volition on Nostr: ‘Fraudulent practice’ “It’s not a “reserve,” and it’s not ...
‘Fraudulent practice’
“It’s not a “reserve,” and it’s not “federal.” Although the Fed is a creature of the government, it’s not, technically speaking, part of it. It’s really controlled by the large banks, who benefit primarily through “fractional reserve” banking. In the past, when banks were just ordinary businesses that warehoused money and acted as brokers for loans made with savings, keeping a fractional reserve was a fraudulent practice that would eventually result in bankruptcy, followed by criminal charges. The creation of central banks, like the Fed, facilitated it as common practice; in effect, debt became a form of money.”
Excerpt From
Right on the Money
Doug Casey
This material may be protected by copyright.
“It’s not a “reserve,” and it’s not “federal.” Although the Fed is a creature of the government, it’s not, technically speaking, part of it. It’s really controlled by the large banks, who benefit primarily through “fractional reserve” banking. In the past, when banks were just ordinary businesses that warehoused money and acted as brokers for loans made with savings, keeping a fractional reserve was a fraudulent practice that would eventually result in bankruptcy, followed by criminal charges. The creation of central banks, like the Fed, facilitated it as common practice; in effect, debt became a form of money.”
Excerpt From
Right on the Money
Doug Casey
This material may be protected by copyright.