Title: What is your best answer to this question? Source:
[None] URL Source:[None] Published:Oct 10, 2011 Author:Itistoolate Post Date:2011-10-10 10:56:27 by Itistoolate Keywords:None Views:176 Comments:10
If the BANKS are responsible for the 'creation' of 'money' according to the Federal Reserve Act of 1913 why was the "tax payer" burdened with the BANK "bailouts"?
It would be nice to see some well thought out answers.
If the BANKS are responsible for the 'creation' of 'money' according to the Federal Reserve Act of 1913 why was the "tax payer" burdened with the BANK "bailouts"?
The "money" for the bailouts was just an electronic transaction like all loans are. The transaction created the "money," although no actual money changed hands or was created. The transaction only created debt, along with interest on the debt, for the tax payer to pay back.