Forum Post: Fractional Reserve Banking: The disease.
Posted 13 years ago on Oct. 8, 2011, 11:53 p.m. EST by KrookedSaint
(2)
from Richmond, BC
This content is user submitted and not an official statement
A system by which money is created through debt by private banks. A system where banks loan out money that does not exist, backed by nothing, and receive in return compounded interest from those entrusted with the loan. (backed by hard work)
It's much more complicated than my simple explanation above, and it deserves much research and debate by all citizens concerned with sound money, and monetary reform.
There's information out there on Wikipedia. But I fear it's definition is lengthy and technical. For those of you who absorb information through videos, there are some on youtube. Just search for Fractional Reserve Banking...
This is the kingpin issue, in my opinion. Many of the problems that the Occupy movement are concerned with are actually symptoms of the disease that is Fractional Reserve Banking.
If this system can be phased out, there is a brighter future for all of us, and our children too. :)
Look into it.... Seriously you guys. :)
Love Canada.
Wake two more people up. Get them to watch "money as debt" for free online. Then tell them to wake two people up. And so on, and so on.
In a matter of weeks we will have our revolution, all without violating anyone's property rights or turning our system into a fuckin Gulag, which is about half of what I see proposed out of this movement.
the solution.
http://youtu.be/Ka1ym7S3F3w
http://rpflix.com/2108
Nassim Taleb - 'The Banks Have Hijacked the Government'
http://youtu.be/WkT8dFA1xNE
http://www.youtube.com/watch?v=nH2-37rTA8U
Right on! I learned about fractional reserve banking last week and was astounded!! I agree that it's one big section of the problem, perhaps at the heart of it. The Federal Reserve and this system must be changed, but how in the hell will that happen?? Even if we demand it, the Fed is a separate entity from government and will obviously refuse. They even refuse an audit, and since it began in 1913, has NEVER complied to an audit...let alone an entire reformation. It boggles my mind how much power they have. Geez, they scoff and laugh at us peons demanding such a thing. Any ideas?