yep its ridiculous, but its such a devious scam that almost no one notices, or unless its just that no one cares.. here is another, more in-depth description of us banking and modern money mechanics. http://www.reallyneatstuffalaska.com/modern_money_mechanics
just wanted to add; you borrow a dollar from me, and i owe you a dollar. you borrow a dollar from the bank, and you owe the dollar, plus interest. i dont see how the country will ever stop inflating the money supply, when our money system is based on debt and inflation. you certainly cant correct inflation with more inflation.. in the 1930's, the Dollar was worth aprox 24 dollars by todays standard. basically, we will run this system until the US Dollar is worth 1/100th of a penny.
I don't think the problem is an increase in money supply (especially since there is an increase in population) or inflation, as much as an increase in money supply which is disproportionate to the production of material wealth. That is what causes an economy to be debt-based and therefore predatorial.
yea but inflation causes the value of the dollar to decrease, along with the national debt average. you are right though about the material wealth thing, idk how to put it in words right now though, im kinda baked :| well nvm, you said it well
i used to do that when I was younger. Except I'd charge like 75% interest..... .....my mother told me I'd do well in the irish mob, being irish, and crafty and such....I was probably 9 or 10.... ..... then when I turned 12 I was the next Jeffrey Dahmer....I'm not that bad
In case it hasn't already been said, the Federal Reserve banks are PRIVATE corporations that have nothing to do with the US government. So it's not federal, but it's also not a reserve since the money that is printed represents debt and is NOT backed by a commodity, gold or otherwise. It is a house of cards, and one that is about to soon topple.