'Paying interest on a loan that never existed' explained on a MSM current affairs show on TVNZ http://tvnz.co.nz/seven-sharp/paying-interest-loan-never-existed-video-5336329 Great to see a story like this on MSM. OK, it doesn't go into great detail, but hopefully will spark further interest from those who want to know more.
Yes! Once you get your head around fractional reserve banking, then you are on your way to understanding how the banks operate. Next you can move onto derivatives and thats an area where no one seems to have all the answers. Regards Errol 43
What happened to their accents?... I could actually understand what they're saying !! This is actually an amazing find...well done. Great story, good comments good on 'em for doing it. Despite the belief that it's just the "Great Aussie Dream", It's great to see the 'Cult of Housing' is alive and well in NZ as much as it is around the rest of the world.
Very much so, but has suffered more than Australia. I bought into the 'cult' in NZ with an investment property in 2006. I'm now sitting on a property worth 40% less on paper than the purchase price Good news is it'll be paid off this time next year and I've now decided it'll be for later in life, coastal, 2 minute walk to the beach, why not huh?
WOW, I did not know the system worked like this, but I always knew something was funny, how can so many of the biggest nations all be in so much debt, where does the money come from, now we know
Sounds like Kiwis are more informed than Australians are. Can't imagine something like that being aired on a prime time magazine program like Today Tonight or Current Affair! ooh nooo.... can't let the zombies in on how they're being shafted by those who actually pull the strings of government! lol that'd be UN-STRALIAN!!! :lol:
very impressed to see something like this on mainstream TV. I hope Aussie TV follows. I've sent this link to all my friends who look at me strangely when I tell them that 'banks create money out of thin air'. The more people understand this, the better chance we have of holding banks accountable for their actions. From my work on the CBA/Bankwest scam I noticed that the banks issue media releases in a manner that takes advantage of the fact that people don't understand how loans are created which makes them easier to mislead.
Interesting to see that on MSM, but I also like this clip from youtube. It explains the banking system perfectly [youtube]http://www.youtube.com/watch?v=2oHbwdNcHbc[/youtube]
And toward the end one of the presenters gives a reason why banking is not a Ponzi scheme. Because people need houses! So there we have it, the whole banking system is legitimate, because people need houses. I remember telling my (NZ) uncle how money is created from thin air. He immediately said it was a crazy conspiracy theory, and wouldn't listen to another word.
