BOE admit credit from THIN AIR!

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BOE admit credit from THIN AIR!

Postby BaldBeardyDude » Wed Feb 10, 2010 4:04 pm

The Bank of England, in one of it's own pulications, has ley a major cat out of the bag, folks.

Read this:

"...banks extend credit by simply increasing the borrowing customer’s current account, which can be paid away to wherever the borrower wants by the bank ‘writing a cheque on itself’. That is, banks extend credit by creating money."


It is in this publication from the Bank ITSELF...foot, gun anyone? :mrgreen:

Download it, excerpt it and USE this information. It is dynamite! PAGE 103 (105 in acrobat reader)

Remember - the whole idea is to have fun... :wink:

EMAIL EVERYONE YOU KNOW - SPREAD THE WORD, PEOPLE.....LET'S GET THIS VIRAL!

BBD
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Re: BOE admit credit from THIN AIR!

Postby MikeThomas » Wed Feb 10, 2010 4:12 pm

Nice find Baldy! Well done mate :yes:
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Re: BOE admit credit from THIN AIR!

Postby BaldBeardyDude » Wed Feb 10, 2010 4:25 pm

I cannot take the CREDIT (groan) for this, Mike - Terry (Highspirits) found it, we are busy getting the word out.... :mrgreen:
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Re: BOE admit credit from THIN AIR!

Postby the_common_law_reverend_kenny » Wed Feb 10, 2010 4:29 pm

...sending it every where.... :yes:

:peace:
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Re: BOE admit credit from THIN AIR!

Postby Jim » Wed Feb 10, 2010 4:57 pm

What a find! Nice one, BBD and HS!

(It's on page 103 of the link BBD posted if you can't be bothered to read the whole thing)

:peace:

J

EDIT BY BBD - thanks, Jim - I have updated the post m8 :yes:
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Re: BOE admit credit from THIN AIR!

Postby mark1963 » Wed Feb 10, 2010 8:52 pm

Does this mean that with all Bank loans that there is no consideration given by the lenders and does this extend to all Loan companies?
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Re: BOE admit credit from THIN AIR!

Postby BaldBeardyDude » Wed Feb 10, 2010 9:34 pm

mark1963 wrote:Does this mean that with all Bank loans that there is no consideration given by the lenders and does this extend to all Loan companies?


It means your signature on a document in the bank, like a loan application form, IS the VALUE. They take the note and flog it, or use it to leverage futher 'loans', giving you instead, credit - which costs them nothing and, more importantly - has NO VALUE. Therefore they brought no consideration to the table, did not give FULL disclosure and in equity they have VERY dirty hands indeed.

They then expect you to 'pay' the 'debt' that is non-existent, WITH INTEREST!

If anyone can doubt this now, then please read The Top Secret Bankers Manual for the grisly details of exactly how and what they do.
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Re: BOE admit credit from THIN AIR!

Postby Highspirit » Mon Feb 15, 2010 11:04 am

Needs Bumping up, this info is crucial!!

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Re: BOE admit credit from THIN AIR!

Postby The Freeman-on-the-Land known as Michael » Mon Feb 15, 2010 12:33 pm

Indeed, this is crucial information. It is the PROMISE TO PAY that creates the credit.

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Re: BOE admit credit from THIN AIR!

Postby Arten » Mon Feb 15, 2010 12:56 pm

I am now at the stage where I need to put into practice the turning of presentments into cheques. Do you think I need to give instructions when I am doing this? Or do I just feel in the amount required sign it cross it and endorse it on the back with maybe my NI number?
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