A Fine Realization

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cannotaffordit's picture
cannotaffordit
Status: Gold Member (Offline)
Joined: Jun 12 2008
Posts: 273
A Fine Realization

I just had a fine realization.

I was balancing my bank statement, and realized that I am carrying approximately $12,000 more in my checking account than I really need each month. (Pretty stupid, I admit)   So, I got out my ole calculator, and began figuring what that is worth to the banks, as far as loans, using their fractional reserve system.  The results were staggering.

 I, effectively, give them $12,000 of my money.  For that, they pay me approximately $120 over a full year.

Using their fractional reserve system, and going from one bank to another, they can loan out over $108,000, and if they get even as little as 6% , that gives them a profit of over $6,500 in one year.

Ok, let's see if I understand this:  The banks make over $6,500 using my money, and only give me $120 for the use of my money.  Hmmm.   Maybe I'm not coming out as well as I should on this deal.

And this has been going on for a long, long time, with hundreds of billions of dollars.   No wonder they own us!

Hey you guys.....please don't look down on me for being stupid enough to play their game.  I'm quitting today.

Now I think I see the value of us all taking our money out of the banks.

But, on the other hand, if we did that, they'd probably just get the law changed so they could loan money without any deposits in their banks.

Thomas Hedin's picture
Thomas Hedin
Status: Platinum Member (Offline)
Joined: Jan 28 2009
Posts: 815
Re: A Fine Realization

The only way we are going to beat these bankers is by taking away their control over the issuance over 100% of the money supply, and the only way we can do that is by putting money into circulation free of debt that doesn't have to be borrowed from them or anyone else.

I know we all think that we own the money in our bank accounts but in all reality the banks own all the money all the time, they only loan it to us at interest, making it impossible for us to get out of debt to the banking system.  They never transfer ownership of the money.  Its the same difference of me lending you my car -vs- me spending you my car.  The worst part is the banking system has convinced most people that not only did they give ownership of the money to you, they also convinced most people that they actually gave you something.

If you really want to stop being owned and controlled by the banking system, then you should consider muscling up all your energies behind the Minnesota Transportation Act.  It is the first best step solution we have in state action right now to allow us to own our own money instead of being forced to beg for it from the banking system at interest.  Lets stop messing around and cut them off right at the knees.  Lets create money that doesn't have to be borrowed from the banking system, lets have money created as an asset to the people instead of a liability to the people.

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