But the way I understand it is that banks can create even more money on top of what the federal reserve bank counterfeits. From what I have read, banks can loan out 9 times as much as is deposited by the fed. Possibly smaller banks have their turn with the Clinton big lend laws and multiply it again, not sure how it all works.
Another thing I was led to understand is that the money the banks conterfeit can only be created for "loans". Credit cards are a means of loaning. No wonder there are so many credit card offers when the banks can simply create 90% of the money they loan out of nowhere and collect real labor or property plus interest on it...
Yes, is a mess. A complete and utter mess destined for disaster. Greed and corruption have plagued to a point of no return.
Wouldn't doing most of a person's spending on credit cards if you have them be a way to speed the process along and bring their whole charade to a close? Even if you pay them off right away to avoid interest, it did create more money.