Banks

“Are you so scared on Tuesday when your ATM spits out all new bills?

Don’t Worry!

This was not a missed currency reform, but an Innovation!

The new 100s and 200s gradually replace the old Euro banknotes.

They are colourful as play money and are supposed to drive the money counterfeiters into despair…

This money is fiat money, because it has no value, but only at a price.

It’s more of a currency. And Nothing Lasts Forever….

The decisive factor today is in the age of Fiat-Money, the money from the air, the question is, who is allowed to pull it over the copy machine.

The matter is a little more complicated, because we have no paper money, that is paper money.

From a precise point of view, the notes are made of colourfully printed cotton, which does not make things any better, especially in the longer term.

For each note you have to work hard and stretch quite a bit and to have a gram of cotton as the equivalent in your Hand.

All money bills now live in something holy, something hypocritical.

People believe they can always go shopping with it.

Saving now looks a little different, after the ECB has eradicated the interest rate.

And it will probably stay this way until the next currency reform.

At some point, every paper money ends up in a disaster.

But you sit back and enjoy the spectacle in slow motion.

Because this disaster is not happening so fast.

First come the destroyers in the robe of rescuers.

Then they lose their clothes and are naked.

Then you have to dress warmly in an age in which pluralism is replaced by dogmas.

Do you know an eternal currency?

There’s one already, but I’m writing about it, then that’s it… well, you know.

The Euro reminds me more of the Lira and Drachma and less of the D-Mark.

And this much-praised d-Mark also consisted only of paper.

If you are more specific about it: the old 500€ note is not renewed and should eventually disappear.

My Baker will now look less grim in the morning when i try to buy a pretzel with it, while the bribe case Lobby carries deep sorrow.

With 500€ notes, they say, money is washed and terrorism is financed.

With their disappearance, the world will be better, because no one can buy more weapons and hashish and smear politicians. (well… maybe)

The illegal workers of modern times are paid with biscuits. Sure!

Do you also check the change for possible fakes?

Probably not.

Who can distinguish a flower from a supposedly genuine ticket?

Nevertheless, they have completely new security features.

Those who (by accident) hold fake notes by accident will not be able to change them.

According to the ECB, 563,000 false banknotes were withdrawn from circulation in Europe last year (2018).

-19% less than in 2017.

The estimated damage amounted to 31.4 million €.

The real damage caused by the ECB’s monetary policy is likely to be much higher.

Do you still remember the introduction of the Euro as cash 17 years ago?

The banknotes still have the same numbers, but today you can buy much less with it, while the ECB likes to describe its Inflation as monetary stability.

At the beginning, Europe had only EUR 227 billion in circulation, and now with EUR 1.26 trillion six times as much.

So a face-lift with new security features, is expensive advertising for a money without value.

But you can spend it or exchange it into something that does not lose its purchasing power so quickly.

A real security feature would be, however,if each oh so colorful secure glow would be ECU-guranteed exchange for something with value.” (something that does not become bad with time, silver maybe? (even if it is only very little silver))

Auto-Translated from: https://www.cashkurs.com/kolumne/beitrag/nicht-nachhaltige-werthaltigkeit/

PS: Only a small amount (8%) of the “modern” US-Dollar money in circulation exists as “cash” (money only the central bank may create). So 92% only exists digital. Kind of scary huh?

The private banks (according to the rules) are only allowed to produce digital giral/fiat money – not cash.

And they did that plentiful. (way more than the real economic growth)

Thus – you can not withdraw all the money in a private bank in cash – there is not enough cash – it would first have to be printed and private banks really do not like to trade their digital fiat money into central bank fiat money – hence they work on a cashless (central bank less?) society.

Männerporträt (nach einem Gemälde von Lucas Cranach d. Ä., Königliche Museen der Schönen Künste in Brüssel), lange Zeit als der Magdeburger Domherr Johannes Scheyring betrachtet, möglicherweise jedoch eher der Mathematiker und Astronom Johannes Schöner.[57][58]

IT IS NOT KNOWN WHO THE GUY ON THE OLD 1000DM BILL ACTUALLY WAS!? WTF!?

“Männerporträt (nach einem Gemälde von Lucas Cranach d. Ä., Königliche Museen der Schönen Künste in Brüssel), lange Zeit als der Magdeburger Domherr Johannes Scheyring betrachtet, möglicherweise jedoch eher der Mathematiker und Astronom Johannes Schöner.”[57][58]

8.3% to be exact

In monetary theory, money is usually grouped into four (or more) categories M0, M1, M2 and M3. The categorisation is done according to the liquidity of the respective form of money, from most liquid to least liquid.

M0, which is the closest observable set of money to what you are asking about, is the amount of cash in circulation, i.e. the amount of all money that exists in bills and coins.

M1, contains M0, i.e. all bills and coins in circulation, as well as all checking accounts, i.e. all money that is immediately available.

M2 contains M1 and additionally all savings accounts and time deposits under USD 100k. This set is significantly larger but also less liquid in the sense that a significant part of this money is not immediately available.

M3 now contains M2 and additionally larger time deposits and institutional accounts.

Note that this is the definition of the Fed; there are other definitions of these sets by the European Central Bank, the Swiss National Bank and the German Bundesbank among others.

The quantities of these sets are estimated by the respective central bank for the respective currency and a global estimate is hard to come by. However, with some extrapolation one obtains (roughly) the following numbers:

  • M0 = USD 4.3 trillion
  • M1 = USD 8.5 trillion
  • M2 = USD 41.5 trillion
  • M3 = USD 51.5 trillion

Thus, M0 (the bills and coins) would make up about 8.3% of the money in the world.

src: https://www.quora.com/What-percentage-of-the-worlds-money-is-printed-in-cash-bills-coins?share=1

Links:

http://modernmoneynetwork.org/

https://www.mmtconference.org

https://en.wikipedia.org/wiki/Modern_Monetary_Theory

Videos:

short version: (1min 31sec)

this is her full speech: (6min 52sec)

Theresa May Resigns as British Prime Minister

Why is it so hard to implement democracy?

Even in Britain, which is not said to be no dictatorship.

It is not a unlikely British phenomenon – it is global.

Long term serving Chancellor Kohl (yes the fat guy with strange accent) revealed that the “pushed through the Euro like a dictator”

2013:  “I knew that I could never win a referendum in Germany,” he said. “We would have lost a referendum on the introduction of the euro. That’s quite clear. I would have lost and by seven to three.”

said former German Chancellor Helmut Kohl (src: telegraph.co.uk)

“Political life is like this – elections go back and forth. Representative democracy can only be successful if one sits down and says – ‘that’s it. I will connect myself’ – as I did – ‘connect my existence to a political project.’ Then you automatically have in your party a lot of people who say: ‘if that fails, so do I’.”

cui bono: who profits? in who’s interest? so that Mercedes and BMW can export more cars to Greece?

really?

yes even Paul J!

Modern Monetary Theory – A Debate: Randall Wray (Pt 1/4)

https://therealnews.com/tag/modern-monetary-theory

Guys i can comment on “Green New Deal” and “Medicare for all”:

fucked up monetary system aka “private bank issued debt money” system:

Europe has the same FUCKED UP monetary system as the US – why?

Because a lot of Trumps told us “it’s so great”.

Because politicians said “free trade and privatization are the road to glory” and copied the US the grand example, trying to form a “United States of Europe under one currency (to rule them all)”.

Now even the US realizes – it is losing this game to the Chinese and it has MASSIVE CATASTROPHIC sideffects – such as destruction of nature, joblessness, producing massive inequality – which produces massive tensions, in the worst case “a failed society” with massive civil war like insecurity and crime.

No one – not even the affluent rich – can want that – because not even THEY will have the freedom to roam the streets freely with their Porsche and Mercedes.

A good example of this rich vs poor gap is Sao Paulo – massively gated communities vs illegal build slums (people basically can not even afford their own land) – fun fact – not even the rich enjoy their golden cage with a pool.

Their kindergartens are like high-security prisons – except – they try to lock people out.

Imagine going to 30mins of security checks – just to give your child to kindergarten – every day.

Green New Deal:

You have to KNOW what it means:

  • it means a lot of small power-plant OWNERS (millions and millions!) – yes YOU!instead of few centralized high-power nuclear reactors owned by not so many people making a $1million PER DAY.
  • it means if the government needs to start spending reasonably – forms a own sate-owned bank (why not?) – give out cheap loans to THE PEOPLE that own a house and want to put “90% REALLY MADE IN USA” solar panels and battery chargers and battery systems on their roof to lower their electricity bill by 60%.
    • MADE IN USA = generate jobs
    • how will it be paid for?
      • if you get a loan 1-3% p.a. over 20 years from state-owned bank to finance your tesla-battery backed solar powered 10kW power plant (enough for 5 people in a medium sunny area) to achieve 60% independence from the grid – that is a lot of savings plus a lot of green renewable energy generated (you can say 1000kWh per 1kWpeak installed)
      • calculate it!
      • plus: after 20 years YOU OWN YOUR OWN POWER PLANT! that will probably last another 20 years.

will there be no downsides?

  • the government could decide to raise taxes on electricity – even better if you consume most of your self generated electricity yourself (!) and feed the rest into the grid.
  • right now in Germany electricity prices have grown so the government has cut down on the solar funding – but the electricity bill keeps rising – so all the rising after 2018 has nothing to do with renewables but  with the fishy collusion of gov + energy companies trying to exploit the public! AGAIN!
  • a lot of companies have applied for “not paying” the green electricity tax and got it granted – not okay, it was meant for companies with very high energy demand.

overall: it was a giant success. after only 20 years Germany’s electricity has grown to 50% renewables, 7% of which is solar (2018) produced by the people for the people – owned by the people.

key issue: energy storage – from day to night and summer to winter would be IT – GO TESLA POWERWALL GO! 🙂

Medicare for All:

is not a problem at all – a lot of countries do that already – it works like this your boss will send 10% of your income straight to “medicare4all” a (hopefully) governmental institution that then pays your doctor fees.

That’s it!

Any questions?

Sideffects: doctors might get paid less and less and get more and more laws and bureaucracy to follow – this means to earn the same – they will have to “process” more and more patients per hour thus trying to become more efficient, faster and work harder (longer hours) to afford the Porsche, but if they really want it they still can get it.

So what is your problem with that? America?