Bernanke footnote: Fed wants end to ‘minimum reserve requirements’
source: http://rawstory.com/2010/03/footnote-fed-believes-minimum-reserve-requirements-eliminated/
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- tbowman131
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"The Federal Reserve believes it is possible that, ultimately, its operating framework will allow the elimination of minimum reserve requirements, which impose costs and distortions on the banking... system," footnote number nine, at the bottom of the page, explains without additional qualification"
let me get this straight, large banks that inflated the largest credit bubble the world has ever seen wants to maintain explict federal support while no longer having to maintain ANY minimum level of deposits??? banks can already leverage 10:1 and 40:1 in some cases, now they can literally create as much money as they want and this is a good idea???
how did this sociopath get reconfirmed?!
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PressCore
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The sociopath got reconfirmed because life on land is the same
as life in the ocean. There are too many spineless jellyfish to care
to object. If you look a little closer Bernanke is using his middle finger
to say "fuck you" to the American people. " Man of the year " AAAANGH.
Wrong on both counts. Snake of the century is a more accurate description
of Bernanke's m.o. Have you ever seen the celluloid newsreels recorded
during the Weimar Republic in Germany after WW1 ? They were rolling
out wheelbarrows full of currency that couldn't buy them a loaf of bread.
PAPER IS NOT MONEY !!! Time is money. Essential work used to produce
vital goods or services is money. Precious metals used in industry that
can be recycled are money. But if you seriously think paper is money
then you have unconsciously been mind controlled to believe you have
money to burn. Because without anything of real value to be redeemed
with that empty paper, there are only 2 things you can do with it. Burn it
or wipe your ass with it. Unless you're the Gummint, you can't burn it so...What people often fail to realize is that money is only valuable if it is in
relatively finite supply where the demand for it is greater than the supply
of it. This is why people have to spend their time and labor to produce
some valueable goods or services to trade for money as an exchange
medium. The Rothchild banksters' Trojan Horse called "the Fed" is an
alien encroachment and an UnAmerican activity. The traitors of 1913 who
surrendered without firing a shot to foreigners controling our money &
economy instead of us may now be dead, but the evil undead invention
they betrayed us with still continues its sabotage. The founding fathers
created a LEGITIMATE monentary system where U.S. Notes redeemable
for Gold or Silver were issued in ltd.ed. quantities, matched to the actual
redemption of bullion coins. That is, if the U.S. Assay office recorded that
100 Million ounces of Gold had been recovered, there could be 100 Million
$20 Gold coins minted, and 100 Million Gold Certificates printed by the U.S,
Treasury to redeem them. The serial numbers were used to keep track.
It's reckless & irresponsible & dangerous to believe you can create money
out of thin air. That's called counterfeiting no matter what lies are printed on it. - 1 year ago
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PressCore
