Your bank is required to keep only a fraction of your cash deposit in its vault. The bulk of your money gets loaned out, paid off and redeposited into the banking system. This happens an exponential amount of times, creating a “virtual” accumulation of wealth for your bank off of your one deposit. Is there the possibility… Continue reading Banking 101: Fractional Reserve Lending – Video
Tag: Federal Reserve System
South Carolina Wants Their Own Currency… Really!
More Republican foolishness. This time, the people in South Carolina are definitely not getting their money’s worth. The fool? State Sen. Lee Bright (R-Roebuck). His idea? Give South Carolina its own currency! Senator Lee Bright is not so bright at all. He thinks he has his finger on the pulse of this economy and the United States… Continue reading South Carolina Wants Their Own Currency… Really!