How can any bank be solvent if they all practice fractional reserve lending?
Fractional reserve lending is a gigantic confidence trick that allows banks across the globe to create money out of thin air and charge interest on it. Charging interest on money created out of nothing is a crime known as usury. Incredibly, governments permit it without question and a compliant judiciary accommodates banking fraud in the courts every day of the week.
It's good to be a bank. We've agreed (as voting citizens) to give them special privileges in return for providing a service to us all, and being subject to our rules and overview. In return, they can make a lot of money.
The funny thing is, they are not subject to our rules and overview (the Fed is a perfect example). Governments love fractional reserve banking and especially fiat currency. They allow them to run up huge deficits and pass the costs on to us via inflation. I wouldn't exactly call that a "service".
by SparklingJewel6 years ago
Blame the Fed for the Financial Crisis ... The Fed fails to grasp that an interest rate is a price, the price of time. Attempting to manipulate that price is as destructive as any other government price control. To know...
by Sam15 months ago
Will our debt based, fractional reserve banking economy collapse?What do you think? If it will collapse, when(within a decade)?
by Gary Anderson8 years ago
This guy is or was high up in the Fed. The fed is a PRIVATE bank, despite the lie on their website. The fed is owned by private stock and the US government owns none of that private stock. ...
by Gary Anderson6 years ago
I bet you didn't know, with the way the banksters treat you, that when you deposit to the bank, it is a LOAN to that bank.You need more respect, after all, they are the borrowers!!!
by GA Anderson3 years ago
Here is what the Federal Reserve describes as its charter:" The Federal Reserve System, often referred to as the Federal Reserve or simply "the Fed," is the central bank of the United States. It was...
by Wesman Todd Shaw6 years ago
It's all so simple, really, and a wicked man stated long, long ago that it never mattered who a king was - so long as he controlled the currency - he was lord and master.http://auditthefedphonebomb.com/bailout …...
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