Forum Post: Do you know what fractional reserve banking is?
Posted 12 years ago on Sept. 28, 2012, 11:22 a.m. EST by TrevorMnemonic
(5827)
This content is user submitted and not an official statement
Do you know what fractional reserve banking is?
Dennis Kucinich - http://www.youtube.com/watch?v=kRVmpQcaM2w
The legislation he spoke of in the video - monetary reform - http://www.govtrack.us/congress/bills/112/hr2990/text
The ignoring of Kucinich by the rest of the democratic party is a dead give that the dems are just as bought and paid for as any other politician. They're all corrupt and any politician that points it out or blows the whistle gets blacklisted by their party and the political theater.
Yeah... Congress doesn't like getting called out for being the "board of Directors Meeting for Goldman Sachs."
Dennis is my hero
I think it is when the allow banks to lend as MUCH money as they have assets or collaterol for, but it doesn't need to be $1 for a $1 loan, it can be a FRACTION So if the banks have a penny they can lend a dollar.
But it got worse, they were allowed to lend $1000 if they have a penny of assets.
Worse yet, when that original loan is deposited in another bank and then that 2nd bank can use the penny to loan more money on, and it gets way extreme - see :"Ponzi Scheme" or pyramid scandal !!
Final word - I am thinking that in some round-about way NATURAL RESOURCES, like oil in the ground, is being counted as assets to loan money on. So, they are committed to drilling and producing that oil now, and thats why they deny global warming - just a thought - any comments on THAT??