Posted on: August 14, 2014 by Wallace Klinck

Category: Social Credit Views

A Conversation with a Loans Officer

Some time ago, I had the following conversation with a loans officer from a major Canadian bank:

 


Wally: When you issue these loans to borrowers you create the money out of nothing, don't you?

Banker: (with slight hesitation) Yes, that is true.

 

Wally: You do not actually take the money from anyone’s account?

Banker: No, we don’t.

 

Wally: And you say that you own the credit that you issue--correct?

Banker: Yes that is correct.

 

Wally: You must because you want it paid back.

Banker: Yes.

 

Wally: And you want interest paid on the outstanding principal--another claim of ownership. Right?

Banker: Yes, that is correct.

 

Wally: And furthermore, if we should ……………

Banker: (anticipating my next words) Yes, if you default on your loan we will foreclose on your assets.

 

Wally: Did you create those assets?

Banker: (perceptively at unease) No, we did not.

 

Wally: Do you return these foreclosed assets to the Community?

Banker: (visibly troubled and hesitating as having encountered a disturbing denouement) No, we do not.

 


On a subsequent encounter this same person asked me with obvious concern: “What can we to do about it?"

 

 

 


Post a Comment


Reload Image