That's right, banks create money out of thin air by creating debt.
Most money is debt-based.
So, banks loan out money that doesn't exist. Then the banks create a crisis, and then we can't repay the non-existent mony, and then we are asked to foreclose our house, which is something of real value and voila, the bank has become richer, again.
It is legalised theft.
and we, the people, stand for it???
That's right, banks create money out of thin air by creating debt.
Most money is debt-based.
So, banks loan out money that doesn't exist. Then the banks create a crisis, and then we can't repay the non-existent mony, and then we are asked to foreclose our house, which is something of real value and voila, the bank has become richer, again.
It is legalised theft.
and we, the people, stand for it???
That's right, banks create money out of thin air by creating debt.
Most money is debt-based.
So, banks loan out money that doesn't exist. Then the banks create a crisis, and then we can't repay the non-existent mony, and then we are asked to foreclose our house, which is something of real value and voila, the bank has become richer, again.
It is legalised theft.
and we, the people, stand for it???
That's not 'completely' true. There is a federal reserve requirement of a reserve amount. currently 10%. So if a bank loaned you 10k dollars they would have to hold in reserve 1k when they did so. so most of it is just created but there is at least some grounding if reality.
Seems completely fine.
Is paper gold certificates not a form of money? There are more certificates than actual physical gold.
What about hypothecation of gold or bonds?
What about derivatives?
Banks and brokerage houses have money trees but they only grow in Gated Communities and Upper Class streets.
Calm
they are all illusions.
yeaj fractional reserver banking, I know. Even that is ridiculous!
Guess who made that law possible?
Bankers would be my guess
yep! That is exactly right. Done in 1913 on Jekkyl Island, when most people were away for Christmas.
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