Ron Paul: Fractional Reserve Banking, Government, and Moral Hazard

Image: Ambro / *

Fractional reserve banks … create money out of thin air. Essentially they do it in the same way as counterfeiters. Counterfeiters, too, create money out of thin air by printing something masquerading as money or as a warehouse receipt for money. In this way, they fraudulently extract resources from the public, from the people who have genuinely earned their money. In the same way, fractional reserve banks counterfeit warehouse receipts for money, which then circulate as equivalent to money among the public. There is one exception to the equivalence: The law fails to treat the receipts as counterfeit.”  Murray Rothbard

“Fractional reserve banking is the practice by which banks accept deposits but only keep a fraction of those deposits on hand at any time. (…) And if depositors en masse attempt to withdraw more funds than are available in reserves, the entire of house of cards comes crashing down. This is the very real threat facing some European banks today.” – Ron Paul

Continue reading

RT: Indian street youth develop model banking system

A group of teenagers in New Delhi have decided to take their future into their own hands. Working together to manage their own mini economy, it seems they could even teach the world’s international bankers a thing or two. RT’s Priya Sridhar explains.”

“In a time when many people would argue that the global financial system is on the brink of collapse Continue reading

“Banks and Government have colluded to financially enslave Canadians”

Victoria Grant explains why her homeland, Canada,
and most of the world,
is in debt.

April 27, 2012 at the
Public Banking in America Conference,
Philadelphia, PA.

Published on May 8, 2012 by
Creative Commons Attribution license (reuse allowed)

“In conclusion, it has become painfully obvious, even for me, a 12 year old Canadian, that we are being defrauded and robbed by the banking system and a complicit government.

Continue reading

Questioning Bank of Canada post-1974 policy: Astounding 12 y.o. Canadian speaking for her country to be ”free and cleared of debt-based economy”

Victoria Grant on Press For Truth TV (a 12 year old Canadian patriot)

Press For Truth
April 13, 2012

License:Creative Commons Attribution license (reuse allowed)

”Meet Victoria Grant. When I first saw her speech online a few days ago I knew I wanted to interview this young intelligent Canadian. I gave her an idea of what my questions would be like and she prepared for the interview all on her own in a very short period of time. Victoria is a courageous young warrior for Truth and we can all learn from her example.” Press For Truth Continue reading

False Comparison to 2008

Image: Salvatore Vuono / *

In my opinion, as publicly stated in a recent article, the panic phase has begun. The American people have begun to sense the broken nature of the system, the suppose curative cream of new debt actually adding to the debt saturation problem, the USGovt deficit as never to be reduced, the grotesque imbalances growing worse, the global disputes turning uglier, the system fracturing before our eyes. The people are awakening to the systemic failure. They are at last showing fear and sensing some doom. They are painfully and openly more aware that the system cannot rectify itself, due to a broken policy apparatus, due to ineffective economic counsel, due to corrupt bank operations, due to unprosecuted fraud, due to an endless housing decline, due to a vanishing Middle Class in America. These are the elements of systemic failure.”       Jim Willie CB Continue reading