The fractional reserve fraud: still 'unseen'...

The Limits of Economic Garbage

By The Mogambo Guru

04/30/09 Tampa Bay, Florida I was pretty sloshed as I put another shot of tequila to my now-benumbed lips, but the same thought kept going through my whirling head: Total Fed Credit (also referred to as Federal Reserve Credit), zoomed $70.3 billion last week! Yikes! $70.3 billion of new credit appeared, as if by magic, in the accounts of banks in One Freaking Week (OFW)!

And this is not, of course, new money. Instead, this is Fed credit, which the Federal Reserve admittedly creates out of thin air at their whim and gives to the banks, but which BECOMES money when somebody borrows money from a bank.

And how much money can be created out of this Fed credit? Almost unlimited amounts, since the amounts of money that the banks must keep on hand as reserves against this new “unlimited amounts” of new money and loans is, apparently, zero! Hahaha! “Fractional banking” indeed! Hahaha! What as fraud! (more)

[One may ask if the Judges are so corrupt that they can't see the fraud? Yes, they are !]