[Tfug] OT A word of thanks

[Joshua Zeidner]

On Sun, Oct 19, 2008 at 1:39 PM, Ronald Sutherland
<ronald.sutherland at gmail.com> wrote:
> On Sun, Oct 19, 2008 at 1:00 AM, eric christian <ericdanc at alice-dsl.net> wrote:
>>>
>>> http://www.youtube.com/view_play_list?p=3587FBAAFC96D235
>>>
>> This docu is flawed. It states that the FED creates only money (debt) for
>> the principle and not for the interest. This is not true. The money for the
>> interest comes from the 16th amendment (fed income tax). The 16th amendment,
>> howevr, was never approved by 3/4 of the states. This same flaw can be found
>> in "Zeitgeist" docus. EC
>>
> It seems amazing the that money to pay for land (or what ever) is
> created only on the promise that I will pay it back, I guess the new
> money exist during the time when the bank pays for the land and when I
> finally pay it off. I don't understand about the interest part of
> money creation, but then I'm still struggling with the principle side,
> which almost seems to make sense and then that the same time doesn't.
>
> It looks like my house in Tucson is about to sale, thank goodness, I
> got it before the big bad bubble, and will not lose money.

  perhaps nominally, but did you factor in inflation?

  -jmz

> I plan on
> paying off my travel trailer loan first to get myself free and clear.
> A few years after getting my house, I got a tuck and the combined
> payments required all my income for 5 years, I will never let that
> happen again. The stress of payments and loss of job aged me well
> beyond my years, I can almost feel the years that I lost now slowly
> returning.
>
> If I have enough cash to get some land I may do that, but I will not
> go into debt for it. If I do get some land its going to get set up
> more or less as a Permaculture site before I build any structures on
> it, then perhaps I'll build a hobbit habitat, sized for a wizard.
>
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