Money as Debt...

[Taco John]

This is a great video for people who want to understand more about the economy in easy to understand terms.


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[Rohirrim]

That's a lot to absorb. I'd like to see some corroboration for this stuff. I'd also like some corroboration for the last quote in the film attributed to Rockefeller. That's damning.

[Taco John]

My FIL is a banker. I, too, am looking for corroboration of this. We had a pretty good discussion the other night about the fed, and from what he said then, I don't think this video is far off at all... But I want to ask him about some of the specifics, particularly where the creation of money at the bank level is concerned. That's disconcerting.

The thing that really gets me, and the video didn't touch on is the movement of the money, and how sales and income tax affects it. You figure a dollar gets paid to you at work, and you're getting about .65 cents of it after taxes. You buy a coke for 50 cents at the counter (as if you can get a coke for less than a buck these days), and depending on where you live, you're going to pay a nickle in taxes. So that's no less than 40% of that buck going to the government. But the person receiving that 50 cents has to claim it as income. So if the pop they sold for 50 cents cost them 15 cents to deliver to you, that's roughly 35 cents profit. Let's say they get to keep 20 cents of it... That's 55 cents of that original buck going to the government.

The government is sucking an UNGODLY amount of money from the economy.

[Rohirrim]

My FIL is a banker. I, too, am looking for corroboration of this. We had a pretty good discussion the other night about the fed, and from what he said then, I don't think this video is far off at all... But I want to ask him about some of the specifics, particularly where the creation of money at the bank level is concerned. That's disconcerting.

The thing that really gets me, and the video didn't touch on is the movement of the money, and how sales and income tax affects it. You figure a dollar gets paid to you at work, and you're getting about .65 cents of it after taxes. You buy a coke for 50 cents at the counter (as if you can get a coke for less than a buck these days), and depending on where you live, you're going to pay a nickle in taxes. So that's no less than 40% of that buck going to the government. But the person receiving that 50 cents has to claim it as income. So if the pop they sold for 50 cents cost them 15 cents to deliver to you, that's roughly 35 cents profit. Let's say they get to keep 20 cents of it... That's 55 cents of that original buck going to the government.

The government is sucking an UNGODLY amount of money from the economy.

And flushing massive chunks of it down the toilet called Iraq.

[Taco John]

Preaching to the chior, my friend... preaching to the choir.

[Bronco Bob]

So in his last few years of office Bill Clinton had managed to create a budget
surplus and was using part of it to pay off the national debt. Was this the
reason George W. Bush gave out the massive tax cuts and started the
Iraq war? To put the budget back into deficit and to continue to increase
the national debt? And was this the real reason Bill Clinton was impeached
in an attempt to remove him from office? And is this the real reason the right
is so panicked over the idea Hillary might become president?

[Stormontheplains]

Great Video Taco, I would like to see some more discussion so I can understand it a little more.