posted on Nov, 6 2012 @ 07:04 PM
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.
I haven't said anything technical, It's all been stated in plain English. Your lack of a coherent counter-argument only makes my case all the
As I stated earlier, banks make money in dozens of different ways. They have their hands in every facet of the economy: from student loans, to
mortgages, to equipment financing, to sophisticated treasury fees for international wire transfers in foreign currencies, to credit card processing
and consumer credit cards, to fees earned from managing 401k plans, and on and on.
Banks have many, many multiple streams of income. They earn income on nearly every credit transaction in the country, and that revenue is then
reinvested in the bank's core business: lending. Banks earn fee income and interest income from a wide variety of banking products and services tied
to our economy.
Use a credit card? Have a car loan? Pay a mortgage? Paying for college with a student loan? Have a pension plan? If you do any of these things, I
can guarantee that there is a bank somewhere that is earning fee income from you.
To suggest that banks operate in a vacuum, or that they somehow magically "create money out of thin air" flies in the face of reality. Banks are
businesses. Period. They are some of the most ruthless businesspeople on the planet, and they touch practically every part of our economic life.
Every effort has been made by the Federal Reserve Board to conceal its powers,
Let's clear up some confusion. There is a massive difference between the Federal Reserve and a privately or publicly-held retail bank. There is
also a huge difference between a retail bank, such as Comerica, and an investment bank, like Goldman Sachs. Let's not lump everyone together.