Most Americans believe that banks lend out money that has been entrusted to them by depositors, but in fact, banks create the money they loan, not from the bank's own earnings, or from money that's been deposited there, but directly from the borrower's promise to pay.

Essentially, under our nation's Fractional Reserve Banking laws, banks are permitted to [fraudulently] conjure into existence the amount of the loan, and then just enter that figure into the borrower's account as a debt obligation.

This 120 year-old scam has been The Mother of All Frauds.



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