[Toddsterpatriot]

Page 27, "When a borrower cannot repay and there are no assets which can be taken to compensate, the bank must write off that loan as a loss. However, since most of the money originally was created out of nothing and cost the bank nothing except bookkeeping overhead, there is little of tangible value that is actually lost. It is primarily a bookkeeping entry".

[Errant]

Bernanke Urges Banks to Forgive Portion of Mortgages

The Fed forgives loans all of the time, both domestic and foreign - not sure what "error" you see on Page 27.

The Fed creates money out of "thin air". Where's the cost in doing that???

Watch this video for a great reference of how the Fed "creates" money:

The Biggest Scam In The History Of Mankind