To: theBuckwheat
According to the Federal Reserve the total money stock in the United States in January of 1959 was $292 billion. In February of 2006, the last month the Fed chose to report the statistic, that number had grown to $10,276 billion. In 47 years the total supply increased by a factor of 35.
Combine this with the fact that 95% of all money created is put into circulation by private banks in the form of loan, there can be little debate about whom the largest beneficiaries of the current system are. Without question it is the banks. No doubt about it.
To: iconoclast63
In 47 years the total supply increased by a factor of 35.Assuming your stats are correct, that's a 7.9% annual growth. Is that too much? What would the proper growth rate be?
Combine this with the fact that 95% of all money created is put into circulation by private banks in the form of loan
What's the alternative? All loans should come from government?
135 posted on
06/27/2007 7:48:36 AM PDT by
Toddsterpatriot
(Why are protectionists, FR Conspiracy Theorists and goldbugs so dumb?)
To: iconoclast63
...there can be little debate about whom the largest beneficiaries of the current system are. Without question it is the banks...You're saying that the people who made the most money since 1959 were those that owned banks?
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