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If all bank loans were paid up…

IMG Auteur
From the Archives : Originally published February 01st, 2009
152 words - Reading time : less than a minute
( 7 votes, 4.7/5 ) , 2 commentaries
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Category : Fundamental

“If  all the bank loans were paid up, no one would have a bank deposit, and there would not be a dollar of currency or coin in circulation.

This is a staggering thought. We are completely dependent on the commercial banks for our money.

Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money, we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp upon the picture, the tragic absurdity of our hopeless position is almost incredible - but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it is widely understood and the defects remedied very soon”.

Robert H. Hemphill,

Credit manager of the Federal Reserve Bank of Atlanta

January 24, 1939

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In my opinion,: You are absolutely correct, but with a number of respectful caveats - as follows:

1. In my view, it is not only the bankstering system - all democratic governments are also frauds.

2. Commoners the world over have never been in a position of such tremendous econimic strength to exercise our will - by simply refusing to fund userous governments and banksters.

3. Commoners must at some point in time begin to realize we have to make a choice - either we sit idly as banksters and governments intentionally bankrupt each of us vis-a-vis the slow frog boil - or we turn the tables to quickly and seamlessly bankrupt them.

4. That said, however, it was and still is my further recommendation for commoners to go further - by quietly leveraging all personal assets to the maximum FIRST - using fiat dollar loans to prepare for calamity by storing necessary consumables, barter inventories and precious metals et al - THEN refuse to repay fiat loans, all taxes and every other governmental bankstering encumberance.

I believe my online comments detailing a more lengthy opinion were first posted in early 2008. In mid 2010 a google hit-count of my name and or email address would yield approx 2.4 M. However, as I continued reposting same through until later 2010 - my google hit-count suddenly dropped to 84.

FYI : I never post comments by psyedonym or alias, because I believe leadership requires a name.

In closing, I want to thank you and the monitors of 24hrgold for posting your succinctly adroit comment.
Yours, very truly.

Peter Carson

The next revolution in America will not be with guns, it will/could easily be accomplished by a sudden and overwhelming viral event of citizens haulting the payment on loans to a fraudulant banking system. Remember, not one person from any government connected financial entity on wall street has gone to jail for fraud or treason. Hank Paulson and his ilk have saved THEIR fraudulant system. We average citizens feel powerless because the financial villans have bought the politicians and in doing so have set US on a ruinous course.
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@radar2350 In my opinion,: You are absolutely correct, but with a number of respectful caveats - as follows: 1. In my view, it is not only the bankstering system - all democratic governments are also frauds. 2. Commoners the world over have never bee  Read more
Peter C. - 2/11/2011 at 9:22 PM GMT
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