Forum Post: Monopoly Money - Fractional Reserve Banking
Posted 13 years ago on Oct. 11, 2011, 12:13 a.m. EST by boxertoby
(27)
from Nutley, NJ
This content is user submitted and not an official statement
These banks are so rich and powerful because of fractional reserve banking. They don't even have actual money. They have theoretical money. They create money out of thin air. This isn't my opinion, look it up for yourselves.
fractional reserve banking among other things. Banks AND courts create money out of thin air, theoretical money. Credits and debits that all it is.
A solution to look at
www.energybackedmoney.com/
Money reserve on Energy
All money needs government to exist, not just so called "fiat currency".
Not so
You could say that Fractional Reserve banking is fraud. But if everybody knows about the mechanism, and if people still want to except this thin-air money, then it's their choice. The main problem is that you aren't really allowed to compete with this kind of money. It is legal tender and you are being forced to pay your taxes with it.
I guess we should have no reserve banking.
This is kind of a really, really, really, really, really, really, really, really, really, really, really, really, really, really, really, really, (really x100) watered down version of ABCT, no? The level of watered-downedness is concerning...
Do you really know what you are talking about?
Of course I know what I'm talking about, I'm the person who invented fractional reserve banking.
Ha Ha, thanks, then.
• Money multiplier and velocity of money. I see these terms used incorrectly all of the time. Money multiplies because every time someone makes a $100 deposit at the bank (surplus cash in the economy), the bank deposits the required 10% reserve at the Fed and reallocates the remaining $90 surplus to loans to people and businesses. The $90 ends up at another bank after it is spent by the people/business and that bank is now required to make a 10%, or $9, deposit at the Fed and free to make an $81 loan. This goes on until there is no more money left to loan. The end result with a 10% reserve requirement, $900 is created in the economy and $100 is held at the Fed.
Never voted to raise taxes.
Never taken a congressional junket.
Doesnt take the Congress pension.
Never voted for an unbalanced budget.
The Solution can be found in a man of unwaivering consistency for over 30 years!
http://youtu.be/BeHHq8s6V7U
100% behind you. He gets very little media coverage too, because he is the anti-status quo. I'm hoping there's an explosion of votes for him come primary time.
This is exactly right - they also benefit as the FED creates money, and they are close to the money at the point of creation. Everyone else then suffers from monetary inflation.
END THE FED.
Ron Paul 2012.
Abolish the Federal Reserve Act. In No way should a Privately Owned Institution such as "The Federal Reserve" be a Central Bank for the United States. They are not audited and their books are sealed. Trillions of Dollars are unaccounted for through this private entity.
Research on "How the Federal Reserve Act" was passed. Research on WHO owns the Federal Reserve - then you would see - THAT is where everyone should be marching to! GET to the "Root" of the vast majority of the United States problems. Abolish the Federal Reserve Act. Create a United States Central Bank - a non profit entity who's books are open to the public and currency is backed by the gold standard.
It's amazing how many people buy into this rubbish. The Fed is not privately owned. If they're "not audited' and their "books are sealed" then how did you find out that Trillions of Dollars are unaccounted for. The gold standard was abandoned 80 years ago. That ship has sailed.
see Zeitgeist on you-tube about debt-creating...