Fractional Reserve BankingSubmitted by DFarrell on Thu, 08/23/2012 - 00:06
I happened upon this...
I bring this up (a small number of families holding all the wealth) with my family and all but one economist is dismissive... Actually after a while my parents just started to patronize me.
And the one economist says "don't tell anyone I agree" and went went deep into the subject with me. Then "This conversation never happened."
Weird. Why do those who understand banking and/or economics have to hide in the shadows for the most part. Some people definitely don't. But the subject seems to be taboo for no good reason. It seems people who talk about the subject are marginalized or thought of as kooks.
This video is old but it's really good.
I've gotten into heated debates about fiat money and how even our original US central banks were pretty much just as bad as the FED.
But it's a very simple subject. A small number of bloodlines were the first to gather wealth grew their bloodlines to maintain that wealth. They can then institute whatever they want.
They start banks which start central banks (someone correct me, not quite right) and they lend money to the banks and the public puts their money into banks who loan it out again via fractional reserve banking. It's a very simple idea. If I'd have been born back then and had a thirst for money I would have done it.
Like I tell people "follow the money."
I had a neighbor bent on learning about money so I gave him some info on FRB and some info on Austrian Economics. Then one night I told him to follow the money and he said he didn't want to because he knew where it led.
Most people don't want to accept that FIAT notes and money is a sham for the most part. Only when promissory notes are exchanged I think economics works but I could be wrong. I'm not very knowledgeable in economics but I don't think one needs to be incredibly knowledgeable to understand FIAT money and Fractional Reserve Banking is a ticking time bomb.
If anyone can educate me more or debate I'm open. I've only scratched the surface. I'm all ears.
I'd like some input.