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REPORT ABUSIVE REPLY
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Message Subject
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Who authorizes the Central Bank to print US monopoly money with no gold? Why doesn't the US Treasure do it?
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Poster Handle
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DGN |
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Post Content
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Read "The Creature From Jekyll Island,". It explains about banking and how, when you put in 1,000. the bank can lend 10,000, with your 1,000. backing it. So while you collect maybe 1 percent interest on that thou, the bank collects 6-8 percent on 10,000, thanks to your deposit. Does that help?  [ link to en.wikipedia.org] Yes thanks. This is a little off topic but a big block Cobra just went screaming down my street........ ... so uh... you were saying...?
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