How banks create money
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Uploader Comments (mikeydoggy)
Top Comments
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Certifiable... just look at his crazy eyes.
Put down the crack pipe Mike.
2 years ago 5
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What about in Zimbabwe? Their currency is dead. I can understand a scenario in which the country borrowed in a foreign currency, and they could not pay it back when their currency fell.
But can America be the same if foreigners want not to be paid back in USD, but in another currency?
All Comments (11)
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Here's how Money is created: watch?v=3uWCOvnOtTI
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They reason why USA is not experiencing high inflation right now,, is because the government is borrowing money from China and Japan... This will eventually change when China and Japan stops,, and the Federal Reserve buys US treasuries. INFLATION WILL SKY ROCKET...
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@mikeydoggy Why don't you tell your viewers that WE the people have the RIGHT to print our own money through OUR government? Why don't you tell your viewers that the "Federal" Reserve is a PRIVATE banking cartel that is in no way part of our government? You are either ignorant or lying on purpose. I'm glad you barely have viewers to see these lies. Too bad they can just turn on TV to see the same thing though...
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You have 240 hits...
Peter's Videos have tens of thousands...
Peter is God!!!!!
Think of your family Norman Bates.......
You are making an ass out of all of them....
Everything out of your mouth is wrong...please check out Peter's site so you can get up to speed of where the economy is.......
He ALWAYS has it spot on Bates!!!!
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Wrong. Even the Fed's website shows that Mike doesn't understand money creation. Mike, go back to high school and stop advising people how to spend their money. You will just lose them their life savings. Please read Peter Schiff's book so you can understand economics.
Peter Schiff owns you, and it drives you crazy.
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It is impossible to bankrupt a nation that spends in its own currency and where that currency is not backed by gold or subject to a fixed exchange rate. Christo, get out out of the dark ages, man! Do you still believe the earth is flat? There was another "christo" who proved that wrong over 500 years ago.
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God help us if we are relying on Bernanke and Obama to save the day. This dynamic duo of incompetence is bankrupting the US. They made sure they took care of the well connected and left us with the bill. You are going to feel the effects of what they did over the next few years. Your cost of living is going to go through the roof. Don't expect any easing of the UE for quite a while. This idea that the recession is going to end this year is absurd.
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I don't understand how they create their own reserves, and with the fractional reserve system, what happens to the money once the house is sold? The seller deposits what equity is left over into a bank, and their reserves go up too?
panther9mm 2 years ago
System reserves are not changed. The buyer's reserve acct at his bank is debited and the seller's reserve acct is credited. Reserves do not change.
mikeydoggy 2 years ago
The fractional reserve banking system is one of the major things people are so afraid of with the fed creating all this new money. The banking systems' ability to multiply all this new money creates inflation fears even in this terrible recession. I'm curious to know, do you support all the bailouts and socialization that Obama is doing? You are obviously a federal reserve cheerleader but what about the Obama socialization plan?
christo930 2 years ago
The Fed sets interest rates, that's it! Reserves are functionally one-day Treasury securities. What you call "money" is made in the banking system and is pretty much independent of interest rates. Case in point: "Money" was being created even when interest rates were 20% back in 1980-1981. Get over it!
mikeydoggy 2 years ago