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General Category >> Politics, Religion (Tall Table) >> Ford was an idiot
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Message started by justin_o_guy2 on 10/31/16 at 12:18:36

Title: Ford was an idiot
Post by justin_o_guy2 on 10/31/16 at 12:18:36

[W]hen a bank makes a loan, it simply adds to the borrower’s deposit account in the bank by the amount of the loan. This money is not taken from anyone else’s deposit; it was not previously paid in to the bank by anyone. It’s new money, created by the bank for the use of the borrower.” Robert B. Anderson, quoted in U.S. News & World Report, “How Much Will Your Dollar Buy – Interview with Secretary of the Treasury Robert B. Anderson,” August 31, 1959, pp. 68–69.

Title: Re: Ford was an idiot
Post by verslagen1 on 10/31/16 at 13:46:21

Not that I'm a financial wiz... but I don't believe that's entirely true.
The bank has to have reserves in order to lend it because most often that money leaves the bank very soon.
This is the reason for CD's vs plain deposits.
So, no, not true, it's money lent to the bank by depositors who in turn get interest for their deposit.

Unfortunately, this is true concerning the fed operations with the us government.

Title: Re: Ford was an idiot
Post by justin_o_guy2 on 11/02/16 at 04:02:03

I guess the Sec. Treasury was wrong.

It’s new money, created by the bank for the use of the borrower.”

I know it doesn't jibe with what a Reasonable Mind would believe. That's why I'm so adamant about people reading Creature from Jekyll Island.
All of it gets explained.

You might be able to find a video by G. Edward Griffin about what he calls
The Mandrake Mechanism

Yes, banks have reserves, what% of deposits is required, IDK, it's not above 10,

How the system Really Works, were it actually understood by the masses would surely end in outright rebellion.
The people have no idea how they are being bled dry.
That's WHY Ford said what he said..

Title: Re: Ford was an idiot
Post by Kris01 on 11/03/16 at 18:59:46

Think about how a check works. It's a promise of money. It's not actual currency. It's all numbers on someone's computer these days. If everyone went to their bank and closed every account, the bank couldn't pay it. They don't keep the total sum of their customers accounts in their vaults.

Title: Re: Ford was an idiot
Post by justin_o_guy2 on 11/03/16 at 19:13:25

Bank run....