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2nd June 2009, 22:09 #1
Anyone ever watched Zeitgeist Addendum?
I was recomended to watch this by a friend while we were discussing the banking system namely- why payments take days to clear despite everything is done electronicaly.
Maybe its common knowledge among the more scholarly among you but I didnt quite expect these revelations..
It seems that the American banking system is based on a pyramid type scheme called 'fractional reserve', ie for every 10 billion borrowed from the Federal reserve for bonds only 10% has to be stored as deposits, leaving 9 billion to be used as further capital.. So in effect 9 times as much money can be created from this debt from what is essentially thin air. Perpetual wealth transfer and perpetual debt.
To discover more watch- http://video.google.com/videoplay?do...Bg&q=zeitgeist
I think Im in need of educating on the subject, Is this really how it works?
Im more worried about our future than ever before.
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