I grew up believing all loans is money banks lend you from their own money they have on hand. But that is a lie. That money is created by the fed reserve when the paperwork is signed. And all the bank has to do is follow rules their lobbyists write.
Why do we even need private banks? I bet people could handle their own fianaces a lot better if we had direct access to fed money creation and we didn’t let bank lobbyists write the rules.
I grew up believing all loans is money banks lend you from their own money they have on hand. But that is a lie. That money is created by the fed reserve when the paperwork is signed. And all the bank has to do is follow rules their lobbyists write.
Why do we even need private banks? I bet people could handle their own fianaces a lot better if we had direct access to fed money creation and we didn’t let bank lobbyists write the rules.
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Rich people are rich because they use other peoples money. Banks do the same.