Baarda.ch

Goodday. Baarda.ch is the place where people can follow the man: Jelger Baarda. That’s me. And I like to be honest. I smoke tobacco and cannabis sometimes, and sometimes I do some ‘space exploration’ with 1P-LSD. That’s a research chemical that’s legally available where I live (The Kingdom of the Netherlands).

Today’s update video:

1. We believe that the Scriptures of the Old and New Testaments were given by inspiration of God; and that they only constitute the Divine rule of Christian faith and practice.
2. We believe that there is only one God, who is infinitely perfect, the Creator, Preserver, and Governor of all things, and who is the only proper object of religious worship.
3. We believe that there are three persons in the Godhead – the Father, the Son and the Holy Ghost – undivided in essence and co-equal in power and glory.
4. We believe that in the person of Jesus Christ, the Divine and human natures are united, so that He is truly and properly God and truly and properly man.
5. We believe that our first parents were created in a state of innocency, but by their disobedience, they lost their purity and happiness; and that in consequence of their fall all men have become sinners, totally depraved, and as such are justly exposed to the wrath of God.
6. We believe that the Lord Jesus Christ has, by His suffering and death, made an atonement for the whole world so that whosoever believes in him will not perish but have eternal life.
7. We believe that repentance towards God, faith in our Lord Jesus Christ and regeneration by the Holy Spirit are necessary to salvation.
8. We believe that we are justified by grace, through faith in our Lord Jesus Christ; and that he that believeth hath the witness in himself.
9. We believe that continuance in a state of salvation depends upon continued obedient faith in Christ.
10. We believe that it is the privilege of all believers to be wholly sanctified, and that their whole spirit and soul and body may be preserved blameless unto the coming of our Lord Jesus Christ.
11. We believe in the immortality of the soul; in the resurrection of the body; in the general judgment at the end of the world; in the eternal happiness of the righteous; and in the endless punishment of the wicked.

That is actually not how I expected things to work.

This is from the International Monetary Fund (this page):

Creating money

Banks also create money. They do this because they must hold on reserve, and not lend out, some portion of their deposits—either in cash or in securities that can be quickly converted to cash. The amount of those reserves depends both on the bank’s assessment of its depositors’ need for cash and on the requirements of bank regulators, typically the central bank—a government institution that is at the center of a country’s monetary and banking system. Banks keep those required reserves on deposit with central banks, such as the U.S. Federal Reserve, the Bank of Japan, and the European Central Bank. Banks create money when they lend the rest of the money depositors give them. This money can be used to purchase goods and services and can find its way back into the banking system as a deposit in another bank, which then can lend a fraction of it. The process of relending can repeat itself a number of times in a phenomenon called the multiplier effect. The size of the multiplier—the amount of money created from an initial deposit—depends on the amount of money banks must keep on reserve.

Banks also lend and recycle excess money within the financial system and create, distribute, and trade securities.

Banks have several ways of making money besides pocketing the difference (or spread) between the interest they pay on deposits and borrowed money and the interest they collect from borrowers or securities they hold. They can earn money from

•income from securities they trade; and

•fees for customer services, such as checking accounts, financial and investment banking, loan servicing, and the origination, distribution, and sale of other financial products, such as insurance and mutual funds.

Banks earn on average between 1 and 2 percent of their assets (loans and securities). This is commonly referred to as a bank’s return on assets.