redshift Posted February 9, 2009 Share Posted February 9, 2009 This video traces the history of how the goldsmiths of old gradually got into the business of loaning money, and eventually even creating it. This practice led to the use of "fractionalized reserves," in which money is created by the Federal Reserve (a private, profit-based company...not "Federal" at all) as it is loaned to banks, and multiplied by a factor of 10 as they loan it out. This is a "debt-based" system of creating the money supply for a country, and loaded with dangers! Much better than this debt-based "Federal Reserve Note" money system is the "United States Note" money system, which involves printing our own money (in limited amounts, of course). There's a 3hr video on video.google.com...just search for it there... Quote Link to comment
carlitos88 Posted May 30, 2009 Share Posted May 30, 2009 This video traces the history of how the goldsmiths of old gradually got into the business of loaning money, and eventually even creating it. This practice led to the use of "fractionalized reserves," in which money is created by the Federal Reserve (a private, profit-based company...not "Federal" at all) as it is loaned to banks, and multiplied by a factor of 10 as they loan it out. This is a "debt-based" system of creating the money supply for a country, and loaded with dangers! Much better than this debt-based "Federal Reserve Note" money system is the "United States Note" money system, which involves printing our own money (in limited amounts, of course). There's a 3hr video on video.google.com...just search for it there... =-=-=-=-=-=-=-=-= I'm putting up a national mega-event this december/09, a gathering of 8k-12k members will converge in central luzon. Proceeds of the event will help street children and scholarschip funds. Need a partner for a 500k seed money. ilyong5@yahoo.com ilyong5@hotmail.com Quote Link to comment
LYCHEE Posted June 30, 2009 Share Posted June 30, 2009 150 yrs. behind bars for american "money master" 71 yo bernard madoff for large-scale fraud Quote Link to comment
Warlocke05 Posted November 22, 2009 Share Posted November 22, 2009 This video traces the history of how the goldsmiths of old gradually got into the business of loaning money, and eventually even creating it. This practice led to the use of "fractionalized reserves," in which money is created by the Federal Reserve (a private, profit-based company...not "Federal" at all) as it is loaned to banks, and multiplied by a factor of 10 as they loan it out. This is a "debt-based" system of creating the money supply for a country, and loaded with dangers! Much better than this debt-based "Federal Reserve Note" money system is the "United States Note" money system, which involves printing our own money (in limited amounts, of course). There's a 3hr video on video.google.com...just search for it there... I've watched this although I was interested in the Philippine setting...is it the same? Anybody know how our own Central Bank works? Quote Link to comment
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