02-17-2022, 12:32 PM
(02-17-2022, 09:31 AM)Duchess Wrote: I recently had a conversation with someone about the fact that the same money is taxed over & over and over again.
Each dollar is loaned 8 times. That's 8 revenue streams per dollar for the banksters, plus all the taxation that local, state, and the federal gov't imposes. And the reserve requirements? I don't think there are any at this point. Going back to 2008, it was 10-15%, and very few banks had more than the minimum required. And the FDIC? That's not fully funded, and never has been. So it's an extremely precarious system that is maintained only by virtue of the federal government forcing people to accept and use dollars as payment, or dollar-denominated assets. And the only backing a dollar has is the debt that finances just about everything, including GDP, and that's created out of thin air. And as you may have noticed, the people that run this scam never lose, because they're "too big to fail". They get bailouts every time a boom goes bust, all losses are socialized, which debases our currency, and the net result is a massive transfer of wealth from the poor and middle class to those at the very top of the food chain, which is about .25% of the top percentile.
This tiny segment of the population is where all the decision-making power resides, and they maintain our democratic facade because it shields them from accountability. And all this was accomplished by virtue of having control over the national money supply. If you're wondering if this system has a name, it's called fractional reserve banking, but it's nothing more than a confidence scam that has been legitimized by the federal government -- which as you might guess, is in fact a client.