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NorrieC

Listed below are comments made by NorrieC between Thursday, 23rd October 2008 and Monday, 28th September 2009.

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Labour bets on bashing bankers 1:09pm on 28 Sep 2009 There's one very logical reason why Gordon and crew ably assisted by their complicit media are 'bashing' the bankers - Bread and Circuses. No more than a distractionary measure designed to take any focus off the catasrophic state of the UK's finances. The more you report on this Robert the more you help them achieve their aim ..... or is that the idea?

10. At 11:04am on 28 Sep 2009, myopicaardvark wrote:
"but all I want at the end of the year is a recognition of all the hard work I put into this place."

Absolutely, I could not agree more. It is utterly shameful to single out an innocent element of society and heap scorn vitriol upon them. It's the scourge of modern society. Now give me my money back and you can share all of your company's losses between every single hard working employee no matter where they are in your company's hierarchy and that'll put a stop to the unfair criticism. After all, if the banking sector were treated the same way as all other businesses you'd be unemployed right now.
Big economic ideas. 12:00pm on 27 Aug 2009 The general main stream media continually perpetrate this obfuscatory nonsense that "no-one saw this coming". The BBC are no better.

The monetary system we have is a debt-based, fiat, Fractional Reserve Banking system.
Debt-based
In this system all money in circulation (paper, coin (less than 5%) and digital (more than 95%) )exists as a result of someone's debt. i.e. with no debt, there would be no money in circulation.
Fiat
Fiat money is 'money' (and that can be represented by just about anything) which is decreed to represent value. It has no inherent value in itself.
Fractional Reserve Banking
This is the system operated by banks which creates money out of thin air when a new loan is instigated. When the principal amount of a loan is credited to your bank account it appears on planet earth at the instant the return key is pressed on the bankers keyboard. Prior to crediting your account the money did not exist anywhere on the planet. It was created out of thin air. When the loan is repaid both the principal and the interest is repaid. But the interest was never created. Therefore someone else's principal must be used to repay your interest. Mathematically this system results in an exponential growth of money in circulation caused by an exponential rise in debt. It is a physical inevitability due to the mathematical model pursued by the banks. Ultimately, anything which attempts to grow exponentially will, at some point, falter and collapse.

Since the method of money creation and circulation is well understood it is very simple to predict its inevitable collapse. That is, unless you have an invested interest in ignoring this flaw.

At least one school of economics fully understand the mathematical model used and predicted with ease and certainty the ultimate result. These are known as proponents of the Austrian school of economics. They have shouted long and hard about this but because their view is deeply unpopular and the solution would remove power from an extremely powerful group of people they are never heard, particularly in the MSM.

The most well known home for this economic viewpoint is here:
http://mises.org/

Regarding Fractional Reserve Banking, check out some instructional videos on youtube or elsewhere:
Money as Debt http://www.youtube.com/watch?v=lXb-LrVkuwM
The Money Masters http://www.youtube.com/watch?v=vVkFb26u9g8

And for a simple explanation why the exponential growth of anything is not possible indefinitely:
http://www.youtube.com/watch?v=F-QA2rkpBSY
http://www.youtube.com/watch?v=hM1x4RljmnE

It will be interesting to see if the censors allow this post to be published.
The £5,000bn bailout 2:15pm on 28 Oct 2008 14. At 09:59am on 28 Oct 2008, Andrew Knight wrote:

most bankers put in 100+ hours and despite large losses made by some others make large profits that keep pension funds ticking over.

Working very hard and diligently to administer a fraudulent and highly debt-expansionary system does not engender sympathy. Regardless of the personal sacrifices of individuals you still pertpetrated a Ponzi scheme and it is in the process of a systemic collapse.

57. At 11:19am on 28 Oct 2008, MERITOCRACY wrote:

Money is never lost. It just changes pockets. So where is this ?5000 billion?????

The money was only an illusion created by the Fractional Reserve Banking system. It never existed. It never reflected the value of any real world assets. When you lose it, you lose something you never had in the first place.
Sterling shunned 10:50am on 25 Oct 2008 #147

How predicatable was that?

I link to my own post which the moderators passed previously so they go back and delete it now.

How utterly pathetic.
Sterling shunned 10:12am on 25 Oct 2008 109. At 11:56pm on 24 Oct 2008, Boilerplated wrote:

#102

I think you will find that all links that contain .PDF type files are nuked due to the need for a browser plug-in. Nothing to do with wanting to censor anything.

OK, Lets say that is the reason. I have read and re-read the house rules. I cannot find anything to suggest a pdf is not acceptable.

And why did they accept it here:
http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/10/a_global_solution_needed.html#comment291
Sterling shunned 11:14pm on 24 Oct 2008 OK, I've posted the link to the Fed's instruction manual on how to operate a Fractional Reserve Banking System in about 6 different ways. I've spelled it, I've posted it as a link, with HTML without HTML, I've Tiny URL'd it and I've written it in long hand english.

The moderators really, really don't want a link to that document. What is their problem?

Now I know where that document is stored and what its called. So I've used all sorts of search criteria and Google will not pick it up.

Try here:
http://www.telegraph.co.uk/finance/comment/jeffrandall/3168301/Debris-from-the-City-and-Wall-Street-will-destroy-innocent-lives.html

Half way down the page.
Sterling shunned 9:11pm on 24 Oct 2008 I wonder if it will work......
Sterling shunned 9:10pm on 24 Oct 2008 Well Robert,

If you're stuck for something to write about you could always do the country a favour and explain how we got here. After all, as an employee of our Public Service Broadcaster. The phrase Public Service means serving the public...the public...you remember.... the ones which pay the license fee and therefore your salary and your gold plated pension.

I noticed you produced a nice little video for the great unwashed entitled "Crunch guide
Robert Peston explains what caused the crisis "and predictably missed out the only bit that really mattered.

Yes, you've guessed it, Debt-based, fiat, Fractional Reserve Banking. You know the one? The system that requires an exponential expansion of debt in order to sustain itself. Don't you think that this may have had something to do with...er....our exponential expansion of credit over the last 10 years?

I tried to help you out before by posting a link to the instruction manual on how to run a Fractional Reserve Banking System published by none other than the Federal Reserve. And where did they learn their tricks from....you've guessed it...the good old Bank of England. In fact nearly every country in the world operates this deathly system on the BofE's model and we taught them how to do it...how ironic.

Unfortunately, your moderators see fit to delete my link no matter how I split it up or disguise it. They say that the link is "Unsuitable" or "Broken". Well its definitely not broken so I'm left with "unsuitable". Now why would a link to a pdf which explains the inner working of the Fractional Reserve Banking system published by the Federal Reserve be "unsuitable".

I'll try describing the link in the next immediate post and we'll see how the moderators handle it.
Now there are runs on countries 1:41pm on 23 Oct 2008 "Besides, I need a strong pound as I need to go on holiday and would like a bigger home..

I rest my case."

Britain used to do irony really, really well. We were world famous for it. Seems a wasted art now.
Now there are runs on countries 1:24pm on 23 Oct 2008 4. At 10:46am on 23 Oct 2008, the-real-truth

"As long as individuals have food,"

Knowingly or not you have just hit the biggest single nail right on the head.

The food growing, processing and transportation system relies as much on credit as any other aspect of the economy. Don't bank on havnig enough food to eat.

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