what is a “deposit”?a deposit is not actually a deposit.

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  sparky1

  In your scenario, a bank is not creating money 'out of thin air'. The lender is extending and expanding credit for a tangible asset (the widget) according to the current market value of the widget. The monetary value is still in the widget and if the person that was extended credit does not pay for it, the bank can repossess the widget, sell it for cash and recoup their initial outlay of credit. All assets have an intrinsic monetary value and that is what banks loan against.
  
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  19

  Serious Problems Between Elders

  by ZindagiNaMilegiDobaara in

  1. jw
  2. experiences

  ever encountered or eyewitnessed problems escalating, arguements and rows between elders right at the kh anyone?.

  one such experience was just before the meeting was about to start,we heard raised voices from the second room between two elders.

  a minute later two other elders went into the room and we could all hear that they were trying to cool the situation down with whatever was going on in there.

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  sparky1

  Your comments are spot on, Giordano. Everything that you said was (supposedly) why Nathan Knorr was dead set against the Elder arrangement.
  
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  72

  Did you know Banks create money out of thin air?

  by TerryWalstrom in

  1. jw
  2. friends

  banks create money “out of thin air.”empirical studies have been undertaken to prove this thesis and this is the conclusion:.

  in the 5,000 year history of banking, banks have been thought of as “deposit taking institutions which lend money”.. 1. what is the legal reality?

  banks don’t take deposits and don’t lend money.the public is under this false impression on purpose because the language of banks is not legal language.. so--what is a “deposit”?a deposit is not actually a deposit.

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  sparky1

  JeffT:

  
  
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  22

  Do you know which Watchtower publication this picture came from?

  by McLovin in

  1. watchtower
  2. bible

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  sparky1

  

  Will someone with the IQ of a bunch of bananas combined be allowed to answer your question?
  
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  21

  Have you seen these drawings against medical procedures?

  by ILoveTTATT2 in

  1. jw
  2. friends

  these come from the golden age of june 8, 1932:.

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  sparky1

  RubaDub
  
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  34

  If Angels in the Bible are of neuter gender ? Then why are they always depicted as males by description and name ? And never a female ?

  by smiddy3 in

  1. watchtower
  2. bible

  in all of the art i`ve seen in christendom, angels always have the form of a male, and in the bible those that are named always have a male name such as michael ,gabriel , etc, .

  nowhere in the art world that i have seen do angels have the female form, and in the bible they don`t have female names.. so if the angels are neither male or female why then are they depicted as males with male names ?and not female also ?.

  the watchtower illustrators also follow this line .when they illustrate an angel it is always in the form of a male and never a female form.. the anointed who make up the 144000 comprise of male and females right ?

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  sparky1

  At least Satan is an 'equal opportunity' god. He has both male and female demons(angels) in his employ. The female demons even had a 'cool' name: SUCCUBUS.
  

  
  
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  21

  giving to jehovah part this week

  by road to nowhere in

  1. watchtower
  2. beliefs

  i love it!!

  the brother started by saying we know our donations don't go to the local brothers -- you don't see us wearing gold rings, fancy jewelry (watches?

  ) wonder if he notices who does?.

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  sparky1

  Hi, ZindagiNaMilegiDobaara. Welcome to the forum. I hope to read more postings from you here.
  
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  21

  giving to jehovah part this week

  by road to nowhere in

  1. watchtower
  2. beliefs

  i love it!!

  the brother started by saying we know our donations don't go to the local brothers -- you don't see us wearing gold rings, fancy jewelry (watches?

  ) wonder if he notices who does?.

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  sparky1

  "Yet, it seems the coffers of the WBTS can never be satisfied." - truth_b_known

  "The leeches have two daughters that cry, "Give! Give!" " -Proverbs 30:15 RNWT

  Apparently, if we apply the old Freddy Franz 'types and antitypes', the Watchtower Society was prefigured in the Old Testament .

  
  
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  32

  Should I be with someone who's had lots of pervious partners?

  by Jxvi in

  1. social
  2. relationships

  thanks for reading (i'm sorry this is a little bit of a sensitive topic, though i'll try to be gentle.).

  a little back story.

  i have been working so hard to build my faith this year, and i am finally at the point where i am beginning to trust god and i want to build an unbreakable relationship with him.

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  sparky1

  From a practical standpoint: If she has had multiple partners and has been promiscuous, I wouldn't have any sexual contact with her until I knew that she was free of any sexually transmitted diseases. Better safe than sorry.