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The purported economist (Richard Werner) in the video below is contradicting himself every which way to justify the lie banks create & loan money, & in all insanity this buffoon is suggesting this money is created out of nothing or thin air, which could not be any further from the truth.
Its all quite simple if you stick to the verifiable facts without contradicting or compromising those facts.
Lets be very clear banks do not create money, NOT EVER, not just because banks or mere publishers give up no consideration of commensurable value but because we the people are creating this money all along instead by giving up the only consideration of commensurable value, so what can those of us who are sound mind logically conclude from this simple observation of verifiable fact?
1) Banks are logically not creating money because the bank is neither risking or giving the consideration of value you give up, which is hardly thin air, nothing or fictitious.
2) Banks are logically not loaning you *YOUR* money because the bank neither risks or gives up consideration of value from its otherwise prior legitimate possession to even rationally justify any loan from the bank to you, much less the taking of interest.
3) Banks are logically not purchasing or borrowing your promissory note / security / money because the bank neither risks or gives up consideration of value to otherwise rationally justify any purchase between you & the bank took place, much less any loan from you to the bank.
4) Banks are logically stealing the value of our production we give up to each other in any trade or transaction , ”X2″ due to unwarranted interest by simply pretending to loan all the money WE CREATE (principal only) into circulation in the first place. In other words the purported loan is not a loan at all, neither ethically or rationally, but instead a monumental crime of theft.
5) Logically economist Richard Werner & associates (phony experts in economy) & usury media alike are throwing the baby out with the bathwater to irrationally justify an oxymoron (ie: banks create money out of nothing) & a myriad of other barefaced LIES thereafter as a result.
Do not be fooled by these 11th hour pretenders folks. To irrationally suggest banks create money from nothing is to likewise suggest banks are stealing nothing, which is denying a monumental crime of theft.
So no matter how these buffoons obscure the facts the purported loan never transpires anyway, not from the bank to one of us, nor from one of us to the bank. No legitimate sale ever transpires between the bank or anyone because the business of banking is not commerce but piracy. Whichever way you look at this however distorted by pretend economists the bank gives up no commensurable consideration of value from its otherwise prior legitimate possession in any debt, trade, sale or transaction. Therefore the purported loan is a monumental crime of theft, subsequently stealing the value WE THE PEOPLE give to all money & property that is hardly nothing or thin air.
Advocate / mentor, Co-founder, Co-director – Mathematically Perfected Economy™ (au)