Quick response to "Money As Debt" on the Vlog

Posts: 32

al_9x wrote:

	CrossDressingNazi wrote:
	So now are you now basicly saying you were wrong and the movie was true!

Most sources deliberately (in my view) misrepresent / under-explain how the process works, a well designed tactic to later discredit those who object to the system.

Here is an example: Money As Debt

In this video, a bank that starts out with $1111.12 in cash reserves, immediately, in step 1, loans out $10000, which is not what actually happens.

I agree with this more than the statements I made myself in my original post.

Posts: 7

tardus wrote:

al_9x wrote:

	CrossDressingNazi wrote:
	So now are you now basicly saying you were wrong and the movie was true!

Most sources deliberately (in my view) misrepresent / under-explain how the process works, a well designed tactic to later discredit those who object to the system.

Here is an example: Money As Debt

In this video, a bank that starts out with $1111.12 in cash reserves, immediately, in step 1, loans out $10000, which is not what actually happens.

I agree with this more than the statements I made myself in my original post.

I spaced out a bit, when I made the quoted post, I had forgotten that this was the very video that prompted this thread.

You were quite right to object. This is a really good illustration of how disinfo works.

Even though their major thesis was right (monetary expansion does occur), they had you rejecting a true thesis by using faulty arguments. And those who didn't question, their heads are filled with more nonsense, which will discredit them when they dredge it up to try to convince others.

Those who follow the argument, reject the thesis, and those who accept it, can't defend it adequately.

Posts: 32

Perhaps madthumbs should put a disclaimer with his links to this video.

Posts: 8185

	tardus wrote:
	Perhaps madthumbs should put a disclaimer with his links to this video.

I quoted you in the comment on April 24th, 2007 which had a link, though you could have left the comment at the time. I just put a link in the main post. Is there anything else I can do? Confused

Posts: 32

Thanks thumbs, although I'd rather not have that quote attached to the entry. It is far from the best of what was settled on in this thread, in fact it is probably the worst and is just as mistaken as the video's explanation itself. A link to the discussion here is probably plenty on its own.

I had meant more that I wished it could be flagged as partial disinformation, or something to that effect.

Posts: 29

When the fed buy's bonds, it's creating money, how much do they create in a year? Do they exchange cash/currency/M1 for bonds?