What does the Federal Reserve Bank have to do with the election? Is it true America will never be debt free?http://youtube.com/watch?v=OnwLgrSJZKs "The powers of financial capitalism had a far-reaching plan, nothing less than to create a world system of financial control in private ... all » hands able to dominate the political system of each country and the economy of the world as a whole...Their secret is that... | |
Money Masters distorts the truth and confuses the difference between fractional currency backing and fractional reserve banking..
When you refer to dishonest goldsmiths, you are referring to those who fraudelently issue far more gold certificates/receipts than they actually hold in value. It's the same sort of con as selling 1000% shares in a company.
Fractional Reserve Banking is a legitimate vehicle that allows banks to pay interest to their deposits by loaning out idle money. The alternative is 100% reserve in which you would receive no interest and would actually have to pay the bank to safeguard your cash. In fact, prior to 1980, most checking accounts were just that way.
If you don't like Fractional Reserve banking, you don't have to participate. Just put your cash in a safety deposit box. You won't get interest and have to pay the bank, but you will be true to your principles.
America could be public debt free by simply balancing the budget 10 years in a row. That's the time when 99% of all T-Bills will mature. But that would require a fiscally responsible congress for a whole decade which may never happen.
Sad to say but if America keeps sitting on her FAT butt and want roll up her sleeves and WORK . I MEAN every individual that Possibly can! Voluntees, too and quit buying houses they can't afford and Keep hopping our government will SAVE us I don't see it happening either America it is time to step up Vote these Politicians that gave our jobs away ( Clintons and Democrats) Get them out WE are going to social and less Independent Look what just happen with this new Democratic congress People Wake Up
Legalized counterifitting certainly causes inflation. When you print money out of thin air, the value of a dollar drops and prices go up.
America has only been debt free once in its history. And, I doubt highly that it will ever happen again.
LIKE RON PAUL SAID THEY PRINT MONEY OUT OF THIN AIR AND IT IS PRIVATELY OWN
they are the ones that sold the country to the chinese.
