Difference between revisions of "Money Quiz"

Latest revision as of 22:24, 3 June 2008

How much do you know about money ? Most people don't understand how new money enters the economy. As a result, they don't understand debt: debt enslaves them through taxes, higher prices and their own pay-offs. **Where does all the debt come from ?**

Test your knowledge, and learn about it at the same time. Read the answer and comments before proceeding to the next question.

1. What do we have more of ?

A) Cash (and reserves)

B) Money in bank accounts

Answer: b. There is approx. 13x more money in bank accounts, than cash (+reserves). Money in bank accounts cannot be (and is not) part of the cash (and bank reserves) issued by the central bank. It is money created by other means (you'll see, read below).

2. Most money in bank accounts is

A) issued by the government

B) cash people deposit to the bank

C) issued by commercial (private) banks

answer: c. Money on bank accounts was created by commercial banks. With the low Reserve Ratio Requirements (RRR) banks create money: it is the "money multiplication" process. RRR=3% allows the private banking system to create 32x more money than was issued by the central bank.

3. When does the total amount of money (in bank accounts) increase ? (how do private banks create new money?)

A) when someone transfers from one bank account to the other

B) whenever someone gets a loan from a bank

answer: b. new money is created when someone gets a loan. In other words: money is issued by private banks as debt. The bank adjusts the borrowers bank account. New money is created. The amount does NOT disappear from any other account. The new money can start to circulate, and cause some "inflation". No paper money is created. The bank must keep a very small amount of cash (or "reserve" issued by the central bank) this limits the maximum amount of money created. This does not change the fact: new money entered the economy, kindof an inflation tax, all for private benefit. Only the base of the loan is created. No money is created for the interest (that also must be paid).

4. Who said this? "The bank hath benefit of interest on all moneys which it creates out of nothing."

A) USA president Abraham Lincoln

B) Mayer Amschel Rothschild (1744-1812), founder of the House of Rothschild.

C) William Paterson, founder of the Bank of England in 1694, then a privately owned bank.

answer: c. This (old) sentence describes the 20th and 21st century monetary system (more appropriately debt-system) very well

5. When loan is paid off

A) the total amount of money (in bank accounts) decrease

B) the total amount of money (in bank accounts) increase

C) the total amount of money (in bank accounts) does not change

answer: a. As the loan is paid off, the bank effectively destroys the money it created earlier. The bank profits from the interest.

6. If we all pay off the debt to the banks

A) the total amount of money would not change

B) virtually all money would disappear from the economy

answer: b. This is very important. When money is created by debt at interest and canceled by repayment (which is the base of the current monetary system worldwide), it is impossible to pay off all debt and maintain a money supply. The debt can never be paid off until an alternate source of money is available with which to do it.

7. Because the money supply is shrinking as debt is being paid off

A) the government issues money (spending as part of the budget)

B) people and companies get new loans from private banks. The debt increases even more

answer: b. because of the low RRR and the money multiplicator, even if the central bank issues some money, most money is issued by private banks. This is the reason of the national debt: money issued by private banks (for private benefit) instead of the government resulted in an ever increasing pile of interest taxpayers have to pay.

8. Who owns the USA central bank ?

A) private shareholders. The Federal Reserve is a cartel of privately owned banks

B) the government

answer: a. The present private monopoly banking system was enacted into law Dec. 23, 1913 by legislation blatantly mislabeled the Federal Reserve Act. It has been subsequently revised. In the law you find the privately owned banks that benefit from the system. This private monopoly bank is our central banking system. It is the monetary policy authority of the United States. It is a bank of issue, that is, it creates and regulates the money supply. It is sometimes called the bankers’ bank. It is erroneously called the government’s bank. The government banks there, but the government does not own or control the Federal Reserve Banks any more than you own or control the bank where you bank.

9. Money is issued by private banks as debt. Unless we let the money supply disappear (lose the money from the economy), debt grows to infinity. What effect does this have on wealth distribution ?

A) wealth is ditributed among working people.

B) it has no effect

C) most wealth is concentrated in the hands of a very few (1 in a million)

answer: c. That's what the system was designed and made for. As you can see, it works that way.

10. How can we help a proper system born ?

A) no solution

B) we apply for more loan

C) learn about it and teach others.

answer: c. When enough people understand the fraud, it is possible to change for the public benefit. If you are sceptic about the central change, good news is that information technology comes to the rescue. New, auditable money system is possible where debasement happens for public benefit. Information technology also helps the transition to bias from the fraudulent system to the auditable system, and allows them to coexist conveniently. Crypto technology empowers people so they can do this wether big-brother likes it or not. BB can make it a bit harder, but cannot prevent it.

11. What is the difference between private monetary monopoly and slavery ?

A) nothing

B) in the monetary monopoly there is no face-to-face relationship between slave and slavekeeper

answer: b. The identity of the slavekeeper is unobvious. But we don't need to know the present slavekeepers to free slaves (by changing the monetary and tax system).

12. Why does the media not teach modern money mechanics and its effects? It even spread false myths ! How is the media controlled ?

A) they are paid to spread the deceit

B) the people who can spread it most honestly and successfully are the ones who know it wrong themselves.

answer: b. Cleverly engineered memes are used to divert attention from the truth. Even if it's very simple on the base, very few people understand the system. People who get their information from unsuitable sources (TV) find it unlikely that such huge fraud is possible. To see it is, they could look at the law.

13. What is the likely outcome of this system if we don't force (or make ourselves, using crypto-technology) a money reform ?

A) freedom continues to grow :-)

B) debt grows without limits. Most (hundred millions) people lose their wealth to a very few (hundreds). So they lose all their influence on politics and even their own and family wellbeing.

answer: b. expect economy crashes, serious wars, poverty and environmental crisis. The money reform is not painless itself, but the only way to survive: to heal economy and society from the cancer, and get rid of this fraudulent private monetary monopoly.

14. Do you like to be forced to pay more and more taxes (national debt) and pay more and more for goods and services (the interest companies pay is built in consumer prices) and pay more and more yourself while losing your wealth ?

A) yes. Good luck, Mr. Gorski

B) NO !

answer: b. Learn about it. TALK ABOUT IT. If only every 10th person talks to 11 each, the knowledge about money can spread fast like an avalanche and people can finally wake up to get back control of information and their lives.

Throw away the myths and read about the facts. Don't rely on TV. Try to find counterproof from economy materials. They are cleverly worded to show the surface and hide the fraud, but you can still use them to verify the answers. If in slightest doubt, check the laws. Translate to other languages. The system is very similar worldwide (though, unlike USA, the central bank is rarely privately owned, most money is created by private banks the same way: on bank accounts, as debt)

You can bet with your friends they don't know money: while they learn about it for their benefit, they lose some beer to you.

Remember the problem is basically the same worldwide ! http://landru.i-link-2.net/monques/monques.html http://www.moneyreformparty.org.uk/ http://www.moneyasdebt.net/ very nice movie (get via torrent/e2dk/gnunet/... and donate the makers)

SEND THIS TO YOUR FRIENDS AND ENEMIES !