The Deception Of Fractional Reserve Lending_3770

Quoting Henry Ford during the depression years: "It is well enough that people of the nation do not understand our banking and monetary system,cheap coach bags, for if they did, I believe there would be a revolution before tomorrow morning."
He was right then and nothing has changed today, except I believe the public is just now beginning to see the light. The problem stems from the Federal Reserve which is the banking cartel's strangle hold on our economy through control of our money.... but that's only the beginning.
This diatribe is about the how the banks screw us on an ongoing basis as a normal operating procedure.
Let's first define money (namely the dollar in your wallet). Money was created to provide the ability to exchange products and services easily. Before money we had the dilemma of how to exchange a cow for chickens, pigs and shoes. Without money, the chicken,cheap handbags, pig farmers and shoemaker would be hard pressed to barter with you easily. With money you simply sell the cow for money and buy the pigs, chickens and shoes with the money from the cow. In other words the dollar is a symbol/credit for the value of your goods or service. At one time our dollar was backed by gold to ensure it's value, but that's no longer the case, unfortunately.
Now lets see how the banks use the money paradigm. As an example you go to your bank to finance the purchase of a home for $100,000. The bank then checks your credit history and has you provide other information and hoops to jump through. Then the fun begins.... they will charge between 3 to 6% of the loan amount for all kinds of fees, then of course a downpayment that comes from your earnings (the VALUE of your labor, etc. remember?). The property itself is held as collateral for the loan contact/note for the bank. You then happily get to pay them monthly payments for the next 20-30 years.
Now, where does the money that the bank puts into the deal come from? ** Out of thin air!** It's just an entry in a journal transferred to the bank of the seller. No currency changes hands... just an addition to the debt the nation owes the Federal Reserve.
Here are the rules. When you sign your promissory note to the bank,cheap shoes, it is put on their books as reserves for the amount you borrowed. The deed (the home) off-sets their book entry for the loan which in effect increases their reserves by the amount of the loan. The bank is allowed to lend 10 times the amount of their reserves, so your loan gives them leverage to loan 10 times that amount,coach outlet store online!
So you got to pay them the down payment and points/fees that that you had to earn, also probably 1.5 times the loan amount in interest (that you have to earn) over the term of the contract. The bank gets all this income, the ability to loan out 10 times your loan amount to other suckers and they put up nothing, just an entry on their books.
The real insidious effect that is hidden from view is that all this new debt on the books devaluates the existing money over time. It's called the inflation rate and works like a hidden tax on your money. That's why a dollar today is only worth less than a nickle compared to a 1913 dollar when all this hanky panky was put into place by the adoption of the Federal Reserve.
It's a wonder that the public hasn't become aware of this theft that has been going on since 1913. Ready to revolt yet?
Until such time that we find our way out from under the diabolical banking scams, we have to operate within their rules. However, if you are aware of your rights, the law and existing protections you have a way to fight back.