Ok, I'm going to make this post short and sweet for all of you to understand our monetary system and how we are all economic slaves to the banks based on the fractional reserve operation set in place by The Federal Reserve.
Example again. $1 million dollar deposit in a commercial bank from The Feds - this same bank can lend out $9 to $10 million dollars out of thin air - loans and mortgages. Fractional Reserve Banking.
Here it is in one simple sentence.
The Federal Reserve creates money out of thin air with interest attached to the money that everyone has to pay back with real money via time and labor!
And Ben Bernanke was named Time Magazines 'Man of the Year.'
Happy Holidays!! - Don't spend too much, you will just make these guys wealthier as you go into further debt!