(January 28, 2014 at 6:43 pm)paintpooper Wrote: Banks are criminal. Usury is criminal. The use of fractional banking is criminal. When you get a loan, the bank just poofs the money into existence, it is using a fraction of other peoples deposits to loan you money. You buy a 200k dollars house and you end up paying the bank like 400K over the course of 30 years, they have 200K profit for doing nothing, along with the fact that if you stop paying they then own your house (for the price of nothing) then resell the house again at interest, along with keeping all your payments and down payments. The biggest money scam, besides the creation of money, in the world.Well, true, but I think that its not just the banks. The people themselves are greedy, they get paid interest by the banks they deposit their money into.
Without deposits, they wouldn't be able to loan out anything.
The fractional reserve system was a system created in order to avoid things like the great depression, but now, it has gone on to produce more evils than good.
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