Hi guys, did some research when i came back, thought you might be interested in knowing what our banking system is based on - "Fractional" Reserve Banking as opposed to "Full" Reserve Banking.
In 16th century England people who had gold would deposit it with goldsmiths for safekeeping. In exchange they got a signed receipt guaranteeing that they could retrieve it. The value assigned to that note backed by the gold in the goldsmith’s vault made it possible for one to use it in payment.
That means if A deposited £10 worth of gold and had in his possession a receipt, he could settle his debt with it. That receipt became money. The person who took it in payment could either use it as it is, or at some later point retrieve the gold in the goldsmith’s keeping.
At the same time B borrows £10 worth of gold from the goldsmith but receives a promissory note. He settles his debt to C with that note. Now there are two notes in circulation for one amount of gold. The goldsmith being smart realises that these notes can actually be in circulation for quite some time, several years even. He issues further notes knowing that it's highly unlikely that everyone would claim their gold at the same time.
According to contemporary economical calculations he can safely lend at least ten times the amount deposited. If there are two or more people who suddenly wish to retrieve their gold, he can also rely on the fact that he has debtors who owe him gold, although they originally received nothing but a piece of paper. They then have to pay him in gold, and should they default he could seize whatever possessions they had, sell these, buy gold and settle the claims. I might add that the goldsmith of course lent out promissory notes for non-existent gold at interest.
Today’s banks do the same.
Simply put, every loan given is a deposit. You go to the bank, ask for a loan of say $1000 and they open an account for you to that amount. If you ask for it in cash to settle a debt, someone else will eventually deposit that amount. You of course still owe your bank that money, which was created out of nothing the moment you opened your mouth. The money created is debt to which they add interest.
And that is Fractional Reserve Banking for you.
haha.
for further reading, check out gold standard on wikipedia, or investing in gold
ok v tired liao, going to sleep. gdnite everyone!
Saturday, May 5, 2007
Friday, May 4, 2007
Our Father loves us
Read a fren's blog and felt that what she posted was very encouraging and i felt very comforted reading what she abstracted from a Rick Warren book.
God has a purpose behind every problem.
He uses circumstances to develop our character. Jesus warned us that we would have problems in the world. Life is a series of problems. Every time you solve one, another is waiting to take its place. Not all of them are big, but all are significant in God's growth process for you.
Peter assures us that problems are normal, saying, "Don't be bewildered or surprised when you go through the fiery trials ahead, for his is no strange, unusual thing that is going to happen to you."
The Lord is close to the broken hearted, he rescues those who are crushed in spirit. Your most intimate time with the Lord will most likely be in your darkest day. When we are in pain, we don't have the energy for superficial prayers.
Joni Eareckson Tada notes: When life is rosy, we may slide by with knowing about Jesus, with imitating him and quoting him and speaking of him. But only in suffering will we know Jesus. We learn things about God in suffering that we can't learn any other way.
Problems force us to look to God and depend on him instead of ourselves. As Paul testified: We felt we were doomed to die and saw how powerless we were to help ourselves; but that was good, for then we put everything into the hands of God, who alone could save us."
Every of your circumstances are Father Filtered.
Six Unique Affairs
Not very edifying but quite hilarious.
The 1st Affair
A married man was having an affair with his secretary. One day they went to her place and made love all afternoon. Exhausted, they fell asleep and woke up at 8 PM. The man hurriedly dressed and told his lover to take his shoes outside and rub them in the grass and dirt. He put on his shoes and drove home.
"Where have you been?" his wife demanded. "I can't lie to you," he replied, "I'm having an affair with my secretary. We had sex all afternoon." She looked down at his shoes and said: "You lying bastard! You've been playing golf!"
The 2nd Affair
A middle-aged couple had two beautiful daughters but always talked about having a son. They decided to try one last time for the son they always wanted. The wife got pregnant and delivered a healthy baby boy.
The joyful father rushed to the nursery to see his new son. He was horrified at the ugliest child he had ever seen. He told his wife: "There's no way I can be the father of this baby. Look at the two beautiful daughters I fathered! Have you been fooling around behind my back?"
The wife smiled sweetly and replied: "Not this time!"
The 3rd Affair
A mortician was working late one night. He examined the body of Mr Schwartz, about to be cremated, and made a startling discovery. Schwartz had the largest private part he had ever seen!
"I'm sorry Mr. Schwartz," the mortician commented, "I can't allow you to be cremated with such an impressive private part. It must be saved for posterity." So, he removed it, stuffed it into his briefcase, and took it home. "I have something to show you won't believe," he said to his wife, opening his briefcase.
"My God!" the wife exclaimed, "Schwartz is dead!"
The 4th Affair
A woman was in bed with her lover when she heard her husband opening the front door. "Hurry," she said, "stand in the corner." She rubbed baby oil all over him, then dusted him with talcum powder. Don't move until I tell you, " she said, " pretend you're a statue." "
What's this?" the husband inquired as he entered the room. "Oh it's a statue," she replied, "the Smiths bought one and I liked it so I got one for us, too." No more was said, not even when they went to bed.
Around 2 AM the husband got up, went to the kitchen and returned with a sandwich and a beer. "Here," he said to the statue, have this. I stood like that for two days at the Smiths and nobody offered me a damned thing."
The 5th Affair
A man walked into a cafe, went to the bar and ordered a beer. "Certainly, Sir , that'll be one cent." One Cent?" the man exclaimed. He glanced at the menu and asked, "How muc h for a nice juicy steak and a bottle of wine?" "A nickel," the barman replied. "A nickel?" exclaimed the man.
"Where's the guy who owns this place?" The bartender replied: "Upstairs, with my wife." The man asked: "What's he doing upstairs with your wife?" The bartender replied: "The same thing I'm doing to his business down here."
The 6th Affair
Jake was dying. His wife sat at the bedside He looked up and said weakly, "I have something I must confess." "There's no need to, " his wife replied. "No," he insisted, "I want to die in peace. I slept with your sister, your best friend, her best friend, and your mother!"
"I know," she replied, " now just rest and let the poison work."
The 1st Affair
A married man was having an affair with his secretary. One day they went to her place and made love all afternoon. Exhausted, they fell asleep and woke up at 8 PM. The man hurriedly dressed and told his lover to take his shoes outside and rub them in the grass and dirt. He put on his shoes and drove home.
"Where have you been?" his wife demanded. "I can't lie to you," he replied, "I'm having an affair with my secretary. We had sex all afternoon." She looked down at his shoes and said: "You lying bastard! You've been playing golf!"
The 2nd Affair
A middle-aged couple had two beautiful daughters but always talked about having a son. They decided to try one last time for the son they always wanted. The wife got pregnant and delivered a healthy baby boy.
The joyful father rushed to the nursery to see his new son. He was horrified at the ugliest child he had ever seen. He told his wife: "There's no way I can be the father of this baby. Look at the two beautiful daughters I fathered! Have you been fooling around behind my back?"
The wife smiled sweetly and replied: "Not this time!"
The 3rd Affair
A mortician was working late one night. He examined the body of Mr Schwartz, about to be cremated, and made a startling discovery. Schwartz had the largest private part he had ever seen!
"I'm sorry Mr. Schwartz," the mortician commented, "I can't allow you to be cremated with such an impressive private part. It must be saved for posterity." So, he removed it, stuffed it into his briefcase, and took it home. "I have something to show you won't believe," he said to his wife, opening his briefcase.
"My God!" the wife exclaimed, "Schwartz is dead!"
The 4th Affair
A woman was in bed with her lover when she heard her husband opening the front door. "Hurry," she said, "stand in the corner." She rubbed baby oil all over him, then dusted him with talcum powder. Don't move until I tell you, " she said, " pretend you're a statue." "
What's this?" the husband inquired as he entered the room. "Oh it's a statue," she replied, "the Smiths bought one and I liked it so I got one for us, too." No more was said, not even when they went to bed.
Around 2 AM the husband got up, went to the kitchen and returned with a sandwich and a beer. "Here," he said to the statue, have this. I stood like that for two days at the Smiths and nobody offered me a damned thing."
The 5th Affair
A man walked into a cafe, went to the bar and ordered a beer. "Certainly, Sir , that'll be one cent." One Cent?" the man exclaimed. He glanced at the menu and asked, "How muc h for a nice juicy steak and a bottle of wine?" "A nickel," the barman replied. "A nickel?" exclaimed the man.
"Where's the guy who owns this place?" The bartender replied: "Upstairs, with my wife." The man asked: "What's he doing upstairs with your wife?" The bartender replied: "The same thing I'm doing to his business down here."
The 6th Affair
Jake was dying. His wife sat at the bedside He looked up and said weakly, "I have something I must confess." "There's no need to, " his wife replied. "No," he insisted, "I want to die in peace. I slept with your sister, your best friend, her best friend, and your mother!"
"I know," she replied, " now just rest and let the poison work."
Something to remember...
For the record.
Thanks guys. :) Y'all been great and very surprising! LOL
(A shot of Jo being interrogated by the gang)
Monday, April 30, 2007
Picture of Faith
hi guys
my photoshop skillz not so there yet... i doubt i'll get a job editing magazine covers haha (anyway i did this using GIMP) but God's word talks about visualisation and the power of faith pictures... so this is my faith picture!
my photoshop skillz not so there yet... i doubt i'll get a job editing magazine covers haha (anyway i did this using GIMP) but God's word talks about visualisation and the power of faith pictures... so this is my faith picture!
Mark 11:23
in line with what pastor was preaching on sunday about the simplicity of speaking...
Mar 11:23 For verily I say unto you, That whosoever shall SAY unto this mountain, Be thou removed, and be thou cast into the sea; and shall not doubt in his heart, but shall believe that those things which he SAITH shall come to pass; he shall have whatsoever he SAITH.
if you notice, in this passage of scripture, the word say or saith is mentioned 3 times, as compared to believe which is only mentioned once - personally i feel that the Lord is emphasizing the importance of SPEAKING out your authority and blessings!
Rom 10:8 But what saith it? The word is nigh thee, even in thy mouth, and in thy heart: that is, the word of faith, which we preach;
Rom 10:9 That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved.
Rom 10:10 For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.
your victory is first in your mouth, then in your heart =) by speaking out your faith, the revelation will drop into your heart, and your miracles will manifest. even people of the world know that...
=)
feeling faithless? feeling down? feeling out? speak out your salvation, speak out your blessings and speak out your victory! your tongue is the rudder that guides your ship to the gates of victory!
i call forth victory and i call forth success!!
Mar 11:23 For verily I say unto you, That whosoever shall SAY unto this mountain, Be thou removed, and be thou cast into the sea; and shall not doubt in his heart, but shall believe that those things which he SAITH shall come to pass; he shall have whatsoever he SAITH.
if you notice, in this passage of scripture, the word say or saith is mentioned 3 times, as compared to believe which is only mentioned once - personally i feel that the Lord is emphasizing the importance of SPEAKING out your authority and blessings!
Rom 10:8 But what saith it? The word is nigh thee, even in thy mouth, and in thy heart: that is, the word of faith, which we preach;
Rom 10:9 That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved.
Rom 10:10 For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.
your victory is first in your mouth, then in your heart =) by speaking out your faith, the revelation will drop into your heart, and your miracles will manifest. even people of the world know that...
=)
feeling faithless? feeling down? feeling out? speak out your salvation, speak out your blessings and speak out your victory! your tongue is the rudder that guides your ship to the gates of victory!
i call forth victory and i call forth success!!
Kelong Trip (an update)
Dear Kingdom Friends,
this is a follow up on the last blog that was sent a week ago.
I spoke with Eric on Thurs at supper about this kelong thing and *surprise surprise* he says his aunt also has a kelong and has a package like this for tourists like us.
The package is S$65, 2days 1night. This is inclusive of transport from Sgp to M'sia (Kukup), meals and drinks provided. The rooms are furnished with air-cons (I can see Daniel lifting his hands and thanking God) and it's cold type not like the ones at Seri Costa. But fishing is not popular as there aren't many fishes. If we don't wanna take up the transport thing we can drive/ bike up on our own. The package will be RM$75 instead.
It sounds good to me cos it's Eric's relative - we would help bring her biz and we also can enjoy "VIP" treatment. *heh heh*
What say you all?
this is a follow up on the last blog that was sent a week ago.
I spoke with Eric on Thurs at supper about this kelong thing and *surprise surprise* he says his aunt also has a kelong and has a package like this for tourists like us.
The package is S$65, 2days 1night. This is inclusive of transport from Sgp to M'sia (Kukup), meals and drinks provided. The rooms are furnished with air-cons (I can see Daniel lifting his hands and thanking God) and it's cold type not like the ones at Seri Costa. But fishing is not popular as there aren't many fishes. If we don't wanna take up the transport thing we can drive/ bike up on our own. The package will be RM$75 instead.
It sounds good to me cos it's Eric's relative - we would help bring her biz and we also can enjoy "VIP" treatment. *heh heh*
What say you all?
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