It seems like a new banking system backed by something tangible again like how it was in the 1800's and prior would be a good move but would those of us in debt still be in debt to the banks? If not, how would our debts magically be absolved?
Example, say you owe money on your car and you have a ton of outstanding debt to a bank or credit lender. How exactly does implementing a new system of banking nullify this? Can't the bank still say "Since the USD is defunct, now you owe us the "New US Treasury Certificate" equivalent of that amount"?
I just can't quite put 2 and 2 together how the new currency would be debt free without older debts being absolved first.
The money we borrow doesn't exist until we borrow it.
Who exactly do we owe it too.
accounting 101 should be taught in kindergarten thru 12th grade.
we do not have "money" per se.
we have a system of debits and credits.
and on top of that system of debits and credits,
we have a system of USURY.
USURY is the root of all evil.
if we can get rid of USURY, we could liberate ourselves, and our future generations.
USURY is the mechanism by which the rich get richer, and the poor get poorer.
USURY is the mechanism by which the wealth is taken from those who create it, which are the laborers, and transferred to the USURY CLASS.
the USURY CLASS then uses their massive wealthy to buy everything from newspaper companies to factories to single family homes.
USURY is the tool of enslavement.
USURY is the beast system.
USURY is their primary tool of acquiring unlimited wealth and power.
USURY is insatiable.
USURY is unsustainable.
and USURY is completely unnecessary.
you can Vote for Donald Trump, but Trump is just one man, with limited power.
and you leave this system of usury in place, Donald Trumps attempt to drain the swamp will be a footnote of history.
for real, lasting change, we must dismantle the usury based "money" supply.
but first, we must educate ourselves,
and then we must educate others.
once we have made our case, for what the problem is,
then we can make the case for what to do about it.
i have run the numbers, and i can tell you that any compounding interest rate above 0.00% will always be unsustainable in the long run.
it always "goes asymptote", and shoots for the moon.
as Jefferson allegedly said, paraphrased,
"first by inflation, then by deflation"
the is why there are cyclical BOOM and BUST cycles regularly throughout history.
they inflate the money supply, then they deflate the money supply.
and theres a certain group of people who always seem to get blamed,
every time the economy crashes, and people start to educate themselves about how the economy really works.
and this group of people has been kicked out of well over 100 different countries,
allegedly because of "hate"
because in the minds of the usury class, its "hateful" for you to deny them the right to enslave you with their usury, because thats just their religion, where they are the master, and you are the slave. and to deny the master his rightful ownership of you, is hateful.
It's not just the interest. They create money out of thin air. It's not like they had some gold and we borrowed it.
They had nothing to start with.
They can have back exactly what they started with.
Nothing.
Yes!
This is the answer; all the above is venting.
Edit, they can have back the currency they collectively decanted to nothing. Whether it's replaced by actual value currency (which debtors repay at the ORIGINAL VALUE of the currency at the time they initially took out the loan) or with worthless currency (that we print out at will JUST LIKE THEY DID), something gets paid back and cancels the debt.
Personally I'd think it's fair to pay back what we originally promised, but valued properly.
Paying back the debt with worthless currency seems like the best option.
I’m hoping that’s what happens.
Turn this entire thing into post fren
Tell me, do they charge usury to one another in this group?
Excellent comment! I would add one small distinction:
USURY is the Harlot system
Sounds commie.
I mean.. You can see on your billing statement who you owe it to.
You owe it to the entity you took out the loan from.
So if a new banking system and current was implemented, I don't see how that would suddenly make the bank say "Oh ok. You don't owe us anymore. We're happy to have given you free money earlier. Thanks"
Wash it away maybe? Fractional reserve lending means only 10% of money exists in deposits. The other 90% is made up
Makes sense, but then that leaves the question of ownership. Say in this example you owed $5K on your car.. If the debt is "washed away" does the bank have the right to repo the car if you don't give them the $5K equivalent of whatever the new currency is?
Yeah that's where I get lost in this too
Gotta figure that most of the institutions that hold our 'debt' will be washed away at the same time as the fiat. The entire financial landscape will be unrecognizable at the end of this, the holders of debt gone, either bankrupt or found to be predatory and dismantled.
So in your example, you owe 5k on your car but to who exactly? You dont owe it to Ford or GM because they sold that debt the minute it was acquired. So you owe it to a bank that no longer exists? Or some third party collector that has been feeding off the spoils of our misery and is now classified as predatory?
I think we are focusing on one single aspect when there is a huge web of deceit that needs to be considered in its entirety before we can make any assertions.
Its my opinion that the entire criminally fraudulent credit system is abolished and with it all debt. You cant reset global currencies without resetting global credits and debits. Otherwise you are trying to put a square peg in a round hole.
fractional reserve went out the window a couple years ago
In March 2020, the Fed lowered the reserve requirement ratio — the minimum percentage of deposits kept as reserves — to 0%, meaning there’s no reserve requirement for banks. The Fed says it doesn’t have plans to change it, but the ratio can be adjusted. Banks still hold reserves despite not having a Fed requirement [1].
https://www.nerdwallet.com/article/banking/fractional-reserve-banking
Primary source
https://www.federalreserve.gov/monetarypolicy/reservereq.htm
Eyes on this! Huge news that all frogs should know!
Is this why they get so mad when you actually take out a relatively large sum of cash? Because that whole attitude is just BIZARRE. "Can I ask what you need this money for?" Say WHAT?
They didn't have the money first to lend it.
The act of borrowing created the money.
The act of declaring the money void, means you can't pay it back. I borrowed fake fed dollers, if they no longer exist I can't pay them back.
Can't they just say, okay, then you owe us that $ equivalent of the new currency?
Or on another note. Say you had something like a mortgage or a car loan, now the USD is void, what's stopping the bank from repo'ing your car or taking over your house?
They can say whatever they want.
But they have no law to back them up.
Nothing. Secured debt. They can recover their security if you don't pay for it.
But if the central banks that are the source of the magic imaginary money were found to have been committing wholesale fraud for generations then doesn’t fraud vitiate everything? Thus the banks that borrowed the nebulous idea of a currency from those would not owe it to them and thus like fruit of the poisoned tree it would wend its way through? What doesn’t exist cannot be loaned or borrowed?
How many banks will carry over into a new system or will they all fold and new ones have to be established? I don’t mind paying my debt I borrowed the money but the interest that is outrageous is killing me. Inflation isn’t helping cause what was really good money to our parents doesn’t go anywhere nowadays
You didn't know about interest when you borrowed it? That's the only reason a lender will offer anyone a loan.
Yes I know there is interest but like I have discussed with my mom, she buys a car no for the same price she bought her house in the late 70s. One she has 6 yrs to pay off and the other she had 30. She is like how to we pay one debt off so much quicker but they want to drag the other out
I agree. People keep acting as if they've been forced against their will to take out credit with high-interest rates.
Credit is a privilege. Not a right. I think people have really forgotten that, and think they're being treated unfairly by being charged interest.
What happens if you are retired and senior citizen, no debt, but have money in bank, pension? Does all that evaporate?
Common sense suggests that Trump and the White Hats would not tear down and destroy the financial system of the most powerful nation on earth, and not have already replaced it with something better; and that these are not the type of people who would leave millions of American seniors destitute, their life savings wiped out by the new currency.
Bingo....That's how you can tell people here don't have savings, only debt. Kinda like college students gone wild when they entered the real world.
No, all rightful ownership remains, but it’s carried in the treasury instead of the fed.
We are actually the creditor, not the debtor. The paper with your signature is what holds the value. Our signature is what brings non-existent reserve notes into existence. According to the Fed Reserve Act Section 2 Application for notes by Fed Reserve banks. Those banks are me and you using our signatures. The Fed guarantees Fed Reserve Notes will be issued in exchange for all promissory notes. KEK! Er’ybody just runnin around trading paper. No real money. Where is our remedy?
Here’s the kicker, all real money, coined silver and gold, was taken away from us. All this paper is entirely unconstitutional. The 13th amendment may have freed the slaves but the 14th amendment made slaves of us all. Becoming a citizen, literally means, becoming an employee of the government corporation and all licenses, certificates, any other contracts with the government, yes they are all contracts that are designed to keep you in a commercial status instead of private. Corporations, public entities motivated by nothing but profit and power, have taken the place of trusts, private entities motivated by taking care of someone else’s assets for the benefit of the named beneficiary.
All your God given rights become privileges the state grants you through these issued contracts. For instance, the constitution says we all have the right to travel freely. We are tricked into getting a driver’s license that now takes us out of private travel and puts us in commerce and subject to corporate public traffic laws instead of remaining private travelers self governed under common law. Unless you are transporting goods or passengers for hire you are NOT operating commercially. Check your state laws. Here in CA it clearly states that only commercial for hire drivers have to have a driver’s license. Same goes for registering your car. You don’t have to. You can get the Manufacturer’s Certificate of Origin number from the maker and apply for a DOT vehicle ID# in place of your state license plate. You can land patent your property and own the land that your house is on. Guess what? When you own the land you no longer have to pay rent aka property taxes. Shut up about public services. They contract with privately still as an individual instead of you being lumped in with everyone else’s standard contracts.
I could go on for days about this shit. Learn how to manufacture promissory notes and send them to the Fed for exchange to FRN’s and pay off all your contracts that you were duped into paying for when the bank already took your contract to the Fed and got FRN’s in exchange. And we are paying them again after they already got paid from your signature.
If none of this gets addressed by Trump he isn’t helping nobody do nothing. He is but another perpetrator of these Babylonian money magic crimes.
Every anon should watch and be familiar with what is being presented. It is the basic understanding. No debts exist because you have been bought and sold daily via birth certificates, your birth certificate is directly linked to straw man accounts. Any usury debt owed will be paid off with that account. It’s the same thing when you file bankruptcy, the bankruptcy judge requests from the fed to access your accounts to repay debts he will deem he can write off, now the judge knows these are illegal debts but the system protects itself. Watch and learn https://youtu.be/e4KNxgWY5yg?si=RF8WMCPhcUc6mg7T
Sovereign Citizen?
If one is a citizen, how can they be sovereign?
If one is sovereign, what are they a citizen of?
Your term is retarded
I'm not the one who came up with it. You know that, right?
What do you prefer, Freemen?
And money isn’t created to pay the interest so technically the debt can never be repaid.
That's why the like the pyramid I guess.
We’re not supposed to notice or ask that question are we?