Goldman Sachs ' economic reservations
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Banks do not take $1000 and lend $9000.
Banks never lend their deposits.
Its the other way around, their deposits come from lending.
They just lend the $9k, from thin air, which then becomes someones deposit.
As a matter of reserve regulations the bank may have to borrow $1000 of reserves later at the fed funds or discount rate.
Fractional reserve accounting is really only relevant when the currency is backed by gold or other finite tangible substance, ie there are actually some reserves.
2 years ago 3
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I hope we are seeing the death of the entire global monetary system. We as a global society need to start acting in accordance with our great potential NOT for money, but because we know it is right.
2 years ago 3
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The term "tax payer" is ridiculous. We don't pay taxes, it's taken from us. So therefore, it's theft. Government+Goldman Sachs=Robbers. Period. Throw them all out.
Freemarketeer81 2 years ago 6
The parasite has feasted on the host so much the host died.
TiredOldFart 2 years ago 4