Reply #6: Banks do create money... its not fake... thats just the way it is. [View All]

[althecat]

When a bank decides to lend you $100,000 money it does 2 things.

1. Creates a credit in your account for $100,000.
2. Creates a debit against your name for $100,000.

The money does not come from deposits though the bank is limited to spending roughly 10 times the funds it holds on deposit. The money is created out of thin air.

When you say you don't like people talking about shadowy banks I would really like to know why. Banks are shadowy. They are secrecy mad.

And when you say the banks will end up owning real estate that is simply not true. The banks will force the sale of property and resources to the privileged few who either a) have money or b) are still allowed to borrow it by the banks.

Banks who created this mess in the first place by forcing credit down the throats of poor people who could not afford it using loans with fishhooks and barbs are proxies. They are proxies for the real masters of money who for some reason decided that the trillions of dollars that they already had was insufficient and so they had to take the land and houses of middle class americans.