RE: The Federal Reserve: A Bankster's Wet Dream
Great discussion! Upvoted, followed, resteemed (sorry I'm a bit late!)
A couple comments :)
Lincoln was assassinated because he murdered 675,000 of his countrymen in the name of freedom.
I realize this isn't central to your discussion, but I would like to point out that some law theorists contend that Lincoln was assassinated so that he could not end the period of martial law he declared on 09/15/1863. Under the rules of martial law, only the individual who declared it can end it. Lincoln was assassinated because he was about to end martial law because the war was over, and the deep state did not wish this to happen. Under this framework, we are still under Lincoln's martial law today, though the government prefers not to tout that fact lest it be disputed and defeated. Instead, they operate as though we are under martial law, but use other (perhaps weaker) excuses for why they have the authority to do unlawful things. Everyone can bicker about the overt excuse, and the highest courts quietly sit by knowing the real justification, which goes uncontested.
Of course, any sane person will note that this is silly: obviously we can't still be in martial law just because of some technicality! But that's not how law works. Law will allow anyone to get away with anything, no matter how silly or absurd, as long as no one challenges it. It's only if it gets challenged that it can be overturned. Until then, it's fair game.
In other words, if the bank is only required to have 10% on hand, it can lend out $9.00 on every $10.00 it takes in.
Something that should be emphasized about this process: the $9 that is lent out probably gets deposited in someone else's account at a different bank (this difference is only for show; all banks in the US are branches of the Federal Reserve. Because the Fed makes up such absurd fantasy-land rules for money, no one else can compete. This was one of the primary design goals of The Federal Reserve Act), and that $9 deposit becomes cash on hand for that bank to then lend out another $8.10, which then gets deposited somewhere and another $7.29 is lent out... You see how this works? And all of these banks consider those deposits as assets on their books, thus at each step, new dollars are created rather than lending out old ones. This system is massively inflationary, but the Fed doesn't call it inflation, because they don't want to admit what the real rates of inflation are. The numbers you see on the rate of inflation of the dollar are a gross misrepresentation of reality; it's actually far, far worse.
European banks began turning in their American currency for gold and for every ounce that went out...we lost $90.00. So, President Nixon took us off the gold standard- temporarily! This was the break the Fed was looking for.
It might be tempting to think these European banks are meaningfully distinct from the Fed, but this is not the case. Although they're all private banks with closed books, and we don't know for sure who their stakeholders and shotcallers are, we do know with reasonable certainty that all of the world's central banks are controlled by the same collusive group of people (the Rothschilds, who own those European banks, had representatives at the Jekyll Island meeting, provided seed capital for the Fed, etc). This was a concerted and carefully planned move to force the US do untether the dollar from gold, which the people who originally conceived the Fed in the Jekyll Island meeting had wanted to do from the beginning, but couldn't because they knew it would be too much too soon and the people would've rejected their bill.
It took 63 years, but they got their way in the end. Think about that. Do not underestimate these people; our adversaries are well disciplined and extremely patient.
Very good point (s) I wrote this primarily for someone that had NO idea what the Fed is or has any real understanding of economics...so I tried to keep it basic for her benefit. I figure I gave her enough to get a fundamental understanding of fractional reserve banking. I have another blog I wrote on Lincoln: Death of a Republic: Stinkin Lincoln, Statism and the Articles of Confederation that includes an excellent video about Lincoln. If you're interested and can't find it on here, www.quitliano.blogspot.com Thank you for your comment and appreciation!
Cool, I'll check it out!
Ftr, the domain should be https://quitliano.blogspot.com/ -- the www. breaks it
Thanks!!! I may be a thinker, but I'm NO computer guy!
I promoted this comment to a full-blown response post: https://steemit.com/response/@modprobe/response-the-federal-reserve-a-bankster-s-wet-dream