Comments on: Talk in Dublin – UPDATE https://www.golemxiv.co.uk/2011/10/talk-in-dublin/ Author of THE DEBT GENERATION Thu, 06 May 2021 15:02:16 +0000 hourly 1 https://wordpress.org/?v=6.7.1 By: Eoin https://www.golemxiv.co.uk/2011/10/talk-in-dublin/#comment-7155 Wed, 26 Oct 2011 20:51:52 +0000 http://www.golemxiv.co.uk/?p=788#comment-7155 Hi david,
thanks for an inforamtive talk at occupy dame street.
I asked you to clarify the meaning of the term fractional reserve banking as there are 2 different versions i commonly hear.
when you explained i heard shades of both.
As far as i can see one version is the truth and the other is a misunderstanding.
I asked the question because i wanted hear you explain the truth.

i will use 10% reserve minimum in this example

senario 1.
I deposit €100 in bank A.
bank A can keep 10 and lend out 90.
the 90 loaned out is deposited in bank B, they keep 9 and lend out 81.
the 81 loaned out is deposited in bank C, they keep 8.1 and loan out 72.9
etc etc.

senario 2.
I deposit €100 in bank X.
bank X loans out 1000.
the 1000 loaned out is deposited in bank Y.
bank Y loans out 10,000.
the 10,000 is deposited in bank Z.
etc.

some basic maths show the effects on the money supply:

senario 1.
after 10 steps – €651 (551 has been created out of nothing)
after 100 steps €999.97 (899.97 has been created out of nothing)
after an infinate amout of steps – €1,000. (900 has been created out of nothing)

senario 2.
after 10 steps – €111,111,111,100.
after 100 steps €111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111111100.

Do you agree that senario 1 is the actual situation and not senario 2? Or am i making some stupid mistake here?

Thanks for the help,
Eoin

]]> By: Al coughlan https://www.golemxiv.co.uk/2011/10/talk-in-dublin/#comment-6966 Sat, 22 Oct 2011 23:27:24 +0000 http://www.golemxiv.co.uk/?p=788#comment-6966 Fantastic talk last night David. There was a palpable sense of tension in the room at one point where a few people seemed to think you were criticising Ireland. I was surprised to be honest but was glad to see things calm down.
I first got to know you from the documentary ‘dangerous knowledge’ and happened to look up your name to see what other films you’d made and noticed you had written about the financial crisis, an issue to which I was somewhat ignorant bar my viewing of Michael Moore’s ‘Capitalism: a love story’.
I’m grateful for your effort and ability to have delivered in simple chapter and verse, exactly how this particular crisis came about. I count it as priceless knowledge to possess. . Too many people are still (through no real fault of their own) too ignorant of the truth.

]]> By: StevieFinn https://www.golemxiv.co.uk/2011/10/talk-in-dublin/#comment-6812 Wed, 19 Oct 2011 16:04:43 +0000 http://www.golemxiv.co.uk/?p=788#comment-6812 @ Golem

I have sent you an email, unfortunately I have to come down tommorrow, can’t make the weekend.

]]> By: Paul O'Brien https://www.golemxiv.co.uk/2011/10/talk-in-dublin/#comment-6677 Sun, 16 Oct 2011 22:13:18 +0000 http://www.golemxiv.co.uk/?p=788#comment-6677 Hi David,

When Seanan ran the idea past me I put him in touch with a couple of people in GradCam (Graduate School of Creative Arts and Media) who facilitated the organisation of the event. The word is out on Facebook so I hope there will be a good attendance! BTW, while in Dublin you should check out the Occupy Dame Street camp which is just down the road from where you will be speaking, about 15 mins walk away. I’m sure they would be glad to meet you.

All the best,

Paul

]]> By: Golem XIV https://www.golemxiv.co.uk/2011/10/talk-in-dublin/#comment-6572 Fri, 14 Oct 2011 10:31:25 +0000 http://www.golemxiv.co.uk/?p=788#comment-6572 Mike,

I’ve been trying to send you an email but it gets bounced. Could you perhaps send me an email to golemxivg@gmail.com? Or to malone@i330.demon.co.uk Then I can send my email to you.

I would be very happy to talk to them if they thought I was an appropriate person.

]]> By: Mike Hall https://www.golemxiv.co.uk/2011/10/talk-in-dublin/#comment-6571 Fri, 14 Oct 2011 10:25:20 +0000 http://www.golemxiv.co.uk/?p=788#comment-6571 Golem

One of the 2nd Republic supporters has been in contact with me (don’t know why he didn’t contact you directly) who is involved in the Dublin ‘Occupy Dame Street’ protest.

Is it possible you could give their group a talk whilst you’re in Dublin?

If so, he’s given me a mobile phone no. to contact him. What’s the best way to pass his details on to you?

]]> By: Mike Hall https://www.golemxiv.co.uk/2011/10/talk-in-dublin/#comment-6563 Fri, 14 Oct 2011 00:51:27 +0000 http://www.golemxiv.co.uk/?p=788#comment-6563 Details now sent to the ‘2nd Republic’ campaign list. Interest already expressed.

I may not make it unfortunately, financially constrained I’m afraid.

]]> By: shellshock https://www.golemxiv.co.uk/2011/10/talk-in-dublin/#comment-6428 Tue, 11 Oct 2011 19:05:40 +0000 http://www.golemxiv.co.uk/?p=788#comment-6428 hey golem, been a fan of yours on CIf, I hope to make it, will check back here for update.

]]> By: Sublime1 https://www.golemxiv.co.uk/2011/10/talk-in-dublin/#comment-6128 Wed, 05 Oct 2011 13:40:08 +0000 http://www.golemxiv.co.uk/?p=788#comment-6128 Great stuff. Make sure you post a link for a Facebook event.

]]> By: richard in norway https://www.golemxiv.co.uk/2011/10/talk-in-dublin/#comment-6057 Mon, 03 Oct 2011 23:45:19 +0000 http://www.golemxiv.co.uk/?p=788#comment-6057 In reply to Richard.

Good link thanks

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