DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Let's talk about the fractitional reserve banking system

**11Woxsepmoomo** · 01-05-2012, 01:53 PM

The interest is not 'new, immortal' money. The interest can only be paid by robbing Peter to pay Paul. The interest paid back to the bankster comes out of the pool of money that has been loaned into existence. Therefore in this crazy game of musical chairs, if all the loans were paid back there would not be a dollar in existence and no money to pay the interest. There is no primordial money but gold and silver coinage.

Wrong answer again.

Interest is paid by spending (an action) using a thing called money that was earned via your labor. Money is spent over and over and it came from the original loan money.
The only place where money can be extinguished is at the bank that that holds the loan and erases the principal paid against the loan amount. The banker spends the interest portion back into the economy and once he spends it, it is out "there".

01-05-2012, 01:53 PM	#29
11Woxsepmoomo Join Date Oct 2005 Posts 504 Senior Member	The interest is not 'new, immortal' money. The interest can only be paid by robbing Peter to pay Paul. The interest paid back to the bankster comes out of the pool of money that has been loaned into existence. Therefore in this crazy game of musical chairs, if all the loans were paid back there would not be a dollar in existence and no money to pay the interest. There is no primordial money but gold and silver coinage. Wrong answer again. Interest is paid by spending (an action) using a thing called money that was earned via your labor. Money is spent over and over and it came from the original loan money. The only place where money can be extinguished is at the bank that that holds the loan and erases the principal paid against the loan amount. The banker spends the interest portion back into the economy and once he spends it, it is out "there".
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