Forum Post: More thin air
Posted 13 years ago on Oct. 11, 2011, 11:41 p.m. EST by Keepitsimple
(110)
This content is user submitted and not an official statement
Can anyone explain this: If the banks create money out of thin air for a new mortgage, why are the banks in deep trouble with mortgage defaults? Another question: If the FED creates money (supposedly our debt) out of thin air, let them have the air back. The money is/was NOT backed by gold or resources. The dollar bill just states it is legal tender. nothing more. If it is really just a ledger entry in their big system, there is absolutely nothing to pay back. We, the people owe the FED nothing.
You said it...#OWS is an exercise in reframing the situation. we have let corps. create our reality(our own laziness) they fucked up now we take it back....unfortunately it will be a lot of work and people are lazy....