Title: The Last Time Banks Did This... They Caused A Financial Crash w/Richard Wolff Source:
[None] URL Source:https://www.youtube.com/watch?v=OuQ0-QTANYE Published:Sep 12, 2019 Author:Thom Hartmann Program Post Date:2019-09-21 10:45:07 by BTP Holdings Keywords:None Views:307 Comments:2
Banks make their money from depositors by lending to others.
Banks lend out almost all the money they have on deposit and this means that there could be a bank panic if a lender can’t retrieve their deposits.
The banks are supposed to hold a percentage of every dollar in reserves, which means they have a large pile of money.
What happens if the government wants to stimulate the economy, by telling the banks they can lend out part of their held deposits or all of it?
The last time the banks were able to lend out their reserves... we found ourselves in a global financial crash!
Dr. Richard Wolff explains to Thom how all this works.
The war with Iran will be a distraction from the economic collapse that has been engineered. When it all comes apart it will be a very dangerous country to live in until those who are on the dole are either factored out or until the checks start coming again.
"Call Me Ishmael" -Ishmael, A character from the book "Moby Dick" 1851. "Call Me Fishmeal" -Osama Bin Laden, A character created by the CIA, and the world's Hide And Seek Champion 2001-2011. -Tommythemadartist
those who are on the dole are either factored out or until the checks start coming again.
When I lived in Lebanon I knew a guy that bought one of those swing sets from Wal Mart. When his check did not come in the following month he was taking it back for a refund. The guy was a leech and always was trying to borrow money from me. ;)
"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke