The top 12 things you need to know about money: youtube/watch?v=SbCxTy3cnvw youtube/watch?v=S1C22qtP_Ec 1. Money is not backed by gold, silver or any other precious metal. Therefore, it is not “money” – it is “currency.” 2. Money can, and is, “printed” at will by the banks either by using printing press or it is created by computer. 3. The money supply in South Africa has quadrupled in the past decade and continues to rapidly increase. 4. The word “credit” comes from the Latin word meaning “to believe” because belief / confidence is the only thing that gives modern currency its value. 5. The South African Reserve Bank is a private bank and s33 of the Reserve Bank Act means that the actions of the banks are kept secret from the public. 6. When a bank makes a “loan,” brand new money is created. In other words – no loan ever took place. The money is created by the bank as a “fiction” or “credit” that people believe is real, but it is actually a computer simulation. 7. Banks take large amounts of these “loans,” bundle them together and sell them back to the people. They do this on the open market with our pension funds, insurance benefits, municipality savings, etc. 8. When notes and coins are worn out, they are sent to the Reserve Bank and a small percentage of the value of each note goes to the government as a process called “seigniorage.” 9. A bank run occurs when too many people withdraw their money from a bank and it goes under. This happened in 2001 to a South African bank called “Regal Bank” (NBS). 10. Most of the gold in the world is “missing” from the various bank vaults who are supposed to be storing it for safekeeping. 11. South Africa is in a debt epidemic. 60% South Africans with debt have missed at least one payment. Almost half have missed at least three payments. 12. The second that you admit that a debt exists, then Judgment will almost certainly be taken against you. Admitting a debt is the single worst mistake anyone can make when speaking to a debt collector.
Posted on: Fri, 20 Sep 2013 13:38:08 +0000
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