Money as debt
I came across this really good video that explains how banks, money, and debt work.
You should take some time to watch it, it’s one of the most eye-opening things you’ll ever see. And you’ll begin to understand what this “credit crisis” really is and how we got here.
The wonderful upside down world of banks | Defenestrating Thoughts from the Bivouac wrote:
[...] not. “Mark to model” is very much legal. As is fractional reserve banking, where a bank can lend out $50 for every $1 they [...]
Posted on 16-Jan-10 at 2:41 pm | Permalink