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	<title>Comments on: Are Bank Deposits Money &#8211; Update</title>
	<atom:link href="http://ozrisk.net/2009/09/02/are-bank-deposits-money-update/feed/" rel="self" type="application/rss+xml" />
	<link>http://ozrisk.net/2009/09/02/are-bank-deposits-money-update/</link>
	<description>Risk Management in Australia</description>
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	<item>
		<title>By: I vote deflation &#171; Karmaisking&#39;s Blog</title>
		<link>http://ozrisk.net/2009/09/02/are-bank-deposits-money-update/#comment-28415</link>
		<dc:creator><![CDATA[I vote deflation &#171; Karmaisking&#39;s Blog]]></dc:creator>
		<pubDate>Fri, 27 Nov 2009 02:06:07 +0000</pubDate>
		<guid isPermaLink="false">http://ozrisk.net/?p=712#comment-28415</guid>
		<description><![CDATA[[...] out some discussion material on the hoary old deflation/inflation debate on the Ozrisk.net website here, where I explained my position.  It will (mainly) be deflation, oscillating violently between the [...]]]></description>
		<content:encoded><![CDATA[<p>[...] out some discussion material on the hoary old deflation/inflation debate on the Ozrisk.net website here, where I explained my position.  It will (mainly) be deflation, oscillating violently between the [...]</p>
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		<title>By: Fractional reserve banking as a lie &#171; Karmaisking&#39;s Blog</title>
		<link>http://ozrisk.net/2009/09/02/are-bank-deposits-money-update/#comment-28359</link>
		<dc:creator><![CDATA[Fractional reserve banking as a lie &#171; Karmaisking&#39;s Blog]]></dc:creator>
		<pubDate>Sat, 07 Nov 2009 10:57:26 +0000</pubDate>
		<guid isPermaLink="false">http://ozrisk.net/?p=712#comment-28359</guid>
		<description><![CDATA[[...] By karmaisking  I&#8217;ve thought about fractional reserve banking quite a lot.  Here.  Here.  Here and [...]]]></description>
		<content:encoded><![CDATA[<p>[...] By karmaisking  I&#8217;ve thought about fractional reserve banking quite a lot.  Here.  Here.  Here and [...]</p>
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		<title>By: ABOM</title>
		<link>http://ozrisk.net/2009/09/02/are-bank-deposits-money-update/#comment-28288</link>
		<dc:creator><![CDATA[ABOM]]></dc:creator>
		<pubDate>Tue, 03 Nov 2009 23:14:39 +0000</pubDate>
		<guid isPermaLink="false">http://ozrisk.net/?p=712#comment-28288</guid>
		<description><![CDATA[Game. Set. Match.  

I&#039;ve won, but it has cost me my soul, my hope for the future and my hope for the long-term sustainability of human civilization.  

A small price to pay...for legalising fractional reserve banking and supporting it with a central bank.


http://globaleconomicanalysis.blogspot.com/2009/11/what-is-money-and-how-does-one-measure.html]]></description>
		<content:encoded><![CDATA[<p>Game. Set. Match.  </p>
<p>I&#8217;ve won, but it has cost me my soul, my hope for the future and my hope for the long-term sustainability of human civilization.  </p>
<p>A small price to pay&#8230;for legalising fractional reserve banking and supporting it with a central bank.</p>
<p><a href="http://globaleconomicanalysis.blogspot.com/2009/11/what-is-money-and-how-does-one-measure.html" rel="nofollow">http://globaleconomicanalysis.blogspot.com/2009/11/what-is-money-and-how-does-one-measure.html</a></p>
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		<title>By: ABOM</title>
		<link>http://ozrisk.net/2009/09/02/are-bank-deposits-money-update/#comment-28168</link>
		<dc:creator><![CDATA[ABOM]]></dc:creator>
		<pubDate>Mon, 26 Oct 2009 06:05:38 +0000</pubDate>
		<guid isPermaLink="false">http://ozrisk.net/?p=712#comment-28168</guid>
		<description><![CDATA[This one&#039;s off moderation too.  Thanks.]]></description>
		<content:encoded><![CDATA[<p>This one&#8217;s off moderation too.  Thanks.</p>
]]></content:encoded>
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		<title>By: ABOM</title>
		<link>http://ozrisk.net/2009/09/02/are-bank-deposits-money-update/#comment-28144</link>
		<dc:creator><![CDATA[ABOM]]></dc:creator>
		<pubDate>Fri, 23 Oct 2009 11:25:46 +0000</pubDate>
		<guid isPermaLink="false">http://ozrisk.net/?p=712#comment-28144</guid>
		<description><![CDATA[Keynes was a central banker.  Please Alice, they&#039;ve laid all the traps - funnel people like you who are discontented with the debt-based system into either Keynesianism or socialism.  Which just entrench their power even more.  Keynesianism is a trap for suckers (except for the Minsky-Steve Keen variety, which eventually if you think carefully about it leads to sound money anyway).

They NEVER talk about anarchism (in the good sense), von Mises, Rothbard, Rowbotham, Ellen Hodgson Brown (a woman who really is at the forefront of monetary reform!), or Elaine Meinel Supkis (check out her blog).  Check out the following:

http://www.youtube.com/watch?v=_doYllBk5No

Don&#039;t lose hope.  It&#039;s darkest before the light.  The huge obscene bonuses they are paying in counterfeit confetti may be a sign they want to get as much cheese off the table before the cheese is taken away from them.  The rats can sense a sinking ship before anyone else.  More and more people are understanding the deception behind the monetary system - the fraud, the embezzlement, the greed, the corruption - the insane suicidal stupidity of it all.  

The US economy is sinking (the banks are only &quot;lending&quot; back to govt, not to the private sector - a sure sign of the late stages of economic cancer). 

There won&#039;t be much more cheese to take off the table because those who produce the cheese are all dying.  Sad.

But soon gold will return as money.  Then the reptilian rats will have to flee, or at least hide in the shadows.  Where they belong.   

http://www.marketoracle.co.uk/Article14396.html

http://www.professorfekete.com/articles/AEFGoldBasisIsDeadLongLiveGoldBasis.pdf

I often lose hope too.  But with the determination of people like us we can cut the parasites off from the economic bloodstream and laugh as we watch them wither and die.  It will all happen with the removal of legal tender laws.   I love you.  Hopefully our love for our children and the determination to create a SUSTAINABLE economy will see us through.

If God exists, justice will prevail.]]></description>
		<content:encoded><![CDATA[<p>Keynes was a central banker.  Please Alice, they&#8217;ve laid all the traps &#8211; funnel people like you who are discontented with the debt-based system into either Keynesianism or socialism.  Which just entrench their power even more.  Keynesianism is a trap for suckers (except for the Minsky-Steve Keen variety, which eventually if you think carefully about it leads to sound money anyway).</p>
<p>They NEVER talk about anarchism (in the good sense), von Mises, Rothbard, Rowbotham, Ellen Hodgson Brown (a woman who really is at the forefront of monetary reform!), or Elaine Meinel Supkis (check out her blog).  Check out the following:</p>
<p><span style="text-align:center; display: block;"><a href="http://ozrisk.net/2009/09/02/are-bank-deposits-money-update/"><img src="http://img.youtube.com/vi/_doYllBk5No/2.jpg" alt="" /></a></span></p>
<p>Don&#8217;t lose hope.  It&#8217;s darkest before the light.  The huge obscene bonuses they are paying in counterfeit confetti may be a sign they want to get as much cheese off the table before the cheese is taken away from them.  The rats can sense a sinking ship before anyone else.  More and more people are understanding the deception behind the monetary system &#8211; the fraud, the embezzlement, the greed, the corruption &#8211; the insane suicidal stupidity of it all.  </p>
<p>The US economy is sinking (the banks are only &#8220;lending&#8221; back to govt, not to the private sector &#8211; a sure sign of the late stages of economic cancer). </p>
<p>There won&#8217;t be much more cheese to take off the table because those who produce the cheese are all dying.  Sad.</p>
<p>But soon gold will return as money.  Then the reptilian rats will have to flee, or at least hide in the shadows.  Where they belong.   </p>
<p><a href="http://www.marketoracle.co.uk/Article14396.html" rel="nofollow">http://www.marketoracle.co.uk/Article14396.html</a></p>
<p><a href="http://www.professorfekete.com/articles/AEFGoldBasisIsDeadLongLiveGoldBasis.pdf" rel="nofollow">http://www.professorfekete.com/articles/AEFGoldBasisIsDeadLongLiveGoldBasis.pdf</a></p>
<p>I often lose hope too.  But with the determination of people like us we can cut the parasites off from the economic bloodstream and laugh as we watch them wither and die.  It will all happen with the removal of legal tender laws.   I love you.  Hopefully our love for our children and the determination to create a SUSTAINABLE economy will see us through.</p>
<p>If God exists, justice will prevail.</p>
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		<title>By: Alice</title>
		<link>http://ozrisk.net/2009/09/02/are-bank-deposits-money-update/#comment-28143</link>
		<dc:creator><![CDATA[Alice]]></dc:creator>
		<pubDate>Fri, 23 Oct 2009 09:11:38 +0000</pubDate>
		<guid isPermaLink="false">http://ozrisk.net/?p=712#comment-28143</guid>
		<description><![CDATA[best suggestion Ive heard all day

&quot;I’d prefer to stop the plane completely – shut down the casino (using depositors money), stop the blatant embezzling, allow gold to cleanse the system, nationalise those who are busted when the lights are turned off on the gaming tables, and then sell off the broken up banks as small-enough-to-die institutions.&quot;

but Im too depressed to talk about it (really). I have been ever since I heard Goldmans made 3 bill profit on the taxpayers back...seriously ABOM, can anyone blame me for being a Keynesian. I just want to belt the hell of them. I wish they were too small not to fail or that someone had the guts ti cut them up. Ive lost all hope. When Andy talks I just dont hear a workable solution ABOM. I hear another failed solution.]]></description>
		<content:encoded><![CDATA[<p>best suggestion Ive heard all day</p>
<p>&#8220;I’d prefer to stop the plane completely – shut down the casino (using depositors money), stop the blatant embezzling, allow gold to cleanse the system, nationalise those who are busted when the lights are turned off on the gaming tables, and then sell off the broken up banks as small-enough-to-die institutions.&#8221;</p>
<p>but Im too depressed to talk about it (really). I have been ever since I heard Goldmans made 3 bill profit on the taxpayers back&#8230;seriously ABOM, can anyone blame me for being a Keynesian. I just want to belt the hell of them. I wish they were too small not to fail or that someone had the guts ti cut them up. Ive lost all hope. When Andy talks I just dont hear a workable solution ABOM. I hear another failed solution.</p>
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	<item>
		<title>By: ABOM</title>
		<link>http://ozrisk.net/2009/09/02/are-bank-deposits-money-update/#comment-28141</link>
		<dc:creator><![CDATA[ABOM]]></dc:creator>
		<pubDate>Fri, 23 Oct 2009 06:09:34 +0000</pubDate>
		<guid isPermaLink="false">http://ozrisk.net/?p=712#comment-28141</guid>
		<description><![CDATA[The &quot;$29 $25&quot; comment was for the sale of a book embedded in a graphic to the original article.  It could also be interpreted as the daily fall in the real value of money over time as banks create money through the issuance of loans under FRB (ha ha ha).]]></description>
		<content:encoded><![CDATA[<p>The &#8220;$29 $25&#8243; comment was for the sale of a book embedded in a graphic to the original article.  It could also be interpreted as the daily fall in the real value of money over time as banks create money through the issuance of loans under FRB (ha ha ha).</p>
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	<item>
		<title>By: ABOM</title>
		<link>http://ozrisk.net/2009/09/02/are-bank-deposits-money-update/#comment-28140</link>
		<dc:creator><![CDATA[ABOM]]></dc:creator>
		<pubDate>Fri, 23 Oct 2009 06:06:36 +0000</pubDate>
		<guid isPermaLink="false">http://ozrisk.net/?p=712#comment-28140</guid>
		<description><![CDATA[If we agree that deposits are money with a central bank, then...

&quot;For this reason, the policy of sound money is very much linked with morality. The Hebrew scriptures, in the nineteenth chapter of the book of Leviticus, warn: &quot;you shall have just balances, just weights…&quot; 

The twenty-fifth chapter of Deuteronomy issues a similar warning: &quot;You shall not have in your bag differing weights, a large and a small.&quot; 

Proverbs says the same: &quot;A false balance is abomination to the LORD: but a just weight is his delight.&quot; 

Another passage says, &quot;Diverse weights, and diverse measures, both of them are alike abomination to the LORD.&quot;


$29 $25

&quot;Stabilizing Conservatorship&quot;All of these relate in some degree to the need for sound money and condemn the act of fraud and monetary debasement. The consequences of monetary sin cannot be contained to the sinners only. They are spread out all over the whole of society, destroying its economic basis and corrupting its morals. They foster crazed illusions that we can magically generate wealth through the act of printing money, and the attempt to do so has catastrophic consequences. As Mises wrote, &quot;Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism.&quot;

I find it sickening that there are so few voices outside the Austrian School that will stand up to this policy. And I fear that the consequences of this policy will be felt for many decades into the future. There is still time to reverse course. There is nothing inevitable about despotism. We are not being forced down this road. We can embrace freedom. If we understand that freedom is inseparable from sound money, we can embrace that too. Until then, we will continue to place our trust in the political establishment to do what is right. Call me a gold bug if you will, but I trust hard money far more than our rulers. And that, ultimately, is the choice we must make.&quot;

Lew Rockwell.]]></description>
		<content:encoded><![CDATA[<p>If we agree that deposits are money with a central bank, then&#8230;</p>
<p>&#8220;For this reason, the policy of sound money is very much linked with morality. The Hebrew scriptures, in the nineteenth chapter of the book of Leviticus, warn: &#8220;you shall have just balances, just weights…&#8221; </p>
<p>The twenty-fifth chapter of Deuteronomy issues a similar warning: &#8220;You shall not have in your bag differing weights, a large and a small.&#8221; </p>
<p>Proverbs says the same: &#8220;A false balance is abomination to the LORD: but a just weight is his delight.&#8221; </p>
<p>Another passage says, &#8220;Diverse weights, and diverse measures, both of them are alike abomination to the LORD.&#8221;</p>
<p>$29 $25</p>
<p>&#8220;Stabilizing Conservatorship&#8221;All of these relate in some degree to the need for sound money and condemn the act of fraud and monetary debasement. The consequences of monetary sin cannot be contained to the sinners only. They are spread out all over the whole of society, destroying its economic basis and corrupting its morals. They foster crazed illusions that we can magically generate wealth through the act of printing money, and the attempt to do so has catastrophic consequences. As Mises wrote, &#8220;Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism.&#8221;</p>
<p>I find it sickening that there are so few voices outside the Austrian School that will stand up to this policy. And I fear that the consequences of this policy will be felt for many decades into the future. There is still time to reverse course. There is nothing inevitable about despotism. We are not being forced down this road. We can embrace freedom. If we understand that freedom is inseparable from sound money, we can embrace that too. Until then, we will continue to place our trust in the political establishment to do what is right. Call me a gold bug if you will, but I trust hard money far more than our rulers. And that, ultimately, is the choice we must make.&#8221;</p>
<p>Lew Rockwell.</p>
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	<item>
		<title>By: ABOM</title>
		<link>http://ozrisk.net/2009/09/02/are-bank-deposits-money-update/#comment-28139</link>
		<dc:creator><![CDATA[ABOM]]></dc:creator>
		<pubDate>Fri, 23 Oct 2009 02:57:55 +0000</pubDate>
		<guid isPermaLink="false">http://ozrisk.net/?p=712#comment-28139</guid>
		<description><![CDATA[What&#039;s odd is you interpreting my recent entry (quoting Jackson criticising &quot;monied interests&quot; and &quot;paper currency&quot;) as supporting govt fiat.  

Distinctly odd.  

But then to simultaneously support &quot;free markets&quot; and tolerate monopoly fiat, current oppressive legal tender laws and central banking would require a certain inability to accurately process reality.]]></description>
		<content:encoded><![CDATA[<p>What&#8217;s odd is you interpreting my recent entry (quoting Jackson criticising &#8220;monied interests&#8221; and &#8220;paper currency&#8221;) as supporting govt fiat.  </p>
<p>Distinctly odd.  </p>
<p>But then to simultaneously support &#8220;free markets&#8221; and tolerate monopoly fiat, current oppressive legal tender laws and central banking would require a certain inability to accurately process reality.</p>
]]></content:encoded>
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		<title>By: Andrew</title>
		<link>http://ozrisk.net/2009/09/02/are-bank-deposits-money-update/#comment-28138</link>
		<dc:creator><![CDATA[Andrew]]></dc:creator>
		<pubDate>Fri, 23 Oct 2009 01:49:43 +0000</pubDate>
		<guid isPermaLink="false">http://ozrisk.net/?p=712#comment-28138</guid>
		<description><![CDATA[So - now you are in favour of government fiat as well, then. Odd.]]></description>
		<content:encoded><![CDATA[<p>So &#8211; now you are in favour of government fiat as well, then. Odd.</p>
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