April 27, 2010

Creating Money Out Of Thin Air-The Proof



A short film which destroys all the myths you previously believed about the origins of money. (Put a small cushion on your desk to protect your jaw when you discover the source).

If you end up in financial straits, simply ask the bank/building society to validate and verify their loss if you default. They cannot. They cannot because they have lost absolutely nothing. A loan is a contract. For a contract to be lawful there has to be equal consideration. One side takes a "risk", and the other promises to repay. But if the lender has risked nothing, it has not provided equal consideration. In (contract) law, this is the most serious of sins. Research this subject deeply. It may well come in handy one day.

Another little tip, this time concerning debt recovery firms/debt collection agents. These firms usually "buy" your debt from the company you have defaulted on. They then charge round to your house to demand money and/or threaten court action. Confirm that they have paid off the company you were dealing with, and then say "Thank you". The debt has been repaid and you don't have a contract with the debt recovery/debt collection people. You owe them nothing. Remember to smile politely when you thank them. If they get nasty, call the bobbies. Explain to them that the thugs at your door are demanding money with menaces. That is against the law. Explain also that the DRF/DCA admitted that they had repaid your debt to ABC Ltd and that you have no contract with the goons. They don't like it, but so what?

If you don't like that method, simply talk to the goons on the pavement or street. Ensure that you have a witness (it can be anybody, a postman, a passer-by), and get the goon to tell you how much you owe. In law, a private debt spoken of in a public place, is repaid. They (the goons) are absolutely not permitted to mention your debt publicly. Be sure to get contact details from your witness.

Check it out with a solicitor first. A good one will tell you the truth.

CR.

8 comments:

Anonymous said...

If I create something (a work of art,say?)and lend it to you, do you then not have to give it back? They create money, and then lend it to you.
God help anyone who has any valuable possessions or equity in their house who relies on this advice.

Captain Ranty said...

Anon,

That is a strawman argument and has no place here.

We are talking about creating money from nothing. Not works of art. The bank cannot create anything without your/my signature. Without us the banks would fold. Almost overnight.

And it isn't advice. It's an observation, complete with instructions to check it out with a solicitor.

CR

Anonymous said...

I got my credit card to reduce to zero the interest and fees, just by asking them for the "actual accounting". Perhaps I should have held my nerve, but I verbally agreed to pay off the capital, less interest, saving a lot of money. Maybe I shouldn't have paid any, but they did advance credit even if the amount they subsequently charged for it was an outrage. Nevertheless, there's something in this tricky production of money, because otherwise they wouldn't have reduced interest and fees to zero.

Captain Ranty said...

Anon,

Result! Isn't that an admission (from them) in itself?

I'm okay with loans. I'm also okay with credit. I happily use my credit card all over the world. It is a handy tool. Without it I would have to carry suitcases full of different currencies and that would be decidedly inconvenient. I repay the balance as soon as I can so I can avoid the punishing interest.

What I detest is the unfair interest placed upon them both. It costs them nothing to lend you £10,000. Repaying them £10,000 (that you created yourself) plus interest is just taking the piss. But they have to do it to maintain the illusion.

Imagine the opposite. Imagine people popping into the bank and leaving with armloads of money. They would be able to buy what they wanted (great for the economy). All debt would be eradicated instantly and we could live full, proper lives jampacked with fun.

That would put the moneymen out of business instantly too. The world is built on debt. Remove debt and many millions of greedy banksters have absolute nothing to do. The people themselves (banksters) aren't evil, but the system is.

CR.

Revolution Harry said...

Captain, on the same subject can I recommend you listen to an interview with Mike Monatagne founder of 'People For Mathematically Perfected Economy'. I'm sure you'll enjoy it.

http://revolutionharry.blogspot.com/2010/04/i-came-across-this-interview-with-mike.html

Captain Ranty said...

Thanks Harry.

I'll swing by later.

CR.

Barry the Jackal said...

I've been reading some Murray Rothbard. Written about 50 years ago, but it's amazing how prescient it is now!

BTJ

Captain Ranty said...

Barry,

I am not familiar with Murrays writing. I will look him up.

Thanks

CR