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Originally posted by Kaone
I dont know much about banking, but lets say my country has $10 million and I split that between all the citizens for work they do, food production, housing, transportation and all.
So now there is $10 mill in circulation, people can either trade or use the legal tender. I do not understand why that amount would increase over time.
The actual process of money creation takes place primarily in banks ... bankers discovered that they could make loans merely by giving their promise to pay, or bank notes, to borrowers. In this way banks began to create money. Transaction deposits are the modern counterpart of bank notes. It was a small step from printing notes to making book entries crediting deposits of borrowers, which the borrowers in turn could ‘spend’ by writing checks, thereby ‘printing’ their own money. – Modern Money Mechanics, Federal Reserve Bank of Chicago
All problems, depressions, wars, disasters, assassinations – ALL of them were planned, caused, instigated, and implemented by the International Banksters and their attempt to establish a central bank in every country in the world, which they have now done, thanks to corrupt politicians who have been bought and paid for. This is all you need to know about the history of the world. John Fitzgerald Kennedy, who issued silver certificates, and Abraham Lincoln, who issued treasury notes (greenbacks), were the only men who actively intended to stop them. Both were assassinated by the Banksters. Garfield and McKinley talked about stopping them. Both were assassinated by the Banksters.
I have unwittingly ruined my country. – W. Wilson, upon passage of Federal Reserve Act, 1913
When Albert Einstein was asked what was the most fantastic thing he ever realized in all his studies, he responded, “Compound interest.”
Every effort has been made by the Federal Reserve Board to conceal its powers, but the truth is ... the Fed (Federal Reserve System) has usurped the government. It controls everything here (congress) and it controls all our foreign relations. It makes and breaks governments at will. – Louis McFadden, ex- Chairman of the House Committee on Banking and Currency
You are the one actually living in fantasy land. Justify it with all the technical babble you want, it wont change the facts. We are done here.
Every effort has been made by the Federal Reserve Board to conceal its powers,
Originally posted by tinfoilman
reply to post by Semicollegiate
The market does have an influence but our current system was set up with the idea that there should be some central control for certain situations. Like when the market crashes and so forth. Then they can try fix it by lowering interest rates and so forth. Like they're doing now.
I know your opinion is the opposite. But not everyone shares that opinion.
Originally posted by ChaoticOrder
reply to post by macaronicaesar
Well what he/she is saying about businesses lending to each other is generally true. However, that poster clearly doesn't understand that banks are different, because they operate under fractional reserve laws, meaning they can loan out much more money than what they actually have - no other company can do that. Fractional reserve banking is only accepted and practiced because if they didn't do it, it would be extremely hard to get a loan. The easy credit helps new businesses get started, but it's also completely unfair if the banks can do that.